Posted On: 2021-04-26
Hardware type video conferencing solutions held the largest revenue share in 2020 in India video conferencing market - 6Wresearch
India video conferencing market has witnessed sound digital growth in recent years mainly driven by the transition of the corporate sector towards globalization from the past decade. Additionally, the growing trend of work from home due to the outbreak of the COVID-19 pandemic in 2020, which resulted in a nationwide lockdown, coupled with cost-saving options provided by the video conferencing software would further propel the market growth in the near future. In addition to this, approval of the Make-in-India plan of Apple’s manufacturing partners by the Government of India and the entry of Tesla in the Indian market would be the significant factors behind the increasing adoption of video conferencing solutions in the Indian market as these MNCs would be extensively using such solutions for the strategic discussion with their newly established offices/plants in the country.
According to 6Wresearch, the India video conferencing market size is projected to grow at a CAGR of 1.5% during 2021-2027F. Presently, the southern region acquires the maximum share in the overall revenues of the video conferencing market on account of the increased operation of software companies and tech giants in South India coupled with the increasing local investments to boost video conferencing as a service (VCaaS). However, the northern region is anticipated to register the highest growth rate in the overall India video conferencing market during the forecast period owing to the increased adoption of the video conferencing solution by the government and the presence of the majority of the government agencies in the Northern region of the country.
According to Ravi Bhandari, Senior Manager Operations, 6Wresearch, “Based on sectors, the corporate sector registered the highest market share in the video conferencing market for the year 2020 owing to the rising adoption of tech-savvy collaboration solutions for the betterment of businesses. Further, a spur in the growth and development of the software industry in the country coupled with digital transition has induced the need for technically advanced collaboration solutions in the corporate sector. Moreover, the video conferencing platform has encouraged faster decision making and has brought improvements in global business collaborations irrespective of the location of the person attending the online meeting sessions.
According to Sarthak Bansal, Senior Research Analyst, 6Wresearch, “Based on types, hardware type video conferencing solutions accounted for the highest revenue share for the year 2020 owing to the increased adoption of digital platforms by various business organizations in the country to enhance the smooth working of their business operations. Moreover, the introduction of Internet of Things (IoT) technology coupled with the user-friendly platform assistance provided by the hardware segment for video conferencing is the primary driver for the growth of hardware components of the India video conferencing market.
Some of the major companies in the India video conferencing market includes Cisco Systems, Inc., Plantronics, Inc., Zoom Video Communications, Inc., Logitech, Huawei Technologies Co., Ltd. and such other players.
India Video Conferencing Market (2021-2027) report provides an in-depth analysis with more than 27 figures and 4 tables covered in more than 87 pages.” The report estimates and forecasts the overall India Video Conferencing Market by revenues, types, sectors and regions. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.