An Incisive, In-depth Analysis on the Conference Room Solutions Market
This study offers a comprehensive, 360 degree analysis on the Conference Room Solutions market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Conference Room Solutions market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Managed Network Service Providers and Telecom Service Providers are contributing to the Growth of the Conference Room Solution Market
Conference room solution are a combination of certain software and software related services that connect enterprises with their clients over an internet network. Conference room solutions include video as well as audio conferencing solutions. Major stakeholders of conference room solutions include software providers, communication device OEMs and managed network service providers. Third party managed networks service providers are slowly and gradually becoming overall solution provider of conference room solution. Telecom service providers have also started the offering of conference room solution, hence contributing significantly in the growth of the conference room solution market.
SaaS Segment is the Primary Contributor to the Growth of the Conference Room Solution Market
In this report, FMI has segmented the global conference room solution market on the basis of component, deployment, organization size, vertical and region. By component, the conference room solution market can be segmented into software and services. By deployment, the market has been segmented into on-premises and SaaS.
The software-as-a-service (SaaS) segment drives the growth of the global conference room solution market, owing to increasing trend of cloud- and web-based solutions. In addition, the adoption of Internet-based technologies by several industry verticals is surging the growth of the conference room solution market.
IT and Telecom Sector is expected to Account for the Highest Market share in the Global Conference Room Solution Market
On the basis of vertical, the market has been segmented into BFSI, transportation & logistics, manufacturing, retail and consumer goods, IT and telecom, media & entertainment, government, energy and utility, education, healthcare and others. The IT and telecom segment accounted for the highest market share of 15.6% in 2016 in the global conference room solution market. The media and entertainment segment is expected to register a healthy CAGR of 15.0% during the forecast period in the conference room solution market.
Telecom service providers (TSP) across the world are going through digital transformation to increase their network’s internet speed and enhance customer satisfaction. In the process, TSPs are spending millions of dollars as capital expenditure as profits are expected to remain elusive with legacy data and voice services in the near future. To timely achieve break-even, it’s high time for telecom service providers to become end-to-end IT solution providers. TSPs need to collaborate with conference room solution providers and offer unified communication services to enterprises.
Enterprise Mobility Trend in North America is expected to boost the Overall Conference Room Solution Market
On the basis of geography, North America is expected to dominate the global conference room solution market, owing to the technological advancements in the U.S. and Canada. Advancements in enterprise mobility technology are expected to propel the conference room solution market in North America. Moreover, the region has witnessed widespread deployment of IoT and communication technologies over the past couple of years, which is fuelling the growth of the conference room solution market in North America.
A number of enterprises in North America, especially the United States, are looking to build multinational conferencing facilities. Such enterprises normally face challenges such as unauthorized access to the company’s bridge and network. If a company has frequent conferences that include participants from various other regions of the world, the chances of spotting fraudulent activities become low. Therefore, such companies must plan to combat fraud and should build processes and technologies to enhance security.
In Europe, various enterprises are adopting conference room solutions that help them enhance their communication networks and drive increased productivity and greater visibility across all functions of the enterprises. Companies in various industrial sectors such as manufacturing, IT and telecom, BFSI, and transportation & logistics are moving forward to adopt conference room solutions to reduce errors, misunderstandings, and communication barriers, and to improve the quality of group work outputs. Due to this factor, the demand for high-performance conferencing solutions is increasing, which is ultimately driving the growth of the conference room solution market.
According to FMI analysis, technology partnerships with telecom service providers and cloud service providers are likely to increase revenue and new innovation strategies are estimated to enable conference room solution vendors to reach new growth markets. Some of the key players in the global conference room solution market include Cisco Systems, Inc., Microsoft Corporation, Polycom Inc., Zoom Video Communications Inc., Google, West Corporation, LogMeIn Inc., Adobe Systems Incorporated, Blue Jeans Network and Premiere Global Services, Inc.
