The Global Market for Video Conferencing Services is Projected to Reach US$2.9 Billion by 2020

Popularity of Cloud Video Conferencing Spurs Growth in the Video Conferencing Services Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Video Conferencing Services. The global market for Video Conferencing Services is projected to reach US$2.9 billion by 2020, driven by the rising popularity of cloud-based video conferencing services, and increasing use of video conferencing in government, healthcare, and education sectors. 

Video conferencing is one of the most dynamic sectors of the communication industry. The market, over the years, has witnessed significant technological advancements and international expansion. Given the technology’s ability to facilitate face-to-face meetings in real time, video conferencing services are now being widely used in enterprises, government offices, administrative agencies, media, educational institutions, hospitals, financial service companies, and law enforcement agencies, among others. In the increasingly globalized and decentralized corporate world, video conferencing is the technology of choice for communication between geographically dispersed offices and workforce. A major factor driving the adoption of video conferencing services is the need among enterprises to reduce operational costs. Adoption of video conferencing services is additionally benefiting from the launch of high-capacity telecom services.

In the coming years, the growth in the market will be driven by enterprise mobility and the ensuing increase in the number of mobile workforce. Growth will also be fostered by the continuous expansion of the global Internet network, launch of 4G networks, and proliferation of IP-based video conferencing systems. IP based Video Conferencing Services represents a major product market in the video conferencing services market. While on premise video conferencing continues to account for a major share of revenues, future growth will be driven by increased adoption of cloud-based video conferencing services and managed video conferencing solutions. A key factor driving the adoption of cloud solutions is the need to curb infrastructure spending.  

As stated by the new market research report on Video Conferencing Services, the United States represents the largest market worldwide, supported by high levels of adoption in the government and business sectors. Asia-Pacific is poised to emerge as the fastest growing market with a CAGR of 13.5% over the analysis period. Key factors driving growth in the region include increase in business activity and trade, rise in new business start-ups and small-and-medium enterprises, and favorable economic policies that encourage entrepreneurial activity.   

Major players in the global marketplace include 8x8 Inc., Applied Global Technologies LLC, AT&T Inc., AVI-SPL Inc., Blue Jeans Network, BT Conferencing, CoroWare Inc., Deutsche Telekom AG, Global Cloud Xchange Limited, IntelePeer Inc., IVCi LLC, Level 3 Communications, NTT Communications Corporation, Orange Business Services, Premiere Global Services Inc., TelSpan Inc., and VisionsConnected Netherlands BV, among others.

The research report titled “Video Conferencing Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for global Video Conferencing Services market in US$ Thousand for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World.

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