Speech Analytics Market Worth $14.1 Billion by 2029

 

According to a new market research report titled, ‘Speech Analytics Market by Component, Application, Organization Size, Deployment Mode, End-use Industry (IT & Telecommunication, BFSI, Retail & Consumer Goods, Healthcare & Life Sciences, Business Process Outsourcing)—Global Forecast to 2029’, the global speech analytics market is expected to register a CAGR of 20.1% from 2022 to 2029 to reach $14.1 billion by 2029.

 

Speech Analytics is the process of extracting meaningful insights from audio recordings and analysing that data for relevant and meaningful business intelligence. The key applications of speech analytics include customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, and fraud detection & security applications. Speech analytics solutions are increasingly gaining traction due to their growing utilization across numerous industries, including contact & call centres, healthcare & life sciences, and media and entertainment.

 

Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5364?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=10-11-2022

 

The growth of the global speech analytics market is driven by factors such as the surge in demand for speech analytics to improve contact centre operations, the emergence of speech analytics to enhance fraud detection, and the rising demand for speech-based biometric systems during the COVID-19 pandemic. However, data privacy and security concerns represent a notable restraint for market growth. The increasing demand for speech analytics in the healthcare sector and the growing demand for cloud-based speech analytics solutions to bolster customer retention are expected to offer significant growth opportunities for the speech analytics market. Besides, limited use cases of real-time speech analytics at present, pose a serious challenge to the overall growth of the speech analytics market.

 

Impact of COVID-19 on the Speech Analytics Market

 

The COVID-19 pandemic created several challenges for the speech analytics market due to the lockdowns imposed during the second and third quarters of 2020. The pandemic lowered the financial capacity of end user industries, which decreased the sales of speech analytics solutions and services. However, in 2021, major industries, including call centres, BFSI, retail, healthcare and life sciences, started recovering from the economic setback suffered during the pandemic. The COVID-19 pandemic moderately impacted the speech analytics market due to delayed and postponed orders for speech analytics solutions; however, it started recovering rapidly from the last quarter of 2020. Social distancing became the new norm, and these restrictions had long-term effects on several areas, including the development, distribution, and deployment of speech analytics solutions. Several companies worldwide reduced employee contact and interaction and adapted to stringent government guidelines to curb the spread of infection.

 

Different leading speech analytics providers leveraged a strong portfolio of speech analytics solutions and enhanced their product capabilities during the COVID-19 pandemic, consequently promoting the growth of the speech analytics market. For instance, in 2022, NICE Ltd. (Israel) launched the NICE NTR-X solution for compliance recording capture for communications done via Zoom, including Zoom Meetings and Zoom Phone, a feature-rich cloud phone solution. Furthermore, in 2021 NICE Ltd. (Israel) launched Enlighten XO, a first-of-its-kind solution that automatically generates insights from human conversations to build smart self-service with advanced AI.

 

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5364?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=10-11-2022

 

Speech analytics solution providers plan to capitalize on the lucrative market growth opportunities resulting from the COVID-19 pandemic. The speech analytics market is projected to transform drastically over the coming years, with several leading companies growing rapidly through new product launches, product enhancements, and partnerships and collaborations for capitalizing on the market growth.

 

The global speech analytics market is segmented by component (solutions [call centre software, reporting and visualization tools, quality assurance & monitoring solutions, enterprise performance management solutions, customer experience solutions, customer engagement solutions, other solutions (root cause analysis solutions, customer journey management], services [professional services, managed services]), application (customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, fraud detection and security application, other applications (quality assurance, real-time alerting), organization size (small & medium-sized enterprises, large enterprises), deployment mode (on-premise deployment, cloud-based deployment), and end-use industry (IT & telecommunications, BFSI, retail & consumer goods, healthcare & life sciences, government & public sector, travel & hospitality, media & entertainment, business process outsourcing, education, other end-use industries). The study also evaluates industry competitors and analyzes the market at regional and country levels.

 

Based on component, the global speech analytics market is segmented into solutions and services. In 2022, the solutions segment is expected to account for the larger share of the speech analytics market. The large share of this segment is attributed to the rising proliferation of speech analytics software in call centers, the growing demand for reporting and visualization tools across retail industries, and the increasing need for customer experience and engagement solutions. Additionally, the speech analytics solutions segment is expected to register the highest CAGR during the forecast period.

