Global video conferencing services market – the key market drivers
The popularity of video conferencing services are growing exponentially. This growth is driven mainly by technical advances in video conferencing systems and the financial constraints placed on organizations to increase profitability. There are many other factors that contribute to this growth. This article with examine those factors and better explain its impact to the growth of this market.
Technical advances – video conferencing system are becoming smaller in size and the number of services that they provide are becoming greater. Installation and configuration of these devices have become significantly simpler as well. This means consumers can benefit more and their capital investments are more feasible.
Financial constraints placed on organizations – the economic slowdown has impacted organizations around the world. That inevitably creates constraints on companies to cut costs to increase competitiveness. Connecting individuals who are globally dispersed through video conferencing services, is a viable solution to keep costs low and collaboration high.
Globalization and the decentralization of the workforce – organizations have to expand to new markets to maintain competitiveness and gain competitive advantages such as economies of scale. Globalization has shaped those opportunities for modern businesses. As organizations go global, their employees are inevitably dispersed over geographical boundaries. This dispersion has increased the popularity of video conferencing services.
Increased use of video conferencing solutions in the government and financial sectors –the advances in internet security and encryption technologies has opened up sectors in the marketplace in which video conferencing was previously considered a security threat. Financial sectors have turned to these solutions to decrease operational costs and increase synergy in their organizations.
Rising popularity of managed video conferencing solutions – system administrators are now able to control every aspect of their video conferencing solution. This manageability allows organizations have better control of costs, and expandability becomes more predicable with less downtime or impacts.
