The increase in the number of different technologies, such as machine learning, AI, IoT and others, has had a significant effect on the adoption of virtual communication platforms. Technological innovation companies like Apple, Google and Microsoft have seen the advanced use of virtual communication technologies and several new innovations in brand implementation. The growing adoption of two-way, internet-based and telephone-based virtual communication facilities has prompted not only technology providers but also numerous other companies across education, healthcare and government sectors to adapt to advanced virtual communication trends that are expected to define the future of the communications industry.
The study reveals that regular face-to - face interactions were most effective (93%) , followed by audio conference calls (905), video conferencing (84%) and group emails or chat groups (79%), whereas internal and external social media channels were 62%and 39% , respectively. Virtual communication has evolved from an alternative to a need to do business. From virtual estate to automated multi-language data translation to extensive telemedicine surges, workers in different sectors use various virtual communication platforms to hold their day-to-day conferences.
The total Global market for virtual communication is estimated at around USD 8-9 Billion in 2020 and the market is expected to grow to around USD 20-21 Billion by 2028. The CAGR of the market is accounted at around 5.92%. Videoconferencing market is expected to be the fastest growing market from around USD 3-4 billion in 2020 to USD 5.5-6.5 billion by 2028 at a CAGR of 7.48%. North America is expected to hold the highest share of the market and grow at a CAGR of 7.21%.
The study period of the report “Global Virtual Communication Market” is from 2018-2028, and the forecast period of the report is from 2020-2028.
The report is covers:
- The Key drivers, restraints and challenges which are expected to shape the Global Virtual Communication Market are covered in detailed in the report.
- The key technologies which could have an impact on the Virtual Communication Market have been covered in detail.
- The top fifteen countries have been analyzed in detail with respect to their number of internet users and internet subscribers, internet bandwidth, percentage of information technology exports and technological indicators from 2014- 2018.
- The Porter’s Five Forces and the PEST of the Global Virtual Communication market have been covered in the report.
- The high growth markets have been identified in the Opportunity Analysis Chapter.
- The market has been forecasted from 2020- 2028 considering all the factor, which is expected to impact the market.
- The Scenario Analysis Chapter covers the key scenarios and its impacts on the forecast chapter.
Segmentation covered in this report
The market is segmented based on Region, Application and End-User:
Region Wise Segmentation:
- North America
- Middle East
- Web Conferencing
- Multimedia Conferencing
By End User
- IT & Telecommunication
Country Level Analysis
- South Korea
- New Zealand
Reasons to buy
- The new players in the virtual communication market and the potential entrants into this market can use this report to understand the key market trends that are expected to shape this market in the next few years.
- The Market Analysis Chapter cover the Key Drivers, Restraints and Challenges of the virtual communication platforms.
- The PEST and the Porter’s five forces that affect the Virtual Communication Market are covered in detailed in this report.
- The key technologies that could impact the Virtual Communication Market have been covered in detailed, an example is the growing interest in the 5G, Machine Learning and Artificial Intelligence segment.
- The report can be used by sales and marketing team to formulate their medium- and long-term strategies and to reconfirm their short-term plans.
- The forecast chapter would help the sales team to formulate their medium-term sales plan.
- The report would be help to the sales and the marketing team to understand the key segments across the top fifteen countries which have been analyzed in the report.
- The Opportunity Analysis chapter identifies the key hot spots within the Global Virtual Communication Market.
- The company profiles include financials, latest news, contracts and SWOT for around 10 companies.
Who is this report for? -
- Financial Institutions: Financial institutions such as financial intermediaries and banking institutions can use this report to assess their financing or investment strategies.
- Department of Information Technology: The Department of Information Technology could use this report to understand various technological indicators of top fifteen countries. This would give them an overall perspective of potential markets.
- Manufacturers: The hardware manufacturers in the Virtual Communication market can procure the report to understand the future trends and the market size.
- Decision Makers: The future investment and technology focus decisions could be formulated based on the inputs of this report.
- Other Organizations: Various other NGO and Non- Governmental organizations involved with the research of gun related violence can use this report to support their research.