The web and video conferencing market will reach $7bn by 2026, according to a recent research report by ReportLinker,
In 2020, the global web and video market is estimated to have been worth $3.5bn, and it will grow at an average CAGR (compound annual growth rate) of 11.9%.
The corporate sector will be worth $4.1bn in 2026
As businesses are spread across the globe and separated by Covid-19 measures and the popularization of hybrid working, video conferencing services have become more in demand.
Coupled with this, the increasing quality of A.I., video, V.R., cloud computing, IoT, and more, are enabling these geographical and internal divisions to take place, often saving time and money in the process.
The corporate sector will be worth $4.1bn in 2026 with a 12.9% CAGR. Education, which occupies 9.7% of the market, has a 10.3% CAGR. The healthcare sector will make up $373m of the web and video SaaS market by 2026.
Geographical breakdown
The U.S. market was valued at $1.4bn in 2021, accounting for 33.49% of the global market.
The Asia-Pacific web and video market is estimated to hit $2.4 Billion by 2026, with a CAGR of 12.9%.