Key Developments in the Conference Room Solution Market
In June 2017, Cisco Systems, Inc. enhanced its partnership with Apple, an American multinational technology company, in order to broaden support for optimized Apple devices on Cisco networks. With this partnership, the company plans to enhance the capabilities of its Cisco WebEx, so that when joining a Cisco meeting from an iOS device, users will be able to seamlessly share their screen real time with other meeting participants. Also, infrequent users of Cisco WebEx will be able to quickly join on Safari with full audio, video, and presentation viewing capabilities
In October 2017, Adobe Systems Incorporated launched Adobe Connect 9.7, which provides customers with a faster way to join and manage meetings from a desktop. With the new Adobe Connect applications, users do not need Adobe Flash player installed or enabled in browsers to join or conduct meetings, and this application is available for both, Microsoft Windows and Apple Macintosh users
In July 2017, Polycom Inc. acquired a contract from CavinCare, an Indian conglomerate company, in order to improve employee engagement at CavinCare. As a strategic vendor, Polycom provides conferencing and collaboration solutions to CavinCare, which helps it to arrange frequent and recurrent meetings in order to collaborate, share feedback, and expedite its business
Future Market Insights (FMI) offers a 10-year forecast for the conference room solution market between 2017 and 2027. In terms of value, the market is expected to register a double-digit CAGR during the forecast period. This study demonstrates the global conference room solution market dynamics and trends across seven regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and MEA, which influence the current nature and future status of the conference room solution market.
This research report provides a detailed analysis of the conference room solution market and offers insights on the various factors driving the popularity of conference room solutions. The report includes an extensive analysis of key industry drivers, challenges, market trends and market structure. The conference room solution market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the market on the basis of technology, application and different regions globally.
The conference room solution market is expected to witness significant value growth during the forecast period, owing to an increase in the demand for cloud communication solutions and data-driven technologies from various industry verticals.
The report starts with an overview of the conference room solution market in terms of value. In addition, this section includes an analysis of key trends, drivers and challenges from the supply, demand and economy side, which are influencing the conference room solution market.
The conference room solution market has been classified on the basis of component, deployment, organization size, vertical, and region. By component, the conference room solution market has been segmented into software and services. By deployment, the global conference room solution market has been segmented into on-premises and SaaS. On the basis of organization size, the market has been segmented into SMEs and large enterprises. The SaaS segment accounted for a relatively higher share, owing to an increase in the demand for cloud-based solutions.
In the past few years, it has been observed that many small and medium enterprises in countries such as the U.K., Germany, and France are adopting advanced conference room solutions to reduce the complications in conferencing and to improve the communication between employees. This trend of adopting advanced conference room solutions is expected to continue in the coming years.
A detailed analysis has been provided for every segment in terms of market size analysis for the conference room solution market across different regions. This section provides a detailed analysis covering key trends.
The next section contains a detailed analysis of the conference room solution market across various countries in the region. It provides a market outlook for 2017–2027 and sets the forecast within the context of the conference room solution market, which includes latest technological developments as well as offerings in the market. This study discusses key trends within countries contributing to growth of the market as well as analyses the degrees at which the drivers are influencing this market in each region. Key regions and countries assessed in this report include North America (the U.S. and Canada), Latin America (Brazil, Mexico and the Rest of Latin America), Western Europe (the U.K., France, Germany, Italy, Spain, BENELUX and the rest of Western Europe), Eastern Europe (Russia, Poland and the rest of Eastern Europe), APEJ (China, India, Australia & New Zealand, ASEAN and the rest of APEJ), China, Japan and MEA (GCC Countries, Turkey, South Africa, Northern Africa and the rest of MEA). This report evaluates the present scenario and the growth prospects of the conference room solution market across various regions globally for the period 2017 –2027. We have considered 2016 as the base year and provided data for the remaining 12 months.
To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the conference room solution market will grow in the future. Given the characteristics of the market, we have triangulated the outcome of different types of analysis based on the technology trends.
As previously highlighted, the global conference room solution market has been split into a number of segments. All segments in terms of component, deployment, organization size, vertical and different regions are analysed in terms of basis points to understand the relative contributions of individual segments to market growth. This detailed information is important for the identification of various key trends in the global conference room solution market.
In addition, another key feature of this conference room solution market report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective in the global conference room solution market.
In the final section of the conference solution market report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the conference room solution market and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the conference room solution supply chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the conference room solution market. Some of the key competitors covered in the conference room solution market report are Cisco Systems, Inc., Microsoft Corporation, Polycom Inc., Zoom Video Communications Inc., Google, West Corporation, LogMeIn Inc., Adobe Systems Incorporated, Blue Jeans Network and Premiere Global Services, Inc.
Conference Room Solutions Market Reports - Table of Contents
12. Forecast Factors: Relevance and Impact
13. Forecast Assumptions
20. Assumptions & Acronyms Used
21. Research Methodology