Posted On: 2021-07-16
Hardware type video conferencing solutions held the largest revenue share in 2020 in Middle East video conferencing market - 6Wresearch
Middle East 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.
According to 6Wresearch, Middle East Video Conferencing Market size is projected to grow at a CAGR of 12.9% during 2021-27F. Presently, UAE acquires the maximum share in the overall revenues of the video conferencing market on account of the increased operation of hardware companies and tech giants in Dubai and Abu Dhabi coupled with the increasing local investments to boost video conferencing as a service (VCaaS). Further, during the outbreak of COVID-19 in March 2020, the usage of video conferencing in UAE has increased drastically. UAE lifted bans on video conferencing apps amid lockdown which gave a significant boost to the video conferencing market. Moreover, government’s policy to reduce workforce by 30% in every premise gave a rise in remote working culture which also led to a spurring growth in video conferencing market of UAE.
According to Eshita Goel, Research Analyst, 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 5G industry in the region 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 Bhawna Singh, Research Associate, 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 region 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 Middle East video conferencing market includes Cisco Systems, Inc., Plantronics, Inc., Zoom Video Communications, Inc., Logitech, Huawei Technologies Co., Ltd. and such other players.
Middle East Video Conferencing Market (2021-2027) report provides an in-depth analysis with 125 figures and 31 tables covered in 186 pages. The report estimates and forecasts the overall Middle East Video Conferencing Market by 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.