Video Conferencing for Online Meetings
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As the Economy Slows, Video Conferencing Services Soar
August 9th, 2008 by Video Conferencing Expert
In the last couple of years, video conferencing services have seen a sharp rise in popularity and usage, in large part due to concerns about the environment and a slowing economy that makes video conferencing a fiscally prudent alternative to travel. According to technology consultant Frost & Sullivan, the worldwide videoconferencing systems and services market, which touched $1.63 billion in 2007, is expected to grow to $4.2 billion by 2012.
Video Conferencing company, TNT, in an attempt to cut down on carbon dioxide emissions has called for a program called Planet Me. Planet Me is a drive to reduce business travel and in its place, use videoconferencing technology. TNT estimates that the CO2 savings from video conferencing alone could be 2.6 kilotons a year for the next four years, for a total savings of 10.5 kilotons over the period.
Some companies like Norwegian video conferencing equipment maker Tandberg are seeing record profits being made thorughout the industry. Tandberg With dual headquarters in Oslo and New York, leads the industry in revenue with 40% of the global videoconferencing market, according to Frost & Sullivan. Polycom, a U.S. based video conferencing equipment maker is currently leading the market with the number of units shipped. Together, Tandberg and Polycom control about 70% of the global market for videoconferencing devices and infrastructure.