Countries in the region are investing heavily in AI and 5G for reinforcing network connectivity systems, creating a dynamic environment for innovations that is likely to drive the web & video conferencing market.
HIGHFIVE VIDEO CONFERENCING VS WEBEX UPGRADE
Growth in the North America region is fueled by implementation of web & video conferencing solutions to replace or upgrade traditional systems and adoption of new technologies such as AI and IoT. Within Europe, Germany is forecast to grow at approximately 11% CAGR while Rest of European market (as defined in the study) will reach US$1.2 Billion by the end of the analysis period. Asia-Pacific is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 12.9% through the analysis period.Īmong the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 10.3% and 10.5 respectively over the analysis period. The country currently accounts for a 33.49% share in the global market. is estimated at US$1.4 Billion in the year 2021. The Web and Video Conferencing SaaS market in the U.S. Market is Estimated at $1.4 Billion in 2021, While Asia-Pacific is Forecast to Reach $2.4 Billion by 2026 The COVID-19 pandemic is rapidly fueling the market for video conferencing wherein both government agencies and businesses are focusing on video conferencing to connect remotely with workforce, employees, and consumers for avoiding direct contact. Video conferencing solutions are witnessing a further increase in demand owing to an increasing count of online seminars, conferences, and international workshops. Video conferencing solutions are witnessing an increased demand and popularity from certain areas that include online education and telemedicine primarily in developing countries that include India, Brazil, Philippines, and China. The conference experience and video quality for employees and enterprises is improving due to the use of AI-enabled technologies. The emergence of new technologies such as IoT, cloud computing, VR, improved video compression, and AI are likely to drive the video conferencing market. The demand and requirement for video conferencing is expanding continuously due to geographically dispersed businesses and remote workforce management.
HIGHFIVE VIDEO CONFERENCING VS WEBEX GENERATOR
The corporate enterprise sector remains the primary revenue generator for the web & video conferencing market due to increasing number of international companies and globalization of supply chains, which require long-distance visual communication for enhanced productivity. His segment currently accounts for a 9.7% share of the global Web and Video Conferencing SaaS market.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Education segment is readjusted to a revised 10.3% CAGR for the next 7-year period. Global Web and Video Conferencing SaaS Market to Reach US$7 Billion by the Year 2026Īmid the COVID-19 crisis, the global market for Web and Video Conferencing SaaS estimated at US$3.5 Billion in the year 2020, is projected to reach a revised size of US$7 Billion by 2026, growing at a CAGR of 11.9% over the analysis period.Ĭorporate, one of the segments analyzed in the report, is projected to grow at a 12.9% CAGR to reach US$4.1 Billion by the end of the analysis period. 24, 2021 (GLOBE NEWSWIRE) - The "Web and Video Conferencing SaaS - Global Market Trajectory & Analytics" report has been added to 's offering.
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