Global Video Conferencing Market Trends and Forecast 2014 – 2020

The global video conferencing market was valued at US$ 3.31 Bn and is expected to reach US$ 6.40 Bn by 2020, growing at a CAGR of 9.36% during the forecast period 2014 to 2020.

Video conferencing solutions are widely accepted in the global corporate enterprises segment owing to significant benefits such as operational efficiency and cost reduction. With the increasing need to lower operating costs and travelling expenditure in government operations, there has been an increase in adoption of video conferencing solutions in the public sector. In addition, increasing applications in the defense sector have led to the growth of this market. Rising expenditure in telemedicine and applications such as remote patient monitoring, diagnosis and tele-consultation have led to the rising popularity of video conferencing solutions in the healthcare industry. Other applications including distance learning and web-seminars are expected to drive the growth of the video conferencing market in the education sector. Video conferencing solutions have also found usage in the media and entertainment industry for broadcasting special interactive events.

North America video conferencing market led the overall video conferencing market in terms of revenue in 2013 owing to significant adoption of video conferencing solutions in the region across the business and government sector. Europeheld the second largest revenue share of the overall video conferencing market in 2013. However, economic slowdown and reduced public expenditure in the region are impacting the growth of the video conferencing market in Europe. Video conferencing market in Asia Pacific is expected to achieve significant growth during the forecast period 2014 to 2020. Increasing demand from countries including India and China are expected to primarily drive the growth of this market in this region. Opportunities from other regions including Latin America and the Middle East are expected to further drive the growth of the video conferencing market during the forecast period 2014 to 2020.

Did you know that Video Conferencing Benefits Insurance Professionals?

DRIVE BUSINESS PERFORMANCE WITH THE POWER OF VIDEO CONFERENCING

Video conferencing has opened numerous opportunities for businesses. The New York Times reports that increasing numbers of service professionals like therapists and attorneys are beginning to rely on allowing them to provide greater customer service and better meet their clients’ needs. For insurance professionals, the benefits are similar. If you’re already in the practice or considering opening one, here are some things you’ll want to know.

Greater Range and Flexibility: Unless you live in a highly populated city, you probably need to make connections outside your immediate sphere of influence. PBS reports that an estimated 38 million people are in need of better or more tailored insurance, but these individuals are scattered across the nation. You still have to find them. Even within a single state, particularly some of the western and Midwestern states, there can be hundreds of miles between you and prospective clients

Greater Trust: People are more inclined to distrust individuals when they’re communicating through emails because it’s easier to lie in print than it is in person. People tend to feel confident in their abilities to assess whether someone is lying if they can see that person’s face. Through video conferencing, you have greater opportunities to share how your service can help them while at the same time alleviating their fears.

At h323HD, Inc. we specialize in implementing, designing, installing and configuring of corporate level video conference infrastructures, video integration and audiovisual systems, including control touch panel programming.  Visit our website at www.h323hd.com for more information.

How video conferencing helps businesses cut costs

Over the years, the rise in technology (primarily smartphones) has led to a phenomenal increase in video conferencing technology, either through calls or instant messaging (IM) chats. While the percentage of individual use of video and phone conference services like Polycom is on the rise, businesses have also caught on, finding that the adoption of video conferencing can not only reduce costs, but improve the versatility of their communications infrastructure as well.

Aside from the obvious cost improvements, video conferencing also allows for everyone, regardless of setting, to communicate with one another. In all reality though, the benefits associated with video conferencing are abundant. Some of these benefits include:

1.)  Rapid Outreach

Arguably one of the greatest benefits of video conferencing is the speed at which vital information can be communicated. Since most businesses have competitors, the simple aspect of being able to communicate important details (goals, sales quotas, deadlines, etc.) can be the stepping stone needed to get out ahead of the pack, so to speak. Another fantastic benefit is the ability to hold virtual meetings. What this means is that leaders, managers, associates, and employees can basically talk amongst one another from any location.

2.)  Optimized Business Operations

For the most part, the bulk of communication within a business occurs through email because it is fast and convenient. However, emails can easily become misconstrued and interpreted wrong, likely resulting in a lack of communication. With video conferencing, however, because the communication is taking place face-to-face, business leaders can make sure their managers completely understand what is being asked of them. This in turn, can be translated effectively to employees. Not only that, but video conferencing also allows for any misunderstandings or questions to be adjusted immediately.

3.)  An Eco-Friendly Improvement

Lately, the trend with most businesses is reducing their carbon footprint in order to alleviate some of the negative effects that might be afflicted on the surrounding environment. While it may not seem like it at first, video conferencing can actually help reduce this carbon footprint simply by reducing the amount of travel needed to facilitate business. Business executives are often on the move, traveling from place to place. This usually means taking a car or plane, which produce harmful emissions into the environment. However, the adoption of video conferencing can eliminate a significant amount of travel by allowing executives to communicate virtually.

As you can see, besides reducing costs, establishing a video conferencing system within a business can result in a multitude of benefits. Ultimately, a business needs to be able to adapt and respond to various stimuli, both internally and externally. Video conferencing helps bridge the communication gap.

