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  • 33 Basic Video and Web Conferencing Statistics: 2019 Analysis of Data & Market Share

33 Basic Video and Web Conferencing Statistics: 2019 Analysis of Data & Market Share

Category: B2B News

The way people meet and work has changed tremendously. Businesses are no longer limited to the conventional, planned conference room meetings. They are getting more dependent on web conferencing software to conduct both internal and external meetings. So much has changed in the workplace but what remains the same, though, is that effective meetings continue to be crucial to business success. Those changes are reflected in this compilation of video conferencing statistics and web conferencing statistics.

The video conferencing software statistics we’ve gathered below indicate that technology-powered meetings have increased in value to businesses because they don’t only provide convenience and efficiency, but also help them gain relevance and competitive advantage.

In this guide, you’ll find the latest video conferencing research data for 2019 on video and web conferencing software market size, web conferencing statistics, benefits of these technologies to organizations, deployment and expert predictions on the future of video and web conferencing technology.

web and video conferencing statistics-main

Benefits of Web Conferencing Technology Statistics

With video and web conferencing solutions, executives can make powerful sales strategies to company stakeholders, while customer support reps can provide more engaging, face-to-face conversations with clients. And there are more to this list of compelling benefits to businesses, including the following:

  • With video conferencing, businesses are able to cut travel costs by 30%, while 92% of B2B marketers use these tools in their core marketing tasks. (PGI)
  • 66% of executives view mobile video and real-time data-sharing as crucial parts of their day-to-day communication. (Frost&Sullivan)
  • 56% of CFOs worldwide plan to invest in video conferencing systems to lessen the need to travel. (PGI)
  • 77.2% of business users are looking to support meetings with remote employees, while 75.7% have multiple offices. (Transparency Market Research)
  • 75% of savings are gained when using cloud-based video services versus traditional hardware multipoint control units. (Lifesize/Frost&Sullivan)
  • 75% of CEOs forecast that video conferencing will eventually replace conference calls. (PGI)
  • 54% of the US workforce frequently take part in video conferences. (West Corporation)
  • 58% of businesses utilize video conferencing for their everyday operations. (Frost&Sullivan)
  • 83% of large enterprises and 27.6% of small businesses are most likely to purchase video collaboration applications for their operations. (Commercial Integrator)
  • Inadequate work conferencing practices can result in up to US$34 billion in losses annually due to low productivity and lost time. (LoopUp)
  • About 50% of employees worldwide are expected to telecommute within a decade or so. (VCDaily)

Top Video Conferencing Benefits Liked by Businesses

Reduce travel

Save time

Reduce costs

Improved collaboration

Improve work/Life balance

Recording and archiving

Source: Frost & Sullivan

Designed by

Clearly, the benefits of video conferencing tools spill over to businesses of all sizes. Businesses typically adopt these communications platforms because of the essential features that they provide, especially their ability to share apps and files, video chat, audio calls, and text messaging/chat. On the other hand, dynamic organizations have already integrated the best video conferencing tools as part of their core business arsenal.

Video Conferencing Software Market Size Statistics

In today’s business world defined by scattered workforces and global communication, video and web conferencing has become the collaborative tool of choice by organizations everywhere. With video and web conferencing platforms, remote employees and mobile staff can easily collaborate and communicate with their colleagues and business partners in a more immersive way. By helping transform how people in almost all types of endeavor better communicate and operate, video and web conferencing software had been growing fast and will likely to continue its rapid expansion in the coming years.

  • The global video conferencing market size is predicted to reach a total value of US$6.4 billion by 2020. (Transparency Market Research)
  • By 2023, the video conferencing market share is projected to further expand to reach US$13.82 billion. (ReportBuyer)
  • The following year, the web conferencing software market size will go beyond US$20 billion by 2024. (Global Market Insights)
  • Worldwide, the voice and text messaging communications platform-as-a-service (CPaaS) market, which is a major part of the larger web and video conferencing technology sector, is expected to grow up to US$10.9 billion by 2022. (IDC)
  • By 2021, over 80% of global internet traffic will be video. (MarTech)
  • The enterprise virtual reality market, another exciting, fast-growing segment of web/video conferencing, is predicted to expand to US$5.5 billion by 2023. (BusinessInsider)
  • From 2017 to 2022, both worldwide IP video traffic and internet video traffic are expected to increase 4X. (Cisco)
  • 20% of meeting room budgetary allocations are now being used for collaborative technologies as businesses further expand its support for remote team meetings and other related new work setups. (FutureSource)

Global web conferencing market

By all indications, the global web conferencing market is one of the most dynamic in the entire technology world today. The ever increasing demand for the best cloud-based communications solutions and mobile applications among businesses is a major driver of this growth. The rising appreciation of business mobility and implementation of BYOD policies also advance the web conferencing market share for these tools. The plunging prices of video and web conferencing products, both software and hardware, is also helping boost this market growth.

Evolution of Video Conferencing Technology Statistics

A web conferencing software, in its basic form, provides the capability to directly access meetings using a web browser, eliminating the need to download another application. As web conferencing continues to further become aligned with collaboration apps—which involves opening a web browser, initiate sharing of videos, desktop screens, etc. with co-workers—more and more businesses are starting to integrate these software solutions in their day-to-day tasks. This emerging use of video and web conferencing technology, along with other current deployments, helps significantly in further cementing the critical role of video and web conferencing in the workplace.

