The market is forecast to almost double by 2026, increasing up to 27.3 billion U.S. dollars. As this market advances, more video conferencing developers will find ways to incorporate it into their apps. 2. Worst of all, the price of a call was $1,000 per hour. The countries observed were the US, Canada, the UK, Germany, China, India, Japan, and Brazil. These statistics highlight the steady increase in video conferencing into what we now in the world of modern business. Regardless, Zoom is on track to make $4.4 billion in 2022, which means it could end the year with a 7% increase in annual revenue. Nowadays, a person uses video conferencing software for multiple purposesto catch up with a friend, take an online class, attend a party, have a work-related meeting, or even find a job. has skyrocketed during the past two years and the time we are spending in front of screens has almost doubled. Its been just over two months since, and Zoom is already trading at around $110 at the time of writing. Be that as it may, it seems that the visual aspect of meetings is seemingly here to stay. FaceTime is free for anyone with an iPhone, Zoom is free for the first 40 minutes (and then you can just call again), and there are also Skype, Facebook Messenger, and a bunch of other apps. Back in 2019, this figure barely reached 10 million. Some of them even claim its more productive. That said, Webex has done its best to reclaim its share of the market. A few decades ago, being able to call a friend and not only hear their voice but also see their face was nothing more than a dream. In 2020, Meet reached 100 million daily meeting participants, which represents a 300% growth compared to pre-pandemic levels. Video calling has come a long way in just a few years, not in small part because of the coronavirus. The closures and remote working have sped up digital communications by an average of six years across all industries, according to. Imagine how much development a company with 30 remote workers can achieve. More than 80% of the business professionals use video conferencing notified as a 1:1 ratio. Ineffective meetings result in about $399 billion loss annually (Digital in the Round, 2021). North America had the highest revenue share of over 39% in 2020 and dominated the market absolutely. Considering its productivity, more organizations will keep joining the train. The future of video conferencing looks bright78% of big companies say they use video calling software, and more (up to 83%) are planning on it, too. It's properly assembled Conference 10 since this level is restricted to 10 meeting participants. Process, Privacy Up to 98% of people reported having better relationships on and off work due to access to video calls. Video Conferencing Statistics: Usage and Trends 2022. 2022, Codeless, Inc. The video conferencing market size expanded rapidly starting in 2020, which led to increased revenues for the main players in the field. 35% of the businesses reduced half of their business travels average in a year. The global video conferencing revenue in 2028 is projected at $9.95 billion. Video conference statistics show another 75% of savings can be attributed to using cloud-based video instead of hardware. Admittedly, the solution was lacking in features compared to up-and-coming alternativescan you believe it didnt offer virtual backgrounds? 40% of the employees waste their 30 minutes searching for meeting space. Team meetings no longer have to be held in the office space. Zoom saw a 383% increase in its value since January 2020. & SERVICES, BUSINESS & According to some video conferencing statistics, it is possible that half of todays population think video conferencing originated during the lockdown. Almost 47% of video conference users have significantly reduced their business travel costs. 94% of businesses say that video conferencing gives more productivity. Up to 98% of people reported having better relationships on and off work due to access to video calls. Nearly 80% of employees participate in video conferences through their laptops or desktop computers (Medium, 2020). Video conferencing performs 30% better than audio-only setups for communication. Desktop Video Conferencing System: All the video conferencing hardware and software is built-in to a computer or laptop. The Covid-19 pandemic may have brought video conferencing software to the spotlight. Businesses, investors, and shareholders will pull their resources into it. Top 10 Facts About The Smartphone CPU Market Share, 15+ GoFundMe Statistics to Restore Your Faith in Humanity. Allow you to customize screen capture and frame rate. One of those who were hit the hardest is Zoom. According to UC Today, conferencing solutions has assisted organizations to save travel expenditures by roughly 30%, and 92% of B2B marketers employ such solutions in their core activities in the face of the COVID-19 pandemic. Codeless contains external affiliate links that may result in us receiving a commission if you choose to purchase mentioned product. 