The global conference room solutions market is estimated at US$ 1,521.9 million in 2023. The market is projected to reach US$ 6,068.1 million by 2033, exhibiting a CAGR of 14.8% from 2023 to 2033.
The market is expected to grow significantly as a result of several factors, including an expanding need for dependable and cost-effective conference room solutions, investments in digitizing the workspace, rising demand for high-performance conferencing solutions, and the growing array of cost-effective conferencing solutions software, as well as relevant breakthroughs in technology.
| Attributes | Details |
|---|---|
| Conference Room Solutions Market Value (2022) | US$ 1,344.4 million |
| Conference Room Solutions Market Value (2023) | US$ 1,521.9 million |
| Conference Room Solutions Market Expected Value (2033) | US$ 6,068.1 million |
| Conference Room Solutions Market Projected CAGR (2023 to 2033) | 14.8% |
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Many small and medium-sized businesses around the world have adopted advanced conference room solutions in past years to simplify conferencing and improve employee communication. FMI has projected the global Conference Room Solutions market to witness a growth in revenue from US$ 1,521.9 million in 2023 to US$ 6,068.1 million by 2033.
Collaborations between technology solution companies contribute to the increase in revenue of conference room strategies. Throughout forecasting, technologies associated with digital transformation such as AI/ML, cloud computing, analytics, and others are generating new potential for development. This is particularly true in the BFSI sector.
Frequent advancements and the execution of new solutions/software including integrated communication and meeting event coordinators/scheduling software for work-from-home apps are opening up novel possibilities for expansion for conference room solutions.
New conference room solutions guidelines permit greater performance requirements and guarantee superior accessibility for users while simplifying the design and manufacturing processes.
Advantages such as low cost and simple conferencing processes, as well as the ability to integrate with cloud solution providers, are driving an increase in the global use of conference room solutions. The incorporation of technologies including IoT, Big Data, Artificial Intelligence, and others is likely to result in an advancement of conference room solution characteristics with enhanced efficiency.
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Conference room solution providers have a long history of launching or speeding up their growth by acquiring promising startups. This planned, yet aggressive strategy towards business growth, combined with strong implementation, enabled major players to continue to maintain their lead while expanding the range of their products and clientele, which ranged from big corporations to small and medium-sized businesses.
For instance, in September 2019, Cisco System Inc. acquired Voicea, an American company that offers real-time solutions with confidentiality of data, such as meeting transcription, voice querying, and meeting highlights/action items. The company intends to expand its Webex range of products with a transcription service that combines AI and Automated Speech Identification.
Inadequate numbers of seats and inadequate facilities capability are two of the challenges that businesses face when setting up conference room approaches.
Various laws and regulations mandate such as the Sarbanes Oxley Act (SOA) and HIPAA present different challenges for businesses in terms of safeguarding customer information and keeping compliance levels during meetings.
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Conference Room Solutions Market:
| Differentiating Aspects | Conference Room Solutions Market |
|---|---|
| CAGR (2023 to 2033) | 14.8% |
| Market Valuation in 2023 | US$ 1,521.9 million |
| Projected Market Value in 2033 | US$ 6,068.1 million |
| Growth Factors | Expanding need for dependable and cost-effective conference room solutions, investments in digitizing the workspace, |
| Opportunities | Growing array of cost-effective conferencing solutions software, as well as relevant breakthroughs in technology. |
| Key Trends | The incorporation of technologies including IoT, Big Data and, Artificial Intelligence. |
EV Charger Market:
| Differentiating Aspects | EV Charger Market |
|---|---|
| CAGR (2023 to 2033) | 12.7% |
| Market Valuation in 2023 | US$ 9 billion |
| Projected Market Value in 2033 | US$ 20 billion |
| Growth Factors | Working from home, geographically dispersed company activities and increased globalization |
| Opportunities | The abrupt shift of different companies to a work-from-home tradition |
| Key Trends | Raised demand for virtual meeting software and services like Zoom, Microsoft Teams, and Google Workspace. |
According to the report, the United States was predicted to account for a market share of 22.1% in 2022. Because of the country's strong presence of service providers, the United States is expected to emerge as the most significant market for conference room solutions. This is due to increased demand from various industries such as IT and telecommunications, BFSI, healthcare, retail, media and entertainment, and others.
