Technology has played a crucial role in the development of creative solutions to the demands of remote work. Trends in video conferencing software amply demonstrate this idea.
Additionally, we’ll discuss emerging developments in video technology in this essay. Additionally, you will discover more about the effective video conferencing programs that we frequently develop quickly, such as Parta, Events10x, HIPAA Telmed, and PractiCall.
Let’s investigate the next developments in video conferencing technologies for 2023.
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Video Conferencing Market Analysis & Overview
Global Market Insights estimates that the video conferencing market will reach $25 billion in 2022 and will grow at a 10% CAGR from 2023 to 2032. Next year, this number could be altered. Why? Because remote employment is here to stay.
As a result, both the demand and supply for video conferencing applications will rise. Making precise forecasts is difficult in our unstable environment. Therefore, if you wish to face a video conferencing adoption, you must be prepared.
Let’s examine the key actors. We can identify the following businesses in the present global video conferencing industry, which together account for slightly more than half of the market:
- Zoom Video Communication Inc.
- Cisco Systems Inc.
- Microsoft Corporation
- Google Inc.
- Adobe Systems Inc.
- ZTE Corporation
- Huawei Technologies Co.
Speaking about sectors that use video conferencing technology, the business sector holds a 28% market share. Other end users include:
Most likely, you want to develop an application that lives up to the demands of your users. We also wish to support you. So, in the next sections of this essay, we’ll talk about the tendencies.
Video Conferencing Market Insights & Remote Work Impact
Due to limitations put in place by regional governments, the pandemic accelerated the expansion of the video conferencing sector. Most people have had issues similar to these:
- Offices and educational institutions closing
- Travel restrictions between cities, within nations, and between nations
- restrictions on entering public spaces, including retail malls, theaters, and sporting events
As a result, businesses started looking for chances to adjust to difficult circumstances in order to achieve the required financial outcomes. Apps for video conferencing have begun to be used for business meetings and partner negotiations. This innovation allowed businesses to reduce their office renting expenses.
Emerging Video Conferencing Technology Trends in 2023
Decision-makers have been compelled to reconsider how they may employ teleconference technology as a result of the pervasive move to remote work. Here are a few recent corporate communication developments using video conferencing technologies that present the potential for creating fresh applications.
1. Enhanced Business Communication
- There were accessible commercial video conferencing options like Google Meet and Zoom as band-aid solutions to keep corporate communication going. These generic apps are being replaced by more sophisticated and secure ones created for particular target markets.
- Business consumers desire applications that are as user-friendly as FaceTime and include the features required by a business audience.
- By lowering travel expenses and consolidating office space in favor of a remote workforce, businesses may realize significant cost savings.
- New video conferencing systems must have enhanced video and must include virtual meetings with productivity tools. The Bluejeans platform is one such instance.
- Collaborative technologies are necessary for the remote workforce to securely replace in-person sessions. They must not place any technical barriers in the way of the free flow of ideas.
2. Healthcare
- Even when the epidemic is contained, the area of telehealth will keep expanding. People who live in distant places or who find it difficult to travel have improved healthcare options because to contact-free interactions between patients and providers. Our app Medrealtime is one such tool that links patients and physicians.
- Patients find telehealth appealing since meetings using video conferencing cut down on waiting times and transportation expenses. Due to the industry’s use of virtual solutions, insurance companies now cover medical visit charges via video conferencing.
- Apps for video conferencing created for the healthcare sector must adhere to strict security standards to safeguard the private data shared between patients and providers.
- The adoption of virtual solutions in healthcare will be influenced by ease of use, which is a key feature. For the app to be widely used, it must be convenient for both patients and professionals.
3. Society at Large
- Video conferencing technology is essential to apps that let people communicate easily with friends online. Apps that enable free-form interaction with numerous users viewing and transmitting video feeds concurrently are in vogue. In our social networking app for Parta, we adopted this trend.
- Presently, organizations are bestowed with the prospect of showcasing their endeavors to novel and expansive audiences through the provision of virtual tours encompassing esteemed cultural establishments, including museums. Moreover, software developers are poised to reap substantial benefits from applications that enable individuals to explore the world’s premier attractions from the comfort of their own homes.
- The ongoing advancements in video conferencing are set to exert a lasting influence on consumer behavior and preferences. Users can now avail themselves of specialized applications that facilitate guided decision-making processes for a range of purchases, including furniture, automobiles, and real estate.
4. Cloud-Based Communication
- Since you don’t need to use the infrastructure or equipment, cloud communication can dramatically save your IT expenditures.
- Both users and IT pros find cloud services to be more practical and straightforward. The developer may automatically maintain and update them. Companies simply need to pay subscription costs (free applications like GoToMeeting are also available).
- Your staff will have a lot less trouble understanding cloud communication. Furthermore, there may be a large global user base for this technology that can assist you with any questions that could come up.
5. The Growth of 5G
- For mobile users, this technology can boost performance and cut down on latency. Quality of the video and audio will be of utmost importance when individuals communicate remotely.
- More Internet of Things (IoT) gadgets will be able to communicate with one another constantly thanks to 5G. For instance, consumers will utilize more sophisticated watches and eyewear models in this approach.
- Additionally, 5G technology can aid in planning excellent online events.
6. AI
- When creating video conferencing apps, businesses are using artificial intelligence (AI) more and more. A good example of an interactive tool driven by AI for improved communication is Whoosh.
- This technology may be included by businesses into their virtual assistant programs. They may support users with a wide range of online negotiation-related difficulties, including note-taking, time management, advice for pre-meeting preparation, and much more.
- From online meetings, AI can gather and evaluate important data. In a video conference, for instance, you will be able to see the names of the participants, improving communication.
- Additionally, AI can analyze the language, making it possible to record video conferences and even translate them into multiple languages in real time.
7. Security
- Because they are concerned about personal data leaks, they choose to utilize safe apps. To ensure that clients are at ease, businesses ensure that their solutions adhere to safety regulations. It’s especially important for telehealth applications that include private information. Our staff follows data security laws when creating healthcare software like HIPAA Telmed.
- You must make sure that your developers employ cutting-edge video conferencing technology and take good care of the security of your application.
- You can publish information or an emblem indicating that your application conforms with security requirements if you have developed a robust video conferencing solution.
Conclusion
The market for video conferencing is expanding quickly each year. Therefore, this is the ideal opportunity to develop your creative solution in this area. Consideration of current developments in video conferencing technology would be beneficial in order to create a successful solution that satisfies customer demands.
We advise verifying your app concept if you are certain of the product you want to develop. Moreover, through this process, you will have the capability to assess the feasibility, validity, and profitability of your concept. Furthermore, by successfully accomplishing this pivotal milestone in app development, you will significantly optimize your time utilization.
Softermii’s committed staff can assist you in creating a project idea and putting it into practice utilizing cutting-edge video conferencing technologies. In the following areas, we have a wealth of solution-building experience: Telemedicine, internal business communications through the intranet, online learning, virtual conferences, “business speed dating,” and networking.
