State of the Global Video Conferencing Devices Market Forecast to 2028

State of the Global Video Conferencing Devices Market Forecast to 2028

Challenging Market Conditions and Cautionary Enterprise Spending Put Brakes on Growth: Long-term Momentum for Video Adoption will Continue

RELEASE DATE
22-Dec-2023
REGION
Global
Deliverable Type
Market Research
Research Code: K95D-01-00-00-00
SKU: TE_2023_475
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Description

The $3.28 billion global video conferencing devices market is undergoing fundamental shifts due to massive work and workplace transformation. In 2023, most customers took a measured approach to video-enabling meeting rooms, focusing first on bringing employees back to the office. Adverse macroeconomic conditions, geopolitical instability, and budgetary constraints put additional pressure on market growth. Despite challenging market conditions, the value of video communications has become deeply entrenched across all industries, creating an upward market trajectory.

Ongoing progress in return-to-office plans combined with secular trends in hybrid work and team collaboration will boost the demand for intelligent video devices. The market is expected to see gradual improvements and is forecasted to return to growth mode in 2024. AI is the key market driver, removing many friction points that have hindered video adoption in the past. It is the overarching technology driving much of the innovation in meeting software and devices. Vendors are leading with AI-based feature sets to enhance the user experience, offer meeting equality, and provide automation and room insights.

The 5-year revenue compound annual growth rate (CAGR) is a robust 16.8 percent driven by greater video-enablement of meeting spaces for better hybrid work. Video conferencing penetration rate will more than double from 2020 to 2028.

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.

Author: Roopam jain

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Video Conferencing Devices

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Market Segmentation

Segmentation by Room Size

Target Markets

Choice of Deployment Options

Adoption Trends in 2024 and Beyond

Market Overview

Market Overview (continued)

Market Overview (continued)

Market Overview (continued)

Key Growth Metrics

Transformational Shifts

Emerging Work Models

Current Work Model

Shifting Workplace Plans

Key Capabilities for Room Video Conferencing Devices

Migration to Cloud Video Conferencing

Strong Focus on AI and ESG

Workplace Optimization for Hybrid Work

Workplace Optimization for Hybrid Work (continued)

AI-led Innovation is Table stake

AI-led Innovation is Table stake (continued)

Multimodal AI Creates Growth Opportunities—Analyzing Data in Video, Image, and Text Formats

Sustainability is a Key Differentiator

Video Conferencing Devices—Total Addressable Market (TAM)

Growth Drivers

Growth Restraints

Forecast Assumptions

Forecast Assumptions (continued)

Total Market—Revenue and Unit Shipment Forecast

Total Market—Revenue Forecast by Device Type

Total Market—Unit Shipment Forecast by Device Type

Total Market—Average Pricing Forecast by Device Type

Total Market—Percent of Revenue by Device Type

Total Market—Percent of Unit Shipment by Device Type

Room Devices—Key Growth Metrics

Meeting Room Count and Video Conferencing Penetration Rate

Room Devices—Revenue and Unit Shipment Forecast

Room Devices—Revenue Forecast by Meeting Room Size

Room Devices—Units Forecast by Meeting Room Size

Room Devices—Percent of Revenue Forecast by Room Size

Room Devices—Percent of Unit Forecast by Room Size

Room Devices—Percent of Revenue by Region

Competitive Environment

Room Endpoints—Revenue Share

Room Endpoints—Unit Share

USB Conference Room Cameras—Revenue Share

USB Conference Room Cameras—Unit Share

Key Competitors

Growth Opportunity 1: AI as a Growth Engine

Growth Opportunity 1: AI as a Growth Engine (continued)

Growth Opportunity 2: Meeting Equality

Growth Opportunity 2: Meeting Equality (continued)

Growth Opportunity 3: BYOD Enablement

Growth Opportunity 3: BYOD Enablement (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The $3.28 billion global video conferencing devices market is undergoing fundamental shifts due to massive work and workplace transformation. In 2023, most customers took a measured approach to video-enabling meeting rooms, focusing first on bringing employees back to the office. Adverse macroeconomic conditions, geopolitical instability, and budgetary constraints put additional pressure on market growth. Despite challenging market conditions, the value of video communications has become deeply entrenched across all industries, creating an upward market trajectory. Ongoing progress in return-to-office plans combined with secular trends in hybrid work and team collaboration will boost the demand for intelligent video devices. The market is expected to see gradual improvements and is forecasted to return to growth mode in 2024. AI is the key market driver, removing many friction points that have hindered video adoption in the past. It is the overarching technology driving much of the innovation in meeting software and devices. Vendors are leading with AI-based feature sets to enhance the user experience, offer meeting equality, and provide automation and room insights. The 5-year revenue compound annual growth rate (CAGR) is a robust 16.8 percent driven by greater video-enablement of meeting spaces for better hybrid work. Video conferencing penetration rate will more than double from 2020 to 2028. 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. Author: Roopam jain
More Information
Deliverable Type Market Research
Author Roopam Jain
Industries Telecom
No Index No
Is Prebook No
Keyword 1 Video Conferencing Trends
Keyword 2 Video Conferencing Device
Keyword 3 Communication Technology Trends
Podcast No
Predecessor K7DO-01-00-00-00
WIP Number K95D-01-00-00-00