Data from ABI Research shows that video conferencing revenue grew to $567 million in 2009, and will grow to $2.7 billion by 2015.
Although telepresence is an effective way for businesses to cut back on their costs after the economic crisis, the research indicates that companies were beginning to adopt telepresence strategies even before the recession. Video conferencing solutions can help profit margins grow by reducing or eliminating the need for costly business travel.
"Nearly any size company has access to telepresence and video conferencing services," said David Lemelin, director of the Enterprise Communications Research Service at ABI Research. "Suppliers are helping businesses transition to telepresence by introducing personal and room-based HD video conferencing solutions. Telepresence room rentals are also on the rise."
Dan Shey, ABI Research's enterprise practice director, added, "It is far easier to use telepresence for a single individual's contact with multiple sites than flying them everywhere. Of course, this only works when telepresence systems are available."
Video conferencing is a growing phenomenon that more and more businesses are beginning to take advantage of. Even the health system has gotten involved, with many medical facilities - such as the Cheyenne Veterans Affairs Medical Center in Wyoming - adopting telehealth video conferencing as a way to communicate with far-away patients.