GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Video Conferencing Systems market. Global market for Video Conferencing Systems is projected to reach US$4.9 billion by 2020, driven by globalization of businesses, and growing workforce mobility.
January 14, 2015, San Jose, CA – Advancements in communication, over the years, have transformed the way people connect and interact. Video conferencing especially has revolutionized the communications space by allowing people from different locations and in different time zones to communicate in real time, and at short notice. The focus on reducing the cost of business travel has been a major driving factor for video conferencing systems. With its ability to offer visual remote communication, video conferencing is fast replacing face-to-face meetings, e-mail and telephone conversation. Modern enterprises rely heavily on video conferencing systems for establishing communication between corporate headquarters and regional offices spread across the globe.
Globalization of businesses and growing trend of workforce mobility are especially helping drive gains in the market. Video conferencing systems are increasingly being adopted by companies both large and small as a tool to achieve cost reduction goals. In the medium to long-term, companies under the pressure of budget cuts will continue to adopt video conferencing systems as an alternative to business travel. Video conferencing market has evolved to a point where the technology enables high-quality audio-visual communication over long distances at a viable price point for large businesses as well as small & mid-sized enterprises. Furthermore, adoption of this technology has also aided in the emergence of newer applications such as online education, e-health, and e-courts. Expanding applications are therefore expected to spur future growth in the market. The shift towards IP based video conferencing systems from traditional ISDN based systems, is additionally expected to drive growth. The market for IP video conferencing systems continues to grow rapidly driven by performance and cost advantages in addition to higher reliability, and lower costs through lower buy-in price and usage fees. ISDN video conferencing, on the other hand, is rapidly losing share to IP networks owing to its inability to seamlessly integrate with other applications.
As stated by the new market research report on Video Conferencing Systems, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected compounded annual rate of 10% over the analysis period. Growth in the region is led by increased establishment of offshore production, development, and processing facilities in low-cost Asian destinations such as China, India, Korea, and Vietnam.
Major players covered in the report include Avaya Inc., AVer Information Inc., CeeLab, Cisco Systems Inc., ClearOne, Huawei Technologies Co. Ltd, LifeSize Communications, Oki Electric Industry Co. Ltd., Polycom Inc., Sony Electronics Inc., Unify, Vidyo™ Inc., VTEL Products Corporation, Vu TelePresence®, and ZTE Corporation, among others.
The research report titled “Video Conferencing Systems: 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 of major companies worldwide. The report provides market estimates and projections for global Video Conferencing Systems market in US dollars for all major geographic markets such as the US, Canada, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America, and Rest of World. The market is also analyzed by technology segments such as IP Systems and ISDN Systems.
For more details about this comprehensive market research report, please click here.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
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