USB is Gaining Ground in the Video Conferencing Market; Logitech Rides the Wave
RENO, Nev., June 22, 2020 (GLOBE NEWSWIRE) -- The latest research from Synergy Research shows that USB technology is rapidly gaining ground in the video conferencing market. In Q1 USB video conferencing systems accounted for 36% of the video conferencing market revenues, up from 21% a year ago. Meanwhile the USB share of video rooms jumped to 41%, up from 35% a year ago. USB technology is cheaper than the more traditional video codec systems and the ability to plug into VaaS services is an added boon. Cisco and Poly continue to lead the market for traditional video conferencing systems, while Logitech is a clear market leader in USB, with a 65% market share in Q1. Leadership of the high-growth USB market has enabled Logitech to now claim second place in the overall video conferencing market, second only to Cisco.
The overall video conferencing systems market declined by 13% in Q1 relative to the first quarter of 2019. This, however, was entirely due to a sharp decline in the sale of traditional video conferencing systems. Sales of USB video conferencing systems rose by 50%. Over the last twelve months, total sysem sales were running at around $2 billion.
“The biggest benefactors of the USB boom are vendors providing USB conferencing cameras, with Logitech leading the charge,” said Jeremy Duke, Synergy Research Group’s founder and Chief Analyst. “These USB cameras work easily and cost-effectively with VaaS services from companies like Zoom, Microsoft Teams, Google and others, and form a symbiotic relationship that is helping to propel the market. COVID-19 has now created even stronger momentum in a market that was already finding its stride."
About Synergy Research Group
Synergy provides quarterly market sizing and segmentation data on enterprise collaboration and related markets, including company revenues by segment and by region. Synergy Research Group (www.srgresearch.com) helps marketing and strategic decision makers around the world via its unique insights and in-depth analytics.
To speak to an analyst or to find out more about how to access Synergy’s market data, please contact Heather Gallo @ firstname.lastname@example.org or at 775-852-3330 extension 101.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45f12015-2a98-4219-9c94-8307bf02dbfb