Conference Calls Statistics- What is The Future?

One of the industries which bloomed at a tremendous rate during the pandemic era was virtual calls/video conferencing platforms.

These applications provide a platform to arrange online classes, schedule business meetings and execute other purposes.

It is a collaboration platform used as a solution to geographical constraints. Through these apps, one can share their screen and even record the meetings/sessions.

Conference calls are an obvious choice for remote and hybrid work cultures or offshore operations.

This market’s potential was veiled until the education and corporate sectors were digitalized.

Visual conferencing has also overtaken event organization markets due to its ease of management.

With approximately 90% of American companies showing interest in conference communication technologies, we know this market is about to see much more growth.

TABLE OF CONTENT
Overview of the conference call
Phone conferencing vs. Video conferencing
Performance report of the conference call market
The key Conferencing statistics
Conferencing platforms statistics for companies
Conferencing call statistics in the telehealth sector
Conference call statistics concerning different age groups
Conference calls statistics evolution
Statistics of use of video conferencing in the U.S.
Future market synopsis of Video Conferencing
The number of opportunities conference call platforms unfolded
What do the web conferencing numbers reveal
Common issues with conference calls
Remainder

Overview of Conference Call

Who could have thought, before 1982, that the first video conferencing system first released than could stretch into such a big thing? Now, before I should disseminate the cost of that video call, I suggest you sit down rather and take a deep breath, as it costs$1,000 for an hour, excluding the upfront cost involved.

Webcams were first invented in 1991. These small and significant developments in video conferencing technology built the premise for the infrastructure of the conferencing market that we now see.

Cut to 2020 when the pandemic hit and the workforce shifted to the digital realm; hence, conference call applications saw a boom. Video conferencing platforms have been in use since it was founded, but as of now, it has become an integral & irreplaceable part of the work dynamics.

This could be better demonstrated if exact numbers could be involved. This was always an underdog industry, so analyzing how it grew into such a promising full-fledged market would be an exciting narration.

Also, a detailed discussion of them will allow you to choose a better conferencing tool.

Phone Conferencing vs. Video Conferencing

Phone conferencing is much cheaper and hence is used for sales marketing execution than video call conferencing. Phone and video call conferencing both are formats of conference communication and have impacted people so much. Businesses have claimed these conferencing solutions to have helped them with better growth perspectives by 94%. In Taiwan, a major chunk of social media users does use video and voice calling features the most on their phones. In the fiscal year 2021, Plantronics a leading telecommunication brand reported revenue of $1.47 billion.

Performance Report of The Conference Call Market

Stakes in the conference call market have skyrocketed with significant updates in the conferencing market. Both employees and employers promoted the work-from-home culture. Employees favored it due to the ease of working and reduced transportation costs. The employers supported it due to the efficient management of workers and reduced costs of electricity, meals, and other similar things that a physical office system has to bear.

  1. Skype witnessed a 70% hike in the number of accounts registered during the pandemic.
  2. Currently, it covers 29% of the total number of webinars held for marketing.
  3. In 2020, video conferencing platforms took a flight of 535%concerning traffic it brings.
  4. A Harvard University study disclosed that the initiation of conference calls led to a significant reduction in initial investors’ underreaction.
  5. It is said to have caused a reduction in traveling costs by 30%

The Key Conferencing Statistics

For better skin deep into its current reports, let’s first glance at the past year’s performance statistics of conference call apps.

2021 STATISTICS2022 STATISTICS
The screen time taken into use by an average adult raised to 40%The screen time in 2022 is between 4-6 hours per day by Genz
Zoom, which is one of the most famous names in the conferencing apps market, registered revenues of $1.021 billionZoom took a flight of straight 11.14% in 2022

Video conferencing is held for different reasons; for example, it could be hosted for family and friends to connect, arranged as a standard company meeting, or fit for educational purposes. Let’s review the significant statistics of conference calls for each perspective.

Conferencing Platforms statistics for companies:

As per the statistics, video conferencing meetings are of great use to companies. The usual mundane in-person office meeting leads toa loss of about $37 billion in a year as they are a formal ritual of no meaning to the actual working of the company. Workers spent 3 hours a week over this on a usual note; hence it consumes a significant chunk of time. The time and productivity ratio of in-person office meetings is low.

  1. Businesses claim web casting has helped them increase efficiency by about 94%.
  2. 76% of the workers engage over these apps for remote work purposes.
  3. 21% of the corporate workforce executed virtual meetings at ease in their abode.
  4. A worldwide survey revealed that respondents supported conference calls more than in-person calls for work updates.
  5. Businesses noticed a 72% increment in client collaboration through conferencing.

Conference call statistics in the Telehealth sector

Health info dissemination could be arranged over telephone calls quite easily. At least, this is what numbers reveal.

