Market Trends of Asia Pacific Video Conferencing Hardware Industry
Institutions are Expected to Witness Significant Growth
- Video conferencing technology is considered crucial for enabling online learning and communication. The advantages of video conferencing devices in virtual classrooms are enhanced interaction, communication, accessibility, flexibility, and collaboration. India has the highest number of universities globally. As per CSIC data from July 2023, there were approximately 5,350 universities in India. China came in second with 2,495 universities, followed by Japan with 992 universities.
- Intelligent video, which is video technology driven by AI (artificial intelligence), can address various challenges. Along with offering superior video quality, the Jabra company's PanaCast series includes numerous functions that enhance the learning experience in virtual and traditional classrooms. Intelligent video solutions, such as Intelligent Zoom and Virtual Director, can focus the camera solely on the speaker to provide an optimal view for the viewer. Additionally, edge AI allows for the automatic capture and display of whiteboard content in a simultaneous dual stream for whiteboarding features.
- The demand for video conferencing hardware is increasing as institutions utilize it for emergency preparedness and crisis response, such as conducting remote emergency drills, communicating critical updates, and coordinating response efforts during natural disasters, security incidents, or public health emergencies.
- Video conferencing hardware facilitates international partnerships, collaborative projects, and student exchange programs between educational institutions. Students and faculty members can engage with peers from diverse backgrounds and broaden academic perspectives through virtual classrooms, joint research initiatives, and cultural exchanges.
- Video conferencing in Indian educational institutions is projected to experience rapid growth. This is primarily attributed to the incorporation of advanced video communication services and solutions, including AI (artificial intelligence), the IoT (Internet of Things), and cloud-based technologies. The rising internet user population in urban and rural areas of India is anticipated to expedite the adoption of video conferencing technologies. The country's comparatively lower internet connectivity costs compared to global rates are expected further to boost the growth of video conferencing in educational settings.
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India is Expected to Experience Significant Growth During the Forecast Period
- The video conferencing hardware market in the country is experiencing growth due to the rapid progress of technology, increasing demand for affordable and effective communication solutions, government efforts to promote digitalization and connectivity, and the impact of the pandemic. The advancements in video conferencing hardware technology, including USB cameras, enterprise headsets, interactive features, high-definition video quality, and immersive audio experiences, are driving the adoption of video conferencing hardware in India.
- Organizations seek advanced solutions that offer enhanced user experiences, reliability, and security to meet communication and collaboration needs. Video conferencing hardware solutions provide cost-effective and scalable options compared to traditional in-person meetings or travel. Organizations in India are attracted to the cost savings, efficiency gains, and flexibility offered by video conferencing solutions, making the hardware types attractive investments for businesses of all sizes.
- Live commerce has brought about a major change in online shopping. It involves selling online products through live videos, where customers can interact with the brand in real time. One-on-one video shopping allows for a stronger connection between the customer and the sales representative without the usual distractions of in-person shopping. The Retailers Association of India reported that the retail trade industry saw the largest sales growth of 15% in the footwear and food categories in June 2023. On the other hand, sales growth in apparel and clothing was 7% during the same year in India.
- Educational institutions in India are leveraging video conferencing hardware to facilitate online learning, remote lectures, and interactive educational experiences for students and educators. The adoption of video conferencing hardware solutions in the academic sector is driven by the need to ensure learning, enhance educational accessibility, and adapt to changing teaching and learning paradigms.
- Indian government initiatives promoting digitalization and technology adoption, such as Digital India and smart city projects, drive the demand for video conferencing hardware. Public sector organizations and government agencies are investing in video conferencing solutions to enhance communication, collaboration, and service delivery to citizens. For instance, the Ministry of Finance (India) reported that the expenditure on the Smart City Mission in India was approximately INR 53 billion in the financial year 2022 and was expected to surpass INR 68 billion in the fiscal year 2023. The objective of the mission is to bring about a transformation in urban infrastructure by improving the quality of life for citizens through the implementation of technology, data-driven solutions, and efficient urban planning.
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