A new report by Global Industry Analysts Inc. predicts that the Video Conferencing Market will reach $11.9 Billion by 2010, according to a PRWeb news release. Video conferencing has evolved into a cutting-edge technology enabling real-time, in-person, and face-to-face conversation. With advancements in technology, video conferencing has reached the 3G mobile applications arena including streaming, instant messaging, scheduling, and many more.
"Video Conferencing: A Global Strategic Business Report" offers a comprehensive review of market trends, challenges, product profile, players, competition, technological developments, recent developments, mergers, acquisitions, and other strategic industry activities. The report covers major geographic markets like the United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. Analytics are presented in terms of product/technology segments including video conferencing systems (IP & ISDN), and video conferencing services (IP, ISDN & Others).
According to the report, video conferencing is delivered on two underlying networks -- Integrated Services Digital Network (ISDN) and Internet Protocol (IP). Improved flexibility, seamless integration with other applications, enhanced reliability, and lower cost of networks are the key factors driving the industry to adopt video conferencing based on IP networks. Other factors include lower costs, high picture quality, clarity in audio, uninterrupted connections, and reduced transmission delays.
The U.S. is the largest market worldwide, worth approximately $4 billion in 2007, followed by Europe. Together, Europe and the U.S. accounted for 75% of the global video conferencing market. The global and regional markets are expected to grow at CAGRs of 6 to 14%.
According to the report, video conferencing services are the biggest market segment with revenue estimated at $6.7 billion in 2007. IP video conferencing is projected to reach $1.2 billion by 2010, and IP services expected to hit $8.3 billion by then.
Calvin Azuri is a contributing writer for TMCnet
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