Worldwide adoption of cloud-based business solutions is at an all-time high; video conferencing is no exception. According to surveys and reports from key analysts, the demand for cloud-based video conferencing shows no signs of slowing down. The recent Global Industry Analysts (GIA) report predicts that cloud-based video conferencing services market could reach $2.9 billion by 2020. Another new report estimates the cloud-based video conferencing market to grow at a CAGR of 39.6% by 2019. What are the factors driving the popularity of cloud-based video conferencing and VCaaS among enterprises?
Businesses are going global
The biggest reason why companies are opting for VCaaS is the changing nature of today’s workplace as it puts a heavier emphasis on remote collaboration – the ability to work as a team from any place, at any time. More and more businesses are turning global. Either they have teams operating across several time-zones or they have clients from different parts of the world. Therefore, it’s critical to have seamless forms of communication bringing dispersed business units onto the same page.
Emails, texts, and phone calls are important but they lack the benefits that face-to-face communication brings to the table. For instance, if you need to discuss the details of a new project with your team members, it helps to not just be able to “hear” but “see” if they’ve correctly understood the requirements. Remote teams encounter such needs on a daily basis. Video conferencing replicates face-to-face meetings, allowing businesses to manage a distributed workforce without having to spend a fortune.
Cloud-based video conferencing improves productivity
Let’s face it. There’s nothing more frustrating than having to sift through an endless string of emails or being misheard over the phone. The costs of such blunders are high. Cloud-based video conferencing – whether at desktop, conference room, or on a mobile device – improves productivity by allowing honest, transparent, and fruitful meetings to happen right off the bat, eliminating the need to go over the same issues again and again. This saves time and enables the team members to stay on top of the game. In fact, a new global study concludes that businesses using cloud-based services witness a boost in productivity.
Consumer video applications are setting new expectations
Video conferencing services, such as Skype and Google’s Hangouts, enable users to enjoy the benefits of video communications at a click of a button. As a result, people now expect the same level of ease and simplicity from their video communications at work. Traditional video conferencing requires users to follow complex steps to schedule a call, leaving rooms for errors. However, cloud-based video conferencing provides a single process for managing all types of calls, be it point-to-point or multi-point calls that involve more than two sites.
While consumer-grade video services channel the ideal video conferencing model, they are hardly compatible with the meeting room environment. The security risks they pose are worrysome and numerous. By combining high quality camera and video capabilities with the cloud, businesses can avail high-definition video conferencing experience in a few simple steps.
Businesses are cutting down their infrastructure spending
Many companies lack the necessary resources they need to manage large-scale video deployments. Thanks to the cloud, businesses can transfer the IT responsibilities to a service provider and put their focus back to core operations. Opposed to on-premise solutions, VCaaS provides enterprise-grade video conferencing facilities without needing capital investments on infrastructure, equipment, and staff required to set up and manage the technology.
The video in the cloud model presents huge opportunities for businesses operating outside of the four walls of a brick-and-mortar office, combating the challenges of distance, time, and geographical barriers. For more traditional office setups, cloud-based video conferencing offers many benefits over premise-based systems. This encourages businesses of all sizes to leverage video communication, solving key business issues cost-effectively.