When people think of live video streaming, their mind wanders to the gamers on Twitch. Influencers who “go live” on Instagram or YouTube to interact with followers. But live video encompasses so many more scenarios than just these. In 2021, 1 in 6 US patient visits relied on 2-way live video feed to connect people with medical help. Businesses of all sizes and specialties used live video to conference call and interview candidates.
Live video is the next big medium of online content. Of those surveyed, 79% of consumers interact with live video at least once a week. By 2028, global revenue from live video is expected to reach $184 billion. Already in 2020, gaming video content was bringing in $9.3 billion worldwide. If a picture is worth a thousand words, then 1 minute of online video is worth 1.8 million.
The staying power of remote work necessitates the bandwidth, quality, and security of video conferencing software. Not everyone has access to the necessary internet speeds for reliable video conferencing, especially in rural areas. Privacy is also a major concern, particularly in conference calls with limited attendance or recorded virtual events. These problems and more must be addressed.