Tag Archives: Video Conferencing Market

Video Conferencing Market Growth, Trend, Price and Forecast to 2023

Video conferencing refers to conducting conferences using telecommunication technologies to enable real-time two-way transmission of audio and video. With increasing globalization, most organizations are shifting toward conference meetings in order to enable faster decisions and reduce traveling hassles. Additionally, in order to extend their reach globally, organizations around the world are increasingly focused on curtailing costs related to their means of communication. This has created immense opportunities for the video conferencing market, leading to the development of advanced conferencing solutions. Due to the availability of cloud-based solutions, which help organizations reduce their initial investment, the penetration of video conferencing solutions is estimated to increase substantially in the coming years.

Video Conferencing Market : Scenario along with the market size and growth forecast for the period 2015 – 2023

Video conferencing enables effective face-to-face real-time communication over long distances. With the rising globalization of businesses, organizations need to operate from numerous offices located in different parts of the world. Multinational companies need to establish efficient and effective communication among regional offices and the headquarters of the organization. Video conferencing offers a viable solution to offices situated far away from one another to communicate and share business information on a real-time basis. In addition, video conferencing enables organizations to reduce the time and costs associated with foreign travel and accommodation. Video conferencing vendors also offer flexible models of deployment: on-premise, managed, and cloud-based. Organizations operating in several geographical locations can synchronize their business processes without the need for personnel to travel across the world to collect and share critical business information. In case of emergencies, video conferencing offers an effective and immediate means for mass communication. Government and regulatory authorities can leverage video conferencing solutions to deal with natural calamities, communal disrupts, and other emergencies. On account of such factors, the overall video conferencing market is expected to witness increasing adoption around the world. In 2014, the global video conferencing market was valued at US$ 3.69 Bn and is estimated to reach US$ 7.85 Bn by 2023, expanding at a CAGR of 8.5% during the forecast period from 2015 to 2023.

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