The demand for video conferencing and telepresence has increased significantly, with figures hitting $2.7billion last year according to researched by IDC.com.
A strong quarter at the end of last year contributed significantly to the large figure, during which the revenue for video conferencing shot up by a fifth.
Things have never been better for the business as it continues to benefit from a 24.6 per cent year-on-year growth in Q4 revenue, with numbers expect to increase further in coming years.
Talking to irpro.co.uk, Rich Costello, senior analyst at IDC’s Enterprise Communications Infrastructure division believes this was down to some good examples of presentations across a wide range of businesses, going onto state that he could see things picking up even more with the impact generated by innovations in technology.
Costello said: Growth has been spurred on by more well-defined video use cases among organisations across a range of vertical market segments, including healthcare, higher education, financial services, legal, law enforcement, manufacturing, and retail.”
“We also expect growth over the next several years to be bolstered by the impact of video integrated with vendors’ unified communications and collaboration portfolios, and increasing video usage among small workgroups, desktop users, and mobile device users.”
Chris Argent, financial services consultant at ICT consultancy Hudson & Yorke shared the same view and said that we was glad that businesses had wised up to the potential of the platform.
In a similar interview with ipro.co.uk, Argent said: “It is promising to see video conferencing revenues growing, as companies begin to recognise the business benefits that video conferencing can bring.”
Argent added: “Advances in technology and the falling cost of network bandwidth means the opportunity to embrace video conferencing and develop innovative uses exists now more than ever before.”