The global healthcare video conferencing solutions industry demand reaches a notable sum of US$ 91.7 million in 2023 and are anticipated to grow at a CAGR of 5.5% from 2023-2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 156.7 Million. The revenue through on-premise installed healthcare video conferencing solutions is expected to grow at a CAGR of 5.6% during the forecast period.
The market for healthcare video conferencing solutions is projected to grow at a significant pace owing to technological advancements such as the debut of 5G technology and the increasing implementation of telemedicine resolutions.
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The market’s development was also influenced by technical advancements brought by several firms, particularly during Covid-19. The healthcare industry, like many others, has a diverse set of video conferencing requirements, including low power, very low latency, incredible speed, and more bandwidth. This is because various data-intensive applications, such as video applications, virtual reality, and augmented reality, have become a reality.
North America accounted for a significant share of the global healthcare video conferencing solutions market in 2022. The increased acceptance of video-conferencing technologies in the healthcare business has led to regional market growth.
Increased demand for continuous access to high-end virtual doctor-patient conferences is expected to boost the market growth. The presence of key corporations in the region is anticipated to stimulate market growth.
Key Takeaways:
- The COVID-19 pandemic has accelerated the adoption of telemedicine and healthcare video conferencing solutions.
- The market is segmented into deployment types (on-premise and cloud-based), components (hardware, software, and services), and applications (telemedicine, remote patient monitoring, and others).
- The cloud-based deployment type is expected to witness the highest growth during the forecast period.
- North America is the largest market for healthcare video conferencing solutions, followed by Europe and Asia-Pacific.
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Competitive Landscape:
Key players in the 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, and Avaya Inc.
A few recent developments in the Healthcare Video Conferencing Solutions market are:
- In June 2021, Zoom Video Communications, Inc. announced that it had reached a deal to buy Karlsruhe Information Technology Systems – Kites GmbH, a firm specializing in real-time machine translation solutions.
- In April 2021, Intrado Corporation introduced the SD-WAN Thin Edge, which was created in partnership with Infiot, a company that specializes in remote-first applications. It is intended for use with LTE cellular networks to connect distant workers, fixed and mobile locations, and IoT devices.
- In February 2020, Logitech revealed that their new future Zone Wired headset would expand its video conferencing options for the entire workplace while also enhancing the personal workstation. With the addition of this new headset, Logitech offers a comprehensive modern portfolio of both wired and wireless headsets, allowing customers to select the best option for their needs.
- In December 2020, Intrado Corporation, a provider of patient engagement solutions for hospitals, medical offices, and health systems, acquired Asparia, Inc.
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Market Segments Covered in Healthcare Video Conferencing Solutions Market Analysis:
By Deployment Mode:
- On-premise
- Cloud-based
By Component:
- Software
- Hardware
- Services
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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