The Opportunity of the Current Video Conferencing Market

Since entering the new normal in a post-COVID-19 world, video conferencing has emerged as an essential tool for business and personal communication. According to the latest data from Fortune Business Insights (June 2021), revenue in the global video conferencing market is projected to “grow from $6.28 billion in 2021 to $12.99 billion in 2028.”

With the recent emergence of the Delta and Omicron variants of the coronavirus, it is certain that video conferencing will continue to be a lifeline connecting people with one another and the world while protecting public health. Businesses, government, schools, churches, and nonprofits have been especially impacted by the need for a reliable service, scrambling to shift to online operations and find ways to stay relevant and seen by those whose financial support and volunteer
contributions have sustained them in the past.

During the early days of the pandemic, according to Business Insider, Zoom emerged as the preferred video conference solution counting both free and paying users, Zoom has 300 million daily meeting participants. That’s an increase of 2900% since December 31, 2019, when million daily meeting participants logged on.

The Zoom mobile app downloaded 485 million times in 2020. Zoom has 504,900 business customers. The number of annual meeting minutes on Zoom is now over 3.3 trillion. 45 billion minutes of webinars are hosted on Zoom every year.

But problems with its inherent security, poor stewardship of users’ personal data, and substandard customer support quickly made it a necessary evil rather than a valued partner (Tom’s Guide, 2021). As a result, in August of 2021, a legal judgment against Zoom awarded Settlement Class Members $85 million in damages and required Zoom to improve its security and policies (The Verge, 2021).

Once legal fees were accounted for, users could expect just $25.00 – or less – in compensation for the consequences of compromised personal data and the indignities and compliance issues of hacked Zoom meetings.

Zoom represents a cautionary tale in how not to secure technology and treat customers, but it has also given competitors an opportunity to claim the lost trust – and business – of Zoom’s disillusioned users.

NoW is the time to disrupt a video conferencing industry dominated by large players whose services are expensive, complicated, incomplete, unreliable, and unsecure.

Introducing NoW… Easy and Secure Live Streaming.

NoW is affiliated with 3rd Wave Marketing (https://3rdwave-marketing.com/).

3^rd Wave Marketing is a SBA, city of Kansas City, and state of Missouri certified small, minority-owned, woman-owned, disadvantaged business, and HUB Zone business.

Without question, Zoom has the lions’ share of the video conferencing industry. The question is: who will provide video conferencing with better quality and value and is poised to gain market share from a hobbling larger competitor? NoW, built on and powered by Amazon Web Services is that solution.

NoW is up-leveled video conferencing for a post-pandemic, Zoom-weary marketplace in need of a better, more affordable, more secure, and more functionally complete alternative for remote, distributed, and hybrid workers, learners, and teams.

Aside from its legal and security woes, like most busy professionals, chances are you have been on a Zoom call today where at least one of the following “small inconveniences” has happened to you:

• An invitee forgot to attend or showed up late because Zoom did not text a reminder.
• You had to dial in again because the conference was disconnected.
• You heard an echo that made it challenging to understand the other people in the conference.
• You could not figure out how to raise or lower your hand to notify the facilitator that you wanted time to speak.
• Zoom notified you that your Wi-Fi connection was unstable even when other applications were not experiencing service disruptions and your connection appeared strong.
• Zoom suddenly stopped detecting your computer’s audio or video components forcing you to dial-in using a phone.
• Zoom stopped at the 40-minute mark because only licensed subscribers may host meetings of more than 40 minutes each.
• Zoom’s Support team failed to follow-up or communicate well with you about issues with service or features, its chat, phone, and technology teams operating in silos with little immediate information.

Considering all of that, NoW imagine that you are a second-grade teacher tasked with teaching required curriculum to eight-year-olds using Zoom for four hours a day, five days a week, during a pandemic with no opportunity to create break out
reading groups, easily.

Could you effectively prepare each child to read at grade level?

Imagine you are a physician attempting to provide telehealth services because you cannot open your practice doors to patients during that same pandemic. You are worried about security issues, or “Zoombombing” (which you know can still happen),
making it impossible to keep your consultations private and HIPAA-compliant. Zoom also does not provide transcription of conversations without added cost, making it hard to keep good clinical notes from your conversation.

Could you effectively and compliantly provide care to your patients?

Perhaps you are the salesperson of an international business coach whose team has been stymied by the sudden and unexpected loss of service from Zoom for introductory meetings, preventing new sales for more than a week while your company’s
Zoom administrator cannot get any clear communication on what has been done to correct the problem.

Could you effectively sell your service?

Or maybe you are a small but growing business who would like to brand your Zoom account to give the right impression to your target clients but cannot add your logo and color scheme to the Zoom page because it is more than you can afford.

Could you effectively create an impression that lands you an important client?

The answer is that you could not effectively accomplish those important goals – at least not without adding costs at a time when inflation has made budgets less forgiving. When framed in those terms, the “small” inconveniences and nickel-and-dime
pricing schedule imposed by Zoom casts large shadows on user satisfaction. These problems may be examples when used here, but they are the reality for Zoom users and have an impact on productivity, revenue, profit, and mental wellbeing.

The opportunity to provide an easier, more secure, and satisfying experience in video conferencing is clear.
With NoW you can effectively do all those things and more.

Let’s examine some of the differences.