According to the latest Global Industry Analysts report, the world video conferencing market is set to reach $14 billion by 2017.
The report, which is called “Video Conferencing: A Global Strategic Business Report”, looks into several market trends, mergers and acquisitions and other industry drivers and finds that the growth of the video conferencing industry is going to soar over the next five years since 2010 when the industry made a comeback after the decline in sales registered in 2008 and 2009 during the global economic recession.
This exponential growth is primarily being fueled by the increase of mobile workforce, the growing http://www.phpaide.com/remove.php number of telepresence solutions and the embracing of video conferencing by the small and medium businesses all over the world.
Also important for the increasing adoption of video conferencing is the increase of low-end free and cheaper products which allow small and medium companies to try the technology and to incorporate it in their business operations, increasing awareness of the impact video conferencing solutions can have on their businesses.
Still, the report shows that it is the high-end video conferencing solutions that are really making the difference. The revolution of both video streaming and broadband technology in the last few years has made new high quality solutions available in the market at reasonable prices for companies to adopt when they make their transition from low-end to high-end solutions.
The report also finds that the U.S. is the largest regional video conferencing market in the world. Still, the Asia-Pacific region is quickly picking up on the U.S. at a CAGR of 8.9% which makes it the fastest growing regional market.
The Asia-Pacific is expected to continue to grow exponentially over the next five years with the development in IP infrastructure, particularly in countries such as India and China.