China's Video Conference Market Has Entered A New Round Of Growth Cycle
Sep 06, 2021
Recently, according to the latest IDC China video conference and collaboration market tracking report 2020 released by IDC, the size of China's video conference market reached US $950 million (about RMB 6.52 billion) in 2020, with a year-on-year increase of 18.9%.
Among them, the hardware video conference market increased by 15.3% year-on-year to US $690 million (about 4.74 billion yuan); The cloud conference market increased by 29.4% year-on-year to US $260 million (about 1.8 billion yuan).
At the video conference, IDC predicted that the scale of China's video conference market will exceed 10 billion yuan in 2024, and the cloud conference market accounts for nearly 40%. Due to the normalization of epidemic prevention and control and the rise of non-contact business, China's video conference market will enter a new wave of growth cycle.
Based on traditional advantages, cloud video manufacturers actively layout cloud video services
Based on the traditional advantages, cloud video manufacturers actively layout cloud video services. The competition pattern in the domestic cloud video conference market is relatively scattered. The main competitors can be divided into three categories: the first category is the old video / communication manufacturers that cut into the cloud video field from different angles based on the advantages of the original products, including Huawei, ZTE, videolink power, Suzhou Kodak, Yilian network Zhenshitong and Qixin group (haoshitong); The second category is the new market forces that start and focus on cloud video services, represented by Xiaoyu Yilian; The third category is Internet companies that provide cloud video conferencing services, including Tencent, Alibaba, etc. At present, Huawei, Polycom and Cisco are still the top three manufacturers in the domestic video conference market, but other domestic manufacturers are also constantly improving their market share.
The application field of video conference continues to expand, helping multi industry digital transformation
Horizontally, the application field of video conference will continue to expand and combine with more industries and businesses. In the "new crown" epidemic, the problem of uneven allocation of public health resources in China has become prominent. In order to prevent and control the epidemic in time, many hospitals in Hubei Province have used video conferencing to contact key hospitals in Beijing and other places for remote consultation. With the progress of technology, telemedicine will no longer be limited to consultation, nor to some cases. According to the statistics of the American Telemedicine Association, more than 15 million Americans received some form of telemedicine service in 2019. China's telemedicine industry has broad market prospects. In 2018, the scale of China's telemedicine market was 13 billion yuan. It is expected that the average annual compound growth rate in the next five years will be about 27.63%.
In addition, the combination of video conference and education industry is becoming closer and closer. The birth of educational information products such as "video classroom", "smart dormitory", "double teacher classroom" and "safe campus" has accelerated the process of China's educational information 2.0 era. In terms of justice, the application field of video conference is also expanding. Beijing, Shenzhen, Inner Mongolia and other local courts have implemented remote court trials, and remote court trials have been widely applied during the new crown epidemic prevention and control.
With the advent of 5g scale commercial, AI industrialization and diversified computing revolution, video business is becoming the basic ability of enterprises and professionals for the whole scene smart office and industry digital transformation from traditional communication and cooperation tools. According to relevant data, after the epidemic, the proportion of users using online video conference system by the Chinese government has exceeded 50%, and the consumer demand of enterprises and individuals has increased significantly. Among them, the market of new conference video products for enterprises and individual users and integrated video conference applications has increased significantly.
