Video conferencing equipment market revenues grew 11 percent in the second quarter of 2020 to nearly $500 million, Synergy Research said.
While the USB video conferencing segment continues to grow strongly, it was particularly notable that the traditional video conferencing systems segment returned to growth in the quarter.
Cisco’s leadership in traditional video conferencing systems enabled it to claim a 47 percent share of the total video conferencing equipment market.
Logitech continues to dominate the USB segment and its share of the total market grew to 17 percent in Q2.
Cisco and Logitech are followed by Poly, Huawei and Aver.
Sales of video conferencing equipment were driven by 34 percent year-on-year growth in the USB segment and 3 percent growth in the traditional systems segment.
While North America remains the biggest regional market, it was the EMEA region that had by far the highest growth rate. Over the last twelve months, total worldwide system sales were approaching the $2 billion mark.
“USB technology is more cost efficient and easier to use than traditional video codec systems and is also well aligned with flexible, cloud-based operations,” said Jeremy Duke, Synergy Research Group’s founder.
The Conferencing SaaS market grew by 64 percent in Q2, driven primarily by VaaS which more than doubled in size. This booming VaaS market is helping to pull through strong demand growth for video conferencing equipment.