Growth Opportunities in the Global Conferencing Services Market, Forecast to 2023
Growth Opportunities in the Global Conferencing Services Market, Forecast to 2023 Updated Research Available
Software-based Visual Collaboration Continues to Drive Growth
09-Mar-2018
North America
Description
The global conferencing Services market experienced a growth of 4.6 percent and garnered revenues of $8.0 billion in 2016. The maturity of audio conferencing services combined with the growth of VoIP access at the expense of PSTN, and the shift from attended to automated audio conferencing compressed the demand for stand-alone audio conferencing which still constitutes the majority of overall conferencing revenues. In addition, weak economic situation and Euro currency depreciation against the US Dollar resulted in lower foreign exchange and impacted the market sentiment.
On the other hand, the cloud web and video conferencing services market experienced a healthy growth of 16 percent in 2016 owing to increased user comfort with collaborating over video, improved usability and intuitive user interfaces of video clients. The visual collaboration growth could be further attributed to the massive shift in demand from on-premises conferencing and collaboration solutions to cloud services due to the cost-effectiveness, scalability and flexibility of cloud architectures.
In 2016, audio conferencing accounted for 50.9 percent of the global conferencing services market, cloud web & video conferencing 40.1 percent, and managed video conferencing 9.0 percent, in terms of revenue. These proportions are expected to change significantly by 2023 with cloud web & video conferencing services representing 61.6 percent of total conferencing services revenue. The overall market is expected to grow gradually and reach $11 bn. at a 7-year CAGR of 4.6 percent by 2023.
The overall conferencing services market is getting increasingly commoditized due to feature parity between services provided by multiple providers. Therefore, with little feature differentiation, focusing on strengthening customer service will be critical for further growth in this market. In particular, the cloud web and video conferencing services market is a highly fragmented market fraught with a good mix of pure-play video conferencing participants; and telecom service providers reselling cloud software. Leading participants in the cloud web and video conferencing market include Cisco and LogMeIn(consolidated Join.me, Citrix GoTo and Jive portfolio). Key notable market disruptors include Zoom, BlueJeans, Fuze and Videxio.
Research Scope
This research service identifies key growth opportunities and explains how market participants should action to capitalize on the opportunities available in the conferencing services market. This research service captures the market opportunity for the period 2016-2023 for audio, cloud web and video conferencing and managed video conferencing sub-segments.
Key Issues Addressed
- Drivers and Restraints impacting the conferencing services market
- Current state and addressable market opportunity for audio conferencing, cloud web and video conferencing and managed video conferencing services
- Market leaders in the overall conferencing services market
- Revenue contribution from NA, EMEA, APAC and Latin America regions
- Growth Opportunities existing in the conferencing services market
RESEARCH: INFOGRAPHIC
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Table of Contents
Purpose of this Experiential Study
5 Step Process to Transformational Growth
Strategic Imperatives for Conferencing Service Providers
Scope and Market Definitions
Market Definitions
Market Definitions (continued)
Market Definitions (continued)
Enterprise Communications and Collaboration Landscape
Conferencing Services Provider Landscape
State of the Market
State of the Market (continued)
State of the Market (continued)
State of the Market (continued)
State of the Market (continued)
Market Drivers
Market Restraints
Revenue Forecast—Global Conferencing Services Market
Percent Revenue by Service Segment
Percent Revenue by Region
Percent Revenue by Vendor—Audio Conferencing Services
Percent Revenue by Vendor—Cloud Web and Video Conferencing Services
Percent Revenue by Vendor—Managed Video Conferencing Services
Unit Forecast—Audio Conferencing Services Market
Unit Forecast—Cloud Web and Video Conferencing Services Market
Macro to Micro Visioning
Top Predictions for the Conferencing Services Market
Levers for Growth
Growth Opportunity 1—Natural Visual Collaboration
Growth Opportunity 2—Embracing Software-Centric Video Architectures
Growth Opportunity 3—Huddle Room Opportunity
Growth Opportunity 4—Next-Generation Team Collaboration Workspaces
Growth Opportunity 5—End-to-end UC&C Stack
Growth Opportunity 6—Artificial Intelligence in Collaboration
Growth Opportunity 7—Actionable Analytics
Growth Opportunity 8—HD Audio
Growth Opportunity 9—Emergence of Purpose-built Systems
Growth Opportunity 10—IoT opportunity
Growth Opportunity 11—Channel Marketing
Growth Opportunity 12—Innovation and Transformation
Growth Opportunity 13—Sales and Marketing Use Cases
Growth Opportunity 14—Social Media Marketing
Identifying Your Company’s Growth Zone
Total Growth Opportunity Matrix 1–9: Vision and Strategy
Total Growth Opportunity Matrix 10–14: Brand and Demand
Total Growth Opportunities Matrix Chart
Growth Strategies for Your Company
Prioritized Opportunities through Implementation
Legal Disclaimer
Abbreviations and Acronyms Used
Other Vendors of Audio Conferencing Services
Other Vendors of Cloud Web and Video Conferencing Services
Other Vendors of Managed Video Conferencing Services
List of Exhibits
Popular Topics
No Index | No |
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Podcast | No |
Author | Vaishno Devi Srinivasan |
Industries | Telecom |
WIP Number | MD96-01-00-00-00 |
Is Prebook | No |
GPS Codes | 9656,9705-C1,9717-C3 |