South Korea Video Conferencing Hardware Market Rings Up Growth: $51 Million Melody Expected by 2028: Ken Research

GURUGRAM, India, Feb. 21, 2024 /PRNewswire/ — South Korea video conferencing hardware market is humming with activity, expected to reach a harmonious $51 million crescendo by 2028, resonating with a robust CAGR of 3.8%. Ken Research’s ‘South Korea Video Conferencing Hardware Market Outlook 2028′ report delivers an in-depth look at this vibrant landscape, analyzing its key drivers, challenges, and promising future. This press release highlights the key notes of this dynamic market. 

Market Symphony: A Harmonious Blend of Factors 

Beyond facilitating communication, video conferencing hardware plays a crucial role in empowering remote work, boosting educational accessibility, and fostering global collaboration. In 2017, the market reached a size of $34 million, and it’s poised for continued growth, fueled by: 

  • Rising ICT Spending: Increasing investments in information and communication technology across diverse sectors like education, healthcare, and IT/BPM drive demand for high-quality video conferencing solutions. 
  • Growing Enterprise Adoption: Businesses recognize the benefits of video conferencing for remote meetings, training, and client interactions, leading to widespread adoption. 
  • Government Initiatives: Supportive policies promoting e-learning and digital transformation further stimulate market growth. 
  • Enhanced User Experience: Continuous advancements in hardware technology deliver improved audio and video quality, user-friendly interfaces, and seamless integrations, increasing user satisfaction. 
  • Affordable Solutions: Competitive market dynamics are leading to more affordable hardware options, making video conferencing accessible to a wider range of users and organizations. 

Interested to Know More about this Report, Request a Free Sample Report

Market Segments: Diverse Voices in the Chorus 

The report delves into the various segments of the South Korean video conferencing hardware market, offering a comprehensive view: 

  • Endpoint Type: Endpoints remain the dominant segment (70%), followed by infrastructure like servers and management systems (30%). 
  • End User: Corporate offices have the largest share (50%), followed by government and public sector entities (30%) and educational institutions (20%). 
  • Technology: IP-based video conferencing holds the majority share (90%), with traditional ISDN-based systems declining due to their limitations. 

Competitive Landscape: A Stage for Global and Local Players 

The market features a mix of established global players and innovative local companies: 

  • Global Powerhouses: Cisco, Polycom, and Logitech lead the pack with their extensive product portfolios and brand recognition. 
  • Local Stars: Korean players like Hanwha Techwin and LG Electronics are gaining traction with their competitive offerings and localized support. 
  • New Entrants: Emerging startups are introducing innovative solutions, particularly in mobile and cloud-based video conferencing, adding to the competitive mix. 

Challenges: Tuning the Notes of the Market 

Despite the positive outlook, some challenges need to be addressed: 

  • Limited Bandwidth: In certain areas, limited internet bandwidth can hinder the adoption of high-definition video conferencing. 
  • Security Concerns: Ensuring data security and privacy remains a crucial concern for users, requiring robust security measures from vendors. 
  • Lack of Awareness: Raising awareness about the benefits of video conferencing, particularly among smaller businesses and institutions, is necessary for wider adoption. 
  • Price Sensitivity: Price remains a key factor for many buyers, requiring vendors to offer cost-effective solutions without compromising on quality. 

Visit this Link :- Request for custom report

Future Outlook: A Harmonious Collaboration for Growth 

The South Korean video conferencing hardware market is poised for continued growth, driven by several exciting factors: 

  • Focus on Collaboration & Mobility: Increased demand for collaborative tools and solutions optimized for mobile devices will create new opportunities for market expansion. 
  • Cloud-Based Solutions: Growing adoption of cloud-based video conferencing solutions will offer flexibility, scalability, and cost-effectiveness, attracting new users. 
  • Integration with AI & IoT: Integration with artificial intelligence and internet of things technologies will enhance user experience and functionality, driving innovation. 
  • Focus on Emerging Technologies: Continued advancements in augmented reality and virtual reality technologies hold potential for revolutionizing video conferencing experiences in the future. 

