Web conferencing applications are gaining momentum in both the Internet and business worlds. According to CNET News.com, the Yankee Group reports that the market for conferencing services is expected to grow substantially this year to approximately $700 million. This is a jump from $480 million in 2003.

What is Web conferencing and why is it becoming so prevalent? Web conferencing is simply a term used to describe the interactions and communications that take place between individuals and/or companies via the Web. It is a cost-effective tool that allows users to cross geographic boundaries while circulating information almost instantaneously.

Although many assume that Web conferencing is used primarily for virtual meetings, there are generally three types of the technology--meeting, presentation, and collaboration.

Meeting: Two or more people conduct meetings using Web conferencing systems over the Internet. Very similar to an actual "meeting," participants can share documents, stream audio or video, engage in chats, or use voice-over IP.

Presentation: Attendees of a "presentation" may log into a Web conference and communicate with a moderator (who can also interact with participants and manage communication) via phone lines or web-based chat. Presenters have the opportunity to display information using various techniques such as audio/video streaming or slide shows.

Collaboration: This is a valuable technique to employ particularly for workers in remote geographic locations. This conferencing format makes it possible for teams to work simultaneously on one document in real-time.

There are Web conferencing products aplenty in the marketplace today. One should always consider the many factors involved before determining which one best suits his/her needs.