PUBLISHER: The Business Research Company | PRODUCT CODE: 1703155
PUBLISHER: The Business Research Company | PRODUCT CODE: 1703155
Cloud video conferencing technology facilitates real-time video communication via the internet using cloud-based services. It enables participants to engage in virtual meetings from any location, utilizing devices such as computers, tablets, and smartphones. With features such as high-definition video, screen sharing, and collaboration tools, this technology enhances the efficiency and effectiveness of remote communication.
Cloud video conferencing can be categorized into hardware and software types. Hardware encompasses the physical components of a computer, including the processor, memory, motherboard, storage drives, and other tangible devices. These solutions are deployed through the cloud and on-premise, catering to a range of end-users such as banking, financial services, and insurance (BFSI), manufacturing, information and communications technology (ICT), healthcare, among others.
The cloud video conference market research report is one of a series of new reports from The Business Research Company that provides cloud video conference market statistics, including cloud video conference industry global market size, regional shares, competitors with a cloud video conference market share, detailed cloud video conference market segments, market trends, and opportunities, and any further data you may need to thrive in the cloud video conference industry. This cloud video conference market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cloud video conferencing market size has grown rapidly in recent years. It will grow from $10.4 billion in 2024 to $11.88 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to advancements in internet technology, increasing remote work trends, improvements in video compression technology, globalization and the need for international collaboration, and widespread adoption of mobile devices.
The cloud video conferencing market size is expected to see rapid growth in the next few years. It will grow to $20.03 billion in 2029 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to rowing remote and hybrid work models, advancements in AI and machine learning, increasing need for virtual collaboration tools, rising adoption of 5G technology, and expansion of cloud infrastructure. Major trends in the forecast period include enhanced integration with productivity tools, increasing focus on security and privacy, growth in virtual and augmented reality applications, expansion of industry-specific solutions, and rise of AI-powered features and analytics.
The growing need for managing a virtual workforce is expected to drive the growth of the cloud video conferencing market. A virtual workforce refers to a work setting where employees perform their tasks remotely using technology such as laptops, smartphones, and video conferencing tools. The increasing demand for managing virtual teams is driven by factors such as globalization, technological advancements, changing workforce expectations, cost-saving opportunities, demographic shifts, and the need for scalability. Cloud-based video conferencing solutions support virtual workforce management by providing accessibility, scalability, cost-effectiveness, flexibility, security, reliability, and facilitating remote work policies. For example, in February 2023, according to The Office for National Statistics, a Wales-based non-ministerial department, data from Great Britain showed that 16% of individuals worked exclusively from home from September 2022 to January 2023, while 28% reported a mix of working from home and commuting to their workplace. As a result, the rising need for virtual workforce management is fueling the growth of the cloud video conferencing market.
Key players in the cloud video conferencing market are actively developing artificial intelligence (AI) video conferencing solutions to enhance user experience and boost video productivity. These AI-driven solutions aim to streamline meeting processes, enhance communication quality, and deliver valuable insights, thereby improving the overall effectiveness of virtual collaboration. For instance, in January 2024, Thundercomm, a US-based technology firm, unveiled a comprehensive suite of AI video conferencing solutions designed to elevate the efficiency and experience of business communication and collaboration. Leveraging powerful video collaboration platforms from Qualcomm Technologies and Rubik's large language model services, these solutions enable the deployment of optimized models locally on video collaboration devices with minimal latency and enhanced security.
In August 2022, HP Inc., a US-based IT company, completed the acquisition of Poly for $3.3 Billion. This strategic move by HP Inc. aims to broaden its portfolio by integrating Poly's expertise, thus creating a more growth-oriented portfolio and reinforcing its position in hybrid work solutions. The acquisition positions the combined organization for long-term sustainable growth and value creation, leveraging Poly Inc.'s offerings in cloud video conferencing solutions.
Major companies operating in the cloud video conferencing market are Microsoft Corporation, Huawei Technologies Co. Ltd., NTT Ltd., Tencent Holdings Ltd., Cisco Systems Inc., NEC Corp., ZTE Corp., Zoom Video Communications Inc., Avaya Inc., Poly, Yealink Inc., Kedacom, Sangoma Technologies Corp., Lifesize Inc., Webex Communications Inc., BlueJeans Networks Inc., Pexip AS, Owl Labs Inc., ClearOne Inc., Qumu Corporation, Starleaf Ltd., Vidyo Inc., Fuze, TKO Video Communications, Tely Labs
North America was the largest region in the cloud video conferencing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud video conferencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cloud video conferencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cloud video conferencing market consists of revenues earned by entities by providing services such as cloud-hosted video meetings, meeting recordings, webinars, integration with calendar services, and extensive collaboration tools. The market value includes the value of related goods sold by the service provider or included within the service offering. The cloud video conferencing market also includes sales of cloud-based video conferencing platforms, integrated video conferencing systems, and desktop video conferencing software. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cloud Video Conferencing Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cloud video conferencing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cloud video conferencing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cloud video conferencing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.