Cloud Solutions are Leveraging Potential of Advanced HD Videoconferencing Systems

As businesses become more global, offices and work teams become more distant, as practices such as work-from-home increasingly become ordinary in several workplaces, the need for convenient and efficient ways for conducting group meetings has arisen. Video conferencing is increasingly emerging as the most preferred method of communication in the business world. The Video Conferencing Market had a valuation US$3.69 bn in 2014. It is estimated to expand at 8.5% CAGR over the period between 2015 and 2023 and reach US$7.85 bn by 2023.

Videoconferencing is highly favored in business settings, as it allows distant employees to interact in a more comfortable and relaxed setting, whether they are in the office premises or working from their home. The ability of videoconferencing to enable live video feeds allows participants in the meeting to have interactions in real time. This directly translates into stronger personal connections, increased involvement, and more efficient conveyance of information. When used within enterprises, videoconferencing allows for a significant reduction in time spent in commuting within campuses and buildings. Recent advancements in videoconferencing technology are making the field more appealing and cost-effective than ever before.

Next-generation Cloud Videoconferencing
Speaking of leveraged capabilities, cost-effectiveness, and more appeal in the field of videoconferencing, cloud computing in videoconferencing has brought about a huge change in the overall dynamics of the global videoconferencing market.

Cloud videoconferencing solutions have enabled HD video streaming and made it possible for mobile devices to seamlessly become a part of professional videoconferences. Better yet, the end user is provided these services at attractive prices, without the need for making large investments in videoconferencing technology upfront.

Cloud videoconferencing services also offer the choice of choosing from a variety of services, such as virtual rooms, or only the ones that are necessary. This flexibility proffers the user the option of investing only in the technology that is needed.

Has Cloud Technology Led to Plummeting Revenues?
Cloud in videoconferencing has significantly benefitted the market in terms of expanding its reach to distant end users, thus significantly expanding the overall consumer base of the videoconferencing market. This has led to healthy growth of the market in terms of volume, but not so much in terms of revenue, over the past few years.

Cloud-based videoconferencing systems are currently the most in-demand segment of the global videoconferencing market. The low-price structure of cloud-based videoconferencing techniques has undoubtedly led to an increased customer base, but has also cut into the overall revenue of the global market to a certain extent. However, the brighter side of this scenario is that most big vendors in the videoconferencing market are now offering cloud-based videoconferencing alternatives to the customers, presenting the chance of making up the shortfall in revenue through volume sales.

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The rapidly expanding business world presents vast growth opportunities for the global videoconferencing market, be it deployment on a cloud, on-premise, or managed platform. Companies that are ready to scale up the level of digitization and modernization in their enterprise premises will continue to use videoconferencing techniques, as it is one of the most relied-upon ways of communication for the business world. It is needless to say, hence, that the market will rise to greater heights in the coming years and continue to be ruled by cloud tech.

3D Video Conferencing Techniques to Change the Face of Global Video Conferencing Market

Increasing cost of travel, declining bandwidth rates, and increasingly hectic nature of the modern world has put pressure on techies across the globe to rethink video conferencing as a means to bridge gaps between businesses. The global video conferencing market has been growing at a rapid pace. Statistics show that this market was valued at US$3.31 billion in 2013 and is expected to reach US$6.40 billion by 2020.

The global video conferencing market has been segmented on the basis of type of deployment, end-use industry, and geography. The deployment segments include on-premise, cloud-based, and managed. Depending on the end user, the global video conferencing market is divided into healthcare, corporate enterprises, government and defense, education, and others such as entertainment, retail media, and manufacturing. Geographically, the global video conferencing market is segmented into Europe, Asia Pacific, North America, and Rest of the World.

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3D Telepresence to Drive Video Conferencing Market in Healthcare Industry
The future of the global video conferencing market will truly be revolutionized by the 3D telepresence feature. Andor Salga of Seneca College in Toronto was recently awarded US$2,500 prize money by US Ignite for developing a prototype system that shows how 3D telepresence is actually going to change the face of telemedicine. Through the prototype, he explained how physicians and doctors will be able to examine certain wounds better. The new system is called Engage3D. It adopts the Kinect technology design used in Microsoft’s Xbox, which can be plugged to a TV set. This kind of 3D imaging technique will surely help in diagnosing patient’s injuries with accuracy.

