The entire globe is facing a major catastrophe in recent times, i.e., COVID-19. All the business sectors across the globe have been affected by it. And so in recent times, we have seen virtual conferencing technology having a tremendous impact on the workplaces across the globe.
This has been due to the fact that the majority of the global task force is working from home.
However, COVID-19 is not the only reason for the popularity of virtual conferencing. With time, as the remote work has grown, video conferencing tools have become more and more popular. Here are some statistics to prove this fact:
- Remote work grew by 159% between the years 2005 and 2017.
- An estimated 58% of businesses now utilize video conferencing for everyday operations.
The remote meeting trend has become more and more aggressive as time has passed by. Organizations across the globe have now started to see a major reduction in their travel time along with other costs associated with it. It is also a good way to ensure that people across the globe can be connected with the click of a simple button. Isn’t that amazing?
The best thing is, video conferencing provides a great value by enhancing your organization’s communication abilities.
Statistically Speaking About the Future of Virtual Conferencing
It has been estimated that the global conferencing market which reached $3.02 billion USD in the year 2018 will double itself by the year 2026 with an estimated projection of $6.37 billion USD. In other words, it would exhibit a compound annual growth rate of 9.8% during this period.
What Does This Mean Moving Forward?
With the kind of innovation that we are seeing in this particular industry, team collaboration and online meetings have only become better and easier to manage. As the digital ecosystem continues to evolve, it is time for the team leaders and IT managers to look forward with great anticipation towards a brighter future of video conferencing in the year 2020-21.
Coming Up....Big Virtual Conferencing Predictions for New Year, i.e., 2020-21
In the forthcoming sections of this blog, we will cover virtual conferencing predictions for the year 2020-21.
So, without further ado, let’s put on our Pandora’s hat and start predicting the future of virtual conferencing right away.
User Experience will be the Central Point of Focus for Conducting Video Meetings
We have already seen tools like FaceTime and WhatsApp becoming hot favorite video calling tools across the globe today. What makes them so popular? Let’s find that out for you. They are user-friendly. With the help of a single-click, you can get connected with people anywhere across the globe.
We are already seeing that central focus on the user experience is creating a massive impact on the professional world. Organizations across the world are moving towards secured video conferencing solutions that provide a class-apart user experience.
imagine the kind of effort that you need to put in while digging through the emails or using a team messaging app for a meeting ID. This can really make you frustrated. With the help of remote meetings, it is possible to not only be quick to prepare but also effortless to join. Can it get any better than this?
In a Nutshell,
In the next few months, we will see organizations moving towards these solutions that make video conferencing as easy to start off as a FaceTime call. It will also have a professional and feature-rich meeting setup.
This is where a browser-based video conferencing solution will allow users to join meetings with colleagues and customers with a single click. There will be no need to download and maintain apps. You would be able to carry out everything in browsers, so as users you can easily start the conversation.
Video Conferences will Support Live Video Editing
Till now we have witnessed only two worlds of video: recorded and live. The great thing about recorded videos is that they have amazing production value with unlimited effects. On the other hand, live video can either be in the form of an online meeting or a webinar.
However, both these forms come in a raw camera feed from a meeting or desktop camera.
Several companies have come up with a live video editing feature, which helps create post-production effects during a video call. These effects can range from changing backgrounds to advanced camera effects & tricks.
In the future, we will see more people utilizing these capabilities on every video call and webinar.
There are video conferencing software available in the market that offer features supporting green screen, virtual backgrounds, and are actively adding more.
In the near future, there will be less reliance on software as basic business video apps will support live video editing features.
Video Meetings will See More Integrations in Conjunction with Productivity Tools
It has been estimated that on average a business meeting runs online for about an hour. In case, this meeting time is not productive it can add up to the cost of an organization.
On top of the financial costs, ($37 billion in the US alone), a recent survey highlighted the fact that every poorly organized meeting can result in lost time, loss of focus, slow progress, confusion, and even weakened client/supplier relationships.
There are different non-technical ways for employers to boost the productivity of their meetings. This includes setting clear objectives and having an agenda.
In the near future, we will see video meeting solutions providing integrations with productivity tools. It will assist their users to do more in less time.
For example, look at features like video clipping, transcription, file sharing, translation, and integration with productivity apps. These features help users to quickly and effectively share knowledge and brainstorm ideas produced in video meetings into action.
Online Meetings will Get Shorter
Virtual meetings are trending, like crazy, nowadays. They typically last for as long as they are scheduled for…even when the whole time is not dedicated to tackling the topic in hand. Now, we all are aware of the fact that meetings are multidimensional and multi-purpose.
However, they are typically over-represented with passive participants and under-represented with key stakeholders. The fact is, if the online meetings were habitually attended by the right people at the right time, then it would become easier to make swifter decisions. It will simultaneously reduce follow-up meetings.
In a few months, we will start seeing more and more online meeting participants declining unnecessary meetings. The reason being, it would become easier to access meeting highlights and actions without actually attending it.
As a result, we will see less meeting FOMO (Fear of Missing Out) and more focused engagement in the meetings that would ensure effective use of everyone’s time.
Gamification will become a Part of Video Meetings
Gamification can be defined as a process wherein the meeting participants are encouraged to include game design elements like points, badges, rewards, and activities into a non-game context. It has been trending since the last few years.
In a few months, we will see more companies executing Gamification in their online video meetings. This will aid in boosting employee engagement and driving productivity.
Under the Gamification process, employers will divide their employees into small groups and then assign them a collaborative activity, virtually in a video meeting. It will be done with the help of the screen sharing feature.
They can even implement a system wherein employees can easily earn points for attending the meeting, or being the first one to check into the virtual meeting.
One final prediction that can safely be made is that virtual conferencing will continue to transform the global workforce. With time as the remote work grows more, we will see more online meetings which will make video communication a major focus of organizations, moving forward in the year 2021.
The only thing left to be done by your organization is to start adopting this trend and grow business to the pinnacle of success.