The worldwide telepresence market could reach a worth of $12.8 billion (£8.1 billion) by 2018, according to research released by ReportsnReports.
The research found that the telepresence market is set for growth over the coming years and a report from PR Newswire attributed this increase in use to the “consistency” telepresence provides those cultivating business relationships.
Telepresence meetings can also be booked in in advance, whilst its physical counterpart – literally travelling to a meeting and back – can prove “sporadic”. What’s more, conducting a virtual meeting via telepresence rather than via conference call, for example, can make all involved feel more “connected”.
The lead author behind the telepresence research, Susan Eustis, explained further the technological side of telepresence and why it may be proving so popular throughout the world. She stated: “Lowest total cost of ownership and accelerated return on investment are achieved through breakthrough bandwidth management.
“Telepresence products leverage industry-leading support of the standards-based H.264 and standards-based high profile capability. Standards adherence and compression technology can save up to 50 per cent of ongoing bandwidth consumption and cost.”
Considering that the global telepresence market was valued at $3.8 billion (£2.4 billion) in 2011, an estimated jump of just under $10 billion does demonstrate just how popular the service is becoming. If the ReportsnReports research is anything to go by – which can also be accessed at reportsnreports.com – its popularity will only increase as time goes on.