Global Video Conferencing Devices Market Report 2023-2028: Challenging Market Conditions and Cautionary Enterprise Spending Put Brakes on Growth, Long-term Momentum for Video Adoption will Continue

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Feb 22, 2024, 10:45 ET

DUBLIN, Feb. 22, 2024 /PRNewswire/ -- The "State of the Global Video Conferencing Devices Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The $3.28 billion global video conferencing devices market is undergoing fundamental shifts due to massive work and workplace transformation. In 2023, most customers took a measured approach to video-enabling meeting rooms, focusing first on bringing employees back to the office.

The 5-year revenue compound annual growth rate (CAGR) is a robust 16.8 percent driven by greater video-enablement of meeting spaces for better hybrid work. Video conferencing penetration rate will more than double from 2020 to 2028.

Adverse macroeconomic conditions, geopolitical instability, and budgetary constraints put additional pressure on market growth. Despite challenging market conditions, the value of video communications has become deeply entrenched across all industries, creating an upward market trajectory.

Ongoing progress in return-to-office plans combined with secular trends in hybrid work and team collaboration will boost the demand for intelligent video devices. The market is expected to see gradual improvements and is forecasted to return to growth mode in 2024. AI is the key market driver, removing many friction points that have hindered video adoption in the past. It is the overarching technology driving much of the innovation in meeting software and devices. Vendors are leading with AI-based feature sets to enhance the user experience, offer meeting equality, and provide automation and room insights.

Customer organizations and market participants including technology vendors, service providers, channel partners, resellers, IT/telecom decision-makers, among others will find value in leveraging the findings of this study to develop sustainable workplace growth strategies.

9 Growth Opportunity Universe

Growth Opportunity 1: AI as a Growth Engine
Growth Opportunity 2: Meeting Equality
Growth Opportunity 3: BYOD Enablement

Key Topics Covered:

1 Strategic Imperatives

Why is it Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top 3 Strategic Imperatives on Video Conferencing Devices
Growth Opportunities Fuel the Growth Pipeline Engine

2 Market Overview

Scope of Analysis
Market Segmentation
Segmentation by Room Size
Target Markets
Choice of Deployment Options

3 Key Findings

Adoption Trends in 2024 and Beyond
Market Overview
Key Growth Metrics

4 Hybrid Work Trends

Transformational Shifts
Emerging Work Models
Current Work Model
Shifting Workplace Plans
Key Capabilities for Room Video Conferencing Devices
Migration to Cloud Video Conferencing
Strong Focus on AI and ESG

5 Emerging Trends

Workplace Optimization for Hybrid Work
AI-led Innovation is Table stake
Multimodal AI Creates Growth Opportunities - Analyzing Data in Video, Image, and Text Formats
Sustainability is a Key Differentiator

6 Total Video Conferencing Devices Forecast

Video Conferencing Devices - Total Addressable Market (TAM)
Growth Drivers
Growth Restraints
Forecast Assumptions
Total Market - Revenue and Unit Shipment Forecast
Total Market - Revenue Forecast by Device Type
Total Market - Unit Shipment Forecast by Device Type
Total Market - Average Pricing Forecast by Device Type
Total Market - Percent of Revenue by Device Type
Total Market - Percent of Unit Shipment by Device Type

7 Room Devices Forecast

Room Devices - Key Growth Metrics
Meeting Room Count and Video Conferencing Penetration Rate
Room Devices - Revenue and Unit Shipment Forecast
Room Devices - Revenue Forecast by Meeting Room Size
Room Devices - Units Forecast by Meeting Room Size
Room Devices - Percent of Revenue Forecast by Room Size
Room Devices - Percent of Unit Forecast by Room Size
Room Devices - Percent of Revenue by Region

8 Room Devices - Competitive Landscape

Competitive Environment
Room Endpoints - Revenue Share
Room Endpoints - Unit Share
USB Conference Room Cameras - Revenue Share
USB Conference Room Cameras - Unit Share
Key Competitors

For more information about this report visit https://www.researchandmarkets.com/r/9s9my5

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