Video conferencing options allow businesses to reach different sectors of the marketplace that would have otherwise been costly to address. According to a recently published study by MarketsandMarkets Research, enterprise video is expected to grow from $11.21 billion in 2013 to $35.57 billion by 2018, resulting in a compound annual growth rate (CAGR) of 25.9 percent during this time period.
The continuous development of innovative video conferencing technologies, such as new telephony collaborative tools and additions to corporate meeting rooms that contain state-of-the-art audio equipment, has led to several options for businesses to explore, reported the Wall Street Journal. Because of these technological expansions, strategies across different business institutions, such as medicine, education and enterprise markets, have grown to incorporate these new methods of communication.
Changes in communication
According to the source, one video session can involve hundreds of people, broadening the possibilities for collaboration across a plethora of boundaries, both geographical and cultural. For example, CERN scientists make use of these tools daily, utilizing video and audio equipment to reach the 20,000 company affiliates. As the organization deals with complex subject matter, the ability to connect with experts from around the world for input on projects has allowed for increased speed and productivity, reported the news source.
Physically, adjustments are being made in the corporate setting, as well, to accommodate the changing models of video conferencing. The news provider reported that rooms built for the purpose of bringing together video, audio and telephony capabilities have established an immersive quality that was not possible before, giving the impression that all of the meeting participants are in the same room. With this strategy, screens are hung at which video cameras are pointed, and microphones and speaker devices are placed strategically to allow for optimum communication. Although pricey, these teleconferencing rooms have become standards in the workplace, reported the news source.
Software and mobile conferencing
For enterprises that would prefer a more cost-effective solution, parts of the video room can be utilized to receive the same, albeit reduced, effects. In order to participate in a video conferencing strategy, the requirements include speakers, a connection to the Internet, a webcam and speakers, according to the Wall Street Journal. Typically, most computer equipment is built to include much of this hardware, and the news source intimated that businesses would need to purchase just the missing components and the video conferencing software.
Another benefit to the growth in this field of communication is the introduction of mobility. Now that most devices, such as smartphones and tablets, now contain the components of video conferencing, it is easy for businesses to leverage cloud technologies to optimize teleconferencing by allowing employees to dial in on the go.
By utilizing just one of these options, companies can explore new horizons in collaborative business.