The video conferencing market is classified into room-based, desktop, and telepresence, on the basis of type. Among these the telepresence segment is projected to witness distinguished demand as the ongoing shift towards HD video quality for ensuring effective video conferencing experience picks up steam.

The global video conferencing market is set to register a tremendous rise in its growth graph as increasing social distancing measures and the work from home trend becomes a norm amidst and after the ongoing pandemic situation.

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Video conferencing market in the Latin America is expected to register an impressive CAGR of more than 20% over the forecast timeframe due to widespread adoption of advanced technology along with increasing internet penetration.

With the growing penetration of broadband internet, the increasing availability of sophisticated web cameras and microphones, and the significant surge in word from home, the video conferencing market is likely to witness a remunerative growth in coming years.

Video conferencing allows for effective communication between two parties that are geographically separated. Video conference calls are visual, live connection among two or more parties. At its most simplest, video conferencing can facilitate exchange of text and static images and text between two different locations. Additionally, at the system's most sophisticated, video conferencing enables transmission of high-quality audio and full-motion videos between multiple locations.

Across businesses, desktop-based video conferencing is considered to be a core component of a unified communication applications as well as web conferencing services. In fact, cloud-powered virtual meeting services allow organizations to rollout video conferencing using minimal infrastructure investment.

While there are many factors why videoconferencing is increasingly becoming more popular, it is still considered to be in its infancy. However, as more and more enterprises are coming up to speed with the system's tremendous benefits.

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With respect to application, the video conferencing market is divided into corporate enterprise, government, education, and healthcare. Among these, the healthcare segment is anticipated to witness substantial growth. Increased adoption of remote surgery and consultation among healthcare professionals is being chalked up as the factor enabling segment growth.

Based on component, the video conferencing market is bifurcated into three segments, namely service, hardware, and software. The service segment is further divided into managed services, and professional services. The hardware segment is divided into Multipoint Control Unit (MCU), peripheral devices, and codecs. Lastly, the software segment is divided into on-premise, and cloud.

Among these, the peripheral devices segment is forecast to grow with a respectable CAGR over the coming years due to the increased adoption of microphones, webcams, and other essential devices that maintains reliable and high quality audio & video.

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