In an age of increased digitalization, which has been accelerated by the pandemic, demand for real-time information and content has become greater than ever. Live video, also known as live streaming, enables this instantaneous information flow, whether it be for entertainment, business or even hospital appointments.
As the use cases for live video have multiplied, overall traffic has quadrupled. Last year, 17% of US patient visits were conducted via telehealth platforms, and 86% of companies conduct employee interviews over video calls. Why video over other forms of online communication? Visuals simply convey more, and are processed 60,000 times faster than text by the human brain.
The market for live video will accelerate over the next few years
Given all this, and the fact that the market for live video is projected to accelerate over the next few years, reaching $184 billion in 2028, now is the ideal time for firms to pivot buy in to live video as a way to appeal to new customers, and satisfy existing ones.
However, challenges exist to provide smooth, uninterrupted live streaming. Bandwidth, video quality and poor compatibility are the major pain points users report. These inefficiencies are reflected in the fact that 62% of companies rely on using three or more video calling platforms. With employees having to wait nearly 11 minutes on average for meetings to start, it is no wonder that 30% of sales professionals believe that web conferencing tools hinder sales, rather than help them.
What if there was a way to combine any data source into a single video stream? Eyeson does just that, integrating all the common functions used over live video onto one single user interface. Participants can easily display, distribute and record, all on a platform that is free from tracking and data mining, and is GDPR compliant. Given such a solution exists, businesses have no excuse to not transition to providing high quality live video as a means of communication.