Global Conference Calls Services Market - Insights
Conference call services has evolved many industries through its services and has totally changed the procedure or the way of working of the corporate enterprises as well as other industries. The shift from audio to video conferencing is taking a huge hike in the conference call services market, as it provides more flexibility and is more user friendly while saving the resources such as time and money of any enterprise or individual.
Global conference call services market is expected to witness significant growth during the forecast period (2018–2026). The market growth is majorly attributed to continuous improvements in the technologies and modes (video and audio) of conference calls. For instance, the first ever conference transcontinental call took place in 1915 between New York and San Francisco. Since then, the conference call services has evolved to augmented reality (AR) & virtual reality (VR). This emerging trend in the conference call services market is expected to drive growth of the market over the forecast period of 2018-2026. The users can see others in front of them in a head mounted display, which enables them to have a hands-free collaborative experience. The main advantage of AR is that it brings remote conferencing from a computer screen into real world. The users can view people and it has been found that virtual video avatar of a remote collaborator in the workplace or meetings provides much high degree of social presence than when seen on the computer screen.
Figure 1. Global Conference Call Services Market Share (%), by Region, 2017 & 2026
Source: Coherent Market Insights, 2016-17
Increasing demand for time-saving methods for communication is expected drive growth of the market
Meetings in corporate offices or companies takes place in the presence of all the important members who are necessary to accomplish any particular objective. Therefore, it is very important to take decisions in the presence of the concerned members. Conference call helps to reach out to multiple people who are at different locations and who cannot be present at the time of emergency for a meeting. The conference call services connects them at one place while saving time and money. Therefore, increasing demand for time-saving methods for communication is resulting in increasing demand for conference call services globally in different sectors.
Figure 2. Global Conference Call Services Market Share (%), By End User, 2017 & 2026
Source: Coherent Market Insights, 2016-17
Increasing trend of adopting advanced technology such as conference call services is expected to drive growth of the market
Leading players in the market such as Cisco and Polycom are adopting advanced technologies such as virtual reality and are continuously focusing on improving their working environment to enhance productivity. Conference call technology aids in effective management of resources, thereby driving growth of the market.
Increasing demand for security of the data and the conversation between the users during conference calls are driving the market growth
Confidential business data shared during a conference call needs to be secured at the time of important discussions. Conference call services gives full security of the data and conversations between the users and also provides the advantages of conversation recording for future purposes, which is important to run a business more efficiently. This aids in growth of the global conference call services market.
Some of the key players operating in the global conference call services market include Microsoft Corporation, Zoom Video Communications, Dialpad, Polycom, Infinite Conferencing Inc., GlobalMeet, Arkadin SAS, AT Conference, ConferenceCalls, RingCentral Business Phone Services, Zip Conferencing, InterCall Online, and Budget Conferencing Inc.
The global conference call services market is expected to witness good growth, as it has become a necessity for all the leading corporate business companies to deal with their international service providers, partners, and customers. Conference call services enable real-time collaboration of the business units of any company or different companies to communicate with its operating or non-operating clients or business units. Increasing demand for security of the data and conversation between the users, rising need for time-saving & cost saving methods for communication for business or other related objectives, and increasing demand for communicating to the company’s workforce through mobile are some of the major factors driving growth of the global conference call services market. The audio clarity during the voice conference call and requirement of high constant internet connection during video conference call are some of the major restraints affecting growth of the global conferencing calls services market.
Conference calling services provides the advantages such as help in urgent requirement of getting the status update between the teams of any company that are in different locations or business units, saves resources for any business. As per Polycom’s global study in 2017 of more than 24,000 professionals looked at the conferencing activity across 11 major countries found that every one in three people reduced the email activity after adopting conferencing technology. Conferencing call technology is increasingly being adopted in industries such as government & defense services, and corporate enterprises. The audio conferencing call has evolved to video call conferencing, as it is more flexible. It offers advantages of archiving, improved telecommunication, clear audio with vision, saves time & money, and content sharing through the video conferencing software such as ‘Scopia’ from Avaya.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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