Healthcare Video Conferencing Solutions Industry Overview
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.
Healthcare Video Conferencing Solutions Market Segmentation
Grand View Research has segmented the global healthcare video conferencing solutions market on the basis of deployment mode, component, and region:
Based on the Deployment Mode Insights, the market is segmented into On-premise and Cloud-based.
- The on-premise segment accounted for the largest revenue share of over 55.0% in 2020. The segment growth is attributed to the growing adoption of on-premise deployment by various organizations, especially large-scale organizations, as they have increasing concerns related to data theft and efficient maintenance of information security systems. Furthermore, the high penetration of these solutions is anticipated to fuel the market growth.
- The cloud-based segment is expected to expand at the fastest growth rate of 6.1% over the forecast period. Cloud-based solutions provide increased accessibility to the end users by allowing easy access for video conferencing services through various channels, such as mobile devices and laptops. Moreover, service providers emphasize the adoption of a SaaS platform for providing conferencing services. Features such as password-protected and encrypted cloud solutions are also estimated to boost the market growth. The rising focus of the market players on the segment is also expected to fuel the growth of the market.
Based on the Component Insights, the market is segmented into Software, Hardware and Services.
- The hardware segment accounted for the largest revenue share of more than 45.0% in 2020. The segment growth is attributed to the growing adoption and development of endpoints such as smartphones, desktops, and laptops equipped with microphones, speakers, and high-resolution cameras. Various general physicians have also implemented the work from a home model, which has further led to the reduction in demand for and investments in the enterprise-based hardware, which has further increased the investment by companies for the development of individual products, instead of enterprise hardware.
- The software segment is anticipated to witness significant growth over the forecast period owing to the rapid adoption of software-based communication and collaboration solutions, such as Zoom video conferencing. The growth of the services segment is also attributed to the growing number of video conferencing service providers in the market.
Healthcare Video Conferencing Solutions Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies Profile & Market Share Insights
The global market is highly competitive and fragmented. Market players are implementing various strategic initiatives, such as product development and launches, the expansion of distribution networks, and global footprint through subsidiaries and partnerships. Key players are also involved in portfolio diversification and mergers & acquisitions.
Some of the prominent players operating in the global healthcare video conferencing solutions market include,
- Adobe
- Pexip AS
- Zoom Video Communications, Inc.
- Intrado Corporation
- Vidyo, Inc.
- Plantronics, Inc.
- Logitech
- Huawei Technologies Co., Ltd.
- Cisco
- Avaya Inc.
Order a free sample PDF of the Healthcare Video Conferencing Solutions Market Intelligence Study, published by Grand View Research.
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