Ovum and Cisco have recently released reports stating that business video conferencing will be growing exponentially over the next five years.
The Ovum report focuses on the Asia-Pacific region and it forecasts that video conferencing will become a US$804 million business in the region with an estimate compound annual growth rate of 7.84% between 2011 and 2016. According to the report, the two major video conferencing markets will be India and China with a 16% growth each.
“Enterprises are seizing the huge opportunity that video conferencing offers them to cut costs and improve productivity by reducing business travel,” stated Richard Thurston, Ovum analyst and author of the report.
“They are starting to use video conferencing much more frequently because of ongoing economic concerns, continued efforts to reduce their carbon footprint, enhancements in video technology and price reductions that are improving the business case.”
“The next five years will see solid increases in expenditure from businesses in Asia-Pacific, partly because of their already high expenditure on long-distance air travel,” he added.
Another report, Cisco’s Visual Networking Index, which analyses and forecasts global IP traffic, states that global IP traffic will grow four times over the course of the next four years with internet reaching three billion users and with 15 billion devices connected to the web. According to this report, business web conferencing will grow 6 times from 2010 to 2015, which means that video conferencing is growing faster than IP traffic.
This means that, without a doubt, video conferencing will be growing exponentially over the course of the next five years. With this growth many companies will be looking for the right video conferencing provider and providers will be competing for a growing market. It also means that managers and CEOs must be well informed on the devices they’re looking to buy.
RHUB’s TurboMeeting appliance is one of the best in the market. It is not only fast and reliable but also offers top security measures to keep all the data safe. TurboMeeting was designed to offer companies everything they need for real-time collaborations. It is easy to use and to install, not asking attendees to download any software. Once installed, it updates the firmware automatically and doesn’t need any IT maintenance and it can be used in Windows, Mac, and Linux.
As the flexibility is becoming the key for the success of business in a global market, managers will hardly miss this opportunity to expand globally while reduce business expenses by adopting remote collaboration tools. RHUB’s full featured appliance, one of the best in the market with both web conferencing and remote support functionalities, is very promising to conquer a growing market.