Say NO to business travel, YES to videoconferencing

The next time you choose videoconferencing over flying to a business destination, don’t think of it as an act of lethargy. On the contrary, you are joining the fight against climate change by reducing carbon emissions.

A report released by the CDP (Carbon Disclosure Project India), along with the Indian Institute of Management, Bangalore (IIMB), here on Thursday, has revealed that business travel contributes over 55.04 lakh tonnes of carbon-dioxide equivalents (CO2e).

“Savings achieved through video-conferencing and telecommunicating with moderate ICT (Information and Communications technology) penetration in 2030 can offset greenhouse gas emissions more than 70 times the present emissions owing to annual air traffic between New Delhi and Mumbai,” the report quoted as an example.

The report ‘ICT sector’s role in climate change mitigation: An analysis of climate change performance and preparedness of global ICT companies’ analysed 320 ICT companies (10 from India) in over 35 countries in 2012-13. Companies which participated included Infosys, TCS, Wipro, Accenture, Google and Microsoft.

The study categorised emissions into: direct emissions, indirect emissions from consumption of purchased electricity, heat or steam, and other indirect emissions such as fuel and transport (vehicles not owned or controlled by the company).

In the third category, use of sold products accounted for 56 per cent of emissions, followed by purchased goods and services (35 per cent). These were followed by sources that included business travel and employee commuting. The first two categories include data centres and provision of network and connectivity services as sources of emissions.

Interestingly, the first two categories account for a significant percentage of emissions in emerging economies, such as India, China and South Africa. In comparison, the third category of emissions is significant in the U.S., Japan, the U.K. and France.

Core business strategy

The report also said 81 per cent of 320 companies analysed have integrated climate change into core business strategy and over 40 per cent of the companies have managed to reduce their emissions. Bangalore-based companies have adopted different strategies. While Wipro has “consolidated operations in energy efficient locations and increased renewable shares of office consumption”, Infosys has set “voluntary goals to reduce energy and water consumption in daily operations”.

Did you know that 60% of companies choose videoconferencing over face-to-face meetings

60 per cent of businesses opt for conference calls over face-to-face meetings as the global nature of most industries push firms to opt out of traditional meetings.
 
Of those surveyed, 66 per cent stated that the biggest disadvantage of traditional face-to-face meetings is the time it takes to travel to and from them, 50 per cent ranking cost as the worst disadvantage. “Many companies still prefer traditional face-to-face meetings as they are considered more personable and engaging than audio conference calls, but travelling to and from meetings is costly and time-consuming. Businesses are already beginning to see that video conferencing is the answer to bridge this gap.”

46 per cent still think face-to-face meetings make the most sense for their business and doubts about conference calls still very much exist with 35 per cent put off video conferencing by poor audio or visual quality. Meanwhile, 28 per cent blamed the complexity of setting up the technology for not bothering to implement a conference calling strategy.

Businesses must look to new technologies such as High-Definition [HD] video conferencing that flawlessly meet business expectations to help them maintain relationships, achieve their business goals and remain as efficient as possible.

Video conferencing makes sense for many businesses

In FARGO, N.D. – Improved technology, lower costs and social trends are driving more companies to use video conferencing in the workplace, and doing so has provided those companies a number of benefits.Video conferencing allows businesses to hold meetings and conduct interviews without leaving the workplace. It cuts down on time-consuming travel and the associated costs.Gate City Bank invested in video conference technology late last year.

Adopting the technology had been on the minds of officials at Gate City Bank for some time. The company had grown to 34 locations and they were looking for ways to streamline operations.After testing a few systems, they enlisted Bloomington, Minn.-based Video Guidance to provide video conference technology for their boardrooms, desktops and mobile devices.The most easily measured benefits are time and travel savings. Video conferencing has enabled employees from multiple Gate City branches to connect for meetings and training 

 

h323HD, inc. will be attending the June NYC Business & Entrepreneur Grade-A Networking Mixer

ImageJune 10, 2014 from 6:00 p.m. to 9:00 p.m.

“This Ain’t Your Mama’s Business Mixer!” We’re SO Excited!  Join The NYC Business Networking Group (NYCBNG) for their monthly Networking Opportunity. At the events we all work together to build and strengthen each others’ businesses and see how we can help each other…h323HD, Inc. attends these monthly events and it’s always great to see new faces and make great connections.

This event is on www.meetup.com.  It’s located at PrannaNYC (28th & Madison Avenue) Upstairs.  $20.00 at the door and $10.00 in advance.   

Hope to see you there!

HR Professionals Expect Video Conferencing to be Their Preferred Communications Tool in 2016

Did you know that HR Professionals Expect Video Conferencing to be Their Preferred Communications Tool in 2016?

98 percent of Human Resources executives surveyed say video conferencing helps companies defy distance and break down cultural barriers to improve productivity.

– Move toward video provides advantages for talent management, staffing, training, productivity and flexible work enablement.

Proving that the benefits of video for HR functions are well understood, the survey of business decision makers in 12 countries revealed that almost all (98 percent) of the HR executives participating in the survey believe video conferencing removes distance barriers and improves productivity between teams in different cities and countries.