Online Business Video Communications Market to Grow in 2010

Business travel may still be struggling but that’s good news for the video market. Business spending on both video equipment and services grew at nearly 15% in 2009. According to an Interactive Media Strategies report, businesses shelled out over $531 million in this sector last year. Analysts are looking for even better growth rates, 24%, for online business video tools and services in 2010.  The industry could see total revenue of nearly $657 million this year.

Here’s how the spending in this sector breaks out:

  • On-premise video technologies: $379 million
  • Event services such as business Web casts: $118 million
  • Hosted software solutions: $100 million

In general, video is gaining more acceptance in the business world for a variety of applications. Writing for Interactive Media Strategies, research director and founder Steve Vonder Haar points to the following growth triggers for online business video applications:

  • Video is being woven into collaborative Web conferencing
  • Video is becoming part of communication assets for many businesses and is being distributed through an on-demand model

As businesses begin to increase their use of video for everything from education to special events, marketers should be advertising both hardware and software solutions.

[Source: Vonder Haar, Steve. Interactive Media Strategies. Business Video Market Expands, Unfazed by Recession. Interactive Media Strategies. 19 May 2010. Web. 1 Jun. 2010]
Kathy Crosett
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-owner of several small businesses in the health care services sector.