GLOBAL VIDEO CONFERENCING MARKET
- The Video conferencing market subscriber base is expected to reach 1.1 Billion users by the end 2025 and APAC will account for the maximum number of subscribers
- In terms of revenue, the Market is forecast to grow by 125% in 2020-2021 and 22% in 2022-2025
- The growth in revenue is lesser as compared to the subscriber base in 2022-2025 because the market will become more fragmented and the average price will go down
- Education segment is forecast to become a $3.5 Billion market by 2025 in terms of revenue and reach 295 Million in terms of subscribers
- GoTo Meeting, Cisco Webex, Microsoft teams and Zoom are forecasted to remain the biggest players in terms of revenue as well as subscriber base in 2021. Cisco and Zoom will grow more than GoTo Meeting.
- Zoom is forecast to be the fastest growing company with 252% revenue growth by 2021, Cisco is also forecast to grow by more than 200% by 2021 due to the impact of COVID-19.
The video conferencing was a small on a small scale and very much present in the business and corporate sector. But the pandemic outbreak resulted in lockdown not only increased the presence globally but also expanded the area of presence of these applications to education sector as well. The unprecedented increase in the remote working due to pandemic outbreak the video conferencing sector has benefitted immensely.
- Work Meeting
By Enterprise size
- Small and Medium
- North America
Even though the lockdown is lifted in many countries the ‘work from home’ has continued to be the go to option for the companies and this will continue the growth in the online video conferencing market as the meetings form important part of the job.
Due to schools and colleges being shutdown, apart from the working professionals the video conferencing applications are now extensively used by the educational institutions to conduct the online classes.
Also, to promote the new products various brands and companies from various fields are launching their new products and services via webinars or video conferences.
US VIDEO CONFERENCING MARKET
USA has given rise to various video conferencing platforms and has been the market leader with most number of platforms. The Zoom application in the country is leading the market share distant ahead of other competitors GoTOWebinar and Webex.
The below graph shows the share of various video conferencing platforms:
EUROPE VIDEO CONFERENCING MARKET
Many local developers have come out with the video conferencing application, one such is Pexip a Norwegian company which has raised 92.55 million Euros has been the serious competitor to US platforms. Video conference service provider StarLeaf in UK alone has witnessed an increase in daily call minutes by 947%.
CHINA VIDEO CONFERENCING MARKET
Zoom’s move to suspend the hosting services to Chinese individuals will give rise to the growth of domestic application developers such as Tencent and Alibaba group. The various other features in Dingtalk and Tencent applications such as document sharing has helped these applications to be the primary choice for the public to choose among the different conferencing apps.
JD the latest entrant to the Chinese video conferencing market has launched a new application called JoyMeeting into already crowded Chinese market with other various domestic platforms including ByteDance.
INDIA VIDEO CONFERENCING MARKET
The launch of Indian applications such as VideoMeet from Data Ingenious Global and Greet has paved way for domestic developers. In India the government has extended the work from home option for IT companies in the country till July 31st. IT ministry in India has invited 10 start-ups to develop an indigenous video conferencing solutions after terming Zoom application as unsafe citing privacy and security reasons.
MARKET SIZE AND FORECAST
Asus computer and phone hardware company, is making efforts to promote the video conferencing in the current conditions by launching the “Google Meet hardware kit” in partnership with Google. The kit comprised of a 4k camera, speaker with built-in microphone and an Asus laptop. The product is targeted towards corporate customers.
To take the video conferencing out of a room and to be made available on the move, Tesla’s CEO Elon Musk has announced the video conferencing feature will be feature in the upcoming vehicles.
LATEST TRENDs IN THE MARKET
- Reliance Jio is expected to launch new video conferencing application JioMeet.
- Icewarp US based software company has extended its services to video conferencing solutions.
- Verizon has completed the acquisition of teleconferencing application BlueJeans Netrwork
- Bangalore based firm Kredily has launched a new platform for conferencing called ‘Greet’.
- Norway based Pexip has witness a 50% increase in the annual recurring revenue during the first quarter of 2020.
- Kenyan start-up Usiku Games has developed Africa’s first ever video conferencing platform called Gumzo.
- Tencent has launched its video conferencing app VooV in India region.
- HCL’s Zoho and Hyderabad based PeopleLink are among the 10 selected by the government to develop a made-in-India video conferencing solution. Some of the other
- Zoom has witnessed a huge spike in daily meetings participants compared to last December, from 10 million participants to 300 million participants in April 2020 about 30 times increase in number.
- Dingtalk a Alibaba’s subsidiary announced the platform is used by almost 120 million students and 10 million business across China.
Some of the leading platforms from US are Google’s Meet, Zoom, Microsoft Teams, Cisco’s Webex, Katura, BlueJeans and Icewarp. The Chinese based video conferencing platforms are Tencent Meeting, Dingtalk and Feishu Meeting from ByteDance. Some of the Indian based companies trying to take on foreign video conference tools are Aria Telecom, Zoho, CyberHorizon Corp, Darsh Instrive Softlabs, PeopleLink Unified Communications and Data Ingenious.
Cisco was the second biggest company after GoTo meeting in 2020 in terms of revenue and it was the biggest company in terms of subscriber base.In April 2020, Cisco Webex Hosted 20 Billion Meeting Minutes.
In Q4-2020,Zoom`s combined APAC and EMEA revenue grew 84% year-over-year and represented approximately 20% of revenue. Revenue from the Americas was up 77% year-over-year and represented approximately 80% of revenue. In June 2020, the company became even more valuable than Ebay.
- Google Meet
- Cisco Systems
- Reliance Indistries
- Alibaba Group
|2||Scope of the report|
|7||Insights from Industry stakeholders|
|8||Cost breakdown of Product by sub-components and average profit margin|
|9||Disruptive innovation in the Industry|
|10||Technology trends in the Industry|
|11||Consumer trends in the industry|
|12||Recent Production Milestones|
|13||Component Manufacturing in US, EU and China|
|14||COVID-19 impact on overall market|
|15||COVID-19 impact on Production of components|
|16||COVID-19 impact on Point of sale|
|17||Market Segmentation, Dynamics and Forecast by Geography, 2020-2025|
|18||Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025|
|19||Market Segmentation, Dynamics and Forecast by Application, 2020-2025|
|20||Market Segmentation, Dynamics and Forecast by End use, 2020-2025|
|21||Product installation rate by OEM, 2020|
|22||Incline/Decline in Average B-2-B selling price in past 5 years|
|23||Competition from substitute products|
|24||Gross margin and average profitability of suppliers|
|25||New product development in past 12 months|
|26||M&A in past 12 months|
|27||Growth strategy of leading players|
|28||Market share of vendors, 2020|
|30||Unmet needs and opportunity for new suppliers|