 

Based on application, the global speech analytics market is segmented into customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, fraud detection & security applications, and other applications (quality assurance, real-time alerting). In 2022, the sales and marketing management segment is expected to account for the largest share of the global speech analytics market. The large share of this market segment is attributed to the increasing need for improved customer experience in sales and marketing departments, the rising need for speech analytics solutions to identify effective patterns to close sales deals and develop a training program to mentor other team members, rising demand of call monitoring solutions for spotting competitive challenges, and growing need for identifying cross and upsell opportunities.

 

Quick Buy – Speech Analytics Market- Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/66177984?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=10-11-2022

 

Based on organization size, the speech analytics market is segmented into small & medium-sized enterprises and large enterprises. In 2022, the small & medium-sized enterprises segment is expected to account for the larger share of the global speech analytics market. The large share of this market segment is majorly attributed to the growing demand for improved operational efficiency in small customer service environments, growing demand for automating customer interactions in call centre operations, and the growing proliferation of call recording and speech analytics technology in small organizations. Additionally, this segment is expected to register the highest CAGR during the forecast period.

 

Based on deployment mode, the speech analytics market is segmented into on-premise deployment and cloud deployment. In 2022, the cloud-based deployment segment is expected to account for a larger share of the global speech analytics market. The large share of this market segment is attributed to the growing demand for secure cloud-based speech analytics software, the rising need for cloud-based communication solutions, the increasing need to store and analyse data through cloud platforms, and the growing benefits offered by highly sophisticated cloud-based speech analytics software.

 

Based on end-use industry, the global speech analytics market is segmented into IT & telecommunications, BFSI, retail & consumer goods, healthcare & life sciences, government & public sector, travel & hospitality, media & entertainment, business process outsourcing, education, others (FMCG, automotive). In 2022, the IT & telecommunications segment is expected to account for the largest share of the global speech analytics market. The large share of this market segment is attributed to increasing demand for speech analytics solutions by telecom companies to gather more actionable information in less time, increasing demand to boost customer retention by building loyalty and maintaining customer relationships, and growing popularity for solutions to implement protocols to seize opportunities for cross-selling and upselling in IT & telecom industry. However, the business process outsourcing segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to factors such as the growing demand to resolve simpler customer queries using AI-based chatbots and the increasing proliferation of speech analytics solutions to monitor agent performance and assess call quality.

 

Based on geography, the global speech analytics market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, North America is expected to account for the largest share of the global speech analytics market. The large market share of this region is attributed to the increasing adoption of emotion analysis solutions in customer experience management; expansion of e-commerce platforms; growing focus on customer satisfaction; rising demand for speech analytics software to maintain inbound, outbound, and blended calls, e-mails, web inquiries, and chats; increasing demand for self-service interactions among customers; growing popularity for healthcare fraud analytics and detection solutions across the region; and growing demand for reporting and visualization tools by region's flourishing retail and e-commerce sectors. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the growing technology expenditures in countries such as Australia, China, and India, increasing demand for cost-effective analytical software and services among small and medium-sized enterprises (SMEs), and increasing usage and consciousness of speech and voice recognition devices in the automotive sector.

 

The key players operating in the global speech analytics market are NICE Ltd. (Israel), Verint Systems Inc. (U.S.), CallMiner, Inc. (U.S.), Genesys Cloud Services, Inc. (U.S.), Avaya Holdings Corp. (U.S.), Audio Analytic Ltd. (U.K.), Calabrio, Inc. (U.S.), Batvoice Technologies (France), Qualtrics, LLC (U.S.), Dialpad, Inc. (U.S.), WinterLight Labs (Canada), The Plum Group, Inc. (U.S.), Aural Analytics, Inc (U.S.), Amazon.com, Inc. (U.S.), Uniphore Technologies Inc. (India), Intelligent Voice Ltd (U.K.), Kwantics (India), Gnani Innovations Private Limited (India), and SAS Institute Inc. (U.S.).

 

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/speech-analytics-market-5364?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=10-11-2022

Medical Waste Management Market Worth $16.69 Billion by 2029

 

According to a new market research report titled, ‘Medical Waste Management Market by Waste Type (Non-hazardous, Hazardous), Service (Collection, Transport, Treatment (Incineration, Autoclaving, Chemical), Disposal), Source (Hospital, Diagnostic Laboratory, Research Laboratory) - Global Forecast to 2029,’ published by Meticulous Research®, the global medical waste management market is projected to reach $16.69 billion by 2029, at a CAGR of 6.3% from 2022 to 2029.

