With so many efficiency-boosting technologies available today to help you manage and grow your law firm, it is sometimes difficult to identify the right ones to implement. Given recent trends, it is abundantly clear that law firms will focus their investments on technologies that can have the greatest impact on growing their bottom line. Due to its numerous benefits, including significant productivity gains, cost savings, and employee safety, videoconferencing tops the list. Law firms have used videoconferencing for many years. Recent developments have made it affordable for even the smallest firms. You can purchase equipment that cost tens of thousands of dollars only a few years ago for a fraction of that cost today. The products have become more reliable, easier to use, more compact, even portable, and manufacturers have greatly enhanced their capabilities and features. Popular thinking seems to indicate that now is the time to get your firm started with videoconferencing,
Research firm IDC reported that worldwide sales of video-conferencing equipment were up 15.8 per cent in the fourth quarter of 2014 while year-on-year sales increased 4 per cent, although market value for the full year was down 6.8 per cent.
Multi-coded telepresence equipment revenue declined 6.9 per cent quarter-over-quarter and 19.4 per cent year-on-year.
Room-based video system revenue increased 11.8 per cent in Q4 and 12.6 per cent year-on-year.
Personal video-conferencing systems revenue – including executive desktop systems – increased significantly, 64.8 per cent in Q4 and 25.4 per cent year-on-year.
Video infrastructure equipment revenue (US$136 million) – including MCUs and other video-related infrastructure – increased 19.9 per cent in Q4 but declined 14.9 per cent year-on-year.
Asia Pacific, revenue increased 12.2 per cent in Q4 and 5.4 per cent year-on-year.
“Although the worldwide video-conferencing equipment market enjoyed positive quarter-over-quarter and year-over-year revenue growth in some market segments in Q4 overall the market experienced its third consecutive year of declining revenue in the full-year 2014,” Rich Costello, senior analyst, Enterprise Communications Infrastructure at IDC, said. “The results are reflective of the on-going market transition from a primarily hardware-based technology to one impacted by the growing interest in software-based solutions and video subscription services.”