Video conferencing market keeps growing & growing

Over the last few years Simoda have seen a increase in Video conferencing opportunities and as a business we constantly monitor the market place and look at research to ensure we are focused in the right areas.

Here is our thoughts on recent video conferencing market opportunity research.

The global video conferencing market size was valued at a staggering $7 billion dollars in 2022, however the market is expected to grow to a whopping $17 billion dollars by 2030. The question is why and are we on the right track to help our customers take advantage of the growth in this technology area.

Obviously the Covid-19 pandemic played a major part in the growth because even the most rigid businesses had to start and take flexible working seriously.

Forget generation X or Y we now have generation Zoom or Teams

We are moving into a new generation where the video conferencing is the norm in most businesses and it also plays a huge part in our personal lives as well with friends and family (even the older ones) facetiming.

What is happening in business video conferencing ?

Interesting technologies such as Artificial Intelligence (A.I), Internet of Things (I.O.T) and the vast opportunity that the cloud provides is what will drive the market growth over the next few years. Right now the name of the game is 'integrated'. The likes of Microsoft, Zoom & Cisco are bounding ahead with enabling their systems to be directly integrated with the OEM providers of hardware such as screens.

New room types

In the days gone by most businesses would have a video conferencing room, this was usually the boardroom where the senior leadership team blew their budget on expensive and extravagant conferencing system they used 3 times a year.

Now we have different categories of rooms and there are solutions available for each one, because we are definitely not in a world of one size fits all anymore.

Small rooms
Huddle rooms
Single pods
Large rooms
Boardrooms
Conference rooms

What is next ?

The hardware market place is growing and diversifying to meet ever increasing demands, we see a high demand for new conferencing solutions as businesses move towards Teams or Zoom. The real value is coming from software (like most areas of technology).

The next area of software growth is the introduction of Virtual Reality (V.R) & Augmented Reality (A.R) into standard video conferencing solutions, this is an area I think is very very exciting and something we are looking forward to seeing develop.

Service excellence

We have seen lots of success in video conferencing recently and when analysing why, we have found a few important areas keep coming up.

1, Deep understanding of the requirements

Sounds obvious but we strive to establish a deep understanding of the customers requirements early in any conversation, this gives us clarity as to what solutions will deliver true value.

2, The importance of flexibility

As discussed above, when it comes to video conferencing not one size fits all. Users have different needs and our solution needs to be flexible enough to deliver for all.

3, Pride in service / install

This might sound like bragging but we are phenomenal at service installs, our network install team take huge pride in their installs and we have lots of customers willing to vouch for them.

Summary

It is our job to keep an eye on the market place and ensure our solutions & services meet the needs of our customers.