Video conferencing is live, visual communication between two or more remote people that simulates a face-to-face meeting. At its best, it transmits full-motion video images and high-quality audio between multiple locations. Nowadays, in the business world, desktop video conferencing is a core component for conducting routine meetings, negotiating business deals, and interviewing job candidates. Therefore, companies no longer have to subject their clients to subpar communication. The best video tech types can transform business operations positively with clear video streaming and reduced noise.
The Covid-19 pandemic and stay-at-home orders have led to exponential changes in people’s work. One of the changes involves the use of VC as a means of communication. For instance, recent statistics show that Zoom had 10 million daily meeting participants in December 2019, but by April 2020, that number increased to over 300 million. This raised the demand for such platforms, along with the integration of the latest technologies such as the Internet of Things (IoT), Artificial Intelligence, and Cloud-Based Technology. In fact, according to a recent report by MarkNtel Advisors, the Global Video Conferencing Market is projected to grow at a CAGR of around 9.5% during 2023-28.
Discussing the Prominent Types
Telepresence VC System
Telepresence is utilized to host a meeting as closely as possible. Even if there are no participants in the same room physically, the setup for the video conference can be done easily. It includes large monitors and television displays with cameras positioned at eye level. However, Telepresence is costlier than other video conferencing technology platforms, but the excellent resolution offers the end-user a holistic experience.
Integrated VC System
Integrated systems are typically designed for group video conferencing, where the equipment is centralized. Thus, the central venue hall has all the main cameras, displays, and other peripheral videos mounted in the location. Furthermore, this video system supports video and audio resolutions of up to 4K Ultra HD, including the encryption of all meeting content.
Desktop VC System
The desktop VC system is very popular with typical office workers and people on the go. It is often used for personal meetings and quick office meetings. All the hardware and software for video conferencing are installed on a computer. Thus, it does not require a meeting room with monitors and video cameras. Therefore, the host and participants can communicate for a short time, saving costs, time, and travel.
Service-Based VC System
A service-based video conferencing system offers the provider major authority, which is typically a telecom carrier. This means less work on our end, as we don’t have to deal with any complexities. Once the payment is done, the provider manages all the preparation for the conference. Thus, the conference can be more efficient and effective, and there will be no technical distractions.
Why Video Conferencing Technology Is Too Demanding
The demand for video conferencing has increased significantly in recent years, particularly due to the COVID-19 pandemic, which forced many people to work, learn, and socialize from home. Here are some factors contributing to the rising demand for video conferencing:
- Remote work and distance learning: The pandemic has accelerated the adoption of remote work and distance learning, leading to a surge in demand for video conferencing tools. Video conferencing allows people to collaborate and communicate in real-time, regardless of their physical location.
- Improved technology and connectivity: Advances in technology and connectivity have made video conferencing more accessible and reliable than ever before. High-speed internet, high-resolution cameras, and high-quality audio equipment have improved the video conferencing experience, making it a viable alternative to in-person meetings.
- Cost savings: Video conferencing can save organizations significant costs associated with travel, accommodation, and other expenses related to in-person meetings. This makes it an attractive option for businesses of all sizes, particularly those looking to reduce expenses during economic downturns.
- Environmental considerations: Video conferencing reduces the need for travel, which can help reduce carbon emissions and support sustainability efforts. This has become an important consideration for many organizations and individuals looking to reduce their carbon footprint.
- Globalization: As businesses and organizations become more globalized, the need for effective communication and collaboration across borders becomes increasingly important. Video conferencing allows people to connect and collaborate regardless of their geographic location, helping to facilitate international trade and commerce.
These factors, along with the convenience and ease of use of video conferencing technology, have contributed to the rising demand for video conferencing tools. The demand for video conferencing is expected to continue to grow in the coming years as more people adopt remote work and distance learning as part of their daily lives.
Top Most Institutions Facilitating Video Conferencing
Government
Government and public sector agencies use video conferencing as a cost-effective solution to expand the coverage of their programs and services. Additionally, it is widely used by the army, police, and other law enforcement units during emergencies and natural disasters.
Telemedicine
Telemedicine involves the facilitation of electronic information and communication technologies to receive medical services. It ensures that patients, medical specialists, or institutions that are geographically distant can work together without compromising the quality of interaction. Thus, it raises healthcare management qualitatively to different technological levels.
HR & Recruitment
There has been a massive surge in the utilization of video conferencing by human resources departments for the hiring process of potential employees. This involves no travel and saves time and cost while offering a face-to-face interview.
Banking Solutions
Video conferencing permits financial institutions to develop customer service and personalized interaction with customers. Additionally, investment banks are able to exchange information and details regarding market shares, currencies, and other time-sensitive information that sweeps around the world.
Pros and Cons
While there are benefits in video conferencing, like every other technology, there are shortcomings as well.
Pros
- Increasing productivity
- No time constraints
- Saves travel expenditures
- Well-structured meetings
Cons
- Network issues
- Different time zones
- Less personal interaction
- Expensive set-ups
In Short,
Video conferencing has become the preferred way of communication for large organizations as well as for point-to-point individual interactions. It offers an instant and reliable process through which the entire organization can connect, communicate, and collaborate. Consequently, it also has a lot of intangible benefits, such as increasing employee productivity in the organization. With such systems, we can connect from anywhere, at any time.