North America Video Conferencing Software Market Size, Share, Opportunities, And Trends By Deployment Model (On-Premise, Cloud), By Enterprise Size (Small, Medium, Large), By Industry Vertical (Education, Communication and Technology, Defense, Healthcare, BFSI, Others), And By Country - Forecasts From 2023 To 2028

The North American video conferencing software market is evaluated at US$3,894.418 million for the year 2021, growing at a CAGR of 22.95% to reach the market size of US$16,543.770 million by the year 2028. 

The market for video conferencing software in North America is primarily driven by the presence of multinational corporations in the area. The region's market for video conferencing software is expanding due to rising demand for online education and e-learning courses brought on by ongoing tuition cost rises in nations like the United States and Canada.

Various government initiatives are further fueling the market. For instance, the employment of the future will be found in Canada's high-growth industries, and businesses need access to top personnel to foster innovation and advance developing technology. The Honourable Sean Fraser, Minister of Immigration, Refugees, and Citizenship, unveiled the country's first-ever Tech Talent Strategy at Collision 2023. To assist Canadian firms in thriving in a cutthroat environment, this new plan introduces new measures and enhances old ones.

In November 2022, DND/CAF conference rooms with video conferencing technology connected members of the Defence Team to a Teams meeting. For anyone transitioning to a mixed workstyle who needs to communicate with coworkers who are not on-site, this will be a useful resource.

Utilization by various end-users

The global pandemic has raised demand for video conferencing software in the region. Work-from-home limitations brought on by the government's lockdown and the demand for social isolation forced businesses to employ video conferencing software and organize virtual meetings. The need for video conferencing solutions among schools and colleges is driving growth in the market for video conferencing software in the area.

According to the 2021 American Community Survey (ACS) 1-year estimates released by the U.S. Census Bureau, the percentage of people who predominantly work from home quadrupled between 2019 and 2021, rising from 5.7% (approximately 9 million people) to 17.9% (27.6 million people). In 2021, the District of Columbia had the greatest proportion of home-based employees (48.3%) among all the states and state equivalents. States having the largest proportion of home-based employees, in addition to the District of Columbia, were Washington (24.2%), Maryland (24.0%), Colorado (23.7%), and Massachusetts (23.7%).

Utilization of video conferencing in education

In education, video conferencing enables teachers to communicate with students wherever they may be. As educational institutions adjust to new technology and the evolving demands of both students and teachers, this tool is being used in education on an increasing basis. For instance, in December 2020, to assist end users, such as teachers, in considering cybersecurity risks, CISA offered a videoconferencing solution to school district and campus IT managers and personnel who are responsible for safeguarding their IT networks.

The United States is anticipated to hold a significant market share in the region

The expansion of the U.S. video conferencing software market is being majorly fueled by the early acceptance of digitalization across numerous industries and the presence of prominent market players in the nation. A significant element driving the adoption of video conferencing solutions in the nation and supporting the growth of the video conferencing software market is the high demand for distance education courses, for instance, as per the National Center of Education Statistics, the percentage of undergraduate students who only took distant education courses at degree-granting postsecondary institutions were 41% undergraduate students adopted for 2-year course from a public institution in 2021 and 20% undergraduate students for 4-year course.

Furthermore, there are numerous multinational corporations, such as IBM Corporation, that focus primarily on the widespread adoption of such solutions for the training of their staff which would favourably affect the expansion of the market. For instance, Cisco enables video conferencing to and from desktops, smartphones, and conference rooms to provide simpler, more transparent interactions and uniform experiences. Through the use of standards-based technology, affordable solutions can enable any-to-any video and deliver superior scaling.

Market Key Developments

• In June 2023, the Qualcomm® Video Collaboration Platform, a new suite of video collaboration solutions, was unveiled by Qualcomm Technologies, Inc. It enables original equipment manufacturers (OEMs) to quickly design and deploy video conferencing products with excellent video, audio, and customizable on-device AI to power captivating, immersive virtual meeting experiences in business, healthcare, educational, and residential settings.
• In June 2023, Zoom Video Communications Inc., compatible with BRAVIA CAM1, was announced by Sony Electronics Inc. to be available on BRAVIA TVs. Users will be able to effortlessly connect with friends, family, and coworkers for video chats and meetings from the convenience of their living room. The Zoom for TV app on the Google Play Store was first supported by Sony's BRAVIA line of televisions.

Segmentation:

• By Deployment Model
  • On-Premise
  • Cloud
• By Enterprise Size
  • Small
  • Medium
  • Large
• By Industry Vertical
  • Education
  • Communication and Technology
  • Defense
  • Healthcare
  • BFSI
  • Others
• By Geography
  • U.S.
  • Canada
  • Mexico

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. NORTH AMERICA VIDEO CONFERENCING SOFTWARE MARKET BY DEPLOYMENT MODEL

5.1. Introduction

5.2. On-Premise

5.3. Cloud

6. NORTH AMERICA VIDEO CONFERENCING SOFTWARE MARKET BY ENTERPRISE SIZE

6.1. Introduction

6.2. Small

6.3. Medium

6.4. Large

7. NORTH AMERICA VIDEO CONFERENCING SOFTWARE MARKET BY INDUSTRY VERTICAL

7.1. Introduction

7.2. Education 

7.3. Communication and Technology

7.4. Defense

7.5. Healthcare

7.6. BFSI

7.7. Others

8. NORTH AMERICA VIDEO CONFERENCING SOFTWARE MARKET BY GEOGRAPHY

8.1. Introduction

8.2. U.S.

8.3. Canada

8.4. Mexico

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

10. COMPANY PROFILES

10.1. Microsoft Corporation

10.2. Google

10.3. Zoom Video Communications, Inc.

10.4. Cisco

10.5. LogMeIn, Inc.

10.6. Zoho Corporation Pvt. Ltd.

10.7. Conference Technologies

10.8. Owl labs

10.9. Cinos

10.10. Lifesize

Microsoft Corporation

Google

Zoom Video Communications, Inc.

Cisco

LogMeIn, Inc.

Zoho Corporation Pvt. Ltd.

Conference Technologies

Owl labs

Cinos

Lifesize