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

RELEASE DATE
17-Oct-2022
REGION
North America
Deliverable Type
Market Research
Research Code: K7D0-01-00-00-00
SKU: TE04110-NA-MT_26992
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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

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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

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.--BEGIN PROMO--

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

More Information
Deliverable Type Market Research
Author Roopam Jain
Industries Telecom
No Index No
Is Prebook No
Podcast No
WIP Number K7D0-01-00-00-00