We can all agree that the coronavirus pandemic has substantially impacted how we work and cooperate. Remote meetings are more common than ever before, and platforms like Zoom have made it possible.
Furthermore, most companies solely depend on Zoom when business meetings are in question. Let’s look at the statistics to gain insight into this platform, its usage, and how it has changed since the pandemic.
Zoom saw a 383% increase in its value since January 2020. In the second quarter of 2021, Zoom’s valuation even exceeded $100 billion. It’s no wonder that Zoom was one of the fastest-growing apps during the pandemic.
The year 2020 was the year of rapid growth for this company, as Zoom’s customer base grew by 470.33%. Of course, Zoom saw an increase in customers and revenue even before the pandemic, but not this much, as Zoom growth stats confirm.
As the situation in the world stabilizes, Zoom’s progress is slowing down. Still, its fast growth wasn’t sustainable, and it was expected that the company’s shares would drop at some point. Nevertheless, this company has a positive outlook in the long run.
Zoom meeting statistics indicate that many remote workers find Zoom meetings overwhelming. Still, this survey that included 2,000 people showed that only 14% of respondents wanted to go back to the office.
Nonetheless, 20% of those who mentioned Zoom fatigue stated that it got worse, while 38% said they felt better.
Most employees state that video conferencing has helped them get their point across, finish tasks in time, and enhance their work-life balance.
Virtual meetings statistics also show that 82% of workers are less likely to multitask on video calls than on audio calls. Virtual meetings undoubtedly have a positive influence on teamwork and productivity.
Video calls have become an inseparable part of our work because we need to have some kind of contact with our colleagues. This data shows that more than 60% of employees admit that seeing their colleagues’ faces has a positive impact on them.
Zoom can serve multiple purposes. While 89% of customers use Zoom for business meetings because most of them telecommute, many use it to connect with friends and family. Platforms like Zoom have made making and maintaining connections during the pandemic easier.
According to various Zoom usage statistics from 2021, Zoom had 300 million daily meeting participants in 2020 and only 10 million in 2019. Even though so many people use Zoom on a daily basis, it can meet heavy usage demands.
The Zoom app was the most popular in the Asia-Pacific region in the Q3 of 2021. North and Latin America recorded 20.93 million downloads during the same period.
According to Statista’s report, the Zoom app was downloaded over 129 million times in the Asia-Pacific region during the second quarter of 2020.
Zoom usage statistics from 2020 indicate that most companies have had to turn to virtual recruiting. As a result, virtual interviews have become a norm in the current environment. Still, 82% of organizations expected a decline in hiring new employees.
Virtual activities, like playing games on Zoom, have become a new trend in team building.
The US is the second country interested in virtual team building the most, after Singapore. Other countries that also invest in it include Australia, Canada, South Africa, and others.
Statistics about Zoom demographics and download rates show that people aged 35 to 49 download Zoom the most, while 23% are aged 25 to 34. On the other hand, people aged 65 or above use this app the least.
If we compare this data to the information from 2013, when 200 million people used the same platform, we can conclude how integral Zoom has become in our everyday lives. Nonetheless, it’s expected that people will use this platform less when the pandemic is over.
Let’s compare quarterly revenues of the previous years. In April 2017, Zoom’s quarterly revenue amounted to $27 million, $60 million in April 2018, $167 million in October 2019, and $1.021 billion in July 2021. It’s evident that Zoom’s revenue has been increasing since its founding.
According to reports, Zoom’s revenue growth is up 35% year over year. Zoom is thriving because of constant innovations, such as whiteboarding, hot-desking, and smart gallery, designed to empower remote, co-located, and hybrid workforces.
Zoom has 504,900 customers with more than ten employees as of July 2021. That’s about 36% higher than the same quarter last year. In 2020 alone, Zoom’s customer base grew by 470.33%.
The video conferencing market is expected to grow at a CAGR of 10.9% between 2021 and 2028. This industry is one of the few that have witnessed a positive demand for products during the pandemic.
Zoom’s market value is $74,688 million as of November 19, 2021. Also, Zoom has accumulated $3,911 million in revenues in 12 months (from October 31, 2020, to October 31, 2021).
The main Zoom HQ is in San Jose, California. Some other countries Zoom is headquartered in include Germany, France, the Netherlands, the UK, Australia, India, Japan, and others.
Zoom plans without the add-on allow hosting up to 500 people, but the maximum number of Zoom participants in one call is 1,000, and everyone can be equally interactive. Unfortunately, people who use the basic, free version of Zoom can’t increase the maximum number of participants (100).
It seems that Zoom meetings are relatively long, as only 9% of users hold meetings that last up to 30 minutes, and 10% hold meetings longer than four hours. However, 26% of Zoom users use this platform between 31 and 60 minutes per meeting.
Licensed users that use Education, Enterprise, or Business accounts can host two meetings simultaneously.
However, hosting two webinars at the same time is impossible. The main or alternative host needs to start a meeting first and pass the hosting privileges to another user later if needed.
It uses up to 2.4 GB per hour for group meetings and 1.62 GB for 1:1 meetings. Zoom data usage per hour depends on the video quality, as well. It takes up more data than other streaming platforms, like Netflix, for example.
Without a doubt, Zoom is currently the most popular video conferencing platform. The company has over 6,000 employees, and its founder and CEO, Eric S. Yuan, has an approval rating of 91%. Zoom’s competitors are successful and prominent companies, such as Microsoft, WebEx, and RingCentral.
Video conferencing is one of the few industries that saw a significant increase in sales and revenues during the pandemic, as almost all companies now rely on virtual meetings.
Moreover, people got used to video meetings because they can save a lot of time. Therefore, it’s more than evident that the future for Zoom and other similar video conferencing platforms is bright, and it seems it will stay that way even after the pandemic.
It depends on the video quality and the number of people in the meeting. For a 1:1 meeting, Zoom call uses 1.62 GB per hour for a 1080p video or 540 MB for the lowest quality video.
Zoom uses between 810 MB and 2.4 GB per hour or 13.5 MB and 40 MB per minute when group calls are in question. Zoom streaming takes up more data than other streaming platforms, but it’s relatively comparable to regular video streaming.
You can choose from four plans: Basic, Pro, Business, and Enterprise. Zoom Pro costs $149.90 per year, and it’s possible to purchase up to nine licenses per account. So, if you choose this plan, you’ll save $29.
Zoom Pro is the best for small teams, as meetings can last up to 30 hours and can host up to 500 participants (or up to 1,000, with the Large Meetings add-on). Also, it provides 1 GB cloud recording per license.
The biggest number of participants in a Zoom meeting is 500, or 1,000 with the large meetings add-on. It costs $600 per year (monthly billing is also available), and all participants can interact with each other.
When free Zoom meetings are in question, the maximum number of participants is 100, and this number can’t be changed. Zoom Pro also hosts up to 100 participants, but it’s possible to increase this number with the add-on mentioned above.
Free zoom meetings last up to 40 minutes for group meetings and up to 30 hours for private, 1:1 meetings. After 40 minutes, group meetings will abruptly end on their own, which can be inconvenient. Your only option is to schedule another meeting if you wish to continue it.
If you don’t need more than 30 minutes for your meetings and want to include less than 100 people, you don’t need a Pro version.
According to some sources, Zoom calls have around 300 million participants per day. When we compare this data to the number of daily participants in 2019 (10 million), we can gain a clear insight into how much the video conferencing industry has evolved during these three years.
Zoom statistics also indicate that Zoom might face a decline in revenues in the future, but that companies will still use this hybrid way of communicating with colleagues and team members.
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