Progressive advancement in cloud communication has resulted in greater choice, flexibility, and cost-saving approaches to conferencing within companies in North America, particularly in the United States, which is expected to support long-term advancements.
Germany was predicted to account for a market share of 9.6% in 2022. Many small and medium-sized businesses in Germany have adopted advanced conference room solutions in recent years to improve communication among employees. As a result of the European Union's favorable business policies and free workforce mobility, enterprises in the region operate from multiple locations across Europe.
The growing number of employees who are mobile is encouraging organizations to implement advanced connectivity solutions. FMI places Germany as the second-largest market, a ranking that it is likely to hold throughout the forecast period.
The conference room solutions market in China is anticipated to expand at a CAGR of 16.2% over the forecast period. As a result of the substantial number of Tier II and Tier III producers and vendors in China, the marketplace for conference room solutions in the nation has surged dramatically.
Several enterprises in the nation are implementing high-performance conferencing solutions to improve their communication systems and drive higher efficiency and visibility across the company. Key players in different industries, including IT and telecom, manufacturing, BFSI, and logistical and shipping services, are working to reduce shortcomings and obstacles to communication while boosting group work quality of the result.
The market is divided into end use industries such as IT & Telecom, BFSI, healthcare, retail, media and entertainment, transportation and logistics, education, manufacturing, and others. The IT and Telecom industry segment dominated the global conference room solutions marketplace, accounting for 23.2% of the entire market by the end of 2022.
The expansion of unified interaction and cooperation, voice and web conferencing, accessibility, real-time interactions, team collaboration, and unified messaging generate significant market contributions. In this sector, such factors contribute to the widespread implementation of conference room solutions.
The market is divided into three components: hardware, software, and services. The conference room solutions hardware segment dominated the market, accounting for nearly 45.60% of the overall market value by the end of 2020.
Flat screens, projectors, cameras, interactive/digital whiteboards, and other products are included in the hardware segment. These conference room solutions include features including real-time interactivity, superior video conferencing functionality, screen recording, and the invention of software for smartphones. The dependability of such features is driving demand throughout the world.
To achieve a competitive edge, market participants are concentrating on innovation and strategic collaborations. For instance,
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 14.8% from 2023 to 2033 |
| Market Value in 2023 | US$ 1,521.9 million |
| Market Value in 2033 | US$ 6,068.1 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Key Segments Covered |
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| Regions Covered |
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| Key Countries Covered |
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| Key Companies Profiled |
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| Customization & Pricing | Available upon Request |
Unified interactions and collaboration tools drive market growth.
The market is forecast to register a CAGR of 14.8% through 2033.
The incorporation of technologies including IoT, Big Data, is the top trend.
Germany’s market expanded at a CAGR of 9.6% in 2022.
The United States dominates the conference room solutions market.
1. Executive Summary | Conference Room Solutions Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033 5.3.1. Hardware 5.3.1.1. Flat Screens 5.3.1.2. Projectors 5.3.1.3. Cameras 5.3.1.4. Digital Whiteboards 5.3.2. Software 5.3.2.1. Unified Communication and Collaboration 5.3.2.2. Document Management 5.3.2.3. Scheduling 5.3.2.4. Others 5.3.3. Services 5.3.3.1. Professional Services 5.3.3.2. Managed Services 5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprises Size 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Enterprises Size, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprises Size, 2023 to 2033 6.3.1. Small & Medium Enterprises (SMEs) 6.3.2. Large Enterprises 6.4. Y-o-Y Growth Trend Analysis By Enterprises Size, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Enterprises Size, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Vertical , 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vertical , 2023 to 2033 7.3.1. IT & Telecom 7.3.2. BFSI 7.3.3. Healthcare 7.3.4. Retail 7.3.5. Media & Entertainment 7.3.6. Logistics 7.3.7. Education 7.3.8. Manufacturing 7.3.9. Others 7.4. Y-o-Y Growth Trend Analysis By Vertical , 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Vertical , 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. South Asia 8.3.5. East Asia 8.3.6. Oceania 8.3.7. