Cloud-Based Video Conferencing Expecting Expansion
Take two of the hottest industries in technology today, combine them, and what do you get? Growth.
That seems to be the finding from a new report which shows that the cloud-based video conferencing market is expected to grow at a compound annual growth rate (CAGR) of 39.06 percent by 2019. For the uninitiated, cloud-based video conferencing or video conferencing-as-a-service (VCaaS) allows two or more locations to communicate by simultaneous two-sided audio and video transmissions.
According to the findings from TechNavio, VCaaS provides organizations the benefits of high-quality HD video conferencing technology without any major investment in hardware, infrastructure or network. Cloud-based video conferencing makes video transmissions easily accessible to anyone, at any point of time, from anywhere.
The report draws attention toward enterprises that are shifting from on-premises video conferencing to a cloud-based option because it is more convenient and cost-effective. This approach keeps the technology up to date, and helps users avoid the continued cost of maintenance and upgrades.
“Vendors are providing more scalable and manageable cloud-based video conferencing solutions, which also offer better value-for-money by integrating real-time and non-real-time communications,” TechNavio said in a statement.
According to the company, the report covers the present scenario and the growth prospects of the Global Cloud-based Video Conferencing market for the period 2015-2019. To calculate the market size, the report considered revenue generated from cloud-based video conferencing solutions, software, tools, applications, services, support and maintenance.
Currently, most video conferencing-as-a-service solutions use a browser to access the services and are compatible with different operating systems. But there’s a better way.
“Cloud-based video conferencing allows organizations to adopt a BYOD policy with minimum interoperability issues, thus enhancing overall organizational productivity,” TechNavio noted.
The full report, “Global Cloud-based Video Conferencing Market 2015-2019”, was prepared based on an in-depth market analysis with input from various industry experts.
Edited by Dominick Sorrentino