As hybrid working becomes commonplace and companies seek video-ready meeting room solutions, the collaboration bars market is experiencing rapid expansion. That’s according to a new report from Futuresource Consulting, which reveals 66% volume growth last year, with a similar performance forecast for 2021.
“For many, there’s no doubt that video conferencing has become a common feature of daily life,” says Chris Pennell, Principal Analyst at Futuresource Consulting. “Now workplaces are opening up again and companies are reengineering meeting spaces to heighten collaboration between remote and office-based workers. Collaboration bars are an integral part of this conversation, providing a cost-effective solution and reducing operational support overheads.”
Ease of Use is Driving Collaboration Bar Growth
Comprising both video and audio bars, the collaboration bar market has undergone a transformation during the global pandemic, becoming one of the top three growth areas in terms of volume across the entire video conferencing sector.
The plug and play nature of collaboration bars has been a large factor in their popularity. With no external PC or black box needed to code and decode audio and data signals, it’s a low cost and low hassle solution for equipping meeting spaces and classrooms alike. Many units are now shipping with Team Rooms and Zoom Rooms built in as a native software experience, along with functionality like auto zoom, making them an even more desirable collaboration option.
New Market Entrants Applying Pressure
“Logitech continues to lead the way in volume terms,” says Pennell, “though the vendor has come under increasing pressure from the likes of Poly and Crestron. This unprecedented increase in demand has also attracted a raft of new entrants into the market, especially on a local level, and this has been a particular emphasis of the Chinese market.”
The Future of Collaboration Bars
Moving forward, Futuresource expects the collaboration bars market to grow by a CAGR of more than 30% between 2020 and 2025, with video bars producing the majority of market growth. An upsurge in demand for additional features to improve overall audio and image quality will also allow vendors to increase the average selling price across the forecast period. However, in a quickly evolving technology landscape, there are many other alternatives that could capture the attention of corporations.