The booming Video Conferencing Industry due to COVID-19
The Covid-19 pandemic has a huge impact on each one of us. The only hope that connected us with our friends and families was video conferencing. The year 2020 has been a roller coaster ride and the crisis is the most striking part to be registered in the history of mankind. Every sector in the business domain has some or other effect of the pandemic.
People sustain their lives but the global economy fell down due to the crisis. The biggest question arose on sustaining the business environment which can boost the global economy. There was a big question on how the industries will survive if the pandemic continued.
There are many sectors where companies were finding a way through which they can carry out their functions. Thus they have opted for video conferencing medium for their operations through web or app. This increasing adoption of video conferencing has created a huge demand for it and hence propelled the market of video conferencing.
Impact of the COVID-19 pandemic on the Video Conferencing industry
Many industries have faced economic crisis owing to the pandemic. But some industries have also seen significant growth during this period. One such industry is the video conferencing industry. When everything was paused and nobody can meet their friends, families, and colleague and carry out their work. At that time, Video conferencing apps were the only option available to meet that requirement.
The video conferencing industry witnessed an expected growth graph during this pandemic. Bringing the opportunity for all sectors to carry on their work remotely. Many big companies have opted for video conferencing as their mode of communication and carry out their functioning.
Few companies have also launched their video conferencing apps. Although, there are many companies that are using paid video conferencing apps to optimize it according to their need. Companies operating in this industry have gained a significant market share during this time and also got hype for promotion.
How video conferencing industry helping the other sectors
There are many companies operating under the business domain, which went under tremendous pressure of survival during the pandemic. Some sectors cannot even get a medium to operate while others found video conferencing as their medium for survival in the industry.
So, we are mentioning a few of the sectors where video conferencing has a huge impact.
The education sector was facing a crucial time during the initial days of the pandemic, as children cannot go to their schools. There is a huge confusion if children can get their education on time or this year will get null and void. But a new medium that came out and opted by the education sector for continuing the education process is Video Conferencing through the web and apps.
In the corporate world, many companies have faced problems because of the imposed lockdown and the virus spread. There was a huge concern arises on the survival of the companies. Many companies then adopted video conferencing as their medium of connecting their employees and carry out their work. Big giants like Google have also adopted this medium and helped their employees to work remotely and stay safe and connected through their video conferencing app.
Although, the health sector has witnessed a steeper graph then also there were many problems that arose over the pandemic. During the pandemic, hospitals and doctors were fully occupied to treat the covid-19 patients. But, there were many patients who were suffering from diseases that require routine checkups.
So, in order to do few normal checkups, doctors have used video conferencing as their medium. Few apps like Practo have designed to carry out ordinary checkups via video conferencing.
Top 8 companies operating in the video conferencing industry
There is an increasing number of companies that are providing video conferencing services. But, during the lockdown period, some companies gained unbelievable momentum. This momentum attracted some more companies to invest and operate in this industry.
We are mentioning the top 8 companies that are operating in this video conferencing industry.
- Google LLC
- Premiere Global Services Inc.
- Cisco Systems, Inc.
- Zoom Video Communications
- Blue Jeans Network
- Microsoft Inc.
- LogMeIn, Inc.
- Lifesize Inc.
The outbreak of the covid-19 pandemic has a great impact on every sector. But there are many companies that have witnessed significant growth and fall during this pandemic. The video conferencing industry is one of them. It has seen a steeper graph of growth.
Video conferencing is widely adopted by many companies, individuals, and institutions. But there is a risk involved in using this medium because of the digital data threats. There are many cases where companies have been alleged to sell the user’s data. So, to overcome this insecurity, companies need to improve their security system to gain users’ trust.
Overall, this pandemic proves to be an opportunity for video conferencing companies to operate and maximize their market share. Moreover, some advancements in the security system may boost its industry in nearby future.