Polycom (now known as Poly and a part of Plantronics) is an American multinational corporation that develops video, voice, and content collaboration and communication technology. The company has been focussing on a number of fast-growing markets in these industry segments for its medium to long term growth.
Polycom operates in markets such as 360-degree camera market (growing at 27.1% CAGR), Video Streaming Software market (18.5% CAGR), Hosted PBX market (14.9% CAGR), and High-speed Camera market (11% CAGR).
Apart from these, Polycom also operates in markets such as Managed Services Market (market size $225 Bn in 2020, growing at 7% CAGR), and Cloud Managed Services Market (market size $62 Bn in 2020, growing at 13% CAGR).
Polycom High-Growth Opportunities across Industry Segments
Top Hot bets for Polycom in Software & Services Industry –
Enterprise Collaboration Market - valued at $41.87 billion in 2020 globally, growing at 12.7% CAGR
Content Services Platform Market - valued at $33.46 billion in 2020 globally, growing at 21.7% CAGR
Video Streaming Software Market – valued at $6.32 billion in 2020 globally, growing at 18.5% CAGR
Cloud Managed Services Market - valued at $62.24 billion in 2020 globally, growing at 13.3% CAGR
Top Hot bets for Polycom in Information Security Industry –
Overall, these markets present a good opportunity for Polycom’s growth.
Potential Growth Opportunities for Polycom
The most promising adjacent market opportunities for Polycom to potentially exploit for long-term revenue growth are –
Transparent Caching Market with a global market opportunity of $0.88 Bn, growing at a CAGR of 37.28%
Managed Detection and Response market with a global market opportunity of $0.96 Bn, growing at a CAGR of 31.6%
Telecom Cloud Market with a global market opportunity of $16.33 Bn, growing at a CAGR of 21.4%
Video on Demand (VoD) market with a global market opportunity of $45.7 Bn, growing at a CAGR of 17.5%
Social Media Analytics Market with a global market opportunity of $2.56 Bn, growing at a CAGR of 24%
Managed Security Services Market with a global market opportunity of $20.02 Bn, growing at a CAGR of 13.9%
Security as a Service Market with a global market opportunity of $10.96 Bn, growing at CAGR of 13.8%
Video Surveillance Market with a global market opportunity of $ 39.01 Bn, growing at CAGR of 10%
Polycom Vs Cisco Systems INC.
Cisco is one of the major competitors of Polycom. Both the companies compete aggressively in markets such as Web Real-Time Communication Market, Firewall as a Service Market, Video Analytics Market, Video Streaming Software Market, Hosted PBX Market, Enterprise Collaboration Market, Cloud Managed Services Market, and Managed Services Market.
Polycom has also been focusing on several high-growth markets in which Cisco does not operate. These include 360-Degree Camera Market, Network Security Firewall Market, Video Management Software (VMS) Market, Content Services Platform Market, and High-Speed Camera Market.
Cisco has been investing in a number of high-growth markets, which can present potential medium to long-term growth opportunities for Polycom. These include LTE Advanced Pro Market ($39.37 Bn opportunity by 2025, growing at a whopping CAGR of 121.6%), Connected Enterprise Market ($1.1 Trillion opportunity by 2025, growing at a CAGR of 31.3%), Cloud Applications Market ($356 Bn market opportunity by 2025, growing at a CAGR of 15.9%), among others.
Strategies implemented by Polycom for growth in Hosted PBX Market
Polycom is a leading provider of hosted PBX solutions and caters its products to various verticals. The company makes enterprises more efficient, productive, and secure by providing fast and flexible responses to the rapidly changing competitive business environment.
Polycom offers comprehensive hosted VoIP solutions to its commercial clientele. It enables the SMEs and large enterprises to drive their business productivity and collaboration. The company possesses a significant breadth of offerings in the hosted VoIP arena and provides enhanced features and functionalities to its commercial customers. Moreover, the company has a customer-centric sales strategy that is focused on building and maintaining close working relationships with enterprises and public sector customers, directly or through partners.
The company focuses on building strong long-term relationships with its key clientele and emphasizes on building close partnerships with technology market leaders. This is evident by the fact, in 2017, Polycom partnered with EdgeWater Networks. This partnership helped Polycom combine the power of Polycom’s advanced UC endpoints with Edgewater Networks’ Intelligent Edges and cloud-based Service Control Center, to provide customers the full end-to-end visibility for proactively managing their environments and ensuring an optimal end-user experience.
Strategies implemented by Polycom for growth in Web Real-Time Communication Market
Polycom is one of the leading providers of video, voice, and content solutions to WebRTC customers. The key strategy of the company is to offer innovative human collaboration solutions with better customer experience.
The company is focused on organic growth strategies, such as new product development and enhancement, to offer innovative solutions that cater to the wide-ranging needs of customers. For instance, in September 2016, for large and small enterprises, the company launched the next generation Skype Room Systems solution.
Polycom also focuses on inorganic growth strategies, such as collaboration and partnership, to enhance its position in the WebRTC market. For instance, in March 2016, the company collaborated with Microsoft Corporation (U.S.) to deliver cloud-based video interoperability service built by Polycom and Microsoft, for any sized businesses. Concentrating on high performance and cost-effective solutions, the company partnered with key players, such as Alcatel-Lucent S.A. (France), to offer reliable and high-performance communication solutions. With its highly innovative and enhanced solutions, Polycom is one of the key players in the WebRTC market.