 

Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5350?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=08-11-2022

 

Medical waste is the waste produced in healthcare or diagnostic activities. It can be both non-hazardous and hazardous waste. Those in contact with medical waste are potentially exposed to various risks such as trauma, infection, chemical, fire or explosion, and radioactivity. In Addition, medical waste also risks environmental pollution and contamination. With the large amount of medical waste generated by hospitals, laboratory and research centers, and nursing homes, there is a high demand for medical waste management services. The report covers various medical waste management services offered by key companies in terms of non-hazardous and hazardous waste collection, transportation and storage, treatment, and recycling. The growth of this market is driven by the increase in the volume of medical waste generated globally, stringent regulations for medical waste management, and growing government initiatives to raise awareness regarding proper medical waste disposal.

 

Impact of COVID-19 on Medical Waste Management Market

 

According to WHO, around 30% of healthcare facilities globally are not equipped to handle medical waste loads. The global medical waste management market experienced tremendous pressure during the COVID-19 pandemic due to the high demand for healthcare waste management services. There is a large concern about hazardous medical waste produced during the COVID-19 pandemic and the risks of contamination associated with waste management. According to WHO, till now, around 10,000 tons of extra medical waste has been generated in response to the COVID-19 pandemic. While countries were actively procuring commodities such as personal protective equipment, PPE kits, diagnostic test kits, disinfectant chemicals, and vaccines, less attention and resources were allocated to the safe and sustainable management of COVID-19-related medical waste.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5350?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=08-11-2022

 

The WHO Global analysis of health care waste in the context of COVID-19 estimates that between March 2020 and November 2021, approximately 87,000 tons of PPE were procured and shipped to various countries to support COVID-19 response needs. Since the start of the pandemic, over 140 million diagnostic test kits that could generate 2,600 tons of medical waste have been shipped globally. Furthermore, as of 7 January 2022, over 9 billion doses of COVID-19 vaccine have been administered globally, producing 144,000 tons of additional medical waste in the form of syringes and needles (88,000 tons) and safety boxes (8,000 tons) (source: WHO). The companies operating in the medical waste management market experienced tremendous strain due to the huge demand for healthcare waste management services. Although these companies reported an increase in revenue due to high demand for COVID-19-related waste management and decontamination services, the amount of medical waste generated tremendously exceeded their waste management capacity. For example, according to an article published (dated April 2021) in SAGE Journals by the International Solid Waste Association, in March 2020, the medical waste generated in Wuhan, China, rose from a normal level of 40 tons per day to approximately 240 tons per day, exceeding the city’s maximum capacity of 49 tons per day. The pandemic has boosted the revenue of companies offering medical waste management services but has also imposed a tremendous strain on the market.

 

Medical Waste Management Market: Future Outlook

 

The global medical waste management market is segmented by waste type (non-hazardous waste and hazardous waste), services (collection, transportation, & storage, treatment [incineration, autoclaving, chemical treatment, and other treatments], and recycling), source (hospitals & clinics, diagnostic laboratories, research laboratories, other sources), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the country and regional-level markets.

 

Based on waste type, in 2022, the non-hazardous waste segment is expected to account for the largest share of the global medical waste management market. The non-hazardous medical waste does not pose any particular biological, chemical, radioactive or physical hazard. The major factor contributing to this segment's large market share is increased surgical procedures globally. Many surgeries are performed globally that generate various types of medical waste, including non-hazardous waste such as plastic packaging, clean glass and plastic, paper, and cardboard. According to Eurostat, in 2020, at least 1.12 million caesarean sections were performed in the EU. For instance, a total of 637,100 caesarean sections were performed in Turkey, while 234,000 and 147 600 caesarean sections were performed in Germany and Poland, respectively (source: Eurostat). Thus, the large number of surgeries performed is expected to boost the demand for medical waste management services.

 

Based on services, in 2022, the collection, transportation, and storage segment is expected to account for the larger share of the global medical waste management market. The large market share of this segment is attributed to the large volume of medical waste generated globally, which further creates demand for medical waste collection, transportation, and storage services. For instance, according to a new article released by the Waste Agency of Catalonia (ARC), in April 2020, an estimated 350% increase in waste (including medical waste such as masks and gloves) since mid-March was observed in Catalonia.

