The period from 2012 to 2016 was comparatively slow for conference room solutions market growth. As correctly analysed by Future Market Insights, the conference room solutions market reflected a positive yet slow growth graph during this period, but the global market is expected to reflect high growth in the coming years. The research report on global conference room solutions market reflects all scenarios of growth of the market across regions in the globe. This delivers the actual picture of the market thus supporting several strategy decisions. The global conference room solutions market is anticipated to grow at a meteoric rate and register a high CAGR of 13.6% throughout the period of assessment, 2017-2027. In 2016, the global market stood at US$ 415.5 Mn and rising a little more in 2017, it is expected to reach a value of more than US$ 1,600 Mn by the end of the year of assessment (2027).
Cloud service providers to present growth opportunities for vendors dealing with conference room solutions
In this ever changing technological world, cloud service providers are playing significant role. With the continuous advancements in cloud security, large number of enterprises are opting for cloud services, be it software-as-a-service (SaaS) or cloud storage. For conference room solution providers, cloud service providers create huge opportunity in terms of providing cost effective solutions to customers. Cloud service providers can also assist conference room solution providers to expand their business in different geographies without expanding their physical distribution channel.
Additionally, telecom service providers across the world are going through digital transformation to increase their network’s internet speed with a view to increase customer satisfaction. To achieve break even, telecom service providers are looking forward to become end-to-end IT solution providers. TSPs also look forward to make collaborations with conference room solution providers and offer unified communication and collaboration as a service to enterprises.
IT and telecom sector to have a big hand in fuelling the growth of the global conference room solutions market
Conference room solutions are used in various industry verticals. IT and telecom vertical has shown higher inclination towards conference room solutions since 2012. The IT and telecom segment in the vertical category is expected to grow at an exponential rate and rise at a CAGR of 14.9% throughout the period of forecast to reach a comparatively high estimation of around US$ 288 Mn by the end of the assessment year. This segment is the largest in terms of market value and share and is likely to dominate the global market during the forecast period.
Media and entertainment segment to grow at a high speed in the years to come
Media an entertainment segment is the third largest segment from a market share perspective and is poised to register a CAGR of 15% during the forecast period. The segment is estimated at about US$ 51 Mn in 2017 and is expected to reach a market valuation of more than US$ 205 Mn by the end of the year of assessment (2027). However, this segment is the fastest growing and is expected to outpace other vertical segments in the coming years.
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