82% of video users are less likely to multitask (as compared to just audio) [Lifesize] 10. It's happening already. Dialpad, 2. And it hasnt proven false yet. 3. Now, its more than 80% down from its peak, with its market cap falling to a measly $30 billion. conferencing system in the ICT department. In 2021, the global video conferencing market was worth 14.6 billion U.S. dollars. Specifically, 80% of video conferencing is for individual meetings. Now, its more than 80% down from its peak, with its market cap falling to a measly $30 billion. FINANCES, BUSINESS & The lockdown was a blessing in disguise for these companies. Record your computer screen, microphone, and webcam simultaneously. Also, since remote work is growing, video conferencing is bound to grow. The rise of video conferencing apps led to increased demand for several related apps. It's pretty difficult to point out the best among these tools since their ratings are inconsistent. Fun fact: The video conferencing market will keep growing at a CAGR of over 10%, reaching $14.58 billion by 2029. When it comes to the end-user category, the corporate segment had the highest revenue share of 28%. Some 75% of employees are in fact completing other work tasks. Even though Zoom is still the leading platform, it appears that the video conferencing industry as a whole has mostly reached its limits for the time being. More than 51% of the employees take work from home on Video calls. 51% of the video collaborations are more relevant to their work than enterprise collaboration platforms. If more people decide to do more remote work in the future, that's a pointer to one thing. TechTarget, 4. This is not surprising at all. students to interact with organisations by looking at the use of ICT. All rights reserved, Video Conferencing Market Size and Growth Statistics. (Vox 2021) Before the pandemic, usage of video communication at work increased 48% between 2017-2019. Below we'll take a look at five types of video conferencing and collaboration equipment, assessing the circumstances where they provide the most benefit and, where applicable, comparing them to software or cloud-based alternatives. IDC recently reported that organisations are planning to increase spending on conferencing solutions by more than 20% . The connection we all craved so during the lockdowns was eased for many by the use of video calls. According to video conferencing use statistics, this type of communication is common for both one-on-one (80%) and team meetings (78%). This flexibility eliminates various time barriers, such as commute times or travel to and from conference rooms. In the meantime heres to hoping this method of remote communication gets more fun as gamification and AI enter the picture. This statistic is accurate because people are still working remotely two years after the lockdown. Video Conferencing Market was valued at USD 4.58 Billion in 2021, and it is expected to reach USD 9.06 Billion by 2029, exhibiting a CAGR of 8.9% during the forecast period (2022-2029) Videotelephony is the two-way or multipoint receiving and transmission of audio and video signals by persons in various places for real-time communication. Skype used to be the premier audio and video calling service a decade ago. This practice became popular when companies tried to recruit tech employees during the COVID-19 pandemic. Required fields are marked *. Moreover, 44.94% argued that any session that doesnt include presentations nor require screen sharing should be an audio call instead. Almost 9 in 10 employees say that video conferences lessen the time it takes to finish their tasks, leading to operational savings. Just a few decades ago, Compression Labs released CLI T1, a commercial group video conferencing system. The state of video conferencing 2022. The least use of video conferencing was for communication with clients. Policy, 17 Must-See Video Conferencing Statistics for 2022. But if you do want to see a previous years data you can find the pages in the 'View past results here . Yet a survey found that 82.9% of US employees see no reason why every meeting should be a virtual video call by default. Zoom had been in existence before 2020. In reality, its been around for decades. Apart from this, it was also the top free mobile application for iPhones. Check out the Video Conferencing Statistics and see video conference impact on Workforce. In 2021, video conferencing software dominated about 50% of the industry. Read more. It was arguably the COVID-19 pandemic that made Zoom a household name, and brought "zooming" into the cultural zeitgeist. About half of the respondents (50.2%) are sending messages, 19.5% are checking their social media, and 12.5% are reading the news. Google Meets market share doesnt quite compare to that of other leading platforms, but its not insignificant. Virtual conferencing has proven key to managing companies remotely and the advances in the industry have been miraculous. That said, analysts predicted theyd rebound by up to 65% over the 12 months that followand it appears that they may have been right. After all, if theres one key takeaway from all these video conferencing statistics, its that most companies use more than one platform. 