The economy might be sluggish, but one industry expected to see a lot of growth in the foreseeable future is web conferencing.
ITPro reports that Ovum, a financial analysis organization, projects that companies will spend $3.8 billion on video conferences and attendant web conference technology by 2016.
Video conferencing is comprised not only of video call software, HD web cameras and high quality microphones, but also large telepresence suites. In fact, $1.1 billion is expected to be spent on immersive video conferencing technology in the next five years.
Immersive web conferencing refers to entire rooms devoted to remote meetings. This is accomplished by means of large projectors or LCD screens and multiple HD cameras. The result is an incredibly clear image which presents conference attendees in life size and creates the impression that all present are in the same room.
One of the obvious reasons for this projected growth could be the ease with which technology allows companies to create set-ups like this in their offices. However, an often overlooked benefit is the savings in fuel costs as well as other related expenditures, such as hotels and meals for traveling employees.