Despite being around for more than a decade, video conferencing technology is still in high demand, sending the market to new heights in terms of revenue and adoption around the globe every step of the way. Consumers, businesses and public sector agencies are increasingly using telepresence solutions for a range of purposes, many of which help to bring down the costs of travel and collaboration while more quickly connecting individuals to one another.
Interestingly, the applications of video conferencing are expanding rapidly, especially within the industries that have been the most aggressive in their adoption and use of the technology, helping to usher in a new era of workplace arrangements and corporate operations. This is also one of the many reasons why investments continue to rise in the video conferencing arena, as companies look to deploy newer, more advanced options as they proliferate.
Manufacturing, financial services, retail and health care are likely the sectors where video conferencing is beginning to have the greatest presence, especially as these types of firms are so reliant upon the ability to communicate with customers and patients at a moment's notice. In the coming years, one can only assume that more industries will begin to leverage the technology, and that the services themselves will become a bit more advanced with time.
New report International Data Corporation recently reported that the videoconferencing market is set to explode, and has already enjoyed healthy growth in the first few months of this year as evidenced by quarterly data and research. According to the analysts, companies spent roughly $507 million globally on video conferencing tools in the second quarter of this year, which was 7.4 percent higher than the $484 million spent in the first three months of 2015.
What's more, when comparing the investments to those made in the second quarter of 2014, this latest study period saw 21 percent year-over-year growth, which is nothing to shake a stick at. Perhaps not all that surprisingly, software and cloud computing options for these technologies are gaining in prominence, especially given the fact that companies want to have flexible, agile, easily adjusted solutions in place to change with the progression of market trends and transformations.
"Some much-needed good news for the enterprise videoconferencing market - revenue and video endpoint shipments were up in all major regions in the second quarter, except Latin America," IDC Enterprise Communications Infrastructure Senior Analyst Rich Costello explained. "A surprising 2Q15 highlight had multi-codec telepresence systems up in both revenue and unit shipments, as the availability of some new high-end systems positively impacted the market. This interrupted a downward trend for these high-end video solutions."
It is worth noting that increases were seen in various segments of the industry, including multi-codec telepresence, room-based video conferencing systems and personal products for individual use.
More to come Be it because of the diversification of devices that will be capable of supporting video conferencing solutions or the growing preference for connecting digitally, it has become clear that telepresence will remain a hot topic of discussion in the average boardroom for years to come. Organizations would do well to begin preparing their backend unified communications systems for more progressive strategies that will maximize the overall value of video conferencing deployments and defend against poor return on investment.
Telepresence can be powerful autonomously, but will only yield optimal ROI - from financial and operational standpoints - when properly integrated into the corporate communications framework. Using a provider of robust UC services, products and solutions for these endeavors can go a long way toward positioning small businesses for success down the road.