Next-gen AI-enabled meeting room cameras support positive market outlook for H2 2024

Despite recent economic challenges, next-generation, AI-enabled meeting room cameras are now entering the mainstream. With enterprises seeking equipment to meet their evolving business needs, a new report from Futuresource Consulting indicates that multicamera systems will be increasingly adopted to support the concept of meeting equity. This is driving a positive outlook for the meeting room cameras market in the second half of 2024.  

“The entire AV industry had to navigate a challenging landscape last year,” says Scarlett Woodford, Senior Market Analyst, Futuresource Consulting. “We saw enterprises curtail their spend in response to macroeconomic conditions and geopolitical tensions, causing overall market value to drop by 3% in 2023. Some AV projects were delayed, while others were abandoned completely. Although there was a glimmer of volume growth, this didn’t translate into revenue, as many buyers chose lower-priced products than they had previously.”  

Americas still out in front

Futuresource notes that the Americas is still the largest market for meeting room cameras, accounting for 35% of global volumes last year. EMEA took second position, closely followed by China, which achieved a 6% year-on-year increase due to the entrance of new players, placing downward pressure on pricing. 

Certification expands beyond Microsoft and Zoom

Certification by Microsoft and Zoom is still an essential credential for meeting room camera brands. Despite this, increasing numbers of manufacturers are beginning to seek accreditation from alternative vendors, such as Barco, Bosch, and Extron.  

“The significance of Barco ClickShare certification highlights the importance of bring-your-own-device deployments,” says Woodford. “Video enabling a meeting room with BYOD will prove popular at a time when enterprises are still operating within tight profit margins.” 

Long-term volume and value growth anticipated

Although a hangover of macro-economic concerns has permeated the first half of 2024, investments should accelerate in the latter half of the year.  

“Hybrid working practices are still evolving,” says Woodford. “Enterprises need to ensure that their office spaces can cope with larger numbers of staff working in the same location. At the same time, they’ll need to provide positive user experiences for remote meeting participants. As a result, there is a growing demand for bigger meeting room spaces, and companies are beginning to look to replace hardware purchased during COVID to equip these rooms. 

Moving forward, Futuresource expects the meeting room cameras market to continue on an upward trajectory, achieving a worldwide volume CAGR of 6% between 2023 to 2028, and a 10% value CAGR over the same timescale. 

Futuresource Consulting’s meeting room cameras global market outlook report provides analysis and forecasts for fixed conference cameras, PTZ conference cameras and 360-degree cameras. For more information or to make a purchase, please contact Ben at ben.thrussell@futuresource-hq.com. 

About the author

Scarlett Woodford

Scarlett is a Senior Market Analyst in the Collaboration team at Futuresource Consulting, responsible for researching and consulting on the ways we work together, in an increasingly hybrid landscape.

 With a background in telecommunications and connectivity services, Scarlett is particularly interested in the impact of new technologies on existing business models.

 Scarlett has a degree in Psychology from the University of Surrey and has previous experience working as a research analyst in the service provider market.