The COVID-19 crisis has changed the organizational perspective about remote work and learning and the critical role video conferencing plays in enabling remote collaboration. Though the COVID-19 pandemic continues to hamper economic activities worldwide, the overall investments across the region, especially in China, contributed to a strong performance. The global enterprise video conferencing endpoints and infrastructure market is projected to reach $1.46 billion in 2027, up from $864.4 million in 2020, at a compound annual growth rate of 7.8%.
“While the economic contractions led to delays in project rollouts and restricted the growth in most markets, the surge in demand in Greater China during the COVID-19 lockdowns partially offset the decline and helped boost Asia-Pacific’s overall revenue growth,” noted Youngso Lee, Senior Research Analyst, ICT at Frost & Sullivan. “Due to the strict virus containment measures and significant government support in the form of fiscal policies and financial aid, many large enterprises in China adopted video conferencing.”
Lee added, “In addition to China, the addressable market in Asia-Pacific is expanding with the availability of superior broadband infrastructure extending high-quality network coverage to rural areas. Overall, the use of video conferencing to redefine business models in education, healthcare, and government is becoming a best practice for late adopters in emerging and developing countries in Asia-Pacific.”