 

Quick Buy – Medical Waste Management Market- Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/74873803?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=08-11-2022

 

Based on source, in 2022, the hospitals & clinics segment is expected to account for the largest share of the global medical waste management market. Hospitals perform various medical procedures that generate non-hazardous and hazardous wastes. The large market share of this segment is mainly attributed to a large number of hospitals and other healthcare facilities globally and government initiatives to promote proper medical waste management. For instance, according to American Hospital Association (AHA) Hospital Statistics, 2022 edition, there are 6,093 hospitals with 920,531 staffed beds in the U.S.

 

Based on geography, the global medical waste management market is segmented into North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the global medical waste management market. The largest share of this region is attributed to a large volume of medical waste generated, rising healthcare expenditures, and growing government initiatives to raise awareness regarding proper medical waste disposal

 

Key companies operating in the global medical waste management market are Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart Inc. (U.S.), Republic Services, Inc. (U.S.), Stericycle, Inc. (U.S.), SUEZ SA (France), VEOLIA ENVIRONNEMENT SA (France), Waste Management, Inc. (U.S.), Sharp Compliance, Inc. (U.S.), and Gamma Waste Services (U.S.).

 

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/medical-waste-management-market-5350?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=08-11-2022

English Language Learning Market Worth $69.62 Billion by 2029

 

English Language Learning Market Worth $69.62 Billion by 2029

 

According to a new market research report titled, ‘English Language Learning Market by Methodology (Blended Learning, Offline Learning, Online Learning), Learning Mode, Age Group, End User (Individual Learners, Educational Institutes, Government Bodies, Corporate Learners), and Geography - Global Forecasts to 2029,’ the market is expected to reach $69.62 billion by 2029, at a CAGR of 9.5% from 2022 to 2029.

English language learning nowadays has become a necessity to sustain a competitive world. The digitalization of the education industry has added to multiple digital learning platforms that offer English language learning techniques and practices. Learning English has numerous advantages, not only for personal development but also for professional growth. Vendors are focusing on offering English language learning solutions that can provide easy and effective communication, enhance the teaching and individual learning experience, and helps overcome learning obstacles.

Download Free Sample Report Now: https://www.meticulousresearch.com/download-sample-report/cp_id=5127?utm_source=blog&utm_medium=social&utm_campaign=Product&utm_content=22-02-2022

The growth in this market is driven by the rising importance of English in business & professional areas, increasing investments in start-ups & small companies teaching English, and the minimal cost of English language learning apps. However, reluctance to accept English as a primary communication tool in some countries may restrain the growth of this market. The increasing spending on the education sector and transnational education (TNE) is expected to create market growth opportunities. However, the dearth of trained professionals to teach English is a major challenge for the players operating in this market.

 

Impact of COVID-19 on the English Language Learning Market

 

The COVID-19 pandemic has been disrupting education systems, particularly affecting the most vulnerable learners and businesses across the globe. According to UNESCO, in 2020, nationwide closures impacted over 60% of the world’s student population, where 188 countries worldwide closed schools nationwide, affecting over 1.5 billion learners and representing more than 91% of total enrolled learners. As a result, imparting education witnessed a dramatic change with the distinctive rise of E-learning.

According to UNICEF, in 2020, approximately 463 million students around the globe faced interruptions in education, mainly due to a lack of remote learning policies or equipment needed for learning at home. Thus, governments around the globe undertook substantial efforts to ensure continuing education opportunities and rolled out initiatives for the growth of the education sector. For instance, in 2021, the United States Department of Agriculture (USDA) announced an investment of approximately USD 42.3 million in distance learning and telemedicine infrastructure to improve education and health outcomes. Also, in 2021, the Government of India and the World Bank signed a USD 500 million deal for the “Strengthening Teaching-Learning and Results for States Program (STARS)” to improve the quality and governance of school education and support the country’s goal of providing ‘Education for All.’ Such developments and the growing adoption of online platforms for English language learning are expected to boost market growth during the forecast period. Also, the rise in remote and online learning during the pandemic and the demand for low-cost language learning platforms and services contributed to the market growth. However, the pandemic decreased offline English language learning as schools conducted online teaching sessions using blended learning. Also, in 2021, China's education administration banned the usage of English in educational institutions. Thus, such low acceptance and banning of English may restrain market growth in the coming years.

