The last few years have been challenging for businesses around the world, requiring a shift in how companies and employees meet, communicate, and work.
With the emergence of the COVID-19 pandemic, organizations were forced to rethink workplace dynamics in favor of policies that favored and prioritized safety. Among these shifts were a move to remote work and digitized communications.
This quarter, Sonary, industry leader in B2B software reviews and analysis, highlights its compiled report on the state of video conferencing in the post-pandemic world, and how video conferencing tools are rapidly transforming the way companies do business.
A Market Projected to Grow to $22.5 Billion By 2026
Video conferencing is a thriving market with growth catalyzed by the shift to remote work among those in America and around the world. By 2025, Upwork research reports that it projects the percentage of Americans working from home to reach an astonishing 36.2 million.
As a result, the demand for robust, cost-effective video conferencing software has seen a marked increase with no signs of slowing down.
Other data, such as that from Mercer, reveals that nearly 70% of companies have plans to adopt a ‘hybrid’ model of ‘in-office’ vs ‘remote’ work. With more than 58% of respondents in a FlexJobs survey reporting that they would only consider a new job if they could continue to work remotely, this move appears to be a smart one, catering to the evolving needs and demands of the workforce.
This transition also mandates that agile organizations take a closer look at the tools and resources they have to support such a transition, and to help remote workers thrive while remaining productive off-site.
A Quick Glance at Some Startling Statistics and Facts Regarding Video Conferencing
Below we cover just a few of the over 100 statistics and facts compiled by Sonary. A full breakdown and analysis of over 100 eye-opening stats regarding the current and future state of video conferencing software can be found HERE.
A Quick Glance at the State of Video Conferencing in 2022 and Beyond:
- 67% of businesses have increased spending on web conferencing software – the largest increase in remote tool spending. (Exploding Topics)
- 57% of businesses have increased spending on collaboration tools. (Exploding Topics)
- 52% of businesses have increased spending on remote desktop tools. (Exploding Topics)
- Video Conferencing Hardware is expected to Ship 3.6 million Units by the end of 2022. (Future Source)
- By 2023, the annual video conferencing units and seat license shipments are projected to reach 86.7 million. (Cision PR Newswire)
- In March 2020, video conferencing apps on Android and iOS hit a record of 62 million downloads in a week. (TechCrunch)
- Since 2020 video calls have increased by 50%. (Owl Labs)
- 77% of remote workers report higher productivity levels when working from home. (Hubspot)
- 74% of employees say that they are less likely to leave a company that offers remote work. (Hubspot)
- 83% of the workforce say because they can work from home, they have increased job satisfaction. (Hubspot)
The Transformative Impact of Video Conferencing
Video conferencing can dramatically reduce corporate and employee costs associated with travel, accommodations, and energy costs.
Video conferencing allows for enhanced interdepartmental and cross-departmental communication, especially between locations where employees would not normally interact. Similarly, video conferencing provides more frequent opportunities to engage with colleagues and management in more meaningful ways.
Efficiency and Productivity
Eliminating time spent traveling between offices, gathering physically in conference rooms, and disruptions to workspaces all aid in increasing both productivity as well as efficiency across virtually all industries.
Improved Workplace Satisfaction
The post-pandemic workforce has been hesitant to return to the office, realizing the additional benefits and quality of life improvements gained from working remotely. Savvy employers have moved to accommodate the evolving needs of the workforce, offering remote and hybrid options to attract and keep talent.
Given the ongoing threat of COVID variants, virtual conferences and meetings offer a safe and health-conscious way to protect the health and well-being of employees and stakeholders alike.
Sonary was conceptualized as a platform to help businesses make better, more informed decisions about the technology they choose to purchase and utilize within their organizations.
Its site helps leaders discover, compare, and review data on a broad range of B2B solutions ranging from HR platforms to inventory management, payroll, invoicing, project management, and everything in-between.
Equipping visitors with the right information about products that can move the needle within their company, its side-by-side analysis of software and solutions, combined with real user reviews and premium content, set it apart from the sea of competitors in the space.
Those interested in learning more about Sonary, or how video conferencing software can help solidify a competitive advantage in today’s fast-paced economy, are encouraged to visit the official website for more information.