The global market for video conferencing equipment and services, in terms of revenue, was valued at US$3.69 billion in 2014 and is forecast to expand at a CAGR of 8.5% during the period from 2015 to 2023. This is according to a report titled Video Conferencing Market (On-premise, Managed and Cloud-based Video Conferencing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 - 2023.
According to the report, the market is mainly driven by growing globalisation of business organisations, the need for accessible communication methods as well as the desire to lower operational costs and effectively manage a global supply chain.
On the back of the fore-mentioned figures, black-owned telecoms operator Vox has launched Eyeris Lite, a video conferencing solution that is aimed at local small and medium enterprises (SMEs).
According to the company, the solution is cheaper than its predecessor and is available in two options: the basic bundle includes the PTZ camera, codec, configuration and installation; and the complete bundle, which adds on a 48-inch screen and Vox Air cloud video conferencing for four participants. The devices are configured ahead of time with IP information sourced from the customer, while on premises installation can also be done.
With increasing globalisation, most organisations are said to be shifting toward conference meetings in order to enable faster decisions and reduce travelling hassles.
"A small business with branches across the country can end up spending a lot of money for business executives to travel to their headquarters for meetings - costs they can save by rather using this technology," says Mauritz van Wyk, senior product manager for visual communications at Vox.
"Users can download a software client, connect to the server and are able to invite anybody to join into a meeting following the same process. Users don't have to be part of the same organisation to use the product either - it works on your Android or iOS smartphone or tablet. This is more secure than using a service like Skype, where public Internet resources that are shared with millions of other people are being used. With Skype, your call is also being routed via overseas servers, which means a long roundtrip that further degrades quality. By using a local, hosted solution access is gained to boardroom quality and security, at local bandwidth costs, anywhere in SA," concluded the company.
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