79% of workers agree that video conferencing is as effective as physical meetings. About 80% of employees state that work-from-home arrangement, supported by video conferencing tools, has boosted their work satisfaction. After all, being a part of the revolution is a style common to the rich. In the meantime heres to hoping this method of remote communication gets more fun as gamification and AI enter the picture. The video conferencing market will get bigger in years to come. In a survey about business owners, about 30% of the respondents claimed they had never used video conferencing for their business. Regardless, Zoom is on track to make $4.4 billion in 2022, which means it could end the year with a 7% increase in annual revenue. Zooms Q1 2022 quarterly report revealed that the companys breakneck growth has finally subsided. 15% of the represents which use video conference daily for work are aged between 45 to 60. In 2021, the video call giant enjoyed a further 58% rise, reaching an annual revenue of $4.1 billion. Telepresence Video Conferencing System: Multiple screens or monitors are used to make everyone feel like they're joining the meeting in person. And while the recent tech-stock sell-off no doubt worries many of the companies behind popular web conferencing solutions, it should ultimately matter little to us. This made downloads easier and open to every user. This is what employees see as the most challenging meetings, according to virtual event statistics: The benefits of video conferencing are primarily in cutting the travel, venue, and staff costs for companies, which more than offsets any costs for high-quality video conferencing software. 2. With this, you should find the one that suits your needs. The video conferencing technology helps in transmitting the signals of video and audio, thus making it easier for the user to communicate in real-time. However, the benefits of remote working outweigh the losses, especially with the right video conferencing tools. . Ground: MCGDate: 24/04/2021Richmond: Goal: 6 | Behind: 12 | Total: 48Melbourne: Goal: 12 | Behind: 10 | Total: 82Dustin Martin Statistics:Kicks: 4Marks: 0Han. Some 77% of users utilize teleconferences for large group meetings, while 62% do the same to communicate with partners and customers. And the most remarkable growth was in Italy, where it recorded 55 times more downloads. This is the Communication Platform as a Service Market (CPaaS). For starters, 37% of US employees have never done a video call at work. Introducing video meetings with business improves 50% more productivity. Organizations began to employ video conferencing tools to reach out to their employees within the state. Thats half their workload! If you didnt know before, the video conferencing market is only a fraction of a much bigger market. Every day, an average of 3 million users sign up on Google Meet. In a survey carried out during the lockdown in 2020, 70% of the respondents preferred remote work. Benefits of Video Conferencing Software Statistics, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Pinterest (Opens in new window). With the variety of video conferencing tools present today, there are several tools to choose from. You had to travel down there to close a sale with someone or an organization in other countries. General Zoom and Video Conferencing Statistics 1. Fun fact: Although people in 41 countries prefer Teams, Zoom wins the battle, being the favorite video conferencing solution in 44 nations. At the time, many organizations had discovered there were advanced video tools that could aid their remote work. But two of them decided late last year to cooperate instead of fight. You do need a decent internet connection, though. If you remember, March 2020 was the highlight of the pandemic. 9 out of 10 people are in a daydream while the conference is going on. The number of Zoom meeting participants has increased 20-fold. Bloomberg, 9. The latters rise has been mainly at the cost of Webexs decline, which has plummeted from 24% to 13% since 2019. From this statistic, its obvious the practice of using video conferencing for interviews has come to stay. show. 50% of the US workforce will consist of Millennials by 2020. As a matter of fact, we expect it to keep growing in the foreseeable future. Zoom, 6. Why We Picked It. Further, the study also caters and provides in-depth statistics about the crucial elements of Video Conferencing which includes drivers . The Potential of AI-Powered Video Marketing. doesnt quite compare to that of other leading platforms, but its not insignificant. isnt the same for everyone. Video Conferencing 18 video conferencing statistics for 2021 Webex Team Remote work is on the rise. More companies in North America later followed their steps, and more are still adopting these tools. Zoom wasnt the only video conferencing platform that benefited from the lockdown. In the first year of lockdowns, Zoom generated $2.65 billiona fourfold boost compared to 2019. Video conferencing capabilities enable employees to work remotely -- whether from home, a coffee shop, a library or another location other than the office. Weve heard it right from the horses mouth. They were also able to experience first-hand the benefits of remote work. Huddersfield New College is considering installing a video. Although this was not easy considering their size, it saved them from significant losses. One:Quick Works supports a variety of video conferencing and collaboration apps to give users more ways to make the most of their meetings. It not only had, , but it also had no less than eight million. Web conferences are a great way to make your business more mobile-friendly and adaptability. Continuous growth can be seen in every quarter since the beginning of data collecting in 2017. 