Globalization of Businesses and Workforce Mobility to Drive Global Market for Video Conferencing Systems, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the Video Conferencing Systems markets. Global market for Video Conferencing Systems is projected to reach US$4.5 billion by 2018, primarily driven by globalization of businesses, growing workforce mobility, and subsequent need to establish communications between globally dispersed workforce.

Video Conferencing Systems: A Global Strategic Business Report

Follow us on LinkedIn – Advancements in communications industry over the years have been transforming the way people connect and interact. Video conferencing especially has been revolutionizing the art of communications by allowing people from different locations and in different time zones to communicate in real time, and at short notice. Current economic uncertainty, particularly in developed markets, and subsequent need to drive down costs on business travel continues to drive market prospects for video conferencing systems. Capable of offering visual remote communication, video conferencing is leaving behind traditional means of communication including face-to-face meetings, e-mail and telephone conversation by providing life-like communication experience. Video conferencing is now used for communication needs by a range of end-users ranging from enterprises, government, educational institutions, financial service companies and legal agencies to general public.

In today’s work culture that is largely dominated by business meetings, companies across industry segments are increasingly adopting videoconferencing systems as an alternative to traditional communication channels. Modern businesses operating at a global level are beginning to rely heavily on video conferencing systems for establishing communications between corporate headquarters and regional offices spread across the globe. Globalization of businesses and growing trend of workforce mobility are especially helping drive global video conferencing market. Given its ability to create real-time, in-person conversation among geographically dispersed employees without actually requiring them to assemble at a particular place, video conferencing systems help organizations save considerable costs that would have otherwise been spent on business trips. In addition to cost savings, the technology’s ability to ensure business continuity is now helping strengthen business case further for video conferencing systems in enterprises. With enterprises now realizing that the best way to achieve profitable growth is by enhancing operational efficiency, taking immediate and quick strategic decisions, and avoiding business disruptions, video conferencing systems are increasingly being adopted by companies both large and small as a tool to achieve these goals.

While video conferencing systems market shows steady growth in developing markets, demand for video conferencing systems in Europe is once again being tested as information and communication spending dwindle in the enterprise segment due to the ongoing European debt crisis. Overleveraged governments and banks with bad loans are slowing down economic growth in Europe and the future outlook remains overshadowed by the deleveraging process underway in the region’s private, public and financial sector. Against such a backdrop, all types of information and communication projects including video conferencing deployments are being critically scrutinized for their ability to generate bottom line enhancing ROIs.

Despite the immediate financial challenges that are impeding investments in IT technologies in general, the intrinsic business fundamentals of the videoconferencing technology continues to remain intact. And as companies sharpen their strategies to do more with fewer resources and run mean and lean in economically taut conditions, cost efficient technologies such as video conferencing stand to benefit. In the medium to long-term, companies under the pressure of budget cuts will continue to adopt video conferencing systems as an easy measure of saving business travel expenses. A result of the ongoing financial crisis in Europe is the fact that businesses and enterprise will come out competitive especially in the area of strategic infrastructure spending. With companies focusing on achieving uninterrupted business operations, a key competitive requirement poised to benefit is efficient communications systems such as video conferencing that can serve as a key link between company headquarters and its regional offices.

On the technology front, though the videoconferencing market continues to be dominated by room-based systems, the market is witnessing a fundamental shift towards desktop and efficient communication mediums for anywhere-anytime collaboration. Desktop based video conferencing systems market is already the fastest growing segment with dollar sales expected to increase significantly in the coming years. Demanding very little time and relatively lower cost for installation and deployment at enterprises than the traditional room based systems, desktop systems are increasingly being preferred by companies.

As stated by the new market research report on Video Conferencing Systems, the US is the largest regional market worldwide. Asia-Pacific is the fastest growing market with revenues waxing at a CAGR of more than 13% over the analysis period. While IP Systems represents the most prominent product segment with revenues growing at a CAGR of about 13.4% over the analysis period, ISDN Systems is gradually on the wane.

Major players in the global marketplace include Avaya, Inc., AVer Information, Inc., CeeLab, Cisco Systems, Inc., ClearOne, Huawei Technologies Co., Ltd., LifeSize Communications, Oki Electric Industry Company, Limited, Polycom, Inc., Radvision, Inc., Siemens Enterprise Communications GmbH & Co. KG, Sony Electronics, Inc., Sprint, Vidyo™, Inc., VTEL Products Corporation Inc., 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, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for global Video Conferencing Systems market in US$ for all major geographic markets such as the US, Canada, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Video_Conferencing_Systems_Market_Report.asp

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 more than 1300 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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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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