Telepresence systems will have a combination of a built-in depth camera and/or sensors and built-in video camera. The built-in depth camera and/or sensors help in calculating the distance of the objects from each other to generate data using multidimensional points representing a 3D object.

The surge in demand is also supported by the healthcare industry, as it extensively uses video conferencing for tele-consultation and diagnosis. Amongst the deployment segments, the demand for cloud-based video conferencing is expected to grow at an incredible rate as most of the industry users are shifting from hardware to software solutions. The key market drivers for the global video conferencing market are the increasing number of applications in the defense industry. The usage of video conferencing in the media and entertainment industry for distance learning, web-seminars, and broadcasting events has also led to the growth of this market.

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Asia Pacific to Lead Global Video Conferencing Market
Out of all the regional markets, Asia Pacific video conferencing market is expected to grow at a significant pace from 2014 to 2020. Analysts predict that the markets in Latin America and the Middle East will also generate lucrative opportunities in the same period. The major players in the global video conferencing market are InterCall (West Corporation), Microsoft Corporation, Cisco Systems, Inc., Polycom, Inc., Huawei Technologies Co., Ltd., Vidyo, Inc., Avaya, Inc., Lifesize (Division of Logitech International S.A.), ZTE Corporation, and Adobe Systems, Inc.

Video Conferencing: Need for Real-time Information Exchange in Complex Business Environments to Support Market Growth

The Internet is undoubtedly the biggest gift humanity has bestowed upon itself in the last two decades. Thanks to technology that has empowered us like never before, everyone can now instantly access information, work, and socialize online, and much more.                                          

Of the many communication offshoots of the Internet, video conferencing is a major one and is regarded as one of the most useful communication media in today’s constantly evolving world. With the Internet gaining popularity and increasing Internet bandwidth in developing countries, video conferencing has outreached its initial business scope to extend its scope into people’s daily life.

Most people today know what video conferencing is, and many, especially in the business sector, have experienced video conferencing on one or more occasion. But how did video conferencing emerge and how has it developed over the years?

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An Insight into the History of Video Conferencing

The video conferencing of today has faced many obstacles before developing into its current form. The idea has had many starts, stops, and stalls on the course, before it became one of the most useful communication systems employed across industries worldwide. 

The earliest and simplest use of video conferencing dates back to the invention of the television in 1927, which allowed simple analog conferencing. The setup was very basic and comprised two closed circuitry television systems that were connected with a cable. 

The Teleconference of the US secretary of commerce that took place in 1927 is regarded as the stepping stone in the prolonged and arduous development of video conferencing communications. Herbert Hoover’s image, who was the secretary of commerce of the U.S. then, was sent by cable while his voice was transferred by phone lines. 

The Picture Phone presented by AT&T in the 1960’s is regarded as the first device offering real Peer to Peer video conferencing. Trials were on thereafter to commercialize the concept; Bell Labs even set up picturephone calling booths in Washington D.C., which after the initial brouhaha failed due to a combination of reasons.

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Video Conferencing of the 1990’s

The mid 1970’s and early 1980’s were a period of refining of video technology, as companies incorporated technological advancements such as network video protocol (NVP) and packet video protocol (PVP) were incorporated into video conferencing, but solely for company use. 

Although the next ten years had some breakthrough developments for video conferencing, it was only in the 1990’s that technical advancement in Internet Protocol (IP) and development of efficient video compression technologies enabled PC-based or desktop-based video conferencing.

How does video conferencing facilitate business operations for current business environments?

Video conferencing, which has expanded from the conference room to office desktops to home laptops to mobile devices is increasingly becoming an important enterprise productivity tool:

• Video conferencing is an efficient and effective communication solution for global businesses spread across disparate locations. This helps share business information at multiple locations in real time.
• Use of video conferencing systems allows synchronization of business information from multiple location, thus considerably saving travel cost for personnel.
• Video conferencing offers instantaneous and effective mass communication. Hence, it can be leveraged by governments for natural calamities, emergencies, and communal disruptions.

Owing to these factors, the global video conferencing market is expected to grow at a CAGR of 9.36% from 2014 to 2020.