Enterprise video conferencing has become an essential component of digital workplace that is revolutionizing communication and knowledge flow across organizations. From corporate broadcasts to employee training and knowledge sharing, enterprises in all industry verticals are leveraging the power of video to increase collaboration, engagement, productivity, and hence ROI. Not only this, video is also emerging as a powerful tool for businesses to connect with external stakeholders such as partners, investors, and customers across geographical boundaries.
Video is no longer considered an optional technology in the workplace, and enterprise video platforms are gaining immense popularity in organizations across all verticals. Gartner predicts by YE18, 75% of workers at large organizations will interact with various kinds of video more than three times daily.
Millennials – often referred to as the tech-savvy digital natives and hyper-connected social media aficionados – are the 21st-century disruptors of the modern workplace.
A streaming video revolution is under way in the enterprise and millennials are the ones leading the change. With video already wired in their DNA, millennials in the workplace are taking the lead in embracing video consumption across organizations. According to Frost & Sullivan, the market for enterprise streaming video platforms and solutions is expected to witness tremendous growth, and triple in size by 2021, as enterprise video moves past an experimental technology phase to become a business-critical communication tool and productivity enabler.
The new era of global digitization has spawned unprecedented possibilities for employing banking video platforms in the financial services sector. Digital banking today not only encompasses customer targeting and user experience but also pervades the restructuring of the banking enterprise into a financial services digital workplace.
The healthcare industry stands to benefit momentously from the digital connectedness and innovation offered by contemporary technologies such as enterprise video. As an industry that has undergone numerous technological advancements in recent years, video streaming in healthcare is brimming with possibilities to transform the channels and effectiveness of communication between caregivers and patients, while also modernizing internal training activities, knowledge sharing, and collaboration among care teams.
From the pervading use of digital devices to an accelerated move to cloud computing, the proliferation of new technology in healthcare is exploding.
Businesses are increasingly relocating their critical operations, workflows, and applications to the cloud. Worldwide spending on public cloud services is expected to double from almost $70 billion in 2015 to over $141 billion in 2019, according to research firm IDC. The shift is driven by a range of factors stemming from rising demands for storage, scalability, security, mobility, innovation, and more – all of which begs the question regarding video hosting costs of cloud vs. on-premises deployment scenarios.
Video content is difficult to manage for a variety of reasons. Its sheer size takes up substantial space on storage servers and puts unprecedented strains on capacity planning; enterprise video streaming uses up too much intranet bandwidth; live video is riddled with latency pains; video files come in one too many formats; encoding can be painfully slow; secure video sharing and distribution has its own challenges, and top it all off, enterprise video streaming now needs to be optimized for playback on a range of digital devices to reach users in varying locations and bandwidth conditions.
A streaming video revolution awaits us. The current enterprise use cases for video streaming as a communication and marketing tool are only a forerunner to an impending video streaming wave that is still waiting to be realized. Businesses adopting video streaming not only reap its benefits of improved communication and learning across organizations, but are also setting themselves up for success in the long run.
