What started back in 2020 as a needs must solution was quickly embraced to become sully set on an unstoppable growth path. Video conferencing statistics show that it is not only meetings within remote colleagues and teams that use this medium anymore, but entire events are now done virtually and remotely or using a hybrid model where part of the audience is physically present, with the rest attending a video conference.
So, let’s see what the stats and trends reveal about the now almost fully established new way of doing business, and how video communication has changed over the past couple of years of rapid growth.
North America had the highest revenue share of over 39% in 2020 and dominated the market absolutely. Lockdowns amid the Covid-19 pandemic have caused the boom in conferencing business and even as the protective measures are loosening up and the vaccine is rolled out, the market is still expected to grow. The video conferencing growth rate is estimated to be 11.4% from 2021 to 2028.
(Grand View Research)
The forecast for 2028 says the revenue is expected to reach $9.95 billion. The countries observed were the US, Canada, the UK, Germany, China, India, Japan, and Brazil. With many mergers and acquisitions happening fast, some of the major names holding the biggest video and web conferencing market share are:
(Grand View Research)
Aside from the need for protection that pushed the industry years ahead, other contributing factors to video conferencing growth are the global business operations, teams being gathered from all around the world, and the rising use of remote workers.
Video conferencing market stats show that in the component area, the on-premise segment with a revenue share of over 59% dominated. When it comes to the end-user category, the corporate segment had the highest revenue share of 28%.
(Grand View Research)
Looking at vendors, video conferencing market statistics point to Cisco as the leader with nearly 50% of market share in 2020, and just under $230 million in revenue. Lagging behind in second place was Logitech with just 17% of the market share.
(Statista)
Comparing Q2 of 2020 and 2021, there is a noticeable drop in downloads, be it because everyone already has video conferencing and webinar software from the needs-must situation in the prior year or the easing up of global measures but, the number that counted 479 million downloads in Q2 2020, had fallen to about 200 million a year later, according to video conferencing use statistics.
(Statista)
The 2020 boom saw 129 million Zoom downloads in Q2 2020 for Asia-Pacific, 113 million for the Americas, and finally, almost 89 million for Europe, the Middle East, and Africa combined.
The following year, the numbers are half of that, looking at the Q1 results across all regions according to Zoom statistics. In the second quarter of 2022, there were 36.47 million downloads in the Asia-Pacific region.
(Statista)
This represents an increase of 6.83% looking at the quarter before that which brought in $956.2 million, according to Zoom video conferencing statistics. Continuous growth can be seen in every quarter since the beginning of data collecting in 2017. In the past two years quarterly revenue grew by 600% looking back to July 2019 when it was $146 million.
(Backlinko, G2)
Customers that pay over 100,000 have spiked by 131% since July 2020. During the same year, the company gained 634 large enterprise clients. All those account for over a fifth of the company’s revenue, or about $250 million. In July 2021, Zoom also had 156 customers spending over $1 million a year, an increase of 77% since 2020.
(Backlinko)
Contrary to what many may think, video conferencing usage stats show during meetings employees don’t multitask so much doing something fun. Some 75% of employees are in fact completing other work tasks. The second place is reserved for checking emails with 68.3%. About half of the respondents (50.2%) are sending messages, 19.5% are checking their social media, and 12.5% are reading the news.
(Polly, Zippia)
What comes as a surprise to all remotely working mothers is that only 9% report being interrupted because of child care. Other activities people report doing during meetings include:
(Zippia)
Virtual fatigue has emerged as the new undeniable phenomenon as most workers list that as the number one challenge, according to video conferencing statistics during coronavirus. Other challenges include:
(Polly)
Video conferencing is more difficult than an in-person meeting or a phone call as the cognitive load is higher due to the lack of the nonverbal cues we pick up and show in person. The optimal number of attendees is 10 and anything higher than that increases virtual fatigue. Sill many types of meetings number more than 10, video conferencing usage statistics show. This is what employees see as the most challenging meetings, according to virtual event statistics:
(The Guardian, Polly)
The benefits of video conferencing are primarily in cutting the travel, venue, and staff costs for companies, which more than offsets any costs for high-quality video conferencing software. Video conference statistics show another 75% of savings can be attributed to using cloud-based video instead of hardware.
Some 77.2% of businesses are planning on using video meetings as support, and for B2B organizers it is one of the most important tools. Up to 66% of executives believe video and real-time communication is paramount for their daily communication.
(Finances Online)
The video conferencing industry boom has forever changed the way things are done and most companies don’t even plan on reverting to their pre-pandemic ways. The closures and remote working have sped up digital communications by an average of six years across all industries, according to web conferencing statistics. Up to 97% of employers report they are aware that the digital advancement in their companies was accelerated by the pandemic.
(Finances Online)
Up to 90% of respondents say getting their point across is much easier with video than with a conference call due to enhanced communication when you are able to see the other participants. Around 76% of employees use video for remote work and up to 75% report increased productivity and an overall betterment in balancing life and work, virtual meeting statistics indicate.
(Lifesize)
The connection we all craved so during the lockdowns was eased for many by the use of video calls. Up to 98% of people reported having better relationships on and off work due to access to video calls. Around 87% of remote workers said they feel closer to their colleagues and team members when using video communication instead of regular calls, emails, or texting. They also feel more productive in 89% of cases as they finish tasks quicker, virtual meetings statistics show. Some 36% would even choose permanent remote work instead of getting a salary raise.
(UCToday)
The usage of video conferencing has skyrocketed during the past two years and the time we are spending in front of screens has almost doubled. It’s clear now that a huge number of jobs are transferable online. Virtual conferencing has proven key to managing companies remotely and the advances in the industry have been miraculous.
Video conferencing statistics are clear, the surge caused by the pandemic is slowing down but is unlikely to completely stop. In the meantime here’s to hoping this method of remote communication gets more fun as gamification and AI enter the picture.
Sources: Grand View Research, Backlinko, Statista, Polly, The Guardian, Statista, Statista, G2, Zippia, Finances Online, Lifesize, UCToday
