According to a study by the consulting firm Frost & Sullivan, the use of video conferencing in North America will increase in the coming years, thanks to the growth of Millennials and their new working philosophy. In this regard, the study finds that this market will grow to 5.9 billion dollars in 2021, with an annual growth rate (CAGR) of more than 4%.
Who are the Millennials?
The Millennials are the generation born between 1981 and 1995, that is to say, young people between 20 and 35 years that became adults with the change of the millennium, during a time of great economic bonanza, and they have technological and social necessities and demands that they will have important implications for businesses. According to a projection of the consultancy, Deloitte, in 2025, will represent 75% of the world's workforce.
What role do Millennials play in labor transformation?
While the previous generation expected to be able to have a job for life, Millennials seek to have a great professional career passing through the main companies in the sector and only 28% consider that a high salary is important to keep stay. In addition, most prefer to work from home, as a team, and to host online meetings by video conference, instead of face-to-face ones.
Why do they prefer to communicate via video conference?
As we have commented, their entry into the labor sector is going to entail important changes in the organizations, since they will introduce a very different vision of how the work should be. Offices and the workforce will change significantly over the next few years and the concept of employment will shift to a more flexible environment.
Millennials are committed to time flexibility and telecommuting, and their fotolia_97332928 increase will require companies to equip themselves with new technologies, such as video conferencing, adapting to their communicative needs and making them easier to use. "What used to be a rudimentary component now weighs heavily on the minds of managers," said Alaa Saayed, head of the Unified Communications & Collaboration Industry at Frost & Sullivan. For the manager, face-to-face collaboration is gaining ground. "As they make up a larger proportion, the video will have more penetration and prices will be further reduced, which will further increase their adoption," he says.
In addition to betting on flexibility and labor mobility, they also do it for collaborative work, and prefer organizations that enhance the relationship between teams. In a study by Ideapaint, 38% said that their company's collaborative processes are obsolete and this makes it difficult for the employees to be in the office and those who are not. In this sense, the renewal of communicative tools and the consolidation of new technologies such as videoconferencing will allow them to communicate with their colleagues and work in teams from any place and time and with the quality and immediacy they need.
Video conferencing will be an indispensable tool
Given this paradigm, we can affirm that the increase of the implantations of video conference solutions in the companies will grow even more during the next years, and therefore, this increasing tendency is only the beginning. Currently there are professional video conferencing solutions in the cloud such as ezTalks Cloud Meeting that allow you to conduct HD-quality online meetings from anywhere and with all kinds of devices (desktop computers, PCs, smartphones, tablets with iOS or Android), contributing to the flexibility and mobility that Millennials need.
In addition, ezTalks Cloud Meeting offers services specially designed for the company of whatever size, and does not require the purchase of equipment since it is a service in the cloud. By paying a very flexible monthly fee that adapts to the actual use that is made, companies can enjoy a high-performance video conferencing service.