Telecommunications analyst Ovum believes that spending on web conferencing will reach $2.7 billion in 2015, doubling the $1.2 billion that was reached in 2010.
With more and more businesses cutting unnecessary operation costs, the popularity of video conferencing will only increase. Companies who pay for employees to fly to different cities are realizing that this can be an alternative that can help reduce expenses. Richard Thurston, who headed the report, mentioned to TMC Net that by utilizing this kind of technology, enterprises are able to "communicate effectively with customers, colleagues and business partners without leaving their office."
The advent of mobile and home-based working is also helping increase the presence of video conferencing. As more work becomes web-based and available to those who would rather work at home, the idea of meeting online is seen to be a more convenient solution.
For as little as 3.5 cents a minute, web conferencing seems to be a much more inexpensive substitute to costly corporate flights and accommodations.