Video Conferencing Market: Global Opportunity, Trends, Forecast 2015-2019
Market landscape of video conferencing services
Video conferencing refers to a service that enables real-time, two-way communication, across geographies. Video conferencing services are a key segment of the conferencing services market.
Conferencing services are categorized into three broad segments, including audio, web, and video.The global conferencing services market was valued at over $7 billion in 2014. Audio conferencing services have dominated the market with more than half of the global market share in 2014. However, a shift in consumer preference for video and web conferencing services is likely to gain traction during the forecast period.
Market scope of the video conferencing market
To calculate the market size, the report takes into account the revenue generated by video conferencing service providers from the enterprise sector. The report considers vendors who provide the following features:
- Sharing presentations
- Text chatting
- Whiteboard sharing
- Security features
- Desktop sharing/screen sharing
- Application sharing
- Live or streaming video
- Meeting recording
The report covers vendors who provide managed and SaaS-based video conferencing, as well as on-premise video conferencing services. It also presents the vendor landscape and a corresponding detailed analysis of the six major vendors in the market.
Overview of the vendor landscape in the video conferencing market
The video conferencing services market has witnessed few acquisitions and the entry of new vendors over the past few years. Large MNCs entering this market are making significant contributions in R&D.
Thanks to this welcome trend, many technologically advanced products are making their way into this market. Hence, the market is also witnessing strategic alliances and M&As of smaller local vendors who compete with the leading players. The study by Technavio predicts an increase in diversification of businesses and opening up of new segments during the forecast period.
Other prominent vendors in the market include AnyMeeting, Arkadin, Blue Jeans Network, BT Conferencing, EyeNetwork, Fuze, LifeSize Communications, StarLeaf, Videxio, AT&T, Bridgit, ClickMeeting, Communique Conferencing, Glance Networks, Glowpoint, HP, Infinite Conferencing, InstantPresenter, InterCall, MegaMeeting, OmniJoin, OnStream Media, Orange Business Services , RadVision, ReadyTalk, Regus, Saba Software, Skype, SPS, TeamViewer, TrueConf, and Yorktel.
Market segmentation of the video conferencing market by services
- On-premise VCS
- Hosted VCS
- Managed VCS
The on-premise video conferencing market is dealing with concerns over reduced spending on video conferencing systems like telepresence, personal video conferencing, room-based conferencing and multipoint unit controls. Cisco, Polycom and LifeSize, a division of Logitech are the well-known players in this segment.
In the hosted segment, WebRTC or real-time communication, is the latest trending technology that is gaining rapid adoption. Supported by Google, Mozilla, and Opera, WebRTC offers web application developers the ability to develop rich and real-time multi-media applications on the Web. WebRTC is set to change the face of video conferencing by making virtual meetings possible through a web browsers.
Managed video conferencing services are also expected to maintain a robust CAGR with a growing prevalence in industry verticals such as financial services, healthcare, higher education, legal, manufacturing, and retail.
For the on-premise segment, Americas and EMEA were the most performing market while countries in APAC such as India and China also witnessed significant investments in recent times.
Market segmentation of the video conferencing market by end-users
- Government and defense
- Corporate enterprises
- Media and entertainment
- Manufacturing, energy
- Oil & Gas
Adoption of video conferencing in sectors such as media and entertainment, manufacturing, energy, and oil and gas, is in its nascent stage. The market is also witnessing a relatively lower rate of adoption in the retail sector.
However, video conferencing technologies are fast gaining popularity with the advent of innovative desktop solutions, making everyday meetings viable and without installation hurdles.
Other sections of the report include an analysis of the following
- Comparative study of desktop video conferencing vs. room based conferencing vs. web conferencing without video
- Market shares of audio, video and web conferencing services
- Market scenario and factors causing a decline in CAGR in a key service segment
- Technologies involved in the hosted video conferencing segment
- Market perception of limitations to video conferencing
- Key drivers, challenges, and trends and their impact on the video conferencing market
- Five forces analysis of the video conferencing market
- SWOT analysis of the leading companies in the video conferencing market