89% of users say that video conferences help them feel connected. Theres no doubt free video conferencing is immensely widespread in the post-pandemic world. Video conferencing usage will increase. This is why the country contributes an enormous 39% of the industry. Creating Local Server From Public Address Professional Gaming Can Build Career CSS Properties You Should Know The Psychology Price How Design for Printing Key Expect Future. Before the emergence of video conferencing tools, doing business was hard. All in all, the average office employee spends 31 hours a month attending meetings in one format or another. Laptops, cell phones, and computers with high-end cameras, microphones, and speakers contribute to video conferencing expansion. Well, this could change if tech companies elsewhere make a ground-breaking impact. The Verge, 16. After this giant tech company cut down its office space costs, it saves $12 million more. Employees expressed their love for remote work in a survey during the 2020 COVID 19 lockdown. 32 Best No Code Tools 2023 (App Development and Automation), 9 Best Cheap Dedicated Servers for 2023 (Compared). The projected value of the worldwide video conferencing market in 2021 was $6.03 billion Zoom is the #1 video meeting app for teams General Video Conferencing Statistics 2023 Video conferencing has improved communication for up to 99% of people. How Can You Benefit From These Video Conferencing Statistics? 2020 kicked off a dramatically increased need for video conferencing across all industries and businesses large and small. Statistics from Trust Radius show that 67% of organizations claimed they would invest more in video conferencing in 2021. This report is the only place you'll get 8 years of video marketing statistics trend data. 63% of the expected video impact will work on augmented reality and virtual reality. The time spent in meetings isnt the same for everyone. Many even attested to having never tried it out until then. Sill many types of meetings number more than 10, video conferencing usage statistics show. While this is different from what Global Market Insights predicts, they both point to one thing. Admittedly, the solution was lacking in features compared to up-and-coming alternativescan you believe it didnt offer virtual backgrounds? 24 April 2021 / blog.webex.com / 4 min read 18 video conferencing statistics for 2021. From 2015-2018 live video chat usage with businesses and brands grew by 233%. The projected value of the worldwide video conferencing market in 2021 was $6.03 billion . Check out our report on Video and Web Conferencing Software Statistics for 2022. American companies held 220 million video meetings in a year. Even though many have now returned to the office, its unlikely that online video calls will lose much popularitytheyre simply too convenient. Cisco was the leading vendor for video conferencing equipment worldwide in the second quarter of 2020. Zoom, one of the most popular of the videoconferencing platforms, increased thirtyfold as the use of its service from December 2019 to March 2020 jumped from 10 million daily users to 300 million daily users [ 3, 4 ]. 22% say the most significant benefit for them is not having to commute. As a result, the major market players are focusing on developing offerings that can cater to the needs of multinational enterprises. Over 55% of the business anticipates that it shows an equal impact on automation and robotics. How to Add a Featured Post to WordPress Website? Ever since the beginning of the 2020 lockdown, Google Meet has been growing. From the cloud and AI all the way to the increasing popularity of e-learning platforms like Thinkific or AmazingTalker. The North American video conferencing market held a revenue share of approximately 39.0% in 2021 due to the higher adoption rate in the region. 54% of corporate meetings were held virtually in 2020. 17 Sep 2021. The only reason organizations used it then was to communicate with clients or employees that were far away. Furthermore, Microsoft revealed in January 2022 that Teams had 270 million monthly active users, though the tech giant provided no further updates to the other figures. 47% of business travels decreased due to video conferencing. This website uses cookies to improve your experience. Losing one or two will hardly be fatalplus, were sure more will crop up right away, hopefully having learned from their predecessors mistakes. Apple, Microsoft, and META are only a few of the giant tech corporations in the country. And it kept them using the video conferencing software. The usage of video conferencing has skyrocketed during the past two years and the time we are spending in front of screens has almost doubled. Google Meet and Cisco Webex are now interoperable, meaning you can use either platform on either companys hardware. Desktop conferencing endpoints According to Owl Labs, Skype is the second best. Its clear now that a huge number of jobs are transferable online. You must have been wondering how well the Tech giant performed. 