The global conference room solutions market is estimated at US$ 1,521.9 million in 2023. The market is projected to reach US$ 6,068.1 million by 2033, exhibiting a CAGR of 14.8% from 2023 to 2033.
The market is expected to grow significantly as a result of several factors, including an expanding need for dependable and cost-effective conference room solutions, investments in digitizing the workspace, rising demand for high-performance conferencing solutions, and the growing array of cost-effective conferencing solutions software, as well as relevant breakthroughs in technology.
| Attributes | Details |
|---|---|
| Conference Room Solutions Market Value (2022) | US$ 1,344.4 million |
| Conference Room Solutions Market Value (2023) | US$ 1,521.9 million |
| Conference Room Solutions Market Expected Value (2033) | US$ 6,068.1 million |
| Conference Room Solutions Market Projected CAGR (2023 to 2033) | 14.8% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Many small and medium-sized businesses around the world have adopted advanced conference room solutions in past years to simplify conferencing and improve employee communication. FMI has projected the global Conference Room Solutions market to witness a growth in revenue from US$ 1,521.9 million in 2023 to US$ 6,068.1 million by 2033.
Collaborations between technology solution companies contribute to the increase in revenue of conference room strategies. Throughout forecasting, technologies associated with digital transformation such as AI/ML, cloud computing, analytics, and others are generating new potential for development. This is particularly true in the BFSI sector.
Frequent advancements and the execution of new solutions/software including integrated communication and meeting event coordinators/scheduling software for work-from-home apps are opening up novel possibilities for expansion for conference room solutions.
New conference room solutions guidelines permit greater performance requirements and guarantee superior accessibility for users while simplifying the design and manufacturing processes.
Advantages such as low cost and simple conferencing processes, as well as the ability to integrate with cloud solution providers, are driving an increase in the global use of conference room solutions. The incorporation of technologies including IoT, Big Data, Artificial Intelligence, and others is likely to result in an advancement of conference room solution characteristics with enhanced efficiency.
Principal Consultant
Conference room solution providers have a long history of launching or speeding up their growth by acquiring promising startups. This planned, yet aggressive strategy towards business growth, combined with strong implementation, enabled major players to continue to maintain their lead while expanding the range of their products and clientele, which ranged from big corporations to small and medium-sized businesses.
For instance, in September 2019, Cisco System Inc. acquired Voicea, an American company that offers real-time solutions with confidentiality of data, such as meeting transcription, voice querying, and meeting highlights/action items. The company intends to expand its Webex range of products with a transcription service that combines AI and Automated Speech Identification.
Inadequate numbers of seats and inadequate facilities capability are two of the challenges that businesses face when setting up conference room approaches.
Various laws and regulations mandate such as the Sarbanes Oxley Act (SOA) and HIPAA present different challenges for businesses in terms of safeguarding customer information and keeping compliance levels during meetings.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
According to the report, the United States was predicted to account for a market share of 22.1% in 2022. Because of the country's strong presence of service providers, the United States is expected to emerge as the most significant market for conference room solutions. This is due to increased demand from various industries such as IT and telecommunications, BFSI, healthcare, retail, media and entertainment, and others.
Progressive advancement in cloud communication has resulted in greater choice, flexibility, and cost-saving approaches to conferencing within companies in North America, particularly in the United States, which is expected to support long-term advancements.
Germany was predicted to account for a market share of 9.6% in 2022. Many small and medium-sized businesses in Germany have adopted advanced conference room solutions in recent years to improve communication among employees. As a result of the European Union's favorable business policies and free workforce mobility, enterprises in the region operate from multiple locations across Europe.
The growing number of employees who are mobile is encouraging organizations to implement advanced connectivity solutions. FMI places Germany as the second-largest market, a ranking that it is likely to hold throughout the forecast period.
The conference room solutions market in China is anticipated to expand at a CAGR of 16.2% over the forecast period. As a result of the substantial number of Tier II and Tier III producers and vendors in China, the marketplace for conference room solutions in the nation has surged dramatically.
