Video Conferencing Market : Pin-Point Analysis For Changing Competitive Dynamics
The video conferencing market has one clear leader Cisco Systems Inc., which is further expanding its outreach by means of product innovation. The spectrum of video conferencing products offered by the company has enhanced its brand image globally. Acquisitions of smaller companies is another notable growth strategy adopted by the company. The increasing trend of virtual meetings for real-time communication with distantly located teams is the primary factor driving the global video conferencing market. With rapid globalization, video conferencing is a major communication tool used by enterprises that benefits in the form of enhanced productivity and faster decision making. Acting as a barrier to the growth of the video conferencing market are high initial investments and high installation costs of video conferencing equipment. As per a report by Transparency Market Research, the global market for video conferencing is likely to expand at a CAGR of 8.3% between 2017 and 2025, for the market to become worth US$8,958.7 mn by the end of 2025. The market was evaluated to be worth US$4,405.6 mn in 2016. Obtain Report Details @ https://www.transparencymarketresearch.com/video-conferencing-market.html Amongst deployment type segments, on-premise dominates the video conferencing market in terms of revenue. However, cloud-based video conferencing is anticipated to surpass on-premise segment in terms of growth rate over the forecast period. North America held supremacy in terms of revenue in the video conferencing market in 2016. The widespread popularity of telepresence and high adoption of managed video conferencing solutions are the key factors for the dominance of the region. The region is expected to display a significant growth rate over the forecast period. The foremost factor driving the global video conferencing market is the increasing trend of virtual meetings with rising globalization across industries. Video conferencing allows real-time