by Brianna Crandall — April 10, 2015—Independent tech-focused global research firm TechNavio has published a new report on the global cloud-based video conferencing market, which the firm says is being driven by the increased adoption of cloud-based solutions and is expected to grow at a compound annual growth rate (CAGR) of 39.06 percent from 2014 to 2019.
As TechNavio explains, cloud-based video conferencing or video conferencing-as-a-service (VCaaS) allows two or more locations to communicate by simultaneous two-sided audio and video transmissions. In cloud solutions, cloud server is used to transfer, access, and storage data. Video conferencing is different from videophone calls as the former is designed to process multiple locations rather than individuals.
VCaaS reportedly provides organizations the benefits of high-quality high-definition (HD) video conferencing technology without any major investment in hardware, infrastructure, and network. Cloud-based video conferencing is designed to make video transmissions easily accessible to anyone at any point of time from anywhere.
The report draws attention towards enterprises that are shifting from on-premise video conferencing to cloud-based video conferencing because it is more convenient and cost-effective. This approach keeps the technology up to date, and helps users avoid the continued cost of maintenance and upgrades.
“Vendors are providing more scalable and manageable cloud-based video conferencing solutions, which also offer better value-for-money by integrating real-time and non-real-time communications,” says Faisal Ghaus, vice president of TechNavio.
The report also emphasizes the growing popularity of bring your own device (BYOD) policies among small and medium-sized enterprises (SMEs). BYOD is an emerging concept that encourages employees to use their own mobile device for accessing the company’s data and systems. Most video conferencing-as-a-service solutions use a browser to access the services and are compatible with different operating systems, according to the report.
“Cloud-based video conferencing allows organizations to adopt the BYOD policy [with] minimum interoperability issues, thus enhancing overall organizational productivity,” adds Ghaus.
The main challenge to the VCaaS market identified by TechNavio is a growing concern regarding data security.
The report also includes a discussion of the key vendors operating in this market, which TechNavio identifies as Avaya, Cisco Systems, Huawei Investment & Holdings, and Polycom. Other prominent vendors include Blue Jeans Network, Fuze, LifeSize Communications, StarLeaf, Videxio, Vidyo and Zoom Video Communications.
This report covers the present scenario and the growth prospects of the global cloud-based video conferencing market for the period 2015 to 2019. To calculate the market size, the report considers revenue generated from cloud-based video conferencing solutions, software, tools, applications, services, support, and maintenance.
The 70-page Global Cloud-based Video Conferencing Market 2015-2019 is available for purchase from the TechNavio Web site.
