The global Healthcare Video Conferencing Solutions Market size is expected to reach USD 114.46 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.9% from 2021 to 2028. The key factors driving the market include robust urbanization and increasing penetration of telemedicine solutions. Furthermore, technological advancements by market players are anticipated to positively influence the market growth.
Market players witnessed tremendous growth in their
revenues during the COVID-19 pandemic due to the increased demand for their
video conferencing solutions. For instance, Adobe observed a 15% increase, and
Pexip LLC witnessed around a 54.5% increase in their revenues from 2019 to 2020.
However, they are not certain regarding the demand for their video conferencing
solutions after the pandemic. For instance, Zoom Video Communications, Inc. in
its 2020’s annual report stated that as the COVID-19 pandemic is getting curbed
due to the widespread availability of vaccinations, it might result in a
decline in paid hosts and users as people/patients will no longer be required
to stay at home and they can directly visit the clinics and hospitals for the
treatment of their medical problems.
Investments by major companies to launch new
technologically advanced products in the market are expected to fuel the market
growth. For instance, in April 2021, Intrado Corporation launched the SD-WAN
Thin Edge, which is developed in collaboration with Infiot, which develops
solutions for remote-first applications. It is designed for connecting remote
workers, fixed and mobile sites, and IoT devices over LTE cellular networks.
Market players are investing in many strategic
initiatives, such as acquisitions, mergers, partnerships, and product launches,
to maintain a competitive edge in the market. For instance, in December 2020,
Intrado Corporation acquired Asparia, Inc., a provider of patient engagement
solutions for hospitals, medical practices, and health systems.
Related Press Release@ Healthcare Video Conferencing Solutions Market Report
Healthcare Video Conferencing
Solutions Market Report Highlights
- The growing technological advancements, coupled with the adoption
of telemedicine solutions, is expected to boost the market growth
- Based on deployment mode, the on-premise segment led the market in
2020 owing to its high adoption by the healthcare providers
- By component, the hardware segment held a dominant market share in
2020 owing to the growing technological advancements related to the
segment
- North America led the market in 2020 with a revenue share of more
than 35.0% owing to the presence of major market players
- The Middle East and Africa is expected to be the fastest-growing
regional market from 2021 to 2028 owing to the rise in the number of
healthcare facilities and the need for continuous training for medical
students and new doctors, especially during the pandemic
- Major players are involved in new product launches, mergers &
acquisitions, and collaborations to grow in the market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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