launched Messenger Rooms which allows end-users to hold video conferences with up to 50 people.
Similarly, Logitech launched the Logitech StreamCam for content creators and broadcasters. which provides a visual conferencing meeting solution series for Microsoft Teams rooms, including the G80-T, Poly G40-T, and G10-T. The study includes the conferencing system such as Plantronics, Inc.
For instance, in January 2022, RingCentral, Inc., a cloud-based video collaboration provider, launched new education product portfolio to support hybrid learning for educational institutes. Further, increasing demand for remote learning is anticipated to drive market growth. Organizations and corporations are adopting video collaboration solutions with the aim to make faster decisions and avoid high costs associated with traveling. Furthermore, the growing need for video communication, virtual workforce management, and cloud-based collaboration platform are some of the major factors impacting market growth. The integration of developed technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud technology is expected to drive market growth in the near future. Video conferencing sessions are real-time visual sessions between one or more participants. The market is projected to grow from USD 7.76 billion in 2023 to USD 17.05 billion by 2030, exhibiting a CAGR of 11.9% during the forecast period. The global video conferencing market size was valued at USD 7.02 billion in 2022.
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