Video has taken the world by storm, so video conferencing statistics are key to choosing the right tools.
Not only do the right video conferencing tools give users an effective way to connect and communicate in real time, but they can also improve productivity, engagement, and company culture.
What’s more, the statistics show that the adoption of video conferencing tools has accelerated rapidly in recent years, thanks to the introduction of hybrid and remote work. In 2021, the global video conferencing market was valued at around $6.28 billion. By 2030, experts predict this landscape will be worth around $19.73 billion, giving the space a CAGR of 12.5%.
As the way we connect and work continues to evolve, video conferencing is set to play an essential part in the future of communications.
The Business Case for Video Conferencing
Video conferencing technology isn’t just a popular new trend for today’s business leaders. Adopting video conferencing solutions gives companies many benefits, from greater productivity to enhanced employee experience.
According to Lifesize, video conferencing improves the communication experience for 99% of workers. This makes sense when we consider that experts believe around 70% of our communication is non-verbal. We portray our thoughts and feelings with gestures and body language that can’t be perceived over the phone or messaging apps.
Studies show that access to video enhances collaboration and communication for work purposes. The same Lifesize survey found that 90% of respondents say video calls have helped them form a stronger connection to their workplace and colleagues. Employees even say video conferencing improves job satisfaction, while managers say it makes it easier to manage distributed teams.
10 Video Conferencing Facts You Need to Know
Video brings additional context and meaning to conversations in the workplace, unlocking opportunities for better understanding and boosting feelings of inclusion. For business leaders, investing in video is a chance to increase productivity and efficiency while preserving high levels of employee satisfaction.
Here are some facts about video conferencing today you should know:
- Not all meetings require video: Around 83.13% of people say they spend about a third of their week in meetings. While video is a popular tool for enabling meetings, 82.9% of respondents believe not all meetings require video. (Source: Dialpad)
- Video helps with onboarding and hiring: Around 86% of companies now use video conferencing software to conduct interviews online when searching for new employees. 66% of candidates prefer video conferencing to other communication tools during recruitment. (Source: Codeless)
- Conferencing adoption is growing worldwide: The North American video conferencing market held a revenue share of around 39.0% during 2021 due to rapid adoption among workplaces. However, the Asia Pacific market is growing rapidly too. This space is expected to see a CAGR of 14% through 2030. (Source: Grandview Research)
- Zoom is the most popular video platform: According to one report, 66% of all countries analyzed (80 countries in total) chose Zoom as their most popular video calling app. Zoom is joined by Microsoft Teams, Google Workspace, and Cisco Webex as one of the top video conferencing tools available. (Source: Emailtooltester)
- Lack of video tools can cost companies: LoopUp discovered that poor conferencing solutions within the workplace could add up to around $34 billion in annual losses. According to the report, inadequate communication damages productivity and workplace efficiency. (Source: LoopUp)
- Companies leverage multiple video tools at once: Companies may use Zoom and other video-conferencing software simultaneously. Around 75% of businesses use Microsoft Teams alongside other apps like Zoom. (Source: Vox)
Top 10 Video Conferencing Statistics for Your Business Case
Video is quickly becoming the most popular way for companies to communicate. Although demand for video has been increasing for some years, the adoption of this technology has skyrocketed since the pandemic. The web and video conferencing market saw a 500% increase in investment and buyer activity following COVID-19.
As interest in video continues to increases, the number of companies offering video as a standard component of UCaaS and collaboration tools has increased too.
Here are some key statistics to keep in mind if you invest in video conferencing this year.
- Employees prefer video calling: According to Lifesize, 80% of employees prefer to collaborate using video conferencing tools, compared to audio or messaging-based communications. Around 35% of employees say video made them feel more included in company culture and engaged at work. (Source: Lifesize)
- People use video to stay in touch with colleagues: According to the Pew Research Centre, 81% of adults working from home use video calling or online conferencing to stay connected to their teams. 59% of employees say they use these tools. (Source: Pew Research)
- Companies using video are seen as more innovative: Around 51% of people believe video companies are more creative. Additionally, 55% of people think companies are more collaborative when they allow video conferencing. (Source: Global Newswire).
- Most people join video meetings on a laptop or desktop: While the number of employees using video apps on phones is growing, around 77% of users still join these meetings from a laptop or computer. Additionally, 41% of users say a complex joining or downloading experience damages their video conferencing experience. (Source: Lifesize)
- People feel more connected via video: Research from Gigaom found around 87% of remote users feel more connected to their team, teams, and processes when using video conferencing. (Source: Gigaom)
- Video saves money: While buying video conferencing technology can initially seem expensive, it also has a fantastic ROI. Around 47% of companies say video has helped reduce travel costs by 30%. (Source: Global Newswire)
