Frost & Sullivan has recognized Pexip as the Entrepreneurial Company of the Year in the global business video conferencing market. This article aims to highlight Pexip’s key accomplishments.
Business Video Conferencing Adoption is Increasing
There are many dynamics compel organizations of all sizes, industries, and geographic regions to pursue solutions that enable them to become more agile in response to opportunities and challenges. Media-rich conferencing services are increasingly perceived as a leading technology for addressing the globalization and accelerated speed of business, as well as rapidly shifting customer demands.
A 2019 global Frost & Sullivan survey of 1,067 IT decision-makers found that the adoption of various video conferencing solutions is rapidly growing:
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- 68% of respondents currently use desktop web and video conferencing solutions and 28% expect to invest in these technologies in the next two years
- 71% have adopted conference room-based video conferencing and 25% expect to adopt this in the next two years
- 57% have implemented huddle room-based video conferencing and 37% will invest in this by 2022
Customer deployment and consumption preferences are also evolving. Many end-user organizations are using cloud services-based video conferencing to avoid a large upfront investment and the ongoing maintenance costs required in CAPEX scenarios. On the other hand, certain organizations prefer or require more control over security and regulatory compliance, as well as customization capabilities offered by dedicated cloud or premises-based deployments. Pexip satisfies all of these requirements and enables hybrid deployments in which cloud and premises-based components are integrated into a single solution.
Acknowledging Pexip as a Leader
Because flexibility and innovation are critical for provider success, Pexip has become a competitor to emulate in the intensely competitive and fast-growing business video conferencing market. Pexip is on a strong growth path and regularly demonstrates a deep understanding of both current and emerging customer requirements, creating strong market differentiators.
Innovation
Pexip has exemplified cutting-edge innovation since its inception. With the deployment and consumption flexibility of its solutions, Pexip is virtually unmatched in the enterprise video conferencing market.
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- Pexip was founded to address the market gaps created by closed platforms and a general inability of providers to support multiple protocols (e.g., H.323, SIP, H.264, and H.265) in a single solution. Multi-protocol support allows customers and service providers to extend the life and value of existing investments in end points and infrastructure (e.g., MCUs) as they advance their capabilities with Pexip technology.
- Pexip was among the first providers to support WebRTC, enabling licensed users and guests to join video conference sessions with robust feature functionality and without the need to download a desktop or mobile client.
- The silos of discrete video conferencing services have been broken by Pexip’s cloud-based video conferencing interoperability. This allows users of disparate platforms to join meetings together, thus expanding the potential utilization of customer investments.
- Artificial intelligence (AI) is growing in prominence within the collaboration industry as more business leaders recognize its ability to enhance meeting effectiveness and experiences. Pexip has answered the call with Adaptive Composition—an application that leverages facial detection to automate camera framing of meeting participants to ensure a better user experience.
Growth
Pexip operates by developing a clear vision of its customers’ desired outcomes, providing products that help them achieve those outcomes, and identifying where experiential gaps exist. Unlike the vast majority of its competitors, Pexip acts to address the distinct needs of different customer segments. With its right-fit options for different market segments, Pexip is experiencing strong growth.
Customers and partners demand high levels of stability, innovation, and performance from their mission-critical communications technology providers. Pexip continues to be exemplary in all three of these facets and it is winning in terms of market share.
Frost & Sullivan research shows that together, Pexip and Videxio (which merged in early 2019) had a 2018 growth of 22.4%, greatly outperforming the overall global video conferencing services market growth of 11.4%.
Customer Satisfaction
Pexip’s portfolio and performance has earned the business of various global end-user organizations—these include small to medium businesses (SMBs), global enterprises, government agencies, healthcare, high tech, financial services, media companies, and more.
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- 15% of Global Fortune 500 companies use Pexip technology
- 3,500 customers and users in 190 countries have adopted Pexip solutions
- 99% of Pexip customers renew their business with the company
The company’s roster is comprised of many well-known brands, including Accenture, General Mills, Intel, Kayak, PayPal, Spotify, and Vodafone.
In particular, one customer reference is an excellent example of Pexip’s ability to deliver high-quality experiences in challenging regulated industries and use cases. The US Department of Veterans Affairs (VA) deployed Pexip to facilitate telehealth programs that give VA healthcare providers the ability to remotely deliver diagnoses and managed care for military veterans throughout the United States. In February 2019, the VA announced that it had achieved over 1 million telehealth visits in one year—a 19% increase year-over-year. This included both real-time interactions and non-real time use, such as the evaluation of data and images. From October 2017 through September 2018, the VA administered 2.3 million telehealth sessions by way of Pexip technology. Such innovative and pragmatic use cases are what the business video conferencing industry strives for.
Summary
Making customers happy is the cornerstone of any successful long-term innovation or growth strategy. Pexip has disrupted the market by not only delivering what customers and partners ask for, but by continuing to do so at a consistent pace. To keep up, other providers must up their game for the benefit of customers and their users. With Pexip pushing the envelope, the business video conferencing market is more dynamic and exciting than it has ever been.
