The video/conferencing market is expected to reach US$ 6.40 Billion by 2020 from the current $3.31 Billion.
However, there are also concerns for the equipment market – IDC reports – “The worldwide enterprise videoconferencing equipment market has been experiencing some downs lately — with consecutive quarters and two years of declining revenue growth in 2013 (-13.1%) and 2012 (-5.0%). This is mostly attributed to the impact of delayed customer buying decisions, lower-cost systems, more software-centric solutions, and the rise of cloud-based video services offerings for business. On the bright side, most or all of the videoconferencing equipment vendors are now offering cloud-based video alternatives for customers.“
The good news is that there is still a huge market as video conferencing will continue to be one of the most relied upon forms of communication by businesses. There are a vast number of different services and competitors to choose from in the marketplace, and this article will aim to draw attention to some of the diverse options available to both large and small companies; it is not necessarily a list of ‘biggest’ or ‘best’. This list contains a combination of both cloud based video and conferencing services.