Enterprise Video Conferencing Market Size, Industry Share

According to a new market research report published by Credence Research “Enterprise Video Conferencing (On-premise, Cloud-based and Managed Services) Market - Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 - 2023”, the global enterprise video conferencing market was valued at US$ 2,491.0 Mn in 2015 and is estimated to expand with a CAGR of 7.5% from 2016 to 2023.
Browse the full report at http://www.credenceresearch.com/report/enterprise-video-conferencing-market
Market Insights:
With the rising globalization of business organizations worldwide, need for flexible, scalable and cost effective communication techniques has grown substantially since the past few years. In order to sustain in the ever-rising competition globally, business organizations continuously seek reliable and cost-effective collaboration systems for enabling better communication and decision making. Enterprise video conferencing refers to video communication designed specifically for the corporate enterprises. These solutions offer better scalability and reliability so as to enable better team collaboration and decision making.
By far, the corporate enterprises are the largest consumers of video conferencing solutions. Video conferencing becomes a viable solution for organizations to organize online conference thereby eliminating the costs related to travel and accommodation. Consequently, many organizations have already adopted video conferencing solutions for cost-reduction and effective collaboration among their teams. Likewise, enterprise video conferencing acts as a boon for business entities having multiple geographical locations requiring frequent collaboration.
Video conferencing solutions are available both; on-premise set-up as well as cloud-based. The vendors also offer managed solutions with an intent of delivering more feasible and cost-effective solution to consumers. With the rising shift towards BYOD (bring your own device) concept, corporate enterprises are increasingly turning towards cloud-based video conferencing solutions. This helps the enterprise communicate with their employees irrespective of their location. As a result, the market is witnessing a paradigm shift towards cloud-based solutions due to their low costs as compared to the on-premise deployment.
Competitive Insights:
The global enterprise video conferencing market is highly consolidated in nature with few major players accounting for more than 60% of the total market revenue. Major companies dominating the market include Cisco Systems, Inc., Polycom, Inc. and Huawei Technologies Co., Ltd. Some of the other prominent players in the market are ZTE Corporation, Microsoft Corporation, Vidyo, Inc. and Avaya, Inc.
The enterprise video conferencing market is largely technology driven and hence highly competitive in nature. Thus, most of these players focus on offering viable, scalable and cost-effective solutions in order to sustain in the market. As a part of providing advanced solutions, enterprise video conferencing vendors focus on delivering cloud-based and high quality video services.
Key Trends:
• Shift towards cloud-based enterprise video conferencing solutions
• Providing application specific video conferencing solutions for enterprises
• Introduction of high quality enterprise video conferencing solutions comprising HD video service
Browse the full report at http://www.credenceresearch.com/report/enterprise-video-conferencing-market
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Enterprise Video Conferencing may be used as an umbrella term for various types of online collaborative services including web seminars ("webinars"), webcasts, and peer-level web meetings. It may also be used in a more narrow sense to refer only to the peer-level web meeting context, in an attempt to disambiguate it from the other types of collaborative sessions. Terminology related to these technologies is inexact, and no generally agreed upon source or standards organization exists to provide an established usage reference.
In general, Enterprise Video Conferencing is made possible by Internet technologies, particularly on TCP/IP connections. Services may allow real-time point-to-point communications as well as multicast communications from one sender to many receivers. It offers data streams of text-based messages, voice and video chat to be shared simultaneously, across geographically dispersed locations. Applications for Enterprise Video Conferencing include meetings, training events, lectures, or presentations from a web-connected computer to other web-connected computers.
Source: Wikipedia
The Evolution Of Video In The Enterprise!!
With the changing attitude towards videoconferencing and evolving business needs, video has been pushed out of the room. The days of a dedicated infrastructure, network, and equipment are coming to an end with the proliferation of new technologies like cloud, mobile, and social.
Currently, videoconferencing is at an exciting stage. New realities like BYOD, remote work, the mainstream adoption of mobility, etc., have emerged in today’s business landscape and these changes are rapidly reshaping the video communications industry. The biggest benefit is that it has made meetings more convenient, efficient, productive, and cost-effective. Location or geographical boundaries are no longer barriers to seamless communication. Businesses can now arrange meetings with their clients, partners, or overseas teams, without incurring huge travel costs. This also supports the trends of mobility and remote operations. Employees can now collaborate outside the office, on the move, and from virtually anywhere, at any time. Not used just for collaboration, videoconferencing has been adopted by many organizations as effective means to train their workforce and even to hire new recruits. All of this indicates the technology is poised to soar even higher.[Ref: conferencetech.com]

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