 

The global English language learning market on methodology (blended learning, offline learning, online learning), learning mode (self-learning apps and applications, tutoring (one-on-one learning, group learning), age group (<18 years, 18–20 years, 21–30 years, 31–40 years, >40 years), end user (individual learners, educational institutes (k-12, higher education), government bodies, corporate learners), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

Have Any Query? Speak to Analyst at 

https://www.meticulousresearch.com/speak-to-analyst/cp_id=5127?utm_source=blog&utm_medium=social&utm_campaign=Product&utm_content=22-02-2022

Based on methodology, in 2022, the blended learning segment is estimated to account for the largest share of the English language learning market. However, the online learning segment is also projected to register the highest CAGR during the forecast period due to the increasing user base for mobile phones, the growing digitalization in the education sector, the increasing budget allocations and investments for E-learning programs, and the emergence of new online learning platforms after the COVID-19 pandemic.

 

Based on learning mode, in 2022, the tutoring segment is estimated to account for the largest share of the English language learning market. The growing investment in e-learning tools and technologies to enhance the teaching experience, increasing need for education, and demand for cost-effective programs to address the knowledge gap in students.

 

However, the self-learning apps and applications segment is also projected to register the highest CAGR during the forecast period due to the increasing consumer acceptance of low-cost technology-based products, the emergence of new online learning platforms after the COVID-19 pandemic, increasing digitalization of educational content, need for scalable, flexible, and customizable solutions for language learning.

Order Complete Report @ https://www.meticulousresearch.com/Checkout/73019114?utm_source=blog&utm_medium=social&utm_campaign=Product&utm_content=22-02-2022

Based on age group, in 2022, the <18 years segment is estimated to account for the largest share of the English language learning market. The increasing digitization of public schools, rising number of English learners, significant increase in smartphone users, growth in student immigration for higher education, and the growing e-learning platforms are expected to drive the segment growth in the coming years.

However, the 18–20 years segment is projected to register the highest CAGR during the forecast period due to the rising demand for cost-effective learning programs, the rising importance of English in business & professional areas, and the emergence of new online language learning platforms after the COVID-19 pandemic.

 

Based on end user, in 2022, the individual learner’s segment is estimated to account for the largest share of the English language learning market. The rise in adoption of smart devices coupled with faster internet penetration, the increasing need for transmitting live content on the internet for better brand engagement and student reach, and the surging social media platforms are expected to drive segment growth in the coming years. Also, the increase in mobile phone user base, the high number of established language learning sites, and the consistent launch of mobile apps at reasonable prices by key players are the other factors contributing to the segment's high growth.

 

Based on geography, in 2022, Asia-Pacific is estimated to account for the largest share of the English language learning market. The large market share of this region is attributed to the growing need to improve communication across borders, increasing access to language learning platforms, high demand for multilingual professionals, and government initiatives to strengthen national education networks. Also, the high adoption of digital technologies in educational facilities, high education expenditure in the region, various schemes launched for supporting the digitization in education, and increasing disposable income leading to the penetration of the Internet are the other factors contributing to the high growth of the APAC English language learning market.

 

The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2020 and 2022. The English language learning market is consolidated and dominated by a few major players, namely Cambridge University Press (U.K.), New Oriental Education & Technology Group Inc. (China), Houghton Mifflin Harcourt Company (U.S.), McGraw-Hill Education, Inc. (U.S.), Duolingo Inc. (U.S.), Berlitz Corporation (U.S.), Busuu Online S.L. (Spain), Babble GMBH (Germany), Linguistica 360, Inc. (U.S.), Mondly (Romania), ELSA Corp. (U.S.), FluentU (A part of Enux Education Limited) (China), Memrise Inc. (U.K.), Mango Languages (U.S.), Rosetta Stone Ltd. (A part of IXL Learning, Inc.) (U.S.), Inlingua International Ltd. (Switzerland), Sanako Corporation (Finland), Transparent Language, Inc. (U.S.), and Open Education LLC (U.S.).

TOP 10 COMPANIES IN ENGLISH LANGUAGE LEARNING MARKET

 

Video Conferencing: Connecting People Online..!!

