London, June 15, 2021 (GLOBE NEWSWIRE) — According to a new market research report titled, “Video Conferencing Market by Technology (VaaS, USB-VC, Room-based Codec System), Component, Deployment Mode, Organization Size, End-User (Education, IT & Comm., Healthcare, BFSI, Oil & Gas, Legal, Media)—Global Forecast to 2028”, published by Meticulous Research®, the video conferencing market is expected to reach $24.4 billion by 2028, at a CAGR of 15.5% from 2021 to 2028.
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Video conferencing is used across several industries, including education, IT & communication, healthcare, government, defense & public sector, BFSI, oil & gas, media & entertainment, legal & law profession, and manufacturing among others.
The growth of the video conferencing market is primarily driven by factors such as the emerging work from home culture and growing demand for high-speed video communication products. Video conferencing boosts productivity, saves time, reduces travel expenses, and overall promotes collaboration. The advantage of video conferencing is facilitating all of those benefits without requiring constant travel for face-to-face communication. However, less personal contact and understanding, network instability and time lag, technical issues and employee training, and more stress and less organization are some of the key factors restraining the growth of…