Several enterprises in the nation are implementing high-performance conferencing solutions to improve their communication systems and drive higher efficiency and visibility across the company. Key players in different industries, including IT and telecom, manufacturing, BFSI, and logistical and shipping services, are working to reduce shortcomings and obstacles to communication while boosting group work quality of the result.
The market is divided into end use industries such as IT & Telecom, BFSI, healthcare, retail, media and entertainment, transportation and logistics, education, manufacturing, and others. The IT and Telecom industry segment dominated the global conference room solutions marketplace, accounting for 23.2% of the entire market by the end of 2022.
The expansion of unified interaction and cooperation, voice and web conferencing, accessibility, real-time interactions, team collaboration, and unified messaging generate significant market contributions. In this sector, such factors contribute to the widespread implementation of conference room solutions.
The market is divided into three components: hardware, software, and services. The conference room solutions hardware segment dominated the market, accounting for nearly 45.60% of the overall market value by the end of 2020.
Flat screens, projectors, cameras, interactive/digital whiteboards, and other products are included in the hardware segment. These conference room solutions include features including real-time interactivity, superior video conferencing functionality, screen recording, and the invention of software for smartphones. The dependability of such features is driving demand throughout the world.
To achieve a competitive edge, market participants are concentrating on innovation and strategic collaborations. For instance,
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 14.8% from 2023 to 2033 |
| Market Value in 2023 | US$ 1,521.9 million |
| Market Value in 2033 | US$ 6,068.1 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Key Segments Covered |
|
| Regions Covered |
|
| Key Countries Covered |
|
| Key Companies Profiled |
|
| Customization & Pricing | Available upon Request |
Unified interactions and collaboration tools drive market growth.
The market is forecast to register a CAGR of 14.8% through 2033.
The incorporation of technologies including IoT, Big Data, is the top trend.
Germany’s market expanded at a CAGR of 9.6% in 2022.
The United States dominates the conference room solutions market.
1. Executive Summary | Conference Room Solutions Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
5.3.1. Hardware
5.3.1.1. Flat Screens
5.3.1.2. Projectors
5.3.1.3. Cameras
5.3.1.4. Digital Whiteboards
5.3.2. Software
5.3.2.1. Unified Communication and Collaboration
5.3.2.2. Document Management
5.3.2.3. Scheduling
5.3.2.4. Others
5.3.3. Services
5.3.3.1. Professional Services
5.3.3.2. Managed Services
5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprises Size
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Enterprises Size, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprises Size, 2023 to 2033
6.3.1. Small & Medium Enterprises (SMEs)
6.3.2. Large Enterprises
6.4. Y-o-Y Growth Trend Analysis By Enterprises Size, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Enterprises Size, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Vertical , 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vertical , 2023 to 2033
7.3.1. IT & Telecom
7.3.2. BFSI
7.3.3. Healthcare
7.3.4. Retail
7.3.5. Media & Entertainment
7.3.6. Logistics
7.3.7. Education
7.3.8. Manufacturing
7.3.9. Others
7.4. Y-o-Y Growth Trend Analysis By Vertical , 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Vertical , 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. South Asia
8.3.5. East Asia
8.3.6. Oceania
8.3.7. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. The USA
9.2.1.2. Canada
9.2.2. By Component
9.2.3. By Enterprises Size
9.2.4. By Vertical
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Component
9.3.3. By Enterprises Size
9.3.4. By Vertical
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Component
10.2.3. By Enterprises Size
10.2.4. By Vertical
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By Enterprises Size
10.3.4. By Vertical
10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United Kingdom
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Component
11.2.3. By Enterprises Size
11.2.4. By Vertical
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By Enterprises Size
11.3.4. By Vertical
11.4. Key Takeaways
12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Malaysia
12.2.1.3. Singapore
12.2.1.4. Thailand
12.2.1.5. Rest of South Asia
12.2.2. By Component
12.2.3. By Enterprises Size
12.2.4. By Vertical
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By Enterprises Size
12.3.4. By Vertical
