Market Trends of North America Video Conferencing Hardware Industry
Institutions to Hold Significant Market Share
The institutions segment holds a significant market share owing to the large number of higher institutions, private and public institutions, and universities present in the United States. Video conferencing hardware is becoming increasingly popular in educational institutions to accelerate remote learning, online collaboration, and virtual classrooms among teachers and students. The demand for better-quality cameras, headsets, and MCUs has accelerated across higher education institutions and universities.
As Hybrid becomes the new norm, teachers must be ready to set up remote classes from anywhere, and flexible technology helps them connect to students where they teach. Furthermore, video conferencing hardware is used for live virtual classes, one-on-one meetings with teachers, group study sessions, and tutoring sessions. This helps to improve student-teacher communication and supports students' progress in their coursework.
According to Oklahoma State University, video conferences are recorded so students who cannot attend can view them later. Furthermore, as per Tennessee Tech University, a Polycom video camera is used to present a video of the instructor teaching, record in-class lectures, or livestream a class session.
With the rapid shift toward distance learning, colleges and universities are using conferencing systems to deliver online exams and courses. Furthermore, technological developments in hardware drive the adoption of video conferencing tools in institutions. Thus, key vendors are offering innovative solutions to increase market share. For example, Dahua Technology offers a DeepHub Smart Classroom Solution for digital education. This includes Dahua's hardware and software features and other products to increase interactive learning for higher education and K-12 classrooms.
United States to Grow with a Significant CAGR
With the advent of cloud computing and other hosted technology services, there has been a surge in the use of remote working and mobile collaboration, as well as videoconferencing. With advanced tools available across a wide range of endpoints, such as mobile, room-dedicated collaboration systems, and desktops, communication is becoming lighter and more agile, bringing together the best and most important elements of collaboration regardless of the user’s location.
Video conferencing improves workforce productivity and reduces operational costs by connecting teams, customers, partners, and prospects. It also allows companies to adapt quickly to the ever-evolving virtual and mobile marketplace.
Employees now have the power to integrate video communications into their day-to-day work lives, allowing them to build deeper, more meaningful, and more effective relationships with their clients, colleagues, partners, and prospects.
As more employers allow their remote teams to have flexible schedules, there have been new trends and more options for remote work. According to Upwork, 22% of the American workforce, or 36.2 million Americans, will work remotely by 2025. According to a new Pew Research Center Organisation survey, about 35% of workers in US workplaces work from home all the time.
Moreover, 10,000 employees surveyed by the Becker-Friedman Institute for Economics at the University of Chicago, out of a total of 30% of respondents, stated they were more engaged and productive working from home. The increased remote work culture in the country creates new market opportunities.
