Alphabet
’s
GOOGL
division Google is leaving no stone unturned to develop new and innovative features in a bid to bolster its video conferencing software, Google Meet.
The launch of new features in Google Meet is a testament to the abovementioned fact.
Reportedly, the company introduced capabilities like adding up to 25 co-hosts for meetings, moderation tactics and safety measures along with an updated Quick Access setting.
Hosts and co-hosts now get the ability to control the panel through Quick Access settings. They can limit the number of users who can share screens, send messages, control people joining the meeting, mute users with a single click and end the meeting.
Reportedly, not all users can access the latest features. Quick Access setting is not accessible by Google Workspace Individual users and personal Google Account users. Moderation tactics and safety measures can be accessed by all users.
The latest move will help the company deliver an enhanced experience to Google Meet users, which in turn is likely to boost the software’s adoption rate.
Further, the move will strengthen the offerings of Google Workspace, which in turn is likely to drive the company’s momentum across organizations whose demand for software applications for connecting to employees seamlessly is continuously rising.
Efforts to Bolster Google Meet
Apart from the latest effort, the company previously introduced updates on Google Meet including an Autozoom feature for Google Workspace users to offer better video framing. This remains noteworthy.
Google Meet’s recent launch of a web app, namely Progressive Web Application, is also worth mentioning.
These endeavors are expected to aid Google in penetrating into the booming video conferencing market, which is significantly growing amid the pandemic.
Increasing demand for visual communication softwares due to growing work and learn from home trend owing to social distancing and shelter-in-place guidelines is driving growth in this market.
According to a
report
by Fortune Business Insights, this market size was $5.77 billion in 2020. The market is expected to hit $6.28 billion in 2021 and reach $12.99 billion in 2028, witnessing a CAGR of 10.9% between 2021 and 2028.
Competitive Scenario
Given the upbeat scenario in the video conferencing market, not only Google but also players like
Microsoft
MSFT
,
Zoom Video Communications
ZM
,
Cisco Systems
CSCO
and others are making strong efforts to bolster their presence therein.
Microsoft Teams recently announced that a new feature will be introduced to auto-suggest the most relevant search results across chats, files, people and other content stored or shared in the app.
Meanwhile, Zoom is making strong efforts to deliver enhanced user experience by providing seamless training, technical support, meetings, cross-platform messaging and file sharing features.
Further, Cisco Webex signed a multiyear agreement with Professional Golfers Association of Australia and the Women’s Professional Golf in Australia Tour of Australasia, wherein Webex will connect players with mentors, media and family.
Nevertheless, the latest update of Google Meet is expected to help the company in gaining a competitive edge against peers.
Currently, Google’s parent Alphabet carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
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