Market Introduction
Video conferencing is a live video-based platform made for conducting meetings between two or more individuals in distinct locations through a video-enabled devices. It enables several individuals to meet and collaborate face to face through long distance meeting by transmitting video, audio, text, and presentations in a real time via internet. The internet infrastructure in well-established in the US and Canada, with significant number of telecommunication companies and service providers. Being technologically advanced countries, the organizations seek faster internet network, and pertaining to this, the telecommunication companies are striving hard to develop and commercialize the 5G network. The development of 5G network would revolutionize the video conferencing market with faster speed, better picture and video quality.
Market Overview and Dynamics
The video conferencing market in North America was valued at US$ 2,029.8 million in 2019 and is projected to reach US$ 3,180.3 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027. The educational and healthcare sectors are maturing across developing countries and are continuously experiencing the emergence of advanced technological solutions to increase efficiency. Traditionally, these sectors used room based interaction strategies; however, with the rise in technology, these sectors are investing in virtual solutions for better performance. In recent years, several educational institutions and healthcare organizations are incorporating video conferencing tools to educate students and treat located remotely patients. This is a crucial driving force for the video conferencing market.
Key Market Segments
In terms of type, the hardware segment in the video conferencing market accounted for the largest share in 2019. In terms of deployment, the cloud segment in the video conferencing market accounted for the largest share in 2019. In terms of industry vertical, corporate enterprises segment in the video conferencing market accounted for the largest share in 2019.
Major Sources and Companies Listed
Several major primary and secondary sources referred to for preparing this report on the video conferencing in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Adobe Inc., Google LLC, Microsoft Corporation, and Zoom Video Communications, Inc., among others.
Reasons to buy report
North America Video Conferencing Market Segmentation
North America Video Conferencing Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 2,029.8 Million |
| Market Size by 2027 | US$ 3,180.3 Million |
| CAGR (2020 - 2027) | 5.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Video Conferencing Market is valued at US$ 2,029.8 Million in 2019, it is projected to reach US$ 3,180.3 Million by 2027.
As per our report North America Video Conferencing Market, the market size is valued at US$ 2,029.8 Million in 2019, projecting it to reach US$ 3,180.3 Million by 2027. This translates to a CAGR of approximately 5.2% during the forecast period.
The North America Video Conferencing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Video Conferencing Market report:
The North America Video Conferencing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Video Conferencing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Video Conferencing Market value chain can benefit from the information contained in a comprehensive market report.
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