COVID-19 is disrupting the global economy and sternly impacting the health and lives of the people. The major economies that drive the global economy, such as the US, China, and UK,are under the fist of COVID-19. These economies have been driving the industrial sector growth since a long time; therefore, the effect of this pandemic virus is significantly affecting the industrial sector across the globe. Some of the terribly affected industries include the aviation, hospitality, and manufacturing sector. Though, there are some industries that are gaining traction during this awful situation. Video conferencing is one among the major industry that is expected to thrive during this crisis. Video conferencing is considering as an ultimate solution to connect with remote workers, customers, and employees; and, at the same time, prevent direct contact with the people. Implementation of telecommuting can be considered as an obligatory modification, as it can ensure guarantee to employee protection and continuity of a company’s business. The Centers for Disease Control and Prevention (CDC) has suggested the companies to use video conferencing software, as it can mitigate the risk of contracting COVID-19. Such support from the government organizations has been offering growth to the video conferencing industry. The market players are realizing the prospects of the outbreak and engaged in increasing their market size amidst the pandemic.
Government support for video conferencing industry
In addition, the government of the affected countries are taking necessary steps to increase the use of video conferencing software in enterprises. For instance, the Government of India have asked the tech companies to stop sending employees on a foreign assignment, unless and until it is an emergency. At this time, the companies are dealing with foreign assignments through video conferences and calls. Such moves are expected to trigger the video conferencing market during this period. The government of the several states of the affected countries have compelled the private companies to allow work from home to its employees, in order to reduce risks linked to the COVID-19 breakout. IT giants, such as Facebook, Google, and Salesforce, have started asking their employees for work from home. Companies are adopting innovative recruitment process in such a heavy time by engaging video conferences. Government, on the other hand, is using video conferencing software to connect with doctors and administrative of other countries.
Realizing these facts and growth prospects, the companies functioning in the video conferencing software market are introducing new schemes, so as to increase the adoption rate of such software across the globe. For instance, in March 2020, Zoom Video Communications, Inc., a California-based remote conferencing services company, has announced the free access to video conferencing tools for K-12 schools during COVID-19 crisis. By offering some premium tools for free, the market leaders in video conferencing can begin to expand their business for the workforce that works remotely. Some of the other market players that have launched the free version of their software include Google, Microsoft, and Cisco Systems.
OMR Global recently published report on https://www.omrglobal.com/industry-reports/covid-19-impact-on-video-conferencing-market
The Report Covers-
- Historical market growth estimation in the video conferencing industry excluding COVID-19 pandemic effect
- Deviations in the video conferencing industry growth rate due to COVID-19 pandemic
Market Segmentation
- Government
- Commercial
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/covid-19-impact-on-video-conferencing-market
Company Profiled
- 8×8, Inc.
- Cisco Systems, Inc.
- Google LLC
- Lifesize, Inc.
- LogMeIn, Inc.
- Microsoft Corp.
- RingCentral, Inc.
- StarLeaf Ltd.
- Zoho Corp. Pvt. Ltd.
- Zoom Video Communications, Inc.
