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State of the Global Video Conferencing Devices Market—Forecast to 2027
State of the Global Video Conferencing Devices Market—Forecast to 2027
Post-pandemic Market Normalization and Economic Headwinds Put Brakes on Growth in 2022: Long-term Momentum for Video-First Enterprise will Continue
17-Oct-2022
North America
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Description
The $3.85 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, has resulted in choppy video conferencing device sales in recent quarters. Despite challenging market conditions, the value of video communications has become deeply entrenched across all industries creating a long-term upward market trajectory. The long-term secular growth trends in hybrid work will drive the video-first transformation of meeting spaces, including investments in intelligent audio-video devices and digital whiteboards. Inclusivity and employee well-being are big themes in technology development. The user experience and feature sets are evolving to make sure every participant is seen and heard.
The 5-year revenue compound annual growth rate (CAGR) is a robust 23.9 percent with the total market reaching $11.25 billion in 2027. The unit CAGR is forecasted at 15.3 percent driven by greater video-enablement of all meeting spaces for better hybrid work. Video conferencing penetration rate will grow roughly 3X in 7 years (2020-2027) driven by the momentum for the video-first transformation of businesses and education.
Customer organizations and market participants including technology vendors, service providers, channel partners, resellers, IT/telecom decision-makers, among others will find value in leveraging the findings of this study to develop sustainable workplace growth strategies.
Research Scope
Frost & Sullivan’s research team has been covering evolving hybrid work practices and technologies that address the new future of work. In this report, we summarize emerging hybrid work trends, their impact on the meeting space, and the growth in video conferencing devices. This report covers the market for business/professional use of video conferencing devices. The three main categories of devices that are enabling video in meeting spaces, home offices, and classrooms include:
- Room solutions
- USB conference room cameras
- Personal video devices
Author: Roopam Jain
RESEARCH: INFOGRAPHIC
This infographic presents a brief overview of the research, and highlights the key topics discussed in it.Click image to view it in full size
Table of Contents
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Market Segmentation
Segmentation by Room Size
Target Markets
Video Adoptions Trends in 2022 and Beyond
Market Overview
Market Overview (continued)
Market Overview (continued)
Market Overview (continued)
Key Growth Metrics
The Great Uncertainty
Transformational Shifts
Current and Future Work Models
Shifting Workplace Plans
Key Benefits and Challenges of Hybrid/Remote work
Growing Optimization of the Office Space
Rapid Migration to Cloud Video Conferencing
Key Capabilities for Room Video Conferencing Devices
Growing Technology Consolidation
Emerging Workspaces
Meeting Room Trends
Meeting Room Trends (continued)
Growing Choice of Deployment Options
Meeting Equality—What’s Next
Video Conferencing Devices—Total Addressable Market (TAM)
Growth Drivers
Growth Restraints
Forecast Assumptions
Forecast Assumptions (continued)
Revenue and Unit Shipment Forecast
Revenue Forecast by Device Type
Unit Shipment Forecast by Device Type
Average Pricing Forecast by Device Type
Percent of Revenue Forecast by Device Type
Percent of Unit Shipment Forecast by Device Type
Key Growth Metrics
Meeting Room Count and Video Conferencing Penetration Rate
Revenue and Unit Shipment Forecast
Revenue Forecast by Meeting Room Size
Unit Forecast by Meeting Room Size
Percent of Revenue Forecast by Room Size
Percent of Unit Forecast by Room Size
Percent of Revenue by Region
Competitive Environment
Room Solutions Market*—Revenue Share
Room Solutions Market*—Unit Share
USB Conference Room Camera Market—Revenue Share
USB Conference Room Camera Market—Unit Share
Key Competitors
Growth Opportunities—Top Recommendations
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
Popular Topics
Research Scope
Frost & Sullivan’s research team has been covering evolving hybrid work practices and technologies that address the new future of work. In this report, we summarize emerging hybrid work trends, their impact on the meeting space, and the growth in video conferencing devices. This report covers the market for business/professional use of video conferencing devices. The three main categories of devices that are enabling video in meeting spaces, home offices, and classrooms include:
- Room solutions
- USB conference room cameras
- Personal video devices
Author: Roopam Jain
| Author | Roopam Jain |
|---|---|
| Industries | Telecom |
| No Index | No |
| Is Prebook | No |
| Podcast | No |
| WIP Number | K7D0-01-00-00-00 |