SAN ANTONIO – A new analysis by the market research firm Verify Markets shows the burgeoning health care videoconferencing market in the U.S. was valued at more than $240 million in 2015 and is expected to reach revenues in excess of $1.1 billion by 2022.
Rising costs along with increasing demand for prompt and accessible health care services have led to the growing interest in videoconferencing technology with health care organizations and patients embracing the technology, the firm said.
Key factors driving growth of the market include the flexibility and scalability offered by cloud based videoconferencing services, enabling health care providers to integrate video capabilities into their existing workflows.
The market is largely dominated by hardware based video conferencing but cloud based solutions are emerging as an alternative, Verify Markets said.
Some of the key players covered in the report include Cisco System, Inc., Polycom, Inc., Vidyo, Inc., Lifesize, Inc., Blue Jeans Network, Inc., Zoom Video Communication, Inc., VSee Lab, LLC and Avaya, Inc.
A copy of the report is available at www.verifymarkets.com.