The major expense in establishing a video conferencing system is in the video technology, which requires a video camera, video display, and a fast data connection. Because of these requirements, video conferencing has been quite expensive until relatively recently when the prices have dropped on such items..
In recent years, IP (internet protocol) based video conferencing has emerged alongside traditional ISDN-based systems, although group video conferencing remains primarily ISDN-based. Internet video conferencing has the advantage that it is accessible to anyone with an internet connection and a webcam. In addition, it becomes possible to mesh together live video with web conferencing, allowing for a much more full multimedia environment for live meetings and presentations.
Video conferencing may be used in a situation where a physical meeting is unable to take place, whether it be cost of travel, or time. Video conferencing allows you to have that meeting or business interview without flying across the world. Video conferencing has also entered the homes of many across the world by way of webcam. A much simpler version it may be, but it is video conferencing none the less.