10 Mind-blowing Video Collaboration Stats for 2022 - Industry Report

10 Mind-blowing Video Collaboration Stats for 2022 – Industry Report

By Animesh Roy | Industry Report, | January 7, 2022

The meteoric rise of video collaboration is taking the world by storm.

As a result, the video collaboration is fast becoming an essential business tool rather than an optional innovation, the statistics reveal.

So much so that we’re seeing everything from simple one-on-one meetings to large office meetings and ultimately to full events live-streamed and broadcast to the attendants.

The thing is:

This powerful tool is looking to not only survive the new trends of VA, VR, and machine learning but is positioning itself as critical in connecting global teams and companies.

Source: Gartner, Forrester & PRNW (Industry Research)

Let’s look at the incredible stats behind this phenomenon.

#1. The value of the global video collaboration market reached $7.87 billion in 2020 from $3.85 billion in 2019 and is expected to grow up to $8.03 billion in 2022. According to video conferencing statistics for 2021, the growth of the market is projected to reach a CAGR of 15.45% in the years 2020 to 2024. Some predictions estimate it might go over $12 billion by 2024

#2. Up to 47% of video conference users have reduced their travel costs – Video collaboration saves time and money, as nearly half of users say they have reduced business travel by using the video call options.

#3. Video conferencing improves communication for 99% of people. It helps with building relationships in the workplace, which stretches even outside of the office, was the opinion of 98% of those questioned. In the same study, 89% of people said video calls helped them feel connected with their colleagues and the company.

#4. Video meetings improve productivity by 50%. Communication stats show improved communication and collaboration lead to an increase in productivity according to 98% of those questioned.

#5. As many as 76% of employees use video collaboration for remote work. Video calling statistics show that 76% of individuals use video calls to work remotely. Moreover, 43% of employee respondents said video communication helps their team to be more productive and bridge the distance between physical locations and teams scattered worldwide.

#6. 90% of people find it easier to get their point across when they are seen, video conferencing statistics confirm. Seeing someone and being seen helps you get your point across, nine in ten respondents say. And your meeting recaps will be recorded and shared more effectively, as 22% of users turn to video just for that.

#7. 35% of people use video calls as a way to feel more included and valued in their company according to video conferencing statistics.

#8. 87% of the workforce says they feel more connected to each other when using video. The vast majority, 80% reports video collaboration helped with their job and life satisfaction. According to virtual meeting statistics for 2021, the right platform improves the productivity and happiness balance.

#9. 51% see companies that use video conferencing as more innovative.

#10. 51% predict video will be even or more critical than AI and other future forms.

In Conclusion

The rise and rise of video collaboration has graced us with advances and new solutions that allow for much innovation.