The all-engulfing COVID-19 has undoubtably changed the working world, propelling the need for video conferencing forward, driving awareness and adoption to unprecedented heights across both the professional and personal landscapes. This surge in use drove the Video Conferencing (VC) hardware market to experience a 40% Year-on-Year growth in volume in 2020.
Furthermore, according to this latest Video Conferencing report from Futuresource Consulting, lower-end cloud conferencing peripherals such as conferencing cameras and collaboration bars saw 58% Year-on-Year volume growth, with the shift to home working in 2020 key.
“The tremendous economic and social disruptions from the worldwide Coronavirus pandemic have significantly accelerated existing market trends towards hybrid office/home working with video conferencing at the very heart of this” stated Adam Cox, Head of Imaging, Pro Video & Collaboration at Futuresource Consulting. “In addition to this, the past couple of years have experienced a democratisation of video communications, bringing the technology to a much wider audience and, with this, bringing a greater range of vendors to the market”.
The change in working practices brought on by C-19 were dramatic; now that populations are getting vaccinated and companies are considering the return to work in a new normality, what will this look like? Futuresource Consulting maps out video and audio-conferencing behaviour in this report together with forecasts in volume, value, and brand perspectives.
“The long term fall out from COVID-19 means that hybrid working is here to stay and so meeting rooms need to be kitted out with tech that reflects the needs for both in-room and remote meeting participants equally” commented Adam Cox. “76% of people who worked from home during the pandemic expect to work at least one day a week from home when COVID-19 passes”.
Audio and Video Conferencing is an exciting and diverse market, extending from low cost and widespread Cloud based Solutions all the way to highly specialised Telepresence Suites. Demand for audio and video collaboration technologies is at an all-time high as businesses are equipping their employees for the new hybrid world of working. There will also be a desire to connect employees virtually and physically with teams in the office, as well as engage with third parties and customers across longer distances.
The report consists of interviews conducted among the top VC hardware manufacturers, platform providers and channel partners across the globe. In addition to this, 1000 corporate VC users were interviewed across France, Germany, UK and USA. It covers cloud conferencing peripherals, room hubs, team collaboration displays, integrated codec solutions, telepresence and cloud VC platforms. A mix of market sizing also covers Americas, EMEA, APAC and China together with end user research covering France, Germany, UK & USA.
To understand the full impact of COVID-19 on the VC market and to understand the future of the hybrid meeting room, find out more about our latest report here.
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