White Paper on China's Video Communication Industry

Based on research into the Chinese video communication industry, Frost & Sullivan has released a white paper on the sector. The white paper points out that with the gradual shrinking of the hardware-based traditional video conference market and the rapid development of emerging software and cloud video conferences, the cost of video conferencing has been decreasing year by year. In addition to government and large enterprise users, the growth of small and medium-sized enterprise users has become an important driving force for development. On the other hand, the development of smart cities has led to the rapid integration of video conferencing with other data-driven economic models. It is expected that the market will achieve an average annual compound growth rate of up to 26.2% between 2019 and 2023, reaching a scale of 535.3 billion yuan by 2023.