Cisco continues to lead major segments within the videoconferencing and collaboration markets, with Zoom reporting the highest growth rate.
Accompanied by Poly - the rebranded Polycom - Cisco leads by a “wide margin” in the videoconferencing and dedicated video desktop segments, according to new findings from Synergy Research. The tech giant is also joined by LogMeIn as a leader in conferencing software-as-a-service (SaaS).
Within the vendor space, Zoom reported “by far the highest growth rate”, followed "at a distance" by Logitech and BlueJeans.
“Traditional video vendors are also targeting the newer segments, an example being Poly which has quickly established itself as the number three ranked vendor in USB video conferencing,” said Jeremy Duke, founder and chief analyst of Synergy Research.
The first quarter market for video conferencing and collaboration increased by 10 per cent year-on-year to reach “well over” $1.5 billion.
According to Duke, the market is being increasingly driven by two “relatively small but high-growth segments” - VaaS (video-as-a-service) and USB video conferencing.
These two segments each grew by over 40 per cent, with other high-growth segments including in-room content sharing and collaborative smart boards.
Furthermore, Duke said traditional single codec room systems remain a "foundation of the market", accounting for a quarter of all spending and continuing to grow by eight per cent.
“The video market continues to evolve from traditional single codec systems, to newer more nimble USB video rooms and VaaS cloud services, which are helping vendors to target pent-up demand at the smaller end of the video market,” Duke added. “These USB and VaaS solutions are also now gaining traction in the mid-market and with large enterprises, helping to expand the overall market opportunity.
“The ability of Zoom to double in size year on year is clear evidence of buoyant demand for video, while we will still see growth in many of the more traditional segments over the next five years.”
Looking ahead, over the next five years Synergy forecasts that annual growth will approach 10 per cent with increased spending in all major geographic regions.
“The two stand-out segments for growth will remain VaaS and USB video conferencing, which in aggregate will account for well over a third of the market by 2023,” Duke said.