Webinar Wire

More Big Growth For Web Conferencing

Posted by Ken Molay October 30 2008 11:49 PM EST

1 comment

Gartner put out a press release today looking at total market revenues and growth predictions for 2008 in the area of "Web Conference and Team Collaboration Software." It should put a smile on the face of vendors in this space. Some highlights include:

• Projected worldwide revenues of $2 billion for 2008
• 22% growth over 2007 revenues
• Fifth consecutive year with annual growth exceeding 20%

They also break down projections for revenues and growth in Western Europe, Eastern Europe, Middle East/Africa. In total, EMEA should account for about $500 million of the global $2 billion. It's no surprise that Western Europe has the overwhelming majority of revenue ($450 million). But Eastern Europe is projected to grow its revenues by more than 55%! Africa is also moving up fast, with a projected 45% growth rate.

I have not heard of any vendors rushing to open sales offices in Eastern Europe or Africa. This may be the time to get in on the ground floor and establish an identity as the trusted company in that region.

There is a paragraph in the report talking about cultural expectations for doing business. Gartner says that Latin America, Middle East, and Africa tend to rely on email for business communications, while APAC cultures (especially Japan) prefer face to face meetings. That may be true for making direct business deals, but I work with clients giving global webinars and I can tell you that workers in China, Korea, Japan, and other Asian countries are willing and eager to participate in webcast events.

If you had to pick an industry to be in during these unsettled and unsettling times, web conferencing would be a pretty nice choice!