The COVID-19 crisis has changed the organizational perspective about remote work and learning and the critical role video conferencing plays in enabling remote collaboration. Although the pandemic continues to hamper economic activities worldwide, the overall investments across the region, especially in China, contributed to a strong performance.
The global enterprise video conferencing endpoints and infrastructure market is projected to reach $1.46 billion in 2027, up from $864.4 million in 2020, at a compound annual growth rate of 7.8%.
“While the economic contractions led to delays in project rollouts and restricted the growth in most markets, the surge in demand in Greater China during the COVID-19 lockdowns partially offset the decline and helped boost Asia-Pacific’s overall revenue growth,” noted Youngso Lee, Senior Research Analyst, ICT at Frost & Sullivan.
She explained that due to the strict virus containment measures and significant government support in the form of fiscal policies and financial aid, many large enterprises in China adopted video conferencing.
“In addition to China, the addressable market in Asia-Pacific is expanding with the availability of superior broadband infrastructure extending high-quality network coverage to rural areas. Overall, the use of video conferencing to redefine business models in education, healthcare, and the government is becoming a best practice for late adopters in emerging and developing countries in Asia-Pacific,” she added.
Action items to tap market opportunities
Enabling a seamless meeting experience for users across a variety of work environments as remote work and virtual meetings become more common.
Delivering an integrated platform to reduce complexity and alleviate certain solution management challenges, enabling greater adoption across more businesses and more users within enterprises with existing deployments.
Exploring new use cases in education and healthcare, such as virtual classes and using A/V for digital healthcare through vertical-centric channel partners.
Highlighting the benefits of using advanced planning and management software to emphasize customized deployment as opposed to a one-size-fits-all approach.
Capitalizing on Device-as-a-Service and allowing the IT team to concentrate on other strategic digital transformation projects in their organizations.
