Applications and Services Driving the Future of Conferencing
Applications and services are driving today’s digital economy and the conferencing market exemplifies this. We cover conferencing equipment quite a bit in this space, as well as quality issues, concerns and the tools for troubleshooting them. But applications and services are an important part of conferencing, acting as the end user interface and the gateway to successful communications and collaboration. Applications and services are what will push conferencing to its next growth stage, making it a ubiquitous business communications solution.
The global market for web conferencing is a prime example of how applications and services, along with technologies like real-time communications (RTC), are driving and shaping the conferencing arena. Grand View Research expects the market to grow at a healthy 10-percent CAGR from 2016 to 2024, and RTC-enabled services that fuel interactive conferences, online workshops, seminars and presentations will play a large role in that growth. Conferencing applications also embed features like text messaging, collaboration and video chat, facilitating collaboration and productivity for geographically dispersed participants.
Frost & Sullivan expects the global market for web conferencing software and services to reach $3.6 billion by 2020, thanks to a trend toward consolidation of audio, video and web conferences under the umbrella of online meetings. The need for team collaboration, driven by the remote work and BYOD trends, is fueling growth of applications and services as well as the number of affordably priced cloud conferencing solutions. The research forecasts an ever-blurring line between video and web conferencing as WebRTC and VoIP become ubiquitous communication tools, enabling an affordable path to conferencing adoption.
Ultimately, the conferencing market will transform as trends like mobility, the cloud, IoT, BYOD and big data analytics drive the digital economy. Applications and services are already moving to the forefront, replacing cumbersome and expensive legacy solutions. Of course, the need for reliable hardware and quality control measures will remain a critical part of conferencing, but applications and services will play a strong role in shaping the market moving forward.
Edited by Stefania Viscusi