Internet Video Conferencing Applications to Grow in the Future
Posted Nov 03 2012 9:40am
Telepresence andInternet Video Conferencingapplications like the RHUB 6-in-1 Internet Video Conferencing appliance have become popular business tools in the past few years. Their growth is fueled in part by the surge in popularity of web communication across MNCs around the globe, especially with mobile-based web chat applications for smartphones and other current generation handheld devices.
According to a recent market assessment by the IDC, telepresence andweb conferencingmarket will continue to grow, and it is set to be one of the fastest growing networking markets for a long time.
According to Rich Costello, an IDC senior analyst, growth of this industry is the result of well-defined cases of web use in companies across several markets and industries, including retail, manufacturing, law enforcement, legal, financial services, higher education, and healthcare.
Rich Costello’s views are shared by other industry analysts as well. They are confident about the positive outlook of the market as more businesses and enterprise users explore new methods of collaborating and connecting with internal staff as well as external stakeholders.
According to a recent market research analysis report, the sale of Internet Video Conferencing and telepresence equipment has risen exponentially in the last two years. This acceleration of growth is primarily a result of introduction of enterprise IP PBX systems.
Of course, this is not the only factor that is fuelling the growth of the Internet Video Conferencing market. Other factors include the latest communications such asWeb Meetingand demographic trends favoring the web and the widespread availability and usage of web-enabled equipment. The most important factor, however, is the demand across several industries for such technology today.
Other highlights of the Infonetics market research included the following:
1. The world Internet Video Conferencing and telepresence market increased by 15 percent between 2011’s third and fourth quarter to a total value of $882 million, as a result setting a record of high quarterly revenues.
2. Internet Video Conferencing and telepresence equipment sales went up by 34 percent to around $2.99 billion in 2011.
3. Between 2012 and 2016, the research estimated that around $22 billion would be spent cumulatively by companies on telepresence along with Internet Video Conferencing software and hardware.
4. PBX-based systems grew 80 percent and had the strongest performance because they offer a cost-effective and multi-modal communication for businesses without having to remodel their entire communications infrastructure.
5. Dedicated web systems made up more than 50 percent of enterprise Internet Video Conferencing equipment sales in 2011, and they are expected to continue being one of the biggest generators of revenue among enterprise web communication services.
6. The current market leader Cisco is showing no slowdown in its growth. The company’s Internet Video Conferencing and telepresence revenue jumped by 25 percent in the fourth quarter of 2011 and its market share has also increased by 3 points.
7. The sale of Internet Video Conferencing endpoints and infrastructure is going strong across all major regions in the world. The biggest number of sales, however, is seen in North America where sales doubled in 2011 alone.