Distributed Work Model to Drive Video-Conferencing Market

Video conferencing Market size is going to reach $9.95 Billion by 2028 , with the continuation of remote work set up, globally, triggered by the pandemic is driving continued demand for cloud-based video conferencing, teleconferencing as well as workspace communication and collaboration solutions. Trends such as the increasing transition towards cloud and the growing adoption of Video Conferencing as a Service (VCaaS) are expected to drive market growth. As remote and globalized working models are becoming popular, the move to the cloud is becoming inevitable, thereby driving the demand for video conferencing solutions.

Due to the COVID-19 pandemic, a large number of organizations globally have encouraged their employees to work from home or remotely, driving the demand for video conferencing applications and software. The education sector witnessed a notable rise in the demand for these solutions in 2020 to continue with online learning and seminars.

The primary growth driver for the market, especially in 2020, remained the need for organizations to facilitate employee collaboration, which led to the demand for conferencing apps such as Microsoft Teams, Google Meet, and Zoom. Several companies have witnessed the digital transformation in just 2 to 3 months that otherwise would have occurred over two years and it is all due to the COVID-19 pandemic.

However, despite the elevated demand, security concerns have posed a challenge to market growth. With this the Global video conferencing market is forecast to witness a CAGR of 19.7% between 2021 and 2026 and reach $22.5 billion. Leading players are constantly adding new features as well as acquiring the latest technology to make their enterprise communication platform more agile and productive.

Deepak Sahu, President & CEO, VARINDIA