Technology companies are always on the lookout for the next big thing. They either try to create a market based on a technological innovation such as the iPod and iPad from Apple, or scramble to build an offering to meet a trend. E.g. taking consumer experience of IM (instant messaging) usage to the Enterprise
The current video phenomenon is a combination of both.
The proliferation of broadband, the leapfrogging of developing countries adopting mobile technologies, the phenomenal growth of social media and the demands on business to reduce costs have all aided the growth of media rich collaboration technologies.
Companies across the technological spectrum are realizing that the millennium generation is comfortable with rich media. Along with this shift, the other major shift is in the choice of the preferred tool for communication. The desktop gave way to the laptops in the nineties, and the smart phone overtook the computer as the primary tool for productivity from 2000. With more video and rich media today, the smart phone is giving way to the tablet as THE preferred device.
The primary channels of communication of this generation are not voice and email; but video and IM. The rise of social media as their primary interface to the outside world is not lost on the technological companies and organizations. The millennium generation is both the next generation workforce and the next generation.
The shift of preferences and usage patterns are not lost on technological companies.
Each of them is working to leverage its market strength to move into this new segment of video and rich media. Apple, for example, is working on expanding the video capabilities of its devices, the most notable one is the dual camera iPhone 4 and the upcoming iPad.
Cisco is now aggressively adding elements of video to its portfolio. In addition to the high profile US$3 billion acquisition of Tandberg, Cisco has devices for communications in its video phones, devices for content capture in its Flip cameras, choice of mobility with its CIUS tablet and high quality video for home users with its UMI Home Telepresence.
Its portfolio includes products in video streaming, distribution, recording, archiving, retrieval, tagging and content management. Companies like HP, Microsoft, Avaya, Polycom are forming alliances to offer a richer value proposition.
Known for manufacturing state of the art televisions, Samsung is offering televisions that can connect to the Internet while Google is working to offer a Google set-top box, that can seamlessly bridge Internet content with broadcasting content. Social media companies, notably Facebook and Twitter are looking to form alliances with broadcast companies that will enhance the user experience. The list keeps growing and adding Web 2.x technologies to this mix offer an immense amount of value.
So, what is the driver that is encouraging companies to invest, innovate and aggressively bet in this space?
Collaboration
Collaboration is a US$34 billion market this is expanding with the addition of social media, contact centres and knowledge management. Collaboration in the new world is not static links and stale connections, it is all about dynamic associations and customized information. Technological and service companies which can help enterprises leverage these trends for competitive differentiation will reap rich rewards.
The theory of seven degrees of separation is yesterday.
In the new world, the degrees of separation are reducing, making the world truly a global village. In this market that is growing rapidly even as it innovates, there are no permanent winners. First mover advantages are only for the short term.
These are indeed the interesting times.
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