A Frost & Sullivan report has revealed that the Australian video conferencing market is really thriving, experiencing growth of 28.7 per cent during 2011.
What’s more, by the year 2018, the report suggested the market could be worth some AUD$700 million. Frost & Sullivan’s head of research for Australia and New Zealand, Audrey William, elaborated on the findings in comments cited by prnewswire.co.uk.
“The Australian video conferencing market is expected to register a healthy growth of close to 18 per cent over the forecast period,” William confirmed. “Given the current economic climate, with generally cautious IT spending, this healthy growth rate suggests that businesses still see video conferencing as an attractive option for reducing travel costs.”
William went on to add that the dip in price points relating to video conferencing solutions helped aid growth in the marketplace, with the endpoints market rising only 36,3 per cent from 2010. The report suggested that years of ‘pent up demand’ grown over years of ‘cautious spending’ had also contributed, in addition to the ongoing need in Australia for audio-visual collaboration.
Technology developers Polycom and Cisco continue to be the market’s biggest players, boasting a combined share of 95 per cent. This could make for even greater competition within the market and potentially, greater quality offered to those hoping to hire video conferencing facilities.
The report, which also appeared on broadcastnewsroom.com, concluded by stating that the ‘growing awareness’ of video conferencing within the government and professional services market – as well as the financial services industry – accounts for 60 per cent of the latest video conferencing revenue recorded.