Teleconferencing--a technology which the American Library Association has already tried on several occasions—is growing at a rate of only 5 percent a year according to industry sources—a very low figure for a “leading-edge” technology. Teleconferencing—which involves the combination of two—way television with telephone, telex and facsimile to support meetings in which the participants are scattered--was a market of less than $75 million in 1983. Only one in 20 Fortune 500 companies are using it. Several factors appear to have affected the growth of the industry: the cost is high ($500,000 to build a single room or $1,000 an hour to rent a facility), some people like to travel and don't want that taken away from them, people need to be able to communicate through handshakes and direct physical contact, the vendors don't appear to understand the needs of users very well, and there is a lack of standards—-there are at least three incompatible systems.
https://librarytechnology.org/document/7272/