Conferencing Week in Review: Frost & Sullivan, Logitech, More
Conferencing continued to make great strides this past week, and we’ve got all the latest news.
Up front, growth-partnership company Frost & Sullivan came out with its latest piece of research, and it confirms what most rational people already now – and practice. Web conferencing is about to get huge. The study, “Analysis of the Global Web Conferencing Market”, finds that the market, which includes software as a service and on-premises solutions, “grew at a healthy growth rate of 10.5 percent in 2013 reaching $2 billion in revenue,” Frost & Sullivan said. “Web conferencing software and service revenue are forecasted to hit $3.05 billion by 2018 at a compound annual growth rate of 8.8 percent. SaaS, which contributed 83 percent of total Web conferencing revenue in 2013, remains the dominant model.” Full details are available HERE.
In other news, as video communication technology and broadband infrastructure both continue to improve, many organizations are recognizing the wide range of benefits brought by conducting video interviews in place of traditional face-to-face ones. The most visible advantages include improved flexibility and cost efficiency, according to a recent article in The Asian Age about the trend's growth in India. Eliminating the need to physically be in the same place during an interview is arguably the most important advantage of a video interview. The logistics of organizing a meeting between an interviewer and candidate is difficult enough for professionals with busy schedules, but factoring in travel and associated time losses makes the practice highly impractical. A video interview is thus generally the most convenient, time efficient option for both parties involved.
There’s good news on the education side as well. Education is one of the many fields that can benefit greatly from utilizing video conferencing. Communication in education is going global -- between students and their peers and students and professors, there is no end to who video conferencing can connect. Students can video chat with peers in London, interview with professors in Chile or be given a virtual tour of NASA. It opens doors of communication and knowledge that used to be limited by the boundaries of distance.
Also, a new report suggests that video conferencing is about to get more portable than it's ever been with the release of Logitech's new ConferenceCam Connect system. It's being billed as “the first 'anytime, anywhere portable video conferencing solution”, and with good reason; the ConferenceCam Connect system is only about three times as long as its own remote control system, and according to the company, the system costs about as much as an office chair. Full details are HERE.
As the market continues to expand, be sure to come back often for more updates.