Video conferencing and collaboration market rose 10 percent to over $1.5 billion in Q1 2019, according to Synergy Research.
VaaS (video as a service) and USB video conferencing segments each grew by well over 40 percent.
Other high-growth segments include in-room content sharing and collaborative smart boards. Traditional single codec room systems accounts for a quarter of all spending and grew by 8 percent.
Cisco and Poly (the renamed Polycom) lead by a wide margin in the videoconferencing and dedicated video desktop segments.
Cisco and LogMeIn are the leaders in conferencing SaaS.
Zoom has the highest growth rate, followed by Logitech and BlueJeans.
Video conferencing and collaboration market will have an annual growth of 10 percent with increased spending in all major geographic regions.
VaaS and USB video conferencing will account for well over a third of the market by 2023.
“The video market continues to evolve from traditional single codec systems, to newer more nimble USB video rooms and VaaS cloud services, which are helping vendors to target pent-up demand at the smaller end of the video market,”’ said Jeremy Duke, Synergy Research Group’s founder and Chief Analyst.