In the wake of the dramatic increase in business video use during the pandemic, video adoption in enterprise communications is expected to continue growing post-pandemic as organizations embrace the new normal for in-office and remote workers, according to a report released jointly by Panopto and Wainhouse Research. Of the IT respondents surveyed by Wainhouse, 77% agree that “across our organization, we expect to record and store more content from video meetings than we did a year ago.”
The growth in the number of remote workers in 2020 led to the rapid adoption of live video conferencing solutions such as Zoom, Cisco Webex Meetings, and Microsoft Teams. It also resulted in massive unanticipated recordings of these meetings, which are corporate assets that need to be kept secure and preserved for institutional knowledge, just like email or documents. Wainhouse found that 86% of daily video conferencing users want video meetings to be recorded and archived for future use.
This rapid growth in recording presents numerous challenges for system administrators and end users. Large organizations have to secure millions of meeting recordings across their systems, prevent unauthorized downloads, and protect intellectual property. This is further complicated when working across multiple unified communications providers. Employees must be able to quickly sift through hours of meetings to find the moments that matter and securely share them with colleagues.
The report draws on the Wainhouse Research 4th Quarter 2020 Enterprise Video End User Survey that found that video management systems serve as the bridge that enables video meeting content to be distributed at scale–whether live or on-demand. With the growth of machine learning technologies, it is now possible to automate the process of creating speech-to-text transcripts of recorded videos. These technologies help whittle down the inaccessible mountain of video data, converting it into a referenceable source where information can be more easily captured, catalogued and retrieved.
More than half of all Wainhouse survey respondents (51%) say that they would find it very useful to automatically record work meetings and ingest content into their organization’s knowledge archive. A large majority (73%) would pay a premium for speech-to-text solutions that make it easier to search video content.
“Meeting recordings are here to stay within the enterprise,” said Steve Vonder Haar, senior analyst with Wainhouse Research. “Companies need to arm workers with the tools that get the right moment of video to the right person at the right time. This requires the implementation of technology solutions that make it easier for workers to catalog, search and find information trapped within video files. Video solutions infused with machine intelligence are becoming vital strategic technologies for creating and managing business.”
Other key data points from the report include:
- 66% of respondents agreed with the statement that they will use video meetings more frequently than had been the case prior to COVID-19.
- 51% of survey respondents say that they would find it “very useful” to be able to “automatically record work meetings and ingest content into their organization’s knowledge archive”.
- Among frequent corporate users of on-demand video, 43% of daily users have the highest interest levels in speech-to-text tools that can enhance archive searches.
“In the past year, the demand for meeting recordings has skyrocketed,” said Dave Neway, VP of Marketing, Panopto. “Meeting recordings are valuable corporate intellectual property that companies want to preserve and make easily accessible for knowledge transfer. The Wainhouse research shows that this acceleration will continue, and it mirrors the rising enterprise customer demand that we are seeing for video management systems like Panopto.”
For more information, download the report Unlocking the Hidden Value of Business Video–The Hunt for Meeting Intelligence here.
Wainhouse’s Steve Vonder Haar will be featured in a free webinar at 10am PDT, June 10, 2021. Click here to learn more and sign up for this event.
The report draws on the Wainhouse Research 4th Quarter 2020 Enterprise Video End User Survey – a random sample and statistically valid survey of 2,101 individuals – that found that video management systems serve as the bridge that enables video meeting content to be distributed at scale–whether live or on-demand. With the growth of machine learning technologies, it is now possible to automate the process of creating speech-to-text transcripts of recorded videos.
Panopto helps businesses and universities create secure, searchable video libraries of their institutional knowledge. Since 2007, the company has been a pioneer in video capture software, video management, and inside-video-search technology. Today, Panopto’s video management system is the largest repository of expert learning videos in the world. Headquartered in Seattle, with offices in Pittsburgh, London, Hong Kong, Singapore, and Sydney, Panopto has received industry recognition for its innovation, rapid growth, and company culture. For more information, visit www.panopto.com.