The Video Conferencing Market in APAC was valued at US$ 1,383.5 million in 2019 and is projected to reach US$ 3,432.4 million by 2027; it is expected to grow at a CAGR of 11.4% from 2020 to 2027.
The countries in APAC are consistently witnessing growth in corporate, healthcare, and education sectors. The proliferation rate of technologies is noteworthy in the above mentioned sectors, and the demand for video conference solutions continues to rise not only in executive boardrooms, but in every meeting space. The healthcare sector in APAC is profoundly growing, and the adoption of medical technologies such as automatic testing systems, robotics-aided surgeries, and automatic data readers, as well as nonmedical technologies including high-end CCTV cameras, tele-medication systems, online consultation, and video conferencing solutions, is at peak. The adoption of video conference solutions is rising in order to facilitate the doctors to treat patients located in remote areas lacking basic medical facilities. Additionally, the emergence of cost-effective, user friendly, and efficient video conferencing solutions, is influencing the healthcare sector to invest in video conferencing solutions to conduct webinars and meetings.
Several countries in APAC are home for SMEs across industries, which capitalize heavily on advanced technologies, and this factor is favoring the Video Conferencing Market in the region. China, India, Japan, South Korea, Singapore, Taiwan, and Malaysia are among the continuously growing economies in APAC. The cultures of a remote office, home office, and coworking spaces are tremendously growing in the region, which is encouraging the individuals to incorporate video conferencing solutions into their systems. Additionally, several organizations are transitioning from large conference rooms to smaller hurdle rooms with an objective to utilize maximum office space for employee engagement. This transition is facilitating them to employ large workforce to ensure enhanced productivity.
Till now, China has the highest number of COVID -19 confirmed cases. However, China has emerged from a 2-month containment phase and moved into the mitigation stage; its experience is helping countries currently at the start of the COVID-19 cycle to plan their responses better. Chinese institutions are attempting to shift to online education on a massive scale. Moreover, Australian higher education is highly dependent on a steady flow of Chinese students, but the government of Australia has restricted travel from China. Consequently, Australian higher education institutions are trying to enhance their online competency to offer courses to stranded concerned students. Universities are adopting video conferencing technology for online education. Moreover, the presence of a large number of SMEs in South-East Asian countries are creating a huge demand for video conferencing solution during the COVID-19 pandemic.
The overall APAC Video Conferencing Market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the APAC Video Conferencing Market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC Video Conferencing Market. Adobe Inc., Google LLC, Microsoft Corporation, and Zoom Video Communications, Inc. are among a few players present in the APAC Video Conferencing Market.