2020 was a year that saw a lot of industries pivoting to the virtual model to ensure that the operations continued uninterrupted. Video technology is playing an increasingly important role in every sphere of our lives. In this blog post, we will look at 5 key industries that have the greatest opportunity to leverage video technology to deliver the best experience.
With schools and colleges conducting classes online and increasing time spent by students on digital platforms, it will be key for the educational institutions to ensure they have the right video platform to deliver not just course content, but also engage the students to foster an optimal learning environment. Education providers can cater to a larger audience owing to digital technology and scale-up quite easily. It is a win-win situation for the students too who can now learn at their own pace through recorded videos. They can interact with each other with the help of discussion forums, breakout rooms, and Q&A features on a virtual platform.
Video technology has come as a boon for the healthcare industry as it offers multiple avenues for medical professionals to engage with the patients. Information regarding tests and diagnosis can be shared comfortably via online communication channels in a safe manner, given the increasing concerns among patients due to Covid-19 fear. Researchers have found that there is a 90% increase in satisfaction rate for both patients and doctors as a result of increasing patient’s online involvement.
The way people shop was already changing with the advent of e-commerce but the pandemic has further accelerated the shift to virtual platforms. Retail Brands can now engage customers with the help of virtual platforms by providing virtual reality enabled trials, live streaming product launch events to a large audience, and also marketing their products through social media channels.
4. Socio-cultural Events
Events like musical concerts traditionally required the audience to be physically present but now the situation has completely changed. You can promote your event on social media platforms, reach a larger audience through the medium of a virtual event platform, and earn larger revenues. 360 VR technology can be employed to create fan zones and provide the attendees with a more real experience. Cultural festivals can also be celebrated with the help of customized virtual events, connecting people from different locations.
5. Media & OTT
With Netflix getting 16 million new sign-ups in the lockdown, it is evident that OTT platforms are the future. OTT platforms have become an integral part of our lives becoming our prime source of entertainment. Unlike traditional TV, we can now access our favourite TV shows on multiple devices based on our convenience. With the rise of binge-watching culture, it would be interesting to see how such platforms leverage video technology to serve their customers whose preferences continuously keep changing.
These are some of the key industries that will see tremendous growth in the usage of video technology. The power of video is not limited to these industries and has penetrated almost every industry.