According to the research report titled ‘Global Conference Room Solutions Market Size study, by Type (Software, Services) by End-Users (BFSI, Transportation and Logistics, Manufacturing, Retail and Consumer Goods, IT and Telecom, Media and Entertainment, Government) and Regional Forecasts 2021-2027’, available with Market Study Report, global conference room solutions market is slated to register significant growth over 2021-2027.
 

Rapid growth in the number of corporate houses, and escalating demand for high-performance conferencing solutions are catalyzing the growth of global conference room solutions market.
 

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Additionally, constant demand for cloud communication solutions, widespread digitization of workspaces, and favorable governmental initiatives for developing digital infrastructure are augmenting the industry expansion.
 

It is to be noted that conference room solutions are workplaces designed primarily for audio and video meetings. They are confidential and productive spaces for meetings within organizations.
 

Despite the positive industry outlook, high cost of installation and maintenance, extra security measures for tablets & mobiles, and lack of awareness about advanced technology are likely to restrain the growth of the business vertical over the projected period.
 

Speaking of type, worldwide conference room solutions industry is bifurcated into services, and software. Based on end-user terrain, the market sphere is classified into government, manufacturing, IT & telecom, transportation & logistics, BFSI, media & entertainment, and retail & consumer goods.
 

Regionally speaking, North America, Europe, Asia Pacific, and Latin America are major benefactors to industry remuneration. Among these, North America accounted for 32.4% sales share in 2021, attributed to strong presence of service providers in the region.
 

The competitive landscape of worldwide conference room solutions market sphere is defined by companies such as BlueJeans Network, Inc. (Verizon), Zoom Video Communications, Inc. , Polycom, Inc., Microsoft Corporation, Intrado Corporation (West Corporation), Google LLC, LogMeIn, Inc., Cisco Systems, Inc., Adobe, Inc., and Huawei Technologies Co., Ltd. among others.
 

These companies are employing numerous strategies such as acquisitions, partnerships, and mergers to broaden their reach in the marketplace. For instance, in 2019, Cisco Systems, Inc., acquired Voicea, an enterprise voice assistant company providing real time solutions such as meeting transcription, meeting highlights, and voice search.