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Conferencing Services Drive Growth: Study

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TMCnews Featured Article


July 31, 2009

Conferencing Services Drive Growth: Study

By Stefania Viscusi, Assignment Desk Editor


While the current economic conditions have put pressure on IT spending, the use of conferencing and collaboration solutions like videoconferencing is actually serving as a market driver as these technologies reduce costs and support virtual workplaces.

 
According to new analysis from Frost & Sullivan (News - Alert), the world videoconferencing market is growing at a healthy pace. The research firm’s latest report found the market earned revenues of over $265.4 million in 2008 – marking 11 percent growth over the previous year.
 
In addition, the report found the videoconferencing CSP (News - Alert)-based managed services market is expected to grow at a CAGR of 16.4 percent – up from $151.3 million in 2008 to $375.5 million by 2014.
 
Frost & Sullivan Principal Analyst Roopam Jain said that there are several market forces coming together today that have allowed the market to become “ripe for change.”
 
"Now is the inflection point for large-scale videoconferencing technology adoption," said Jain.

In addition to videoconferencing capabilities, advancements in IP and more interest in UC solutions have also increased adoption rates. Also, conferencing solutions are winning in the marketplace as businesses search for solutions to help reduce costs and improve productivity.
 
"Declining hardware and service costs, and availability of new solutions such as telepresence and high definition (HD) videoconferencing will all go a long way in improving the market's prospects," said Jain.
 
Another recent industry report from Synergy (News - Alert) Research Group shows conferencing revenues actually grew seven percent in the first quarter sequentially – even as every other UC application experienced a sales decline.
 
According to the firm's findings, conferencing application sales grew at a 5 percent rate in the fourth quarter of 2008 and the worldwide market for collaborative applications in the first quarter of 2009 amounted to $913.3 million in sales.
 
Eagle Teleconferencing’s conference call solutions are especially useful in the current climate, as they can be set up last-minute and are available around-the-clock. Also, with a worldwide network connection infrastructure and a capacity of more than 10 billion minutes, the company offers businesses conference call options for productivity and reliability.
 
 
 
For more, check out the Conference Call channel on TMCnet.

 

Stefania Viscusi is an assignment editor for TMCnet, covering VoIP, CRM, call center and wireless technologies. To read more of Stefania’s articles, please visit her columnist page.

Edited by Stefania Viscusi







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