According to the new research report titled “Video Conferencing Market Forecast to 2027- COVID-19 Impact and Global Analysis”, published by The Insight Partners, the market is expected to reach US$ 12,005.7million by 2027, registering a CAGR of 8.6% during 2020–2027.
The countries in APAC are consistently witnessing growth in corporate, healthcare, and education sectors. The proliferation rate of technologies is noteworthy in the sectors mentioned above, and the demand for video conference solutions continues to rise in every meeting space and not just executive boardrooms.
The healthcare sector in APAC countries are profoundly growing, and the adoption of medical technologies such as automatic testing systems, robotics-aided surgeries, and automatic data readers, as well as nonmedical technologies including high-end CCTV cameras, tele-medication systems, online consultation, and video conferencing solutions is at a peak. The adoption of video conference solutions is rising to facilitate the doctors to treat patients located in remote area lacking basic medical facilities. In addition, the emergence of cost-effective solutions, easy and efficient video conferencing solutions are influencing the healthcare sector to invest in video conferencing solutions to conduct doctor webinars and meetings.
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The video conferencing market in APAC is anticipated to grow on the back of the rise in demand for technologies such as 4K video conferencing systems, wireless meeting rooms, and content sharing devices, along with the easy availability of the same. In addition, the development of a 5G network is accentuating at a rapid rate, which is also foreseen to boost the video conferencing market.
The continuously growing economies in this region include China, India, Japan, South Korea, Singapore, Taiwan, and Malaysia, among others. The cultures of a remote office, home office, and coworking spaces are tremendously growing in the region, which is encouraging the individuals to incorporate video conferencing solutions into their systems. In addition, several organizations are transitioning from large conference rooms to smaller hurdle rooms with an objective to utilize maximum office space for employee engagement.
The Asian countries houses a large number of technology developing companies. These companies constantly engage themselves in developing robust technologies to ease lifestyle. China, India, Japan, and South Korea, are among the leading countries with large number of technology developing companies, and pertaining to this, the adoption of advanced technologies is higher in these countries. The growing demand for video conferencing solutions is reflecting emergence of numerous video conferencing hardware manufacturers, software developers, and service providers. This factor is driving the video conferencing market.
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