Video conferencing a hit in recession, influenza-stricken times
25 August 2009
Mumbai: The Asia-Pacific video conferencing endpoints market is expected to grow by 15.3 per cent this year - up from 15 per cent in 2008 - as budgets tighten and the influenza pandemic raises travel woes. Revenues are estimated to reach $379.4 million by the end of 2009.
Frost & Sullivan industry analyst Pranabesh Nath expects this rising growth to continue over the next four years, before easing gradually.
New analysis from Frost & Sullivan, Asia-Pacific Video Conferencing Endpoints Market, finds that the market - covering 13 Asia-Pac countries - earned revenues of $329.1 million in 2008 and estimates this to grow at a CAGR (compound annual growth rate) of 17.7 per cent (2009-2015).
Frost & Sullivan predicts the market will be worth just over $1.0 billion by end-2015.
"This upbeat outlook for video conferencing solutions is buoyed by the need for real-time collaboration as productivity tools, and the increasing availability of next-generation video conferencing devices and compression technologies," says Nath.
"Despite reduced spending in a recessionary climate, most companies realize that investing in video conferencing solutions provides long-term savings compared to direct travel, by enabling cost-effective long-distance communications," he adds. "It also increases employee productivity and collaboration due to the ability to conduct more meetings than is possible with physical travel."