Impact of Covid-19 on Best Video Conferencing Market
Market OverviewVideo Conferencing Market is anticipated to surpass USD 45 billion by 2026, according to 360Quadrants analysis. The rising demand for Best video conferencing software is shaping the market growth. Quicker acceptance of cloud-based solutions and amalgamation of 3D technology have improved the quality of communication. Video conference solutions also offer immersive telepresence and real depiction of all members. It ensures real-time interactions of members in a conference room. In addition, the technology providers are also assimilating ground-breaking technologies, such as AR/VR, for spreading the capabilities of solutions.
Also, there has been a momentous rise in the practice of telepresence in the education and healthcare areas as it provides a realistic way of communication amongst the participants. In the healthcare segment, telepresence robots help in offering a virtual remote presence, allowing doctors to support their patients placed at a remote location. Expansion of 5G technology that leverages VoIP technology is offering profitable chances for the companies in advanced economies. To take advantage of these occasions, market players such as Cisco and Microsoft are highlighting the development of video conferencing systems that mechanically direct call over the VoIP network. Impact of Covid-19 on Video Conferencing MarketWith the impact of the current COVID-19 pandemic and disruptions in large meetings, demand for remote training is growing, ultimately driving the demand for video conferencing solutions. Numerous global companies like Microsoft, Google, Apple, Amazon etc. have broadcasted compulsory work-from-home policies to stop the spread of COVID-19. The quickly growing cases of virus has demanded video conferencing software as the business travel, educational institutes, conferences are cancelled internationally. Though the Top video conferencing market is growing owing to the outburst of COVID-19, this aspect in itself may also delay the market growth, mainly of the hardware constituent segment. Furthermore, governments of a few countries have instructed the service providers to decrease the video quality of these services. Since the lockdown, there has been growth in the usage of internet for work related activities as well as for streaming purposes. Several network operators have reported augmented straining on their networks owing the above-mentioned factors. This is likely to impact the acceptance of these systems. Top 10 Upcoming Video Conferencing Products in 2020The demand for video conferencing solutions has been growing rapidly as companies are choosing video conferences due to the current pandemic outbreak. Also, the usage of video conferencing solutions has spiked in 2020. For instance, Zoom has documented a rise in more active users so far this year as compared to that in 2019. 360Quadrants has analysed the Video conferencing market and has identified top 10 best upcoming products in the market based on various critical parameters. These top products have been highlighted below:
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