Evidence shows that organizations are upping investments in this technology and encouraging the utilization of real-time collaboration tools with web conferencing encompassing a vital part of it due to benefits such as reduced cost and optimized productivity. New opportunities have been unfolding for the market with the expansion of regional and global businesses, which favor remote interaction as well as the creation of virtual teams. Overall, the requirement for high-impact collaboration tools is on the rise.
New analysis from Frost & Sullivan (conferencing.frost.com), Latin American Web Conferencing Services Market, finds that market earned revenues of over $10.6 million in 2008 and estimates this to reach $32.8 million in 2014.
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"Traditionally, audio conferencing solutions comprised the preferred collaboration method in Latin America, as the friendliness of the service and affordable connection rates presented a solution that also has a small learning curve for participants," says Frost & Sullivan Research Analyst Victor Hugo Casiano. "However, the integration of web collaboration with audio conferencing and desktop video is increasing and many vendors already have an integrated product or service suite that incorporates all these mediums through the use of Internet protocol (IP)."
The integration and its subsequent uptake is expected to be slower than in North America or Europe. This is mainly because the popularity of audio conferencing as an inexpensive solution to communication suggests that customers in Latin America perceive web conferencing as a relatively expensive add-on. Sustained marketing and awareness programs along with aggressive pricing, attractive schemes over the long term, and bundled audio and web packages should help in combating this challenge.
Continuously evolving product lines, changing vendor strategies, and the growing number of web conferencing offerings with price disparity also cause confusion in the minds of customers, thus lengthening sales cycles and slowing implementation of these services.
"Although the general climate in Latin America displays a sense of caution with regard to technology investments, web conferencing vendors can leverage the current economic situation, to highlight the value add of their solutions and gain awareness," notes Casiano. "Reduced travel and increased interest in low-cost collaborative tools is expected during 2009, opening up possibilities for the deeper penetration of web conferencing services in the region."
Latin American Web Conferencing Services Market is part of the Conferencing and Collaboration Growth Partnership Service program, which also includes research in the following markets: Latin America contact center solutions market, Latin America contact center outsourcing services market, Latin America enterprise telephony markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Latin American Web Conferencing Services Market / N519