Video Conferencing Market Updates

Video Conferencing Market size was valued at USD 12.7 Billion in 2023 and is poised to grow from USD 13.92 Billion in 2024 to USD 28.93 Billion by 2032, growing at a CAGR of 9.6% during the forecast period (2025-2032).

Key vendors in Video Conferencing Market are: 'Zoom Video Communications (USA) ', 'Logitech (Switzerland) ', 'Poly (formerly Plantronics) (USA) ', 'BlueJeans by Verizon (USA) ', 'Pexip (Norway) ', 'Lifesize (USA) ', 'StarLeaf (UK) ', 'Avaya (USA) ', 'Vonage (USA) ', 'Jitsi (8x8) (USA) ', 'Yealink (China) ', 'Vidyo (Enghouse Systems) (Canada) ', 'TrueConf (Russia) ', 'GoTo (formerly LogMeIn) (USA) ', 'Aver Information (Taiwan) ', 'Kaltura (USA) ', 'Highfive (by Dialpad) (USA) ', 'BigBlueButton (Canada) ', 'Whereby (formerly appear.in) (Norway) ', 'EZTalks (China) '.

Institutions, schools, universities, and K-12 have adopted conferencing solutions to facilitate distance learning as a substitute for traditional classrooms. The growing demand for flexible learning options and the shift towards digital education have driven many institutions to collaborate with video communication services to expand remote learning opportunities.

Advances Using AI for Smart Manufacturing: Artificial intelligence (AI) integration has been a game-changer in video conferencing platforms, enhancing user experience and productivity. Features such as real-time transcription, automated meeting summaries and noise cancellation are becoming standard, as it makes virtual meetings more efficient and convenient. Companies like Zoom, Microsoft Teams, and Cisco Webex are using AI to stay competitive and meet the growing demand for intelligent video conferencing solutions. 

The video conferencing market in North America accounted for the largest revenue share of over 38% in 2023. The strong presence of various major technology companies, such as Microsoft Corporation, Google LLC, Cisco Systems, Inc., etc., providing high-end collaboration tools is contributing to the market growth. The growing regional telecom segment is aided by government initiatives to encourage the expansion of 5G networks in the region, further driving the adoption of video conferencing tools. For instance, in April 2023, the U.S. government launched the Public Wireless Supply Chain Innovation Fund to invest USD 1.5 billion in the development of open and interoperable networks. This funding is aimed at strengthening the future of 5G and next-gen wireless technologies in the country by demonstrating the viability of new, open-architecture approaches to wireless networks.