51% of businesses think that video conferencing is an innovative idea. Meeting participants can use LG's preinstalled One:Quick Remote Meeting application or install Webex, Zoom and Teams using the shortcuts conveniently located on the onscreen launcher. (, One in three employees think they have too many online meetings (, North America had the highest revenue share of over 39% in 2020 and dominated the market absolutely. The Video Conferencing Equipment market research report provides in-depth information about the data analyzed and interpreted during the course of this research by using the figures, graphs, pie charts, tables and bar graphs. The optimal number of attendees is 10 and anything higher than that increases virtual fatigue. Video conferencing is sure better than traveling miles through traffic to work. You can do almost anything from almost anywhere in the world. Video conferencing has become a core facet of the year 2020, enabling organizations to communicate, family and friends to stay connected, and even for medical practitioners to assess their patients. , as one person can join multiple meetings in a single day. According to the Wired UK, Zoom Video Communications, Inc. had around 2.22 million active monthly users in 2020. About 31% have also said theyd want it to stay that way even after the lockdown was eased. Video conferencing statistics also show that video conferencing has become an essential part of any workplace, remote working or on-site, with many companies reporting better communication, increased productivity, and shorter turnover times among teams . What started back in 2020 as a needs must solution was quickly embraced to become sully set on an unstoppable growth path. 31 to 60 minutes are notified as average meeting length. The sharp rise in remote work is reflected in video conferencing statistics for 2021, which revealed that 55% of companies permitted their employees to work remotely, and 30% of employees were working remotely full-time. 89% of the representative said that video conferences reduce time to complete projects. This competition will bring about an advancement in the video conferencing market. 47% of them saw some reduction in travel costs due to video conferencing. This statistic by Dell supports the one above. Everyone began to look up to the online space for saving. Now here we are in 2022, and there's no doubt that video conferencing is here to stay. Although remote working has always been a thing, nobody considered it would ever take over on-site jobs. And by 2025, remote work will have taken over the entire workspace. The 2020 boom saw 129 million Zoom downloads in Q2 2020 for Asia-Pacific, 113 million for the Americas, and finally, almost 89 million for Europe, the Middle East, and Africa combined. We are involved in Video Marketing, in that, we determine which videos are to the point and can be established and suggest ways to produce them in a manner that is appealing and engaging to the target audience thereby generating a positive impact. American businesses use over 11 million meetings in a day. All in all, each of us generates. However, sometimes video calls may harm the conference quality, and it will be impossible . STAT #14 90% of respondents say video makes it easier to get their point across STAT #15 89% of respondents agree that video conferencing reduces time to complete projects or tasks STAT #16. at the moment, and they most certainly are competitors. The market isnt doing too great at the momentat least in terms of stock prices. It has become an integral part of everyday business. It remains to be seen whether itll reach the $143.30 forecast by the end of this year or the beginning of the next. You may think its a relatively recent invention, but it isnt. During the same year, the company gained 634 large enterprise clients. ( Source) That said, its worth noting that Google has made and discontinued a myriad of similar platforms over the years, including Google+ Messenger, Google Allo, Google Spaces, Google Talks, and Google Voice, some of which were later incorporated into Google Hangoutsuntil the giant discontinued Hangouts in 2021, too. After the pandemic, many business owners have reported using video conferencing to monitor their employees worldwide. This is all thanks to video conferencing tools. Fun fact: 82% of all consumer internet traffic is actually people watching videosYouTube, Tiktok, streaming, you name it. The rise in remote work led to an increase of screen time, by one estimate up to 40% of an individual's waking hours. In short, video conferencing is not going anywhere. Required fields are marked *. 