Second only to our being asked how best to livestream or host a virtual conference (let us know if we can help you there), is the question everyone is asking in startup and venture capital circles, “Which sectors are stronger or more attractive to investors, because of coronavirus and the economy?”
Healthcare and MedTech are the obvious sectors on which the world is focused. Understandably, we’re all curious about the future of Office Space and Coworking.
Less pronounced is that the demand for Media Technology has accelerated to reach every person on the planet.
Media Based Software as a Service (SaaS) and Online Media
Our friends at TrustRadius, a review platform for software that connects buyers and vendors with the most trusted content, published today a look at software industry statistics revealing the rapid adoption of media innovations and the exuberance everyone has to figure out the best solutions for today’s challenges.
Mandi Sadler, Kaylin Gilkey, and Mark Barrera, pulled this together with TrustRadius, “In previous weeks, buyers have been highly concerned with building out software for a remote workforce. Companies worked quickly to set up antivirus software, VPNs, and remote desktop software tools for secure remote workstations. As more and more companies moved to remote work, we weren’t surprised to see the categories of Web Conferencing, Webinar, Video Platforms, and Video Conferencing Equipment rising steadily.”
1, 2, 3… Media
| # | Category | Growth |
| 1 | Telemedicine | 616% |
| 2 | Web Conferencing | 445% |
| 3 | Video Platforms | 327% |
| 4 | Antivirus | 308% |
| 5 | Remote Desktop | 242% |
| 6 | Mobile App Development | 199% |
| 7 | Webinar | 193% |
| 8 | Live Chat | 190% |
| 9 | Virtual Desktop Infrastructure | 111% |
| 10 | VPN | 101% |
| 11 | Medical Office Software | 59% |
*Figures over 100% indicate that impressions have more than doubled.
Aside from Antivirus, which I have to admit, I find intriguing given the virus, nearly the entirety of the list can be summarized as demand for use cases of streaming, online media, and video.
“We also found it interesting to compare the products that have grown overall since COVID-19 hit the United States,” added Sadler. “All of the products below have seen significant growth in response to this crisis”
And it’s from that lens of their data, about not which categories are booming with demand but which products in particular are being sought, that we can slice WHY people need such solutions:
- Google Classroom or Blackboard Collaborate – education at home
- Vanilla Forums or LinkedIn Sales Navigator – social media
- Microsoft Project Server and Google Drive – remote work
- BlueJeans and Zoom Video Webinar – virtual conference and livestreaming
TrustRadius data shows that the fastest growing conferencing tool on the Intermedia Anymeeting (with 13X growth), followed by Blackboard Collaborate, Zoom, BlueJeans, and Amazon Chime.
There you go. The answer to one of our most Frequently Asked Questions of the last two weeks.
They’ve put together a wonderful article of more of the shifts in the way we work, share, and learn, from document signing to recruiting technology so as a thank you to them for uncovering insight to what so many are asking us, this whip of an article is to encourage you to get to know what they know.
TOMORROW, on Thursday, April 2 at 12:30 CST, TrustRadius is hosting a free discussion on these trends with TrustRadius CEO Vinay Bhagat and Matt Heinz of Heinz Marketing – Sign up here.
Not surprising with streaming, video, and conferences. For some reason, telemed did surprise me though. Guess I never thought about it.
In fact Adam, I too am a bit surprised by the rate of growth but that just made me wonder how much that’s interest but not adoption. Also made me curious if that data can be sliced more… by country, by state, by use case? Seems there would be healthcare regulations, policies, etc. that more stringently impact how and where any of that can be done, than is the case with the other streaming on the list.
Mark Barrera, Kaylin Gilkey, Mandi Sadler, any take?
Sean Bauld, Meredith Sanger, Lisa McDonald any references to more of what’s evolving in telemedicine?
Telemedicine and remote monitoring is mandatory is today’s environment. COVID19 is too contagious and too significant to not have telemedicine expanded massively. FDA is working hard to make every aspect of this easier and has already issued much simpler guidance. Hopefully we will evolve to where telemedicine is as high a standard of care for patients, but today we can’t cope without telemedicine being our frontline.
Paul O’Brien we are looking at slicing this data up geographically and any other way we can. Stay tuned! We will be reporting new data weekly, hoping to provide any new insights as much as we can.
Paul O’Brien Regulatory barriers in the telemedicine industry have been falling dramatically in recent years and COVID-19 will no doubt expedite that. American Telemedicine Association has a list of state by state regulations and is a great resource on the state of the industry.
https://www.americantelemed.org/
Rock Health has a great newsletter on the latest in TeleMed and Digital Health investing.
https://rockhealth.com
Great write-up from Paul and team on the data we’ve been working with. Consider it a preview of the evolving New Normal that we’re all exploring.
Thanks for posting Paul O’Brien! Impressed by the growth of the listed companies. Also, seeing the queries in the software field is insightful cuz it’s not just limited to “video conferencing”
Good information. Thanks.