Key Takeaways for Stakeholders: 

This report offers valuable insights for various stakeholders in the South Korean video conferencing hardware market, including: 

  • Hardware Vendors: Focus on developing innovative, user-friendly, and secure solutions at competitive price points. 
  • System Integrators: Offer customized solutions and integration services to meet the specific needs of businesses and organizations. 
  • Solution Providers: Partner with hardware vendors and integrators to provide comprehensive video conferencing solutions for end users. 
  • Policymakers: Implement policies that promote the adoption of video conferencing technologies and address concerns like data security and bandwidth limitations. 

Conclusion 

Remember, the future of the South Korean video conferencing hardware market is not just about technology, but about fostering collaboration, communication, and human connection across geographical and cultural boundaries. By working together, stakeholders can ensure that this market plays a harmonious role in shaping a more connected and productive future for South Korea and beyond.

Request free 30 minutes analyst call

Taxonomy

South Korea Video Conferencing Hardware Market Segmentation

By Hardware Type

  • Endpoints
  • Infrastructure

By Endpoints

  • Monitor
  • USB Camera
  • CODEC

By USB Camera

  • Small/medium room
  • Big size room

By End-user

  • Engineering
  • IT
  • Government
  • Academia
  • Financial
  • Healthcare
  • Hospitality
  • Others

By Region

  • Seoul
  • Busan
  • Daejeon
  • Others

For More Insights On Market Intelligence, Refer To The Link Below: –

South Korea Video Conferencing Hardware Market

Related Reports by Ken Research: –

US Sensors and Actuators Market Outlook to 2028 By product type –Sensor (Pressure Sensors, Temperature Sensors and others) and Actuators (Hydraulic Actuators Pneumatic Actuators, Electrical Actuators and others), By End user (Automotive, Healthcare, Oil, & Gas, Consumer Electronics and others) and By Regional Split (North/East/West/South)

The sensors and actuators market is expected to grow with a CAGR of ~6.5% between 2017-2022 driven by the increasing demand for sensors and actuators of smaller size and increased performance in industrial automation, consumer electronics, Internet of Things (IoT), and implantable electronic applications. The growing demand for MEMS sensors used in advanced driver assistance systems (ADAS) which support increasing road safety will further drive this segment.

US Enterprise Resource Planning Market Outlook to 2028 Driven by growing investment in enterprise resource planning and transformation towards digital economy

US Enterprise Resource Planning market is expected to show increasing and is expected to grow at a CAGR of ~9% from 2022 to 2028 with rapid globalization & technological advancements in the enterprise resource planning industry, in order to compete with the global companies.

Europe Blockchain in BFSI Market Outlook to 2028 Segment by Type (Private, Public, Consortium, and Hybrid), By Application (Digital Currency, Record Keeping, and Payments & Settlement), By Region/Countries (United Kingdom, Germany, France, Spain, Italy, and Switzerland)

The European blockchain in the BFSI market is estimated to grow at a CAGR of 65% in the forecasted period of 2022-2028. The primary growth drivers of the market are the growing demand for comprehensive security procedures, higher compatibility with the financial services sector ecosystem, and faster and less expensive cross-border payment systems.

UAE IT Service Market Outlook to 2027 Driven by Assessment of UAE IT Services Market and Recommendations on Organization Structure & Service Offerings for Ankabut

The UAE has strategic intentions to expand its investments in data centers, with plans to allocate up to AED ~4 billion by 2026 for this purpose. The IT sector is poised to experience substantial benefits from Etisalat’s ambitious initiatives, including the implementation of 6G technology and the enhancement of its Research and Development (R&D) center in the UAE.

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-

Ken Research Private Limited

Ankur Gupta, Director Strategy and Growth

[email protected]

+91-9015378249

Logo: https://mma.prnewswire.com/media/1954972/3782349/Ken_Research_Logo.jpg

SOURCE Ken Research


Go to Source