Growth of Telepresence Despite Economic Obstacles

Despite an overall lackluster economy, the growth in telepresence still remains promising. While the benefits of telepresence and video conferencing are clear, obstacles in the World Macroeconomy prevented certain businesses from making the transition; in the past few years, companies have had to prioritize again and again, and even cut back on which at first they deemed essential. However, there were still some improvements in the telepresence and videoconferencing market, signaling both the current strength and future prospects of the industry.

Recent research provided by IDC shows that the worldwide enterprise videoconferencing and telepresence equipment market was $2.64 billion in 2012, down from $2.71 billion in 2011. However, they attribute this decrease to macroeconomic variables rather than a decrease in demand for the equipment.

While the overall equipment market decreased, other aspects of the telepresence and videoconferencing industry saw healthy growth. In 2012, room-based video conferencing grew 4.1 percent from 2011, and personal videoconferencing grew 5 percent.

The benefits of videoconferencing remain intact and relevant. Businesses can still cut down on increasing travel fees and save time and energy by hosting a video conference rather than an actual meeting. In addition, the telepresence and videoconferencing industry both depends on and is driven by network externalities. Similar to how the fax machine became more useful when other businesses purchased fax machines, videoconferencing becomes more desirable as other businesses adopt the technology. With growth in the industry and the equipment market seeing new customers enter the industry, videoconferencing is set to continue it's growth and increasingly be seen as a necessity for day-to-day business.

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