Cloud Videoconferencing Has Broad Appeal
The cloud is where the action is when it comes to videoconferencing. And that’s true across the spectrum – whether you’re looking at the most forward-thinking tech companies or the most buttoned-up enterprises.
Indeed, companies including Facebook, Palo Alto Networks, Slack, and Uber all employ cloud-based videoconferencing today. These are obviously some of the key movers in shakers in Silicon Valley.
But so do companies such as the Institute of Chartered Accountants in England and Wales. This organization was established by royal charter 137 years ago.
This laundry list just illustrates the broad appeal of cloud-based videoconferencing solutions, which enable businesses to access services without large upfront investments and to more easily enable people at their distributed organizations to communicate and collaborate.
Blue Jeans Network, which provides cloud-based videoconferencing solutions to nearly half of the Fortune 500, is the provider for Facebook. Zoom, which is used by more than 700,000 companies, provides cloud-based videoconferencing services to Palo Alto, Slack, and Uber. And Lifesize serves the Institute of Chartered Accountants in England and Wales.
These three companies are among a much larger group of companies that are competing to win new customers in the global marketplace for videoconferencing services.
The 2016 Gartner Magic Quadrant for Web Conferencing lists Cisco, Microsoft, Adobe, Citrix, and Zoom as the leaders; Google as the challenger; LogMein, Arkadin, and Blackboard as the niche players; and Vidyo, IBM, PGi, West, and Fuze as the visionaries. Transparent Market Research says Cisco is the leader in the global videoconferencing space, and it notes Adobe, Arkadin, Huawei, Logitech, Microsoft, Orange, Polycom, Vidyo, West, and ZTE as among the other players.
According to Global Industry Analysts Inc., the videoconferencing market will be worth $2.9 billion by 2020, Transparency Market Research, meanwhile, expects the global video conferencing market to be worth more than $8,958.7 million by 2025. If that happens, the research firm adds, it will represent a compound annual growth rate of 8.3 percent between 2017 and 2025. And Quentin Gallivan, who earlier this month joined Blue Jeans Network as CEO, suggests there’s a $40 billion enterprise video opportunity.
Growth in the videoconferencing space, according to Global Industry Analysts, is being driven by the rising popularity of cloud-based videoconferencing services. Also contributing to its growth, the firm says, is the increasing use of videoconferencing by organizations in the education and health care sectors.
"IDC survey adoption data indicates that video continues to be a key component of collaboration and places high on the list of priorities for many organizations," says Petr Jirovsky, Research Manager, Worldwide Networking Trackers in a study about the videoconferencing equipment market, which is distinct from the services market. "IDC believes that among the challenges customers are currently working through are determining exactly when and how to provision their video deployments as more software-centric and cloud-based service offerings become part of the enterprise video market landscape."
Edited by Maurice Nagle