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Component
13.2.3. By Enterprises Size
13.2.4. By Vertical
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By Enterprises Size
13.3.4. By Vertical
13.4. Key Takeaways
14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. Australia
14.2.1.2. New Zealand
14.2.2. By Component
14.2.3. By Enterprises Size
14.2.4. By Vertical
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Component
14.3.3. By Enterprises Size
14.3.4. By Vertical
14.4. Key Takeaways
15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Component
15.2.3. By Enterprises Size
15.2.4. By Vertical
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Component
15.3.3. By Enterprises Size
15.3.4. By Vertical
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2022
16.1.2.1. By Component
16.1.2.2. By Enterprises Size
16.1.2.3. By Vertical
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2022
16.2.2.1. By Component
16.2.2.2. By Enterprises Size
16.2.2.3. By Vertical
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2022
16.3.2.1. By Component
16.3.2.2. By Enterprises Size
16.3.2.3. By Vertical
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2022
16.4.2.1. By Component
16.4.2.2. By Enterprises Size
16.4.2.3. By Vertical
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2022
16.5.2.1. By Component
16.5.2.2. By Enterprises Size
16.5.2.3. By Vertical
16.6. United Kingdom
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2022
16.6.2.1. By Component
16.6.2.2. By Enterprises Size
16.6.2.3. By Vertical
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2022
16.7.2.1. By Component
16.7.2.2. By Enterprises Size
16.7.2.3. By Vertical
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2022
16.8.2.1. By Component
16.8.2.2. By Enterprises Size
16.8.2.3. By Vertical
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2022
16.9.2.1. By Component
16.9.2.2. By Enterprises Size
16.9.2.3. By Vertical
16.10. India
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2022
16.10.2.1. By Component
16.10.2.2. By Enterprises Size
16.10.2.3. By Vertical
16.11. Malaysia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2022
16.11.2.1. By Component
16.11.2.2. By Enterprises Size
16.11.2.3. By Vertical
16.12. Singapore
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2022
16.12.2.1. By Component
16.12.2.2. By Enterprises Size
16.12.2.3. By Vertical
16.13. Thailand
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2022
16.13.2.1. By Component
16.13.2.2. By Enterprises Size
16.13.2.3. By Vertical
16.14. China
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2022
16.14.2.1. By Component
16.14.2.2. By Enterprises Size
16.14.2.3. By Vertical
16.15. Japan
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2022
16.15.2.1. By Component
16.15.2.2. By Enterprises Size
16.15.2.3. By Vertical
16.16. South Korea
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2022
16.16.2.1. By Component
16.16.2.2. By Enterprises Size
16.16.2.3. By Vertical
16.17. Australia
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2022
16.17.2.1. By Component
16.17.2.2. By Enterprises Size
16.17.2.3. By Vertical
16.18. New Zealand
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2022
16.18.2.1. By Component
16.18.2.2. By Enterprises Size
16.18.2.3. By Vertical
16.19. GCC Countries
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2022
16.19.2.1. By Component
16.19.2.2. By Enterprises Size
16.19.2.3. By Vertical
16.20. South Africa
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2022
16.20.2.1. By Component
16.20.2.2. By Enterprises Size
16.20.2.3. By Vertical
16.21. Israel
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2022
16.21.2.1. By Component
16.21.2.2. By Enterprises Size
16.21.2.3. By Vertical
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Component
17.3.3. By Enterprises Size
17.3.4. By Vertical
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. Cisco Systems, Inc.
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.2. Microsoft Corporation
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.3. Huawei Technologies Co., Ltd.
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.4. Alphabet, Inc. (Google)
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.5. Adobe Systems Incorporated
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.6. LogMeIn, Inc.
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.7. Polycom (Plantronics, Inc.)
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.8. Zoom Video Communications, Inc.
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.9. ZTE Corporation
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.10. Premiere Global Services, Inc.
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
Travel and Tourism
October 2022
REP-CN-2986
250 pages
Explore Technology Insights
View Reports
Conference Room Solutions Market