 

According to a new market research report titled "Video Conferencing Market by Technology (VaaS, USB-VC, Room-based Codec System), Component, Deployment Mode, Organization Size, End User (Education, IT & Comm., Healthcare, BFSI, Oil & Gas, Legal, Media) - Global Forecast to 2028", published by Meticulous Research®, the video conferencing market is expected to grow at a CAGR of 15.5% from 2021 to 2028 to reach $24.4 billion by 2028.

Video conferencing is a technology that allows users in different locations to hold face-to-face meetings. It is widely utilized for business meetings and training purposes. The use of video conferencing witnessed remarkable growth from 2020 due to the lockdowns imposed by several governments worldwide.

 

The growth of the overall video conferencing market is mainly attributed to the COVID-19 pandemic and the consequent global lockdown, which affected most industries impacting the global economy. To counter this escalating situation, many industries adopted the remote working culture, where employees could safely work from their chosen locations and collaborate using video conferencing apps such as Zoom, Meet, and Teams.

 

In addition to the growing acceptance of the work-from-home culture among various sectors, many industries are also adopting video conferencing tools to reduce quarterly and annual spending on infrastructure maintenance. Companies that have adopted video conferencing tools have also recorded improved employee productivity, time and cost savings on transportation, and improved communication & collaboration among team members, further boosting the demand for video conferencing solutions among various industries.

 

The pandemic has severely affected many sectors globally, including the education sector. However, this sector has quickly adopted the new collaboration solutions and restored itself within just a few months post the lockdown. IT & telecommunication has been the leading adopter of this technology from even before the outbreak of the COVID-19 pandemic. However, the global lockdown further boosted the use of video conferencing technology in the industry. Additionally, the healthcare sector has also increased the adoption of video conferencing solutions to improve patient care & monitoring and reduce the burden on hospital staff and infrastructure.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5195?utm_source=Article&utm_medium=Social&utm_campaign=Product&utm_content=06-07-2022

The Impact of COVID-19 on the Video Conferencing Market

 

The spread of COVID-19 has had an unprecedented impact on public health and industrial structures, accelerating social reforms in several areas. Due to stringent government policies of social distancing, lockdowns, and work from home culture adoption, people were forced to communicate through the latest tools and devices to complete their work. Thus, video conferencing tools gained huge demand through this period. Amongst the disruption caused by the pandemic in the business sector, video conferencing was one of those few entities that witnessed exponential growth in adoption as the need for communicating through remote places grew extensively.

 

The video conferencing market witnessed tremendous growth amidst the pandemic as lockdowns forced many individuals across the globe to work-from-home and attend online classes, which led to a surge in the adoption of popular software like Zoom, Skype, and Microsoft Teams. For instance, in October 2020, Microsoft Teams registered more than 115 million daily active users. Thus, with advancements in technology and increasing usage of this technology, the market is poised to grow immensely.

 

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5195?utm_source=Article&utm_medium=Social&utm_campaign=Product&utm_content=06-07-2022

 

Work-from-home Culture to Drive the Video Conferencing Market Growth

 

The outbreak of the COVID-19 pandemic changed the overall working culture of the majority of the companies around the world due to lockdowns and social distancing policies. The companies had to adopt work from home culture. This led to an increase in dependency of the employees, students, and other professional workers on video conferencing tools such as Skype, Zoom, Google Duo, and Microsoft Teams, among others, for effective communication. As a result, the market observed high traction in the demand and adoption of these tools.

 

Furthermore, by working from home, the companies witnessed improved employee productivity due to less time for commuting, better work-life balance, and location independence. This factor allowed companies to retain this policy for a longer period, increasing the usage of video conferencing tools. In April 2020, Tata Consultancy Services (TCS), an India-based IT service provider, announced its plan to allow 75% of employees, around 4.5 lakh, to work from home until 2025. Furthermore, Infosys, a major IT service provider, has permanently announced flexible work from home model.

 

Video Conferencing Market Overview

 

Meticulous Research® has segmented the overall video conferencing market based on technology (VaaS, USB-VC, room-based codec systems), component, deployment mode, organization size, end user (education, IT & communication, healthcare, BFSI, oil & gas, legal, media), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

 

Based on technology, the video conferencing market is segmented into video-as-a-service (VaaS), USB video conferencing, and room-based codec systems. In 2021, the video-as-a-service (VaaS) segment is expected to account for the largest share of the overall video conferencing market. The growing adoption of video-as-a-service in the corporate, IT & telecommunication, healthcare, education, and public, among other sectors, is driving the growth of this segment. In its most recent versions, video-as-a-service allows for the transmission of full-motion video and high-quality audio between multiple locations. In addition, cloud-based video services enable organizations to deploy video conferencing solutions quickly and with minimal infrastructural investments.

