When the economic recession of 2008 took place organizations around the world started looking at reducing costs. One of the main areas to cut down costs was in business travel. Companies would spend a considerable amount in paying for air travel for their employees to attend meetings or conferences around the world. Following this, meetings were held online. This gave rise to audio conferencing services providers who were able to bring in a number of solutions for enterprises to capitalize on. For example, services such as hosting multiple individuals from around the world on a single call became a standard business offering. Service providers then started at looking at coupling multiple services for enterprises. Online collaboration services in conjunction with audio conferencing services was just one of the bundled products which service providers were offering.
The key differentiating factor for the service providers was the quality of services and more importantly calls that were hosted. Numerous service providers started upgrading their basic infrastructure in the APAC region to ensure that high speed bandwidth data was readily available for their customers in order to experience the full benefits of audio conferencing. The North American region on the other hand did not have to worry too much on infrastructure development. As a result of this, the revenue growth in the North America was quite low in comparison to the APAC region which presented a vast opportunity for vendors across the telecommunications value chain.
The market presents an opportunity for numerous companies across the value chain that need to work in sync with each other to ensure that there is seamless data transmission without any delay. The next stage in audio conferencing services is the ability to utilize the services from mobile devices, especially when a number of companies are going the BYOD way across the globe. The Audio conferencing services market
can be segmented on the basis of delivery models On-premise and Software as a Service. In terms of applications, the Audio Conferencing Services market has been segmented across the following Communications, BFSI, Government, Transporation, Utilities and resources, Others. The market has been segmented based on the following geographies North America, South America, APAC, Europe, Middle East and Africa.Following are just a few of the companies that are operating in the audio conferencing services market.
- Aastra Technologies