  • Increasing use of chatbots and eventbots. A chatbot is designed to respond to questions using a conversational tone. Businesses spend almost $1.3 trillion to address 265 billion customer requests annually. Those that use chatbots are able to save as much as 30% of this cost and up to 60% for insurance services contact reps. (BI Intelligence)
  • In numerous external corporate events, such as the recent MPI 2018 World Education Congress Tech Showcase, chatbots were deployed to attend to attendees’ queries about the event held, and they performed quite well. (IACC)
  • In the near future, 56% of technology and multimedia firms are planning to invest in contact center AI. (Delloite)
  • By 2022, chatbots and NLP will enable businesses up to $8 billion savings in customer support costs annually. (Juniper Research)
  • Multi-touch conferencing. A multi-touch model provides businesses the convenience of enabling teams to access meetings in various ways using different solutions—in ways that best suit their goals—effectively enhances the speed and efficiency of all work collaborators. (UCToday)
  • Facial Recognition check-in. FR is used by numerous onsite registration vendors to significantly lessen event check-in duration. More integrated options for FR are already in test mode to further enhance its use in events. (IACC)
  • Wearable technology for attendees. Work teams and event attendees are increasingly using wearable tools like badges, wristband, and smartwatches to further aid interaction and collaboration. (IACC)
  • Real-time data access and integration + analytics. Businesses and events organizers are also tapping into the power of big data and analytics accessible in real-time, for live conference corrections, polling, etc. and even for enhancing the planning of future events. (EventsForce)

Chatbots Potential Cost Savings

US Annual Salary Savings (2016)

Business Type
% Savings

Insurance Services

Financial Services

Sales

Customer Service

Source: BI Intelligence

Designed by

From being a tool only for experts, video has become part of mainstream communications among work teams. This evolution was driven by numerous forces, such as decreasing costs of cloud-based video and web conferencing solutions, cleaner and easier-to-use interfaces, and quicker solutions that enable team members to easily connect whatever gadgets they use.

Future of Video Conferencing Technology Statistics

What does the future of video and web conferencing hold? Whether you’re meeting and collaborating virtually, providing delivering webinars or online training courses, telecommuting, or talking to a colleague about your upcoming product launch, elevating your use of video and web conferencing solutions is a must to get ahead of your competition. Aside from tapping the strengths of some of the best virtual data room software, an increasing number of innovative video and web conferencing technologies are either getting matured or are about to be deployed for wider use.

  • Integrated Huddle Room Solutions. Presently, only at 8.1% of all video conferencing room meetings, huddle room meetings will increase significantly to reach around 70% percent of all video meetings by 2022. (Forst&Sullivan)
  • In the near future, huddle room technology is expected to go beyond integrating the best collaboration solutions and video tools into a new class of video and web conferencing solutions completely integrated into project management, ERP, or CRM platforms. This innovative development will allow team members ready access to all business documents and apps, driving higher efficiency, agility, and productivity. (UC Today)
  • The rise of WebRTC. Web Real-Time Communication, a free, open-source technology, is becoming an essential component of web communications technology, mostly deployed for work teams collaboration and in the global eLearning market. (Statista)
  • Video for B2C communications. As more and more businesses take advantage of WebRTC to embed video into their websites, web conferencing technology is expected to assume a larger function. With this robust B2C approach, business clients will then be able to launch a video call straight from help desk pages and other contact sites. (Accenture)
  • Augmented Reality. Along with the advances of its sister VR technology, AR is expected to have one billion users by 2020, mainly involving video purposes. (CNet)
  • Telepresence solutions. Already being deployed to replicate the experience of a face-to-face meeting as closely as possible in a virtual environment, telepresence applications are expected to further deliver a significant impact on the video conferencing market and other related business applications. (DigitalJournal)

huddle rooms conferencing

The future of business meetings appears to be promising, as the holding virtual reality sessions continue to achieve robust, almost real-life experience among participants. As emerging technologies like AR, VR, huddle rooms, WebRTC, etc. continue to mature, we can expect that how we hold business meetings today will likely be considerably different and far more engaging in the years to come. It’s also more empowering to have a video and web conferencing solution with other key platforms, as this can inevitably enhance the benefits of CRM platforms to businesses, for instance. What’s quite certain at this juncture is that the long-standing disfavor with the use of video conference over face-to-face meetings will be gone soon.

Leverage these statistics when buying video, web conferencing software

The key video conferencing statistics presented above were selected to adequately inform you where the industry is heading. In sum, these are the key highlights:

  • Being one of the fastest-growing niches in the whole technology market today, the global web/video conferencing market is expected to further expand, promising new and better upgrades for business users.
  • Video and web conferencing tools have transformed business communications and collaboration, and will likely continue with new features and benefits.
  • Video conferencing will continue to evolve in form and shape and could become the standard in business and industry meetings.
  • New technologies like WebRTC, AR, VR, and huddle rooms will collectively elevate the entire video and web conferencing industry into further heights, particularly setting new conferencing norms and benchmarks.

These essential video and web conferencing statistics clearly indicate the current and upcoming state of the global video/web conferencing technology and how they are changing how businesses operate across industries and geographic locations. As a business owner, knowing the extent of the impact these technologies are bringing and will bring to the workplace and making the timely adjustments on your operations will prove to be pivotal in gaining competitive edge and success. In case you’re searching for technological solutions to better enhance your distributed work teams’ productivity, it is best to first try some of the best collaboration tools currently in the market before reaching a purchasing decision to ensure you’re making the correct choice.

By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. No stranger to small business hiccups and drama, having been involved in a few internet startups. Prior to his for-profit ventures, he has had managed corporate communications for a Kansas City-based Children International unit.

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