Cloud Video Conferencing Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Cloud Video Conferencing Market Statistics: 2027

Business collaboration and communication are evolving with growth in technologies. Workers across the globe are working remotely through virtual world. This provides a strong demand for video conferencing solutions attributable to the benefits such as simple and instant connected experience from office to home. This solution offers benefits, such as reduced cost, simpler management, and usability, to organizations. 

Cloud-based video conferencing is similar to traditional video conferencing solutions, which is deployed with the same purpose and expected outcomes. However, the key differences are video capabilities are cloud-based video conferencing is hosted on cloud with less servers and in-house maintenance. It helps the organization get instant access with high-quality calls that can be issued from a range of different devices, anywhere with internet connection. 

COVID-19 scenario analysis:

• COVID-19 impacted human health care systems to economics of almost every country. However, cloud-based video conferencing and collaboration tools helped enterprises to stay in touch with their employees, clients, and partners. Cloud-based solutions continued to run and enable seamless business operations during the crisis. 
• Smaller, more concentrated meeting along with large conference has been forced to move away from physical spaces and into safer, more flexible environment of the cloud.
• As Slack, Microsoft, Zoom, and others witness considerable increases in usage, these companies started using the widespread panic as an opportunity to connect with their customers on a deeper level while attracting new ones. They offer free versions of some of their premium tools, which have the potential to expand the small percentage of the global workforce that works remotely.
• Some of the most demanding video conferencing tools, such as Google Hangouts, Microsoft Teams, Zoom, Avaya Spaces, Enreach/Centile, Cisco Webex, and StarLeaf, have witnessed a rapid increase in the usage of these apps during the pandemic.  In addition, as more companies continue to rely on video conferencing and collaboration tools worldwide, organizations are projected to witness an increase in the number of businesses offering free and expanded solutions to their customers.
• Cloud video conferencing tools are also widely being used for commercial purposes such as education and communication medium. Thus, their adoption is estimated to provide lucrative opportunities for the cloud video conferencing market in the upcoming years.  

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Ability of cloud video conferencing services to provide different features, such as security, interoperability, ease of use, and automatic updates, majorly drives the growth of the cloud video conferencing market. In addition, growth in demand for unified solutions, increase in adoption of cloud computing, rise in need for reduced cost of communication, and major shift toward cloud applications, further fuel the growth of the market. However, factors, such as technical glitches, low quality video/audio, security concern, and unrealized ROI due to insufficient use, restraint the growth of the market. Furthermore, growth in adoption of these services among organizations to enhance collaboration and interaction within geographically dispersed teams provides opportunities for the market.
Easy management: 

Increased adoption of cloud computing: 

With the evolution of technology, multiple enterprises are adopting and migrating toward cloud computing as their core service provider. Cloud computing reduces the need to build microcontroller unit, which further helps to reduce the infrastructure cost. In addition, cloud computing offers enhanced network structure; therefore, large-scale transformation of the network is avoided. Cloud computing also consists of features which are required to deploy or create any application so that organizations avoid any investments on equipping the IT staff or to rent any devices required for conference calls such as multi-party video communication in conference room, personal computer, and mobile. Moreover, all these services are automatically available through the cloud service providers, thereby reducing the overall operational cost and driving the growth of the cloud video conferencing market. 

Frequent technical glitches: 

One of the common problems faced by the user is technical glitches while streaming the video, which requires IT support. This consumes a lot of time from the user and the organization’s end. As video conference is in real-time, if that’s lost, it will be a loss of organizational operational time and data, thus limiting the growth of the cloud video conferencing market.

New product launches in cloud video conferencing: 

Large enterprises witness the benefits and the growth of the cloud video conferencing market, and are in the process to launch highly productive cloud video conferencing products. Sangoma Technologies Corp, one of the top leading communication as a service provider for business, has recently announced its new video conferencing and collaboration “service Sangoma Meet”. It is designed to provide enhanced work from home or collaboration experience. It features multi-party, desktop sharing features. In addition, Yealink Inc., one of the key players of this market, has also launched new cloud-based video solutions. Yealink Meeting is a platform designed to support collaboration in the modern landscape. These collaboration and product launches are expected to provide lucrative opportunities for the cloud video conferencing market. 

Key benefits of the report:

• This study presents the analytical depiction of the global cloud video conferencing market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cloud video conferencing market share.
• The current market is quantitatively analyzed to highlight the global cloud video conferencing market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

 Cloud Video Conferencing Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights