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Virtual Communication Market By Application (Audio Conferencing, Video Conferencing, Web Conferencing, and Multimedia Conferencing), By Deployment Type (On-Premise, and Cloud-Based), By Component (Hardware, and Software), By End-User (BFSI, IT & Telecommunications, Healthcare, Education, and Others), By Organization Size (SME’s, and Large Scale Enterprise), By Services (Integration and Implementation, Training and Education, Support and Maintenance, Managed Services): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026

Industry Insights

[215+ Pages Report] As per the Facts and Factors market research report, the global virtual communication market generated sales revenue of USD 7.50 Billion in 2020. Further, the virtual communication sales are expected to generate revenue of USD 10.55 Billion by the end of 2026, increasing at a CAGR of around 5.85% from 2021 to 2026.

logoMarket Overview

Today's coordination necessitates overcoming time and space constraints, allowing for efficient real-time contact amongst stakeholders who may never meet face to face. This entails communicating knowledge and facts in real-time, rather than just documentation. It entails equipping teams with the abilities they need to address rapidly changing business difficulties and grasp swiftly disappearing new business possibilities without a lot of planning and schedule-checking.

Virtual communication tools can enable intra- and inter-site cooperative analysis, improve site surge capabilities, and allow regional skills established at each site to be utilized across the organization as needed. Contact between virtual teams, on the other hand, poses substantial challenges, including potential difficulty in developing a shared understanding of information or conditions, as well as issues in building unity and confidence among team members.

logoIndustry Growth Factor

The cloud's emergence has influenced a number of changes in how audio conferencing and video conferencing advancements are seen. As a result, one of the most important reasons that firms have been able to form strategic alliances and provide top-notch solutions to the virtual communication industry is the rising trend of the cloud. With the popularity of cloud-based solutions on the rise, video conferencing has become a simple and cost-effective communication tool. Consumers can purchase conferencing solutions using laptops, tablets, and mobile phones due to cloud-based software.

Most IT firms have now adopted cloud-based video conferencing technologies due to their ease of use and compatibility. The integration of video conferencing technology into the IT system has also had a positive impact on the growth of the telephony market. Recognizing that a diverse customer base is critical to the industry's growth, worldwide corporations have attempted to establish reliable and long-lasting conferencing infrastructure, driving global teleconferencing innovations.

logoSegmentation Analysis

The study provides a decisive view of the global virtual communication market by segmenting it based on application, deployment type, component, end-user, organization size, services, and geographic regions. The application segment is categorized into audio Conferencing, Video Conferencing, Web Conferencing, and Multimedia Conferencing. On-Premise and Cloud-Based types are the deployment type of the global virtual communication market. To offer better target customer analysis, our analyst further bifurcates components segment into hardware and software. The end-user segment is categorized into BFSI, IT & Telecommunications, Healthcare, Education, and Others. SME’s, and Large scale enterprises are the organization size of the global virtual communication market. In addition, to understand the industry, our analyst classified services segment by Integration and Implementation, Training and Education, Support and Maintenance, Managed Services.

logo Report Scope

Report Attribute

Details

Market Size in 2020

USD 7.50 Billion

Projected Market Size in 2026

USD 10.55 Billion

CAGR Growth Rate

5.85% CAGR

Base Year

2020

Forecast Years

2021-2026

Key Market Players

AT&T, Inc., Cisco Systems, Inc., Deutsche Telekom AG, Ericsson, Huawei Technologies Co., Ltd., Intel Corporation, Mobile Telesystems, and Others

Key Segments

Applications, Deployment Types, Components, End-Users, Organization Size, Services, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

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logo Regional Analysis

Based on regions, the global virtual communication market can be divided into five main regions namely North America, Europe, Asia Pacific, Latin America, and The Middle East and Africa.

The United States of America is a pioneering country in the information and technology sector. Between 2019 – 2020 it was reported the total number of internet users was raised by 1.8 million. In January 2020 it was reported the internet penetration market of The United States of America had reached 87% with a 288.1 million total number of active internet users. North America is expected to be the largest market in the virtual communication sector owing to its high level of adoption of virtual communication platforms over the last decade due to the availability of highly sophisticated network infrastructure in the region. Increasing numbers of emerging start-ups, increasing adoption of core communication technologies such as Bluetooth, NFC, WI-FI, Information Technology Operations, and the upcoming 5G network in the region are also contributing to the growth of the North American market.

logo Competitive Players

Some of the key players in the virtual communication market are AT&T, Inc., Cisco Systems, Inc., Deutsche Telekom AG, Ericsson, Huawei Technologies Co., Ltd., Intel Corporation, Mobile Telesystems, Orange S.A., Samsung Electronics Co., Ltd., Verizon Communications, Inc., among others.

logoThe global virtual communication market is segmented into:

logo By Application

  • Audio Conferencing
  • Video Conferencing
  • Web Conferencing
  • Multimedia Conferencing

logo By Deployment Type

  • On-Premise
  • Cloud-Based

logo By Component

  • Hardware
  • Software

logo By End-User

  • BFSI
  • IT & Telecommunications
  • Healthcare
  • Education
  • Others

logo By Organization Size

  • SME’s
  • Large Scale Enterprise

logo By Services

  • Integration and Implementation
  • Training and Education
  • Support and Maintenance
  • Managed Services

logo By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Covid-19

Virtual Communication Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • AT&T Inc.
  • Cisco Systems Inc.
  • Deutsche Telekom AG
  • Ericsson
  • Huawei Technologies Co.Ltd.
  • Intel Corporation
  • Mobile Telesystems
  • Orange S.A.
  • Samsung Electronics Co.Ltd.
  • Verizon Communications Inc.

Frequently Asked Questions

Strict enforcement of laws by government authorities mandating Virtual Communication Market.
According to Facts and Factors research report, the global Virtual Communication Market accrued earnings worth approximately XX (USD Billion) in 2020 and is predicted to gain revenue of about XX(USD Billion) by 2028, is set to record a CAGR of nearly XX% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large-scale presence of giant participants in countries such as the U.S. Apart from this, favorable compensation policies along with high acceptance of new Virtual Communication Market will drive regional market trends. With regional governments enforcing strict laws pertaining to drug abuse, the market for Virtual Communication Market in North America is set to witness exponential growth over years to come. Legalization of cannabis in countries such as Canada and U.S. through passing of acts in parliament is likely to enlarge scope of Virtual Communication Market in North America over coming decade.
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