  1. According to a Great Britain survey, 78% of respondents agreed that telehealth is more effective than in-person consultations.
  2. A 2021 survey says three-quarters of physicians used telehealth and virtual care for primary care visits in the U.S.
  3. A survey among U.S. physicians revealed that 70% favor telehealth in terms of convenience.
  4. 26% of the healthcare institutions in Brazil shifted to teleconsulting services in 2021.
  5. As per a survey in the U.S. in 2021, statistics showed that 43% of respondents said to be very likely to use telehealth visits for a prescription refill in the future.
  6. A study conducted with diabetes patients reveals, group-conference calls have reduced diabetes distress by (p=0.005)

Video conferencing statistics concerning different age groups:

  1. About 90% of adults find in-person communication intimidating and can express themselves better over virtual meeting platforms.
  2. A study regarding generational struggles in hybrid work situations conducted globally reveals that the Boomers faced no difficulties while shifting to a digital workspace. Still, Gen Z, which we assumed to be more advanced technologically, seems to be troubled with starting work remotely as things were as unclear as they would have been in the physical office ecosystem. 16% of this survey respondents revealed they have difficulty contributing to a conference call.

Conference Calls Statistics Evolution

  1. In 2015 France, 57% of web calls were used to disseminate information regarding insurance products.
  2. Also, 2% of video conferencing platforms were used to educate about insurance products in 2015.
  3. In 2021, Conference call apps like Zoom, Google Meet, and Microsoft Teams have had nearly200 million downloads each.
  4. Though conferencing technology is in the market but was not much taken into use before. A 2014 survey concludes that 74 %of micro-businesses are reluctant to video calls or conferences in the United Kingdom.
  5. As per a global survey from 2014, the revenue this industry cultivated was 347 million.

Statistics of use of video conferencing in the U.S.

Covid-19 constrained the in-person meet-ups, as a result of which household infrastructure in the U.S. saw a hike of 24%, according to the Consumer Technology Association in 2020.

With evolving times a study in the U.S. reveals that about half of the population favors telecommunication for health consultancy.

During the global lockdown phase, a big fraction of teens(72%) in the U.S. used telecommunication to stay in touch with their families.

Future Market Synopsis of Conferencing:

On a global scale, video conferencing platforms witnessed giant leaps the previous year, and as per the surveys, it will reach USD 45.91 Billion in 2030.  Acknowledging the numbers are staggering, it’s going to grow even broader. Also, the video conferencing market is about to register a revenue of a CAGR of 19.5% during the forecast period. This industry is about to see much more growth and scalability soon. The interconnectedness of the global economy will lead to increased use of these apps. Also, virtual meetings apps are necessary to channel smooth offshore meetings. Currently, it estimates to be at 10.6 billion in 2022.

Currently, there are 16% of companies that function entirely remotely, with an increase in the number of companies shifting to an online interface, will reciprocally increase the usage of conferencing platforms in the subsequent years.

Also, 75% of the CEO predicts video conferencing to replace conference calls in the upcoming years.

The Number of Opportunities Virtual Webcam Meetings [latforms Opened Up

  1. Global video conferencing platforms help with offshore client interactions &increase market initiatives.
  2. Gets a broader audience range covered, thus improving customer engagement.
  3. Improved telehealth facilities.
  4. Video conferencing system facilitates distance education opportunities as well.
  5. Virtual interaction platforms aid the execution of personal meetups over video calls for long-distance families or friends. So, web conferencing apps helped families become more muscular.

What Does The Web Video Conferencing Numbers Reveal?

Video conferencing platforms reportedly make the whole working ecosystem ten times more efficient. It saves time, money, workforce, and resources such as fuel and electricity. Commuting bodily meetings doesn’t affect the company’s growth charts; instead, it wastes time.  Numbers reveal that 90% of respondents of sales call understood the product and services better through video conferencing solutions. The adoption rate of conferencing technologies is 80% in the B2C industry.

Common issues with conferences calls

  1. Technology stress for older generations.
  2. Troubleshooting in connecting due to network or system update issues.
  3. Hearing problems also exist while conferencing over calls or video calls, possibly because of two significant reasons. It could either be due to network problems or lower sound integrations in one’s device with which they are using for conferencing.
  4. Members responding simultaneously could lead to chaos during the meetings.
  5. Audio or video lagging

Remainder

Conferencing other than helping companies become more efficient, helped increase togetherness among family & friends. From this, we can conclude that emerging virtual meeting technology is and will be of great use in the future. The statistics probably claim that it is there to stay.

Due to its staggering success, there are chances for it to be subjected to comprehensive research on the tech front to cultivate some better opportunities.

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