GIA’s latest report says the global market for video conferencing will recover poise and gain steady momentum in the medium-to-long term period to reach US$10.8 billion by the year 2015.
Primary factors driving this growth include resurgence in business activity, renewed focus on cost savings exerted by post recession cost wary companies, continuing globalization of businesses, rising mobile workforce and greenfield deployments among small-and medium-sized businesses (SMBs), and increase in deployments at executive systems and room systems. Increasing awareness on benefits of usage and encouraging demand from Asia-Pacific also augur well for the market.
The US continues to remain the largest regional market. Asia-Pacific remains the fastest growing regional market, surging at a CAGR of more than 6.0% over the analysis period 2007-2015. Burgeoning economies, higher spending power, growth in wireless industry and fast developing IP infrastructure, are creating steady demand for video conferencing technology in the Asia-Pacific market. Regional powerhouses such as China and India are the primary growth drivers for video conferencing technology in the region.
Video Conferencing Services Market represents the most prominent segment, growing at a CAGR of more than 4.3% over the analysis period. Improved quality, and ease-of-use of the videoconference services, have improved their degree of operation, thereby setting the pace for both growth and profitability in this segment.