 

Based on component, the video conferencing market is segmented into solutions and services. In 2021, the solutions segment accounted for the largest share of the overall video conferencing market. The larger share of the solutions segment is mainly attributed to the exponential adoption of video conferencing apps such as Zoom, Microsoft Teams, WebEx, and Google Meet among various industries, such as IT & communications and education.

 

Based on deployment mode, the video conferencing market is segmented as cloud deployment and on-premise deployment. In 2021, the cloud deployment segment is estimated to account for the larger share of the overall video conferencing market. The large share of this segment is mainly attributed to the higher efficiency and lower investment requirements of cloud deployment compared to on-premise. The segment is also expected to register a higher CAGR during the forecast period due to the entry of major cloud service providers such as Amazon, Google, and Microsoft.

 

Based on organization size, the video conferencing market is segmented into large enterprises and small & medium-sized enterprises (SMEs). In 2021, the SMEs segment is estimated to account for the larger share of the video conferencing market. The large share of this segment is mainly attributed to the affordable subscription plans and customized user interfaces (UIs) offered by leading video conferencing solution providers.

 

Quick Buy – Video Conferencing Market Research Report: https://www.meticulousresearch.com/Checkout/24911667?utm_source=Article&utm_medium=Social&utm_campaign=Product&utm_content=06-07-2022

 

Based on end user, the video conferencing market is segmented into education; healthcare; government, defence, & public sectors; BFSI; media & entertainment; law & legal; manufacturing; oil, gas, & energy; and IT & telecommunication. In 2021, the IT & telecommunication segment accounted for the largest share of the global video conferencing market. However, the education segment is expected to record the highest CAGR during the forecast period due to the growing number of online education platforms and the need to conduct online lectures among universities and educational institutions, such as colleges and schools.

 

Geographically, the global video conferencing market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, the North American region accounted for the largest share of the global video conferencing market. The large share of North America is attributed to the presence of many IT companies and the growing need to connect their large workforce available at different locations. Also, the region is technologically advanced, and there is swift adoption of video conferencing in daily work schedules. However, the Asia-Pacific region is expected to account for the fastest growth during the forecast period. Rapid growth in the number of SMEs in regional economies and increasing internet penetration are expected to drive the adoption of video conferencing at a significant rate.

 

The four key players in this market are Zoom Video Communication, Inc., Microsoft Corporation, Cisco Systems, Inc., and Google, LLC. These players continuously focus on new product development and launches and agreements, collaborations, & partnerships to increase their respective market shares. The other key players operating in the global video conferencing market are Zoom Video Communication, Inc. (U.S.), Microsoft Corporation (U.S.), Cisco Systems, Inc. (U.S.), Blue Jeans Network Inc. (Verizon) (U.S.), LogMeIn, Inc. (U.S.), Alphabet Inc. (U.S.), ON24, Inc. (U.S.), Dialpad, Inc. (U.S.), TeamViewer AG (Germany), Adobe (U.S.), Blackboard Inc. (U.S.), and Vidyo, Inc. (U.S.) among others.

TOP 10 COMPANIES IN VIDEO CONFERENCING MARKET

Related Reports:

Live Streaming Market by Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type (Audio, Video, Game), Vertical (Media & Entertainment, Education, Sports & Gaming, Government, Fitness), and Region - Global Forecast To 2028

Plant-based Milk Market Worth $42.86 Billion by 2029

 

According to a new market research report titled, “Plant-based Milk Market by Type (Almond Milk, Soy Milk, Coconut Milk, Oat Milk, Rice Milk), Formulation (Unflavoured, Flavoured), Distribution Channel (B2B, B2C (Modern Groceries, Convenience Store, Specialty Store, Online Retail)) - Forecast to 2029,” the market is expected to grow at a CAGR of 11.9% from 2022 to 2029 to reach $42.86 billion by 2029.

