Web conferencing demand to grow by 149 percent in Australia by 2016

Monday, February 14 2011

Video conferencing isn't just popular in America - businesses and individuals alike are embracing web and video conferencing technology in many other countries around the world, including Australia.

According to research undertaken by the consulting firm Ovum, demand for virtual meetings services, such as web conferencing, in the Land Down Under could grow nearly 150 percent over the next five years. Ovum, which is part of the Datamonitor group, conducted a survey which found that in addition to a 149 percent spike in the demand for web conferencing technology, global spending on web conferencing could hit US$2.7 billion.

In the Asia-Pacific region, which includes Australia, spending will reach $534 million in 2015, the firm predicts. That represents a compound annual growth rate of 23.5 percent since 2010.

The Asia-Pacific region is a unique situation that encourages this higher-than-average growth, says ChannelNews Australia, due to a large base of a new corporate customers and speedy economic development.

This news is important to business around the world, because web conferencing technology is one of the major ways that businesses in New York, London, Los Angeles, Chicago or any other city stay in touch with partners and clients in Australia and other faraway locales.