The global market for video conferencing and collaboration will cross $6 billion in 2019, a Synergy Research report shows.
Spending on videoconferencing systems were relatively static during the 2015-2017 period. The global spending on on videoconferencing systems achieved growth in 2018. The report did not reveal specific growth and the size of the on videoconferencing systems market last year.
The growth in the video conferencing market in 2018 was driven by the deployment of new USB video rooms as well as the growth for single codec videoconferencing systems, the report said.
Cisco and Polycom lead the overall videoconferencing market by a wide margin. Logitech has taken the third rank in videoconferencing market due to significant growth in the USB market. The report did not reveal the market share of Cisco and Polycom in the global videoconferencing market.
The installed base of video rooms increased to over 3 million worldwide in the first half of 2018. Small-to-large USB rooms now represent over 20 percent of all video rooms, up from less than 5 percent in 2016.
Traditional single codec rooms represent over 70 percent of the installed base, down from well over 90 percent in 2016.
Single codecs remain the largest segment of the market in terms of absolute spending levels, said the report on VC industry.
The biggest benefactors of the USB boom are vendors providing USB conferencing cameras and cloud-based video services, also known as Video as a Service (VaaS), Jeremy Duke, chief analyst at Synergy Research Group, said.
These technologies enable growth opportunities for technology vendors such as Logitech, Aver, Yamaha, Zoom, BlueJeans, Cisco WebEx, Microsoft Teams, and LogMeIn and new entrant Plantronics.