In recent years, the popularity of non-dairy or plant-based milk among health-conscious people has been rising. Plant-based milk comprises much lesser sugar compared to livestock milk. Besides, it consists of extra fiber, extra protein, and additional omega-3 fatty acids. The growing levels of lactose intolerance have propelled consumers to choose plant-based milk. Several recommendations by governments and health organizations are also directed toward effectively managing lactose intolerance, accelerating the growth of the plant-based milk market. These milk alternatives offer various nutritional benefits, such as reduced cholesterol levels, improved cardiovascular health, diabetes control, heart health, and immune system. Hence, the consumption of plant-based milk imparts several health benefits, which are expected to fuel the market growth during the forecast period.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5304?utm_source=Article&utm_medium=Social&utm_campaign=Product&utm_content=11-10-2022

 

Plant-based milk industry predictions in light of COVID-19

The coronavirus outbreak led to massive disruptions in travel, manufacturing, services, healthcare, and supply chains, causing havoc in the global financial markets. The crisis caused people to re-evaluate their diets in the food and beverage sector because it has underlined the link between food and health. In the space of the plant-based milk industry, COVID-19 is providing an unexpected boost. The outbreak of COVID-19 and negative associations with animal-based food created the demand for plant-based milk.

 

Plant-based milk can be generated with less dependence on labor, making it less prone to staffing scarcity than animal-based products, which are relatively labor-intensive. Further, medical studies showed that COVID-19 has overwhelmingly impacted people with underlying health conditions like diabetes, hypertension, and heart disease. Plant-based milk can help reduce the effects of the virus on at-risk people as macronutrients, micronutrients, and antioxidants are abundant. From a manufacturing and distributing point of view, this industry faced unprecedented demand from plant-based product manufacturers and consumers.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5304?utm_source=Article&utm_medium=Social&utm_campaign=Product&utm_content=11-10-2022

 

As a result, most food firms changed their marketing and production strategies to promote them more than other traditional healthy foods. As a result of the COVID-19 pandemic, it encouraged most consumers to shift from animal-based milk to plant-based milk due to various health and environmental concerns.

 

The global plant-based milk market is segmented based on type, formulation, distribution channel, and geography. The study also evaluates industry competitors and analyses the market at a country level.

 

Based on type, the global plant-based milk market is mainly segmented into almond milk, soy milk, coconut milk, oat milk, rice milk, and others. The almond milk segment is estimated to account for the largest share of the overall plant-based milk market in 2022. The leading position of this segment is mainly attributed to factors such as an increased number of consumers switching to nut-based lactose-free milk, changing taste preferences, and increasing general health & environmental concerns. This segment is also expected to grow at the fastest CAGR during the forecast period.

 

Based on formulation, the global plant-based milk market is mainly segmented into flavored and unflavored. The unflavored segment is estimated to account for the largest share of the overall plant-based milk market in 2022. However, the flavored segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing demand for ready-to-drink beverages.

 

Quick Buy – Plant-based Milk Market Research Report: https://www.meticulousresearch.com/Checkout/42973381?utm_source=Article&utm_medium=Social&utm_campaign=Product&utm_content=11-10-2022

 

Based on distribution channel, the global plant-based milk market is mainly segmented into business to business and business to customers. The business to customers segment is estimated to account for the largest share of the overall plant-based milk market in 2022. The leading position of this segment is mainly attributed to factors such as consumers' preference for brick-and-mortar grocers, the growing online retail sector, urbanization, and the rising number of supermarkets and hypermarkets. This segment is also expected to grow at the highest CAGR during the forecast period.

 

Geographically, Asia-Pacific is estimated to account for the largest share of the overall plant-based milk market in 2022. The large share of this region is primarily attributed to increased awareness about a protein-rich diet, increased health consciousness, higher adoption of technological advancements in the F&B industry, and a larger vegan & vegetarian population base. This region is also expected to grow at the highest CAGR during the forecast period.

 

The key players operating in the global plant-based milk market are Danone SA (France), Plamil Foods Ltd. (U.K.), Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Sanitarium Health Wellbeing Company (Australia), Axiom Foods (U.S.), Earth's Own Food Company Inc. (Canada), Nestlé S.A. (Switzerland), SunOpta (Canada), American Soy Products (U.S.), Alpina Foods (U.S.), and Pacific Foods of Oregon, Inc. (U.S.).

TOP 10 COMPANIES IN PLANT BASED PROTEIN MARKET