The videoconferencing industry is booming due to the "New Normal" the world is fast adopting.
Set to be around $23 Billion dollars by 2025, this space has room for a few more public alternatives to the main stream providers.
After extensive testing of many options and service providers, as users we found most of them either too restricted, too expensive or just to complex to use.
So we designed and developed our own full video conferencing platform which includes a web interface and both IOS and android apps with one particular goal in mind - keep it simple and very easy to use.
We have has fantastic feedback from our beta testers with the main comment being how fast VidYap is and the HD quality over Zoom and other big payers.
We have current APPS in both the Google Play Store and the IOS Apps Market.
While our current apps are still available in the app stores, we have taken VidYap offline to complete a major upgrade. VidYap is powered by the powerful Jitsi videoconferencing engine and is undergoing updates to the core streaming server and minor cosmetics.
As two of the top five video conferencing platforms, Zoom being number one and Cisco Webex number
three, the following video conferencing statistics offer insight into their functions. Key trends and facts on
the companies are detailed in the list below.
Zoom allows users to conduct audio and video meetings from 2 to hundreds of people.
It's the most popular video conferencing platform, at 40.49% market share.
Zoom was valued at $16 billion USD from trading after it's the first day on the market.
Headquartered in San Jose, California in the United States.
Founded in 2011 and launched in 2013 by Eric Yuan, who was a former executive and engineer of Cisco Webex.
Similar to Zoom, Cisco Webex facilitates online meetings and video events and functions.
Cisco Systems acquired Webex in 2007.
It is headquartered in Milpitas, California in the United States.
Cisco Webex is the third largest video conferencing platform by market share at 12.31%.
There are a few smaller service providers out there, but its clear to see there is plenty of room for growth
and for good products like VidYap to gain a small percentage of this massive market.
Our Vision for VidYap is a simple one:
Create a clean easy to use Video Conferencing platform that anyone can use. And then listen to what our users are telling us and make it better. This "Customer Centrix Approach"is adopted by everyone involved with VidYap.
It just not Rocket Science: Listen and Learn from our Users.
To define our Goals for VidYap over the next 5 years is easy.
1. We want to gain 1-2% of the video conferencing market
2. Grow and build a strong loyal user base.
3. Continue to improve VidYap with the latest trend options while still keeping it simple to use. - Our short term goals for the first 12 months is to enter the market using our multi channel marketing funnels and streamline them to get our max ROI.
The Video Conferencing market is booming as a result of the "New Normal" people are starting to accept. - More and more companies are opting for employees to work remotely. VidYap is poised to enter into a "prime" market and our consistent branding will be a positive influence for users recognize VidYap in the stores and marketplace.
Just 1% of this massive market becomes very lucrative from our business model as our over heads are much lower than our competitors. Our goal is to acquire 100,000 users over the next 2 years paying an average of $10 a month = USD$1m a month.
We have multi channel marketing
funnels ready to roll out !!!
Our Social footprint is in place with Face Book, LinkedIn, Twitter and YouTube. - We have the best Funnel Building technologies and best practice methods in place. The only thing that hold our traction back is marketing funds.
We have a proven ROI structure to ensure we reach maximum traction from our marketing schedules.
Asia Pacific (APAC) is projected to witness a substantial compound annual growth rate during the forecast
period. The emerging trend of BYOD (bring your own device) policies and enterprise mobility in enterprises
of all sizes is driving the demand for video conferencing software in the region. Employers in this region are
encouraging their employees to use their devices in order to reduce the overall operational cost. The
availability of skilled labor force at a cheaper rate is also attracting companies to set up their offices in this region which is also positively impacting the video conferencing software market growth in this region.
Adoption of 4G and 5G technology set to boost the video conferencing market.
The development of 4G and 5G at affordable prices has brought video conferencing to the forefront of remote working. In 2019, Ericcson and Qualcomm Incorporated had completed the first-ever live 5G video conference in India using 28 GHz spectrum. With the adoption of 5G technology, there has been an increase in network speed and bandwidth that support in high quality of video conferences. This has helped in better video conferencing quality even in remote locations, thereby driving the video
conferencing market in the near future.
Geographically, the global Video Conferencing Software market has been segmented on the basis of North
America, South America, Middle East and Africa (MEA), and Asia Pacific (APAC). North America held a
significant market share in 2019 and will remain at its position until the end of the forecast period. Markets
in North American countries like the U.S. and Canada are relatively mature in terms of early adoption of
new technologies coupled with the presence of major market players, thereby bolstering the overall
regional market growth. Moreover, the availability of highly sophisticated network infrastructure in these
countries also contributes to the market growth of video conferencing software in North America. With the
recent outbreak of coronavirus in the U.S. and other countries, companies like Zoom, Microsoft, and
Google are witnessing skyrocketing demand for their video conferencing and chat software as millions of
people are working from home coupled with school closures.
We are expecting to launch v3.0 in late 2021.