Global Video Conferencing Devices Market, Forecast to 2028 Updated Research Available

The $3.25 billion global video conferencing devices market is undergoing seismic changes in the wake of massive work, workplace, and workforce transformation. Driven by the shift to remote work, video adoption saw hyper-growth during the pandemic years. The market is currently undergoing significant normalization, as it gets aligned with the new future of hybrid work. A complex stew of trends, including delays in return to office, supply chain disruptions, and macroeconomic challenges led to choppy video conferencing device sales in 2022. Despite challenging market conditions, the value of video communications has become deeply entrenched across all industries creating a long-term upward market trajectory. Among the growth vectors in this market are office and meeting room modernization, new build-outs of collaboration spaces of varied sizes to accommodate hybrid work styles, and the drive to create equitable and engaging meetings. Furthermore, the rapid migration from legacy environments to cloud UC is creating a pull-through for meetings and meeting room upgrades.

This report covers the market for room video conferencing devices and personal executive desktop systems. Consumer and prosumer-grade devices as well as personal USB peripherals like webcams are excluded. Despite the market softening in Q4 2022 and anticipated in 2023, the 5-year revenue compound annual growth rate (CAGR) is a robust 17.9 percent with the total market reaching $7.41 billion in 2028. The unit CAGR is forecasted at 13.5 percent impacted by a challenging macro-economic environment and rising global prices.

Customer organizations and market participants including technology vendors, service providers, channel partners, resellers, and IT/telecom decision-makers, among others, will find value in leveraging the findings of this study to develop sustainable workplace growth strategies.

Author: Roopam Jain