Application convergence, the cloud, mobility and social technologies are transforming web conferencing, resulting in ground-breaking technology shifts that are empowering users with greater productivity benefits, Frost &
Sullivan claims in a new report, Analysis of the Global Web Conferencing Market. In 2013, the total web conferencing market, including software as a service (SaaS) and on-premises solutions, grew 10.5% to $2 billion.
Frost & Sullivan expects continued growth at a CAGR of 8.8% until 2018 when the market is expected to be worth $3.05 billion. SaaS, which contributed 83% of total web conferencing revenue in 2013, will remain the dominant model. However, there is expected to be a shift from ‘vanilla’ web conferencing solutions to all-in-one collaboration solutions that offer screen sharing and desktop video as standard features, along with file sharing and content management.
Frost & Sullivan Unified Communications & Collaboration Industry Director Roopam Jain said: “Convergence is leading to the emergence of all-in-one virtual workspaces that offer always-on messaging, instant voice, video, web multipoint meetings and content sharing in a team-centric space. Built on the premise of continuity of collaboration even after the meeting has concluded, these virtual workspaces are expected to become a central repository for contacts, meetings and content, making collaboration solutions stickier.”