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Global Managed Video Conferencing Service Market - Cloud-based video conferencing and corporate buyers will dominate the market growth in the coming years
The global managed video conferencing service market accounted for US$ 886.3 million in 2020 and is estimated to be US$ 1381.0 million by 2029 and is anticipated to register a CAGR of 5.1%
Covina, CA, Aug. 04, 2020 (GLOBE NEWSWIRE) -- The report "Global Managed Video Conferencing Service Market, By Service (Site Staffing, Remote Management & Monitoring, Help Desk & Troubleshooting, and Infrastructure Management), By Component (On-premise Model, Cloud Model, and Hybrid Model), By End-user (Corporate Enterprise, Healthcare, Government & Defense, Education, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
In April 2020, Facebook, Inc. declared to launch Messenger Rooms, the solution permitting users to conduct conference with up to 50 people. The company has focused on security and privacy features due to the growing concerns over cybersecurity in video conferencing applications particularly during coronavirus pandemic. The features will enable the company to capture more customer engagement with video messaging platforms.
In March 2020, Zoom Video Communications, Inc., a California-based remote conferencing services company, has declared the free access to video conferencing tools during COVID-19 crisis for K-12 schools. Additionally, the company's stock prices have increased with the last few months as the investors are as certain that the virus could possibly propel the demand for Zoom's video conferencing products.