Video Conferencing Market to Reach $11.9 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Video conferencing hitherto associated with stuttering, grainy, bandwidth-eating images over slow data networks, has undergone dramatic changes. Greater affordability, accessibility and availability, has allowed the technology to break its niche status and enter the mainstream market. Driven by favorable trends, the market is projected to reach a value of US$11.9 billion by 2010.
San Jose, California (PRWEB) July 18, 2007 -- Over the years, video conferencing has evolved into a cutting-edge technology facilitating real-time, in-person, and face-to-face conversation. In the present scenario, the technology has successfully entered the lexicon of modern communication mix. With technological advancements, video conferencing has reached 3G mobile applications arena including streaming, instant messaging, scheduling, and others.
Video conferencing is offered on two underlying networks - Integrated Services Digital Network (ISDN) and Internet Protocol (IP). Improved flexibility, seamless integration with other applications, enhanced reliability, and lower cost of networks are propelling the industry to adopt video conferencing based on IP networks. Key factors influencing growth include lower costs, high picture quality, clarity in audio, uninterrupted connections, and reduced transmission delays. Use of 3G networks for mobile video conferencing is also a key driver of market growth.
United States is the largest market worldwide, worth an estimated US$4 billion in 2007. Europe is the second largest regional market followed by Asia at third position. Europe and the US together account for close to 75 percent of the global video conferencing market. The global and regional markets are expected to grow at CAGRs ranging between 6% and 14%. Video conferencing services represent the largest market segment with revenues estimated at US$6.7 billion in 2007. IP video conferencing systems is expected to be worth US$1.2 billion by 2010 while IP Services, one of the fastest growing market segments, is projected to reach US$8.3 billion by 2010.
The global marketplace is characterized by the presence of major telecom companies as well as systems and service providers. The three-tier market structure includes participants such as AT&T, Avaya, Emblaze-VCON, Genesys Conferencing Inc, Global Crossing Limited, Alcatel-Lucent, Polycom, Inc, Sony Electronics, Inc, Sprint Nextel Corporation, TANDBERG ASA, Verizon Business, VTEL Corp, Wire One Communications, Inc and others. Several regional players operate in the US and European services market.
"Video Conferencing: A Global Strategic Business Report" provides a comprehensive review of market trends, challenges, product profile, players, competition, technological developments, recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets such as United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. Analytics are provided in terms of product/technology segments including video conferencing systems (IP & ISDN), and video conferencing services (IP, ISDN & Others).
For more details about this research report, please visit www.strategyr.com/MCP-1062.asp.
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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