Technological advancements have changed the way corporations communicate, both internally within the corporate structure, as well as externally, in marketing campaigns and with clients. The COVID-19 pandemic sharply exposed the need for remote communication, remote workspaces, and virtual assemblies. Modern enterprise video streaming and on-demand video assets provide businesses the opportunity of launching the integrated video streaming platforms of tomorrow.
These rapid advancements in digital communications are already impacting and transforming commercial content platforms as well as the future of video training and online commerce.
The State of Video Streaming Solutions in the APAC Region
Around the world, many smart businesses are upgrading and future-proofing their institutions. Companies are moving to remote and hybrid work models. Streaming services are gaining steam; even employee training is increasingly being done remotely. The entire world is poised for a digital transformation. None more so than the Asian-Pacific market.
Technology giant IBM studied these technological trends, assessing the global interest over a five-year span for their report, ‘Video Streaming Software Market: Global Forecast to 2022.’ From 2017 through 2022, IBM expected the video streaming software market to grow from USD $3.2 billion to USD $7.5 billion, with a compound annual growth rate (CAGR) of 18.2% during this forecast period.
As the figure states, of the five market share regions comprising our world, IBM estimates that North America accounts for the largest market share, or nearly 44.1% of the overall video streaming software market during 2017; this was expected to grow at a CAGR of 14.3% during that five-year period. In comparison, during this same forecast period, IBM estimated that the APAC region already accounted for 17.2% of the global market share by 2017; expected to grow at a rate of 25.7%, the highest CAGR growth rate in the world for this same time frame.
The reasons behind the sharp expected growth across the world, IBM notes in that same report:
- Rising awareness of how advanced technologies positively impact business productivity.
- The extensive facilities and cloud technologies are now available to launch and manage content platforms at an economic cost.
- The added security features within modern enterprise video streaming solutions help protect from piracy and breaches of privacy.
Enterprise video streaming is poised to conquer the world. Of all those already taking advantage of these smart technologies, the APAC region’s growth is indeed leading the globe.
Why Use Video Streaming for Corporate Communication?
Every day there seem to be more reasons why media and businesses are turning toward video streaming solutions. The primary reason is that typical, consumer-grade video streaming platforms are not equipped to provide companies with the features and protections necessary to succeed in a global marketplace. The right video streaming service does far more than just stream videos.
It also protects your data and improves security by letting you control who can access your videos. Professional-grade streaming services also provide the technical support necessary to optimize recordings, video training, and live performances. It can even expand the reach and scope of video marketing campaigns, letting companies reach a wider audience–anytime, anywhere. Additional reasons for switching to customizable enterprise video streaming platforms include the following.
01. Streamlined, Effective Information Sharing
Enterprise video streaming solutions can streamline and enhance any viewing experience through added functionality. This includes such features as automatic closed captioning, speech-to-text conversion, audio transcripts, video galleries or libraries, customized video players, email or chats support, and more features; all nestled within a central, streamlined, and secure content management system. CTAs can of course be added to your video content for enhanced campaigns.
02. Rising Concerns for Video Security
Cyber crimes and data breaches can have devastating consequences for any company. Customer records, credit card information, and other private information–if breached–can cause untold damage. McAfee, a Cybersecurity leader, put the financial cost of cyber crimes at greater than $1 trillion, globally. As targeted phishing and ransomware attacks continue to grow, such Cyber crimes can devastate clients and sink both a company’s reputation and its institutional integrity. It becomes ever more important to authenticate viewers, encrypt content, and restrict access. It is also possible to provide image recognition of your subscribers as part of real-time viewer analytics, even for recorded content.
03. Needs for Digital Transformation and Hybrid Workspaces
The traditional office spaces of the past are receiving a digital makeover to create the digital and hybrid workspaces of our future. The need for flexibility in office design was intensified following the COVID-19 pandemic when the entire globe faced restricted travel. With proper integration of adaptive streaming technologies, most aspects of a company will be affected: HR support, maintenance, training and education, consulting, subscription packages, pre-sale support services such as product demonstrations or proof of concept, and post-sale on-site and remote support.
04. Video Content Form that is Flexible, Scalable, and Engaging
Enterprise video streaming allows businesses to offer the video content in ways that are both flexible and scalable. This includes adaptive streaming, which can generate multiple streams of the same content, varying bit rates, and resolution quality so as to cater to a range of customer devices and download speeds. Businesses can create and manage their own video content channels, publishing live and recorded videos for both private and public access. Your viewing clients can also respond to content through Chatrooms and Live Polls for enhanced engagement.
05. User Analytics & Insights
This is likely the most useful aspect of enterprise streaming, as detailed analytics will provide your team key insights regarding how your customers, employees, investors, and other stakeholders interact with your content. An analytics dashboard will allow for real-time troubleshooting as well as fine-tuning of content for improved engagement. Using platform analytics to track video engagement, you can fine-tune your content, learning which videos resonate with what audiences, for better engagement and increased brand recognition.
Where is the Need for Enterprise Video Streaming Solutions Booming?
Streaming solutions continue overtaking traditional media. Entire sectors of industry are experiencing the direct and ongoing impact of video streaming conversions and digital transformation. These include the following public sectors and markets:
- Healthcare. The recent pandemic further facilitated remote office visits between patients and their doctors. Automation advancements include pairing streamed medical consultations with AI so that diagnoses can be made using AI-assisted technology to better discover the causes behind illnesses.
- Financial Services. Banks, investment firms, and some financial services have moved not only their services but also their communication channels online. There is a rising trend in Taiwan and Japan starts to leverage the highly secure streaming solutions to hold roadshows and earning calls online for the availability of investors around the world to join. The rise of Crypto brought even the creation of money online. This reduced the need for brick-and-mortar buildings and enhanced convenience for clients who can access services remotely, 24/7.
- International enterprises. Streaming solutions have revolutionized the scope and reach of international businesses, which can now reach clients and employees globally. Events, products, classes, training, and more can reach audiences clear across the globe, greatly expanding possibilities.
Following this article, we will explain the best practice of enterprise video streaming solutions for corporate communication
Read More: 4 Best Practices of Enterprise Video Solution
Professional Enterprise Video Platform for Corporate Communication in the APAC region
KKStream is the leading enterprise video streaming technology provider for the entire Asia-Pacific (APAC) region. A subsidiary of KKCompany, KKStream has been helping clients build their own vertical media platforms for nearly a decade. Using cloud-based content delivery solutions, AI video encoding, and live streaming, KKStream helps customers effectively integrate corporate communications and video content platforms for digital streaming transformations. Schedule a free consultation and empower your hybrid workplace today.