A couple of years ago, the rise of video technology in the conference room was praised by many of us. We witnessed the way it had drastically changed the way people communicated. The main advantages that we witness are the travel time is cut down and the other costs that are associated with it, while also protecting many organizations from some abrupt events. But above all, the video conferencing solution offered great deals by improving the communication capabilities of organizations.
It is soaring in popularity then and even now attaining a sky-high position in the business, which no one would have predicted.
Market growth of video conferencing:
According to Fortune Business Insights, the global video conferencing market reached a revenue of $3.02 billion in the year 2018. And right now, it is projected to reach $6.37 billion by the year 2026. Which would exhibit the annual growth rate of 9.8%. Due to the innovation level that this industry is experiencing, online meetings, team collaborations etc., are all becoming more comfortable to manage than ever before. By seeing the evolution of the digital ecosystem, we can now look into the aspects that IT managers and team leaders can look forward to.
Futurity of meetings:
For years, the time spent on ineffective meetings has been the burden of managerial existence. No individual has ever come up with a solution for these meetings. There were no meetings where the participants were staying on-topic, engaged, and also where every item of the agenda gets covered.
This can be, unfortunately, just interpreted as a waste of time and money. It has been proven by a 2019 Doodle report that, because of the poorly organized meetings, there are more than $399 billion wasted every year in the United States.
But as the video conferencing market is expanding, the companies and employees will demand better and sophisticated visuals. Due to these demands, high-quality screens such as micro-LED displays have emerged as a number one choice in the global workforce. They have also made way for the hardware and software vendors to partner with each other and to provide the organizations with “room” versions of their apps, which are also known as room apps.
Another technology, which will play a crucial role in video conferencing in future is Artificial Intelligence. It would be used as a facilitator in the meeting room. Tech experts are creating machine learning programs that will be helpful to transcribe audio, provide some knowledge about the engagement of the attendees and count participants. This will help people focus on the impactful pieces of the meeting.
Artificial intelligence will also cut out a lot of noise disturbances in the meetings. The machine learning algorithms will determine which speaker should be active and it will ensure that the other disruptions like car honking, or distant chatters during the meetings and that the voice of the speaker is fully heard.
These days, people do not have much patience to wait for buffering visuals, notification sounds going off, listening to muffled sound and buzz of office printers. Without clarified sound management, a video conferencing meeting is a failure. That’s why people have to keep in mind that their meeting rooms should have a clear plan. Ensuring good acoustics is another way of boosting the productivity of meetings.
Video conferencing: The communion
There’s no second thought that video conferencing will be the future and that it would even change the way people meet for work around the globe. The demand for video conferencing is correspondingly rising, as the employees are utilizing various functionalities with the inclusion of various tools like Microsoft Teams and Skype for Business, Cloud meeting apps like Zoom.
Users would experience everything in the workplace the same way they did at their homes. The employees have already got comfortable with the user-friendly and engaging interface, as they are easy to learn and adapt to. That’s why they would expect the same from their work. The point is proven by Logitech reports, which says over the last four years, video conferencing has increased by 800 per cent.
As far as we have seen, it was not about the remote workers or about the teams that are always on the go. So what about them? Again, according to Logitech, the report says that 70 per cent of employees work remotely at least once a week. So, organizations must have an alternative to the in-person meetings. Else, the collaboration efforts and essential communications to keep up with the workers or contractors will go in vain. Businesses or enterprises that regularly collaborate are those that will be affected because of inefficient communication.
So, they need to collaborate regularly with their partners, and they need a white-glove video conference for that.
To avoid these difficulties, as an entrepreneur, it’s right-time for you to come up with some fantastic Zoom Clone for business apps to gain maximum revenue
As a final thought,
Every industry needs such technological advancement, but it’s the corporate and IT industry that needs it most. So without delay, get into the action with your own video conferencing solution and become a tycoon in the industry.