The global videoconferencing market size was US$ 5.1 billion in 2021. The global video conferencing market is forecast to grow to US$ 11.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2022 to 2030. 
With the help of a technology called video conferencing, people can connect in person from different locations without having to travel to far-off places to present in person. Businesses in different cities or countries benefit from video conferencing as it reduces expenses, time, and aggravations associated with business travel.

Factors Influencing the Market
The global video conferencing market is expected to record potential growth due to the growing preference for working from home. Moreover, a growing number of enterprises and institutions are adopting video conferencing as an ideal method to launch meetings, conferences, events, etc. Apart from that, factors like growing knowledge about the perks of video conferencing, combined with the rising use of software and tools for e-learning, are forecast to bring lucrative growth opportunities for the videoconferencing market during the study period. 
Benefits of videoconferencing, such as deduction in the cost spent on traditionally educational modules, higher income, increased productivity, etc., are expected to prompt the adoption of videoconferencing during the study period. 
On the flip side, a lack of technological infrastructure may limit the growth of the videoconferencing market during the study period.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the demand for videoconferencing decreased substantially. It is owing to the growing range of work-from-home policies embraced by most multinational organizations. Apart from that, organizations started adopting highly efficient systems to launch events and meetings associated with work, which led to a major increase in the videoconferencing market in terms of revenue. Governments also started holding meetings and conferences through videoconferencing tools in order to maintain the safety of the staff. For instance, the 8th ICLR 2020, earlier scheduled in March 2020, was cancelled and rescheduled in April 2020 as a virtual conference.

Regional Analysis
The Asia-Pacific videoconferencing market will hold the highest portion of share among all the regions. It is owing to the region being the fastest-growing area. Further, the growing adoption of online high schools, growing demand for jobs, increased mobile penetration, and increased content digitization will contribute to the growth of the Asia-Pacific videoconferencing market during the study period. Further, government interventions in national online education networks and the shortage of efficient teachers will bring lucrative growth opportunities for the videoconferencing market during the study period.

Competitors in the Market
• Adobe Inc.
• Array Telepresence Inc
• Avaya Inc.
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd
• Logitech International S.A.
• Microsoft Corporation
• Plantronics, Inc.
• Vidyo Inc.
• West Corporation
• Other Prominent Players

Market Segmentation
The global videoconferencing market segmentation focuses on End-User, Offerings, and Region. 
By End User Type
• Corporate
• Education
• Healthcare
• Government & Defense
• BFSI
• Media & Entertainment
• Others
By Offerings
• Hardware
• Software
• Services
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America