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. 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.
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.
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.
Author: Roopam jain
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on Video Conferencing Devices
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Market Segmentation
Segmentation by Room Size
Target Markets
Choice of Deployment Options
Adoption Trends in 2024 and Beyond
Market Overview
Market Overview (continued)
Market Overview (continued)
Market Overview (continued)
Key Growth Metrics
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
Workplace Optimization for Hybrid Work
Workplace Optimization for Hybrid Work (continued)
AI-led Innovation is Table stake
AI-led Innovation is Table stake (continued)
Multimodal AI Creates Growth Opportunities—Analyzing Data in Video, Image, and Text Formats
Sustainability is a Key Differentiator
Video Conferencing Devices—Total Addressable Market (TAM)
Growth Drivers
Growth Restraints
Forecast Assumptions
Forecast Assumptions (continued)
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
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
Competitive Environment
Room Endpoints—Revenue Share
Room Endpoints—Unit Share
USB Conference Room Cameras—Revenue Share
USB Conference Room Cameras—Unit Share
Key Competitors
Growth Opportunity 1: AI as a Growth Engine
Growth Opportunity 1: AI as a Growth Engine (continued)
Growth Opportunity 2: Meeting Equality
Growth Opportunity 2: Meeting Equality (continued)
Growth Opportunity 3: BYOD Enablement
Growth Opportunity 3: BYOD Enablement (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
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| Deliverable Type | Market Research |
|---|---|
| Author | Roopam Jain |
| Industries | Telecom |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Video Conferencing Trends |
| Keyword 2 | Video Conferencing Device |
| Keyword 3 | Communication Technology Trends |
| Podcast | No |
| Predecessor | K7DO-01-00-00-00 |
| WIP Number | K95D-01-00-00-00 |
State of the Global Video Conferencing Devices Market Forecast to 2028
Challenging Market Conditions and Cautionary Enterprise Spending Put Brakes on Growth: Long-term Momentum for Video Adoption will Continue
22-Dec-2023
Global
Market Research