Omdia: Global Video Conferencing Market Grows 5% to $18 Billion in 2024 Despite Economic Uncertainty
The global video conferencing (VC) market continues to demonstrate resilience, growing by 5% year-over-year in 2024, to reach $18 billion in revenue according to new analysis from Omdia's Market Landscape report. This growth comes despite challenging geopolitical conditions and ongoing economic uncertainties, factors that could influence hybrid work policies, as businesses continue to reimagine the future of work. With this momentum, the market is projected to continue expanding through 2029.
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Total video conferencing equipment market revenue
'This isn't merely about weathering the storm, it's about strategic transformation,' said Prachi Nema, Principal Analyst, Digital Workplace, Omdia. 'While North America appears saturated and EMEA shows signs of stagnation, Asia & Oceania continue to show promising growth. This reflects the trend in AI adoption, with companies increasingly emphasizing collaboration tools to boost employee productivity in hybrid work settings.
The collaborative meetings market grew 4% in 2024, while the VC devices experienced a 6% year-over-year increase. This growth is particularly noteworthy amid ongoing economic slowdowns and shifting enterprise priorities.
In the short-to-medium term, Omdia expects the market to grow at a 5% CAGR over the next five years, with total revenue reaching $21 billion by 2029. New users in Asia & Oceania, and EMEA, as well as emerging use cases across sectors such as healthcare, education, and finance, will drive this growth.
Additionally, several factors are reshaping the video conferencing landscape:
'However, the market is becoming increasingly commoditized, with very little product differentiation between vendors' offerings,' said Nema.
The research highlights a significant disparity in meeting room infrastructure worldwide, with only 6.25% of all meeting rooms fully equipped as standardized spaces or native meeting rooms such as Microsoft Teams Rooms or Zoom Rooms. However, the market for bring-your-own-device (BYOD) rooms is significantly larger than standardized meeting rooms. The demand for BYOD rooms, particularly those that provide quick and easy wired/wireless meeting capabilities, is on the rise.
Regionally, North America leads with a 42% subscription market share within collaborative meeting services, followed by Europe, the Middle East, and Africa (EMEA) at 27%. Asia & Oceania owns 25% share of the subscription. Globally, only 28% of all meeting rooms have some form of VC capability, highlighting significant growth opportunities for vendors capable of overcoming cost and deployment barriers.
About Omdia
Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets grounded in real conversations with industry leaders and hundreds of thousands of data points, make our market intelligence our clients' strategic advantage. From R&D to ROI, we identify the greatest opportunities and move the industry forward.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250804107661/en/
CONTACT: Contact:
Fasiha Khan:[email protected]
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: CONSUMER ELECTRONICS TECHNOLOGY SEMICONDUCTOR OTHER TECHNOLOGY TELECOMMUNICATIONS SOFTWARE NETWORKS INTERNET VOIP MOBILE/WIRELESS HARDWARE
SOURCE: Omdia
Copyright Business Wire 2025.
PUB: 08/04/2025 06:30 AM/DISC: 08/04/2025 06:30 AM
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