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Hybrid Work and Growing Number of Meeting Spaces Propel Adoption
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The $2.75 billion global video conferencing devices market represents a secular growth opportunity driven by the long term, sustainable demand for video meetings to connect remote workers and geographically dispersed teams. Growth in 2020 was primarily driven by adoption from remote workers, digital healthcare and online education. As travel and proximity restrictions triggered massive Work-from-Home (WFH) policies, meeting rooms remained more or less in a holding pattern. 2021 marks the beginning of the revival of meeting rooms and office spaces. As businesses and educational institutions prepare for the return to work, it is expected that meeting rooms and classrooms will see heavy technology investments to support hybrid work and hybrid learning. The video devices market is seeing an unprecedented pace of innovation with rampant proliferation in device form factors. A few years ago, users had limited choice of video conferencing devices. Today a growing array of device types and flexible deployment models are allowing end users greater choice for video conferencing at home, at the office, and on the go.This report uncovers several top of mind trends for the short- to mid-term and analyzes the key workplace transformation and meeting device trends emerging in the post-pandemic era. As remote and hybrid work become the new normal, what will be the new growth opportunitiesfor video devices? What will the meeting rooms of tomorrow look like? Given the fast changing market landscape, there are significant growth opportunities for vendors that can differentiate on better quality and more scalable, manageable and secure services and devices that ensure an optimal meeting experience regardless of where users work from. Frost & Sullivan has analyzed the key market trends and has re-forecasted the user base/CAGR for video devices. This insight reassesses the growth opportunities available to vendors in this space and lays out key strategies for success in the post-COVID video conferencing devices market.Author: Roopam Jain
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