Video Conferencing Market is anticipated to surpass USD 45 billion by 2026, according to 360Quadrants analysis. The rising demand for Best video conferencing software is shaping the market growth. Quicker acceptance of cloud-based solutions and amalgamation of 3D technology have improved the quality of communication. Video conference solutions also offer immersive telepresence and real depiction of all members. It ensures real-time interactions of members in a conference room. In addition, the technology providers are also assimilating ground-breaking technologies, such as AR/VR, for spreading the capabilities of solutions.
Also, there has been a momentous rise in the practice of telepresence in the education and healthcare areas as it provides a realistic way of communication amongst the participants. In the healthcare segment, telepresence robots help in offering a virtual remote presence, allowing doctors to support their patients placed at a remote location.
Expansion of 5G technology that leverages VoIP technology is offering profitable chances for the companies in advanced economies. To take advantage of these occasions, market players such as Cisco and Microsoft are highlighting the development of video conferencing systems that mechanically direct call over the VoIP network.
Impact of Covid-19 on Video Conferencing Market
With the impact of the current COVID-19 pandemic and disruptions in large meetings, demand for remote training is growing, ultimately driving the demand for video conferencing solutions. Numerous global companies like Microsoft, Google, Apple, Amazon etc. have broadcasted compulsory work-from-home policies to stop the spread of COVID-19. The quickly growing cases of virus has demanded video conferencing software as the business travel, educational institutes, conferences are cancelled internationally.
Though the video conferencing market is growing owing to the outburst of COVID-19, this aspect in itself may also delay the market growth, mainly of the hardware constituent segment. Furthermore, governments of a few countries have instructed the service providers to decrease the video quality of these services. Since the lockdown, there has been growth in the usage of internet for work related activities as well as for streaming purposes. Several network operators have reported augmented straining on their networks owing the above-mentioned factors. This is likely to impact the acceptance of these systems.
Top 10 Upcoming Video Conferencing Products in 2020
The demand for video conferencing solutions has been growing rapidly as companies are choosing video conferences due to the current pandemic outbreak. Also, the usage of video conferencing solutions has spiked in 2020. For instance, Zoom has documented a rise in more active users so far this year as compared to that in 2019. 360Quadrants has analysed the Video conferencing market and has identified top 10 best upcoming products in the market based on various critical parameters. These top products have been highlighted below:
- BlueJeans Network
- Cisco Jabber
- Adobe Connect
Video Conferencing Software Issues and the Best Possible Resolutions
- User Issues
- When end users are not acquainted with the video conferencing tools, they usually encounter numerous issues throughout live online conferences. In some cases, users may even dodge using a communication system altogether due to newness.
- Taking time to get used to the systems.
- To ensure that end users learn everything about the system prior to using it
2. Integration Issues
- Employees currently depend on several devices, including smartphones, tablets, laptops and desktops, for routine use, including online video conferencing. If video conferencing doesn’t integrate with all the devices, end users may restrict it altogether.
- Best way is to check for its compatibility with the all the existing devices and any other supported applications
3. System and operational Issues
- If some system issues occur recurrently making it obligatory for end users to connect with IT for help, they might reject it from using regularly. These interruptions seriously decrease the noted benefits of video conferencing.
- Best way is to ensure that the video conferencing software is always updated on all devices.
- Latest software versions often remove known bugs that cause recurrent problems.
- Using a browser-based video conferencing solution, are always better since they’re automatically updated.
4. Security Issues
- Security is a major worry when it comes to all important communications within an organization.
- Video conferencing solutions are being used for text, audio and video interactions, as well as file sharing and application sharing. All these operations are highly complex, thus major security concerns are involved.
- Best way around this to check for all the security protocols used by the solution.
- Having a qualified team of security experts supervising the installation and following upgrades of the selected video conferencing solution.
Video Conferencing Software Market Recent Developments
- June 2020 – Tauria, a software encryption start-up firm based out of Waterloo, has introduced a new secure video conferencing tool and business suite. This aims to safeguard businesses’ private information by delivering end-to-end encryption.
- June 2020 – Google all set to introduce its video chat service Meet to Gmail on Android and iOs devices, which will allow people join meetings from their inbox.
- June 2020 – Zoom announced that it will allows all of its free users to activate end-to-end encryption of calls starting with a beta next month.
- June 2020 – BlueJeans by Verizon, an alternative top of the grade video conferencing and events platform, announced new features for fulfilling security, engagement, and time management to enhance the work from home (WFH) experience.
- May 2020 – Facebook and Instagram launched ‘Rooms’ to compete with Zoom for video conferencing.
- May 2020 – Zoom acquired Keybase to enhance its encryption capabilities as it plans to expand its end-to-end encryption to its free users.
- April 2020 – Verizon acquired BlueJeans