The growth of live video is one that is incomparable to any other technological growth that the world has ever seen. By 2028, the global revenue from live video services is expected to reach almost $190 billion. In addition, studies are showing that consumers want live video, as almost 80% will interact with live video at least once a week. However, not only do consumers benefit from live video, but businesses, gaming platforms, real estate, and healthcare providers use it as well to conduct everyday affairs.
Effective live video, however, is a challenge. Because the technology is growing so rapidly, the speed at which businesses and industries can learn to use it, and consumers and employees can be trained to use it properly, is hindered. Bandwidth, video quality, privacy, and compatibility with all devices are just a few pitfalls that many businesses are affected by when trying to utilize live video platforms. Reports even show that 30% of professionals claim that their web conferencing tools are harming sales instead of helping.
Luckily, because this technology has the potential to change the way we use the internet and do business on a universal level, there are improvement efforts that have been set in motion to help alleviate these grievances. These new technological advancements will change the way that users experience communication while online, and will make it easier and more accessible to people everywhere.