Europe Video Conferencing Market By Component (Hardware, Solution and Services), By Deployment Type (On-Premise and Cloud), By Application (Corporate Communications, Training & Development, Marketing & client Engagement and Others), By Industry Vertical (BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Education, Media & Entertainment and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Europe Video Conferencing Market would witness market growth of 15.1% CAGR during the forecast period (2021-2027). The introduction of 5G technology, which utilizes Voice over Internet Protocol (VoIP) technology, is offering new growth prospects for the enterprises operating in the developed nations like the UK, and Germany. To fully utilize these opportunities, companies like Cisco Systems and Microsoft Corporation are focusing on the development of video conferencing systems, which automatically direct calls over the VoIP network. Moreover, the video conferencing market has acquired substantial growth due to the growing adoption of cloud-based communication solutions, like Zoom and AvayaLive Video.
The increasing adoption of cloud-based video communication solutions like Skype, Zoom and others across various industries verticals would augment the growth of the market. There are a wide variety of capabilities offered by a cloud-based solution like the ease of access from anywhere across the globe. In addition, the cloud-based video communication solutions have the features to provide effortless connectivity and help in resolving problems regarding virtual interactions.
Thus, the requirement for advancement and productivity in companies would support the growth of the market. However, these solutions help in boosting business productivity, maximizing and enhancing the decision-making process, and decrease the overall costs. In addition, key market players are aiming at introducing new products to attain a competitive edge in the market.
The presence of many key video conferencing solutions providers in this region would augment the regional market growth. In addition, companies like GoToMeeting and Pexip are offering their advanced solutions to the customers in the market, which motivate more companies to adopt & implement their solutions for better communication medium. Increasing spending of the companies across the region on better technology will also augment the regional growth.
A wide range of customized offerings by the key vendors is accelerating the adoption of the video conferencing solutions by the small and medium enterprises in this region. It will further augment the demand for such kind of solutions in the regional market. The adoption rate of any advance technology is significantly high in this region, which is estimated to positively impact the growth of the regional market.
The Germany market dominated the Europe Retail & eCommerce Video Conferencing Market by Country 2020, thereby, achieving a market value of $96.4 million by 2027. The UK market is showcasing a CAGR of 15.3% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 17% during (2021 - 2027).
Based on Component, the market is segmented into Hardware, Solution and Services. Based on Deployment Type, the market is segmented into On-Premise and Cloud. Based on Application, the market is segmented into Corporate Communications, Training & Development, Marketing & client Engagement and Others. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Education, Media & Entertainment and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Video Conferencing Market Size will Hit $21.8 Billion by 2027, at a CAGR of 16%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Adobe, Inc., Google, Inc., Amazon.com, Inc., Logitech International S.A., Avaya Holdings Corporation, Plantronics, Inc. (Polycom, Inc.), and Zoom Video Communications, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Deployment Type
- Corporate Communications
- Training & Development
- Marketing & client Engagement
By Industry Vertical
- IT & Telecom
- Retail & eCommerce
- Government & Defense
- Media & Entertainment
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Microsoft Corporation
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Adobe, Inc.
- Google, Inc.
- Amazon.com, Inc.
- Logitech International S.A.
- Avaya Holdings Corporation
- Plantronics, Inc. (Polycom, Inc.)
- Zoom Video Communications, Inc.
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