The video conferencing industry looks set to double in value within the next five years, research has predicted.
The report, undertaken by technology analysts ABI research, said that the industry rose by 25 per cent in 2010, taking its current value to $512.5 million (£317 million).
ABI’s figures suggest that if growth on this scale continues, the value could rise to $1.2 billion (£744 million) by 2016. Experts have attributed developments in technology as the reason for this, along with the public’s wider acceptance of video conferencing as a viable tool to communicate with clients, colleagues and customers.
Subha Rama, senior analyst at ABI Research, told Ciol.com that: “Managed video service providers (MSVPs) are responding to market needs by launching B2B telepresence exchange services.”
“MSVPs are building core capabilities in telepresence managed services. However, expertise is still evolving, especially when it comes to integrating mobile and desktop conferencing users with telepresence rooms”
The news came after announcements of more “immersive” virtual environments could further develop the scope of video conferencing, with larger bandwidth allowing users to better their telepresence services.
Speaking of the future of the medium, ABI Research practice director, Dan Shey, told AbireSearch.com how he saw “telepresence and video conferencing being untethered from conference rooms, as the technology is integrated with a number of mobile devices.”