Did you attend any virtual event or an online webinar back a year before? I’m sure you have gone through it all past year more than ever before. All credit belongs to video conferencing platforms – software which overcame the hurdle of distance and brought people together in the most difficult times. Here are some highlighting factors which are a reason for a boom in virtual meeting tools.
1. A BOON FOR BUSINESSES
In order to control the spread of Covid-19, businesses had to transform their method of working and communicating. Meetings, events, and traveling had to be postponed or canceled. This led to the advent of video calling platforms like Zoom, Cisco Webex, and Skype to name a few. This alternative helped companies to maintain good relationships with their clients and accommodate customer needs. The degree of implementation and usage of this software skyrocketed during the first few months of the coronavirus pandemic when many companies were ordered to cease their business operations indefinitely. Features like screen sharing and collaborative document editing added to the advantages of video meeting apps. Employee interviews and training webinars were major activities conducted gradually saving out on company expenditures. Video conferencing literally made the transition from office-to-home easy because of its affordability and accessibility.
2. EDUCATION TRANSFORMED
Educational institutes at all levels moved online as per the guidance of administration, thus educators who beforehand just instructed face to face in classrooms currently wind up looking for approaches to make their talks and exercises grab the attention of students. Whether it comes to lectures or presentations or even examinations, everything was made possible through virtual meets. Students and their Teachers connected from their homes and shared content in real-time. Yet another benefit of video conferencing is recording the lecture or lessons to use it in the future. This feature proved to be an excellent trait to enhance student performance. Video conferencing might be utilized to get visitor speakers and other topic specialists. Regardless of whether a specialist is actually situated in a similar town or is most of the way across the globe, video conferencing can carry everybody to the equivalent (virtual) table.
Sectors of healthcare, law, and administration also upgraded themselves with digital pathways to continue their regular functioning. Hospitals are clearly crucial to patients, so it is fundamental for emergency clinics or other healthcare establishments to redesign their clinical gear with new innovations, for example, video conferencing. A London clinic has used a video conferencing framework which makes it workable for clinical experts to make a far off finding of genuine sickness from patients in various areas. Video conferencing in medical care consequently breaks the space obstructions and gives more comfort to patients around the planet. Video conferencing is also used in courts for judicial hearings and criminal trials. Apart from these, major events such as the inauguration of infrastructural developments are carried out virtually.
4. HIGH REVENUE GENERATORS
The Video Conferencing Market size surpassed USD 14 billion in 2019 and is anticipated to grow at over 19% CAGR between 2020 and 2026. Technologies such as IoT, AI, and VR are expected to contribute to this growth. Let us look at the revenue generated by Zoom – USD 777.2 million for the end of October 2020, which is a whopping 367 percent year-over-year, as global demand for online meeting solutions. The combination of VR into video conferencing has given an inventive answer for leading occasions in 3D, empowering an exceptionally intelligent and drawing in experience for clients. The rise of AI-empowered arrangements has helped in improving the nature of video and upgrading the conferencing experience for the two organizations and the labor force.
This field is continuously developing with new features coming in as per user requirements. Undoubtedly, video meetings are the future, every sector has comprehended its advantages and skilled themselves to use these platforms.