South Korea Video Conferencing Market to Grow at a CAGR of 12.4% During 2024-2032, Aided by Continuous Advancements in Video Conferencing Technology.

In South Korea, the video conferencing software market is experiencing significant growth, fuelled by a confluence of factors.  One of the key drivers is the nation's exceptionally high internet penetration rate. This widespread access to reliable internet connectivity forms the foundation for the adoption of video conferencing solutions.

Furthermore, the rapid proliferation of mobile devices like smartphones and tablets has created a mobile-first environment where users expect seamless video conferencing capabilities on the go. This convergence of high internet penetration and ubiquitous mobile devices is propelling the South Korea video conferencing market growth.

Endpoints hold a significant market share, driven by the widespread adoption of user-friendly video conferencing platforms like Zoom, Microsoft Teams, and Google Meet. These platforms seamlessly integrate with endpoint devices, creating a smooth and intuitive user experience. Furthermore, the rise of remote work models, the emphasis on virtual collaboration across teams, and the increasing need for efficient communication solutions have significantly boosted the demand for endpoint devices in the market.

Further, the market is primarily being driven by high corporate adoption of video conferring solutions, with these organisations generating the majority of total revenue. This dominance can be attributed to the growing need for virtual meetings and collaborative tools within enterprises. However, the market extends beyond just corporations, with significant contributions from sectors like education, banking, finance, and healthcare (BFSI), among others. The increasing reliance on these technologies across various industries is a major factor propelling the overall market for video conferencing solutions.

In a move to expand its B2B (business-to-business) digital service offerings, KT partnered with Zoom Video Communications Inc. (NASDAQ: ZM) in November 2022. This collaboration brings the Zoom Meeting platform to Korean enterprises through KT. By integrating KT-provided phone numbers with Zoom Meeting, companies can leverage Zoom Phone for virtual meetings, regular calls, and group conferences without the need for additional hardware installations. This streamlined solution caters to the evolving needs of Korean businesses seeking efficient communication tools.

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Market Breakup by Component, Deployment, Enterprise Size, Application, and End-Use:

• On the basis of the component, the market is classified into hardware, software, and services.

• The market can be segmented based on deployment into on-premise and cloud.

• On the basis of the enterprise size, the market is bifurcated into large enterprises and small and medium enterprises.

• On the basis of the application, the market is bifurcated into personal and enterprise.

• The market can be segmented based on end-use into corporate, education, healthcare, government and defence, BFSI, and media and entertainment, among others.

Key Findings of the Report:

• The evolution of video conferencing platforms extends beyond core functionality, now encompassing comprehensive suites that integrate management software, calendars, reminders, and even email capabilities. This convergence, coupled with robust security features, is significantly driving the South Korea video conferencing market expansion.

• Driven by technological innovation and a shift towards virtual collaboration, the market is experiencing significant growth. As a result, video conferencing solutions are becoming increasingly essential for businesses to conduct their operations effectively.

• Zoom has emerged as the leading platform for organisations, capturing significant market share. This dominance can be attributed to factors such as the widespread availability of high-speed internet and the increasing adoption of hybrid work models, which necessitate reliable and user-friendly video conferencing solutions.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea video conferencing market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the, components, deployments, enterprise sizes, applications, and end uses of video conferencing market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea video conferencing market are Haeden Bridge Co, Ltd, Lumens Digital Optics Inc., 4NB Co., Ltd., Avaya, Inc., Cisco Systems, Inc, Huawei Technologies Co., Ltd., Microsoft Corporation, Zoom Video Communications, Inc, Google LLC, ECS Telecom, and Panasonic Holdings Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.