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. The USA 9.2.1.2. Canada 9.2.2. By Component 9.2.3. By Enterprises Size 9.2.4. By Vertical 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Component 9.3.3. By Enterprises Size 9.3.4. By Vertical 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Component 10.2.3. By Enterprises Size 10.2.4. By Vertical 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Component 10.3.3. By Enterprises Size 10.3.4. By Vertical 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Component 11.2.3. By Enterprises Size 11.2.4. By Vertical 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Component 11.3.3. By Enterprises Size 11.3.4. By Vertical 11.4. Key Takeaways 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Malaysia 12.2.1.3. Singapore 12.2.1.4. Thailand 12.2.1.5. Rest of South Asia 12.2.2. By Component 12.2.3. By Enterprises Size 12.2.4. By Vertical 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Component 12.3.3. By Enterprises Size 12.3.4. By Vertical 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Component 13.2.3. By Enterprises Size 13.2.4. By Vertical 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Component 13.3.3. By Enterprises Size 13.3.4. By Vertical 13.4. Key Takeaways 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. Australia 14.2.1.2. New Zealand 14.2.2. By Component 14.2.3. By Enterprises Size 14.2.4. By Vertical 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Component 14.3.3. By Enterprises Size 14.3.4. By Vertical 14.4. Key Takeaways 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Component 15.2.3. By Enterprises Size 15.2.4. By Vertical 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Component 15.3.3. By Enterprises Size 15.3.4. By Vertical 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2022 16.1.2.1. By Component 16.1.2.2. By Enterprises Size 16.1.2.3. By Vertical 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2022 16.2.2.1. By Component 16.2.2.2. By Enterprises Size 16.2.2.3. By Vertical 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2022 16.3.2.1. By Component 16.3.2.2. By Enterprises Size 16.3.2.3. By Vertical 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2022 16.4.2.1. By Component 16.4.2.2. By Enterprises Size 16.4.2.3. By Vertical 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2022 16.5.2.1. By Component 16.5.2.2. By Enterprises Size 16.5.2.3. By Vertical 16.6. United Kingdom 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2022 16.6.2.1. By Component 16.6.2.2. By Enterprises Size 16.6.2.3. By Vertical 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2022 16.7.2.1. By Component 16.7.2.2. By Enterprises Size 16.7.2.3. By Vertical 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2022 16.8.2.1. By Component 16.8.2.2. By Enterprises Size 16.8.2.3. By Vertical 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2022 16.9.2.1. By Component 16.9.2.2. By Enterprises Size 16.9.2.3. By Vertical 16.10. India 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2022 16.10.2.1. By Component 16.10.2.2. By Enterprises Size 16.10.2.3. By Vertical 16.11. Malaysia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2022 16.11.2.1. By Component 16.11.2.2. By Enterprises Size 16.11.2.3. By Vertical 16.12. Singapore 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2022 16.12.2.1. By Component 16.12.2.2. By Enterprises Size 16.12.2.3. By Vertical 16.13. Thailand 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2022 16.13.2.1. By Component 16.13.2.2. By Enterprises Size 16.13.2.3. By Vertical 16.14. China 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2022 16.14.2.1. By Component 16.14.2.2. By Enterprises Size 16.14.2.3. By Vertical 16.15. Japan 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2022 16.15.2.1. By Component 16.15.2.2. By Enterprises Size 16.15.2.3. By Vertical 16.16. South Korea 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2022 16.16.2.1. By Component 16.16.2.2. By Enterprises Size 16.16.2.3. By Vertical 16.17. Australia 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2022 16.17.2.1. By Component 16.17.2.2. By Enterprises Size 16.17.2.3. By Vertical 16.18. New Zealand 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2022 16.18.2.1. By Component 16.18.2.2. By Enterprises Size 16.18.2.3. By Vertical 16.19. GCC Countries 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2022 16.19.2.1. By Component 16.19.2.2. By Enterprises Size 16.19.2.3. By Vertical 16.20. South Africa 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2022 16.20.2.1. By Component 16.20.2.2. By Enterprises Size 16.20.2.3. By Vertical 16.21. Israel 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2022 16.21.2.1. By Component 16.21.2.2. By Enterprises Size 16.21.2.3. By Vertical 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Component 17.3.3. By Enterprises Size 17.3.4. By Vertical 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Cisco Systems, Inc. 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Microsoft Corporation 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. Huawei Technologies Co., Ltd. 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. Alphabet, Inc. (Google) 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Adobe Systems Incorporated 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. LogMeIn, Inc. 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Polycom (Plantronics, Inc.) 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. Zoom Video Communications, Inc. 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. ZTE Corporation 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Premiere Global Services, Inc. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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March 2018
REP-CN-2986
October 2022
250 pages
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Conference Room Solutions Market
