Cloud-based video conferencing increasing in popularity

Cloud-based video conferencing increasing in popularity

Cloud-based video conferencing services are becoming increasingly popular, a new report has suggested.

A study by Global Industry Analysts (GIA) found the cloud-based video conferencing services market could be worth $2.9 billion (£1.96 billion) by 2020.

The report found that use of such services has seen particularly substantial growth in government, healthcare and education.

Experts believe all three sectors will be at the heart of the market's growth over the next few years.

Some 85 per cent of business professionals said they wanted a cloud-based video conferencing service for remote meetings.

Many respondents also recognised the need for such services, with 76 per cent of professionals stating they were more likely to pay attention to a video conference than a web conference.

The United States was found to be the largest market for cloud-based video conferencing, although the Asia-Pacific region is expected to be the fastest-growing market, with a compound annual growth rate (CAGR) of 13.5 per cent through 2020.

The report argued that the rising demand for such services was mainly due to increased enterprise mobility.

Yet while mobile working is seen as being important, businesses appear reluctant to enjoy the associated benefits if it means compromising on face-to-face interaction. A total of 71 per cent of respondents said they had lost a business deal due to an inability to see the face of a potential business partner.

The successful implementation of video conferencing has potentially significant benefits for businesses, with the report finding that professionals have saved an estimated 2.1 billion miles of travel.

Those savings in distance have translated into a monetary value of $1.3 billion over the last six months.