54 Basic Video and Web Conferencing Statistics: 2021/2022 Analysis of Data & Market Share A new version of this article, featuring the latest data and statistics is available. With the emergence of newer and more advanced video conferencing tools, work has become more accessible. Microsoft Teams, the video conferencing app by Microsoft, also saw an increase in its users. All Right Reserved. Video conferencing statistics are clear, the surge caused by the pandemic is slowing down but is unlikely to completely stop. Video conferencing, also known as web conferencing, is a way for people in your organization to communicate through a video-supported platform on a computer, smart device, or telecollaboration tool. Analysts expect the market to grow to an estimated $9.7 billion in 2022. Only a small percentage of the world knew about its potential. Some video conferencing services have begun integrating AR and VR features to boost further the appeal of, After all, if theres one key takeaway from all these. Video Conferencing. The next in line was to purchase enterprise mobile apps for the smooth running of the whole process. By 2022, Over 40% of the meetings are facilitated by the Virtual function and advanced analytics. Its when you waste half an hour trying to connect to an online meeting only to realize theres a problem with your microphone or cameraor both. The following year, the numbers are half of that, looking at the Q1 results across all regions according to Zoom statistics. Tools and software to aid it will also rise in demand. Be that as it may, it seems that the visual aspect of meetings is seemingly here to stay. Contrary to what many may think, video conferencing usage stats show during meetings employees dont multitask so much doing something fun. What is the outlook for the industry? In 2020 alone, it saw a 14 times increase in its American users. The ARVR market is expected to be worth $72.8 billion by 2024. However, the history of video conferencing dates as far back as the 1930s. Statistics from Upwork predicts that 36.2 million Americans will be working remotely by 2025. Why is Korean Content in High Demand for Video Email Marketing: Effective Ways to Up Your Video Email Marketing Game, Video Ad Fraud: Everything You Need to Know, Advanced Ways to Promote Your YouTube Channel and Videos, Top 10 Best Ways to Watch French Movies Online For Free, Top 10 Best Ways to Watch German Movies Online For Free. 2. Your email address will not be published. Meeting Preferences In 2021 Survey results show that 29% of participants prefer Tuesday as the favorite meeting day, while 25% prefer Wednesday. Continuous growth can be seen in every quarter since the beginning of data collecting in 2017. Before the pandemic, the number of remote workers was 87% lower than it is now. . Quick decision meetings can also be held comfortably during weekends. Zoom reported annual revenue of $4.1 billion in 2021. began in the early 20th century when AT&T and Bell Labs came up with various devices capable of transmitting not only audio but video, too. (Grand View Research) Some video conferencing apps now have augmented reality options. Not only was it enormous (it took up a whole room), but it also cost a quarter of a million dollars to install. The way people meet and work has changed tremendously. With enhanced internet-connected performance, you can benefit from UHD 4K video conferencing that is supported by online and desktop software. Save my name, email, and website in this browser for the next time I comment. Weekly Freebies and special offers, *More than 30,000 clients around the world trusted our work :). Now companies can meet, conclude deals, and finish contracts using video conferencing. . And within the first two months, the market increased by 500%. This prediction has been made since 2020. Sill many types of meetings number more than 10, show. However, the narrative changed in 2020, when the world got hit by the deadly COVID 19 pandemic. (, North America has the highest video conferencing revenue share with over 39%. 90% of North American businesses are likely to spend more on video conferencing in 2022. There'll be more downloads, and developers will strive to always be at the top of their game. At the start of the pandemic, external hiring of new employees fell by 82%. Whats behind this boost? Its popularity did not end with the lockdown. The forecast for 2028 says the revenue is expected to reach $9.95 billion. 69% of people expect that video communication is more equally and important as voice-based assistance. Other activities people report doing during meetings include: Virtual fatigue has emerged as the new undeniable phenomenon as most workers list that as the number one challenge, according to video conferencing statistics during coronavirus. 78% of businesses use to facilitate team meetings. The countries observed were the US, Canada, the UK, Germany, China, India, Japan, and Brazil. It would have been very difficult or impossible for any organization to work remotely without these tools. Some 75% of employees are in fact completing other work tasks. (, Up to 90% of employees multitask during meetings. Compared to traditional video conferencing equipment, cloud-based services can cover a wider variety of people. Skype had 40 million daily users at the peak of the pandemic. Video conferencing solutions continue to gain in popularity across businesses as remote work patterns and new customer expectations necessitate visual forms of digital communication. This statistic is not surprising as some of the world's giant organizations are in North America. The subsequent use is for team meetings. It is one of the best ways to save time and money. While they are really easy to create, you often need a little extra to Is affiliate marketing a pyramid scheme? Get more information on this report Download Sample Report. market size (value and volume 2017-2021, and forecast to 2030) that admires each country concerned in the competitive marketplace. 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