What is the forecast period of web conferencing market research report?
The global web conferencing market size was valued at USD 3.62 billion in 2019 and is projected to reach USD 10.46 billion by 2027, exhibiting a CAGR of 14.3% during the forecast period. The market is expected to witness fast-paced growth during the forecast period.
What was the video conferencing market size in 2017?
Industry Insights. The global video conferencing market size was valued at USD 3.4 billion in 2017 and is expected expand at a CAGR of 9.2% from 2018 to 2025.
What is the future of web conferencing software?
These statistics show how crucial web conferencing software is to our past, present, and future. The video conferencing market is expected to surpass $50 billion by 2026. (Global Market Insights Inc. 2020) 90% of North American businesses are likely to spend more on video conferencing in 2022. (Vox 2021)
Which segment is expected to dominate the web conferencing market?
The solutions segment is expected to account for a major web conferencing market share throughout the forecast period. Some of the software offered by major market players are Zoom meetings and chat, video webinars, Cisco Systems Webex suite, and Adobe’s Acrobat Connect Pro among others.
How big is the video conferencing market?
USD 6.28 billionFortune Business Insights TM has presented this information in its report titled, “Video Conferencing Market, 2022-2029”. The market size stood at USD 6.28 billion in 2021 and USD 6.87 billion in 2022.
What is Zoom’s market share?
What is Zoom market share in the video-conferencing? Zoom has market share of 5.51% in video-conferencing market.
How many people use online meetings?
Zoom had over 300 million meeting participants per day in 2020. Google Meet had over 100 million daily meeting participants in 2020. Microsoft Teams had 250 million active daily users in 2021. Cisco WebEx currently has over 324 million users.
What is the most popular virtual meeting platform?
List of virtual meeting platformsZoom. Zoom is a popular video conferencing platform that is infamous for being easy to use. … Google Meet. Google originally developed Google Meet as a virtual meeting platform for the company’s enterprise customers. … Skype. … Cisco Webex. … Jitsi Meet. … Toasty. … Lifesize. … Jami.More items…•
Who is Zoom’s biggest competitor?
The top Zoom competitors are:Webex.BlueJeans.Google Meet.Microsoft Teams.GoToMeeting.
How much of the market does Zoom own?
Zoom owns 49% of the global market share, and has seen the most substantial year-on-year growth of all the platforms. Despite Microsoft Teams being top in 41 countries, it only has a small global market share of 15% overall, but continues to gain popularity with a 5% growth from 2020.
What percentage of meetings are virtual?
Here’s what we found: Since the start of COVID-19, 50% of employees have had at least one to three hours of virtual meetings per week. While this is a smaller average than that of in-person meetings, it still comes with some issues.
How many users does Zoom Pro have?
With a Zoom Pro license, you can host unlimited group meetings with up to 100 people and can collaborate as long as you need, without worrying about time limits or having to start another meeting.
How many users does Zoom have 2020?
300 millionYuan stated in a blog post that over the course of May 2020, Zoom was seeing 200 million daily meeting participants. The following month, this figure had risen to 300 million. This compares to 10 million in December 2019. The UK cabinet and 90,000 schools in 20 countries were among new users of the app.
Is Zoom the best video conference?
Zoom also has the best video resolution of any video conferencing platform, though there are limitations. You get high-definition resolution with the free version and up to 1080p with paid accounts. The quality of the meeting is also related to the quality of your internet connection.
Is Zoom the best video conferencing app?
Out of all the video conferencing platforms, Zoom offers the most reliable audio and streaming. You should have the least amount of latency and the highest-possible frame rate for your internet connection with Zoom. On average, these are the performance stats that I get with my Zoom connection.
Who runs zoom?
Eric YuanEric Yuan is the founder of Zoom, a video communications tool that went public in April 2019; Zoom usage surged during the coronavirus pandemic. He was previously a manager of WebEx at Cisco, which acquired the video conferencing company in 2007.
Which country dominates the web conferencing market?
North America dominated the global web conferencing market, and the trend is expected to continue due to the presence of a vast number of multinational organizations. The U.S market has many financial institution headquarters where they need to connect to various countries for trade exchange.
What is webconferencing?
The Web Conferencing makes use of internet technologies, mostly TCP and IP linkage. Services may allow real-time as well as point-to-point communication coupled with multicast communications from one transmitter to multiple receivers.
What is web connect?
Web Connect is an effective way to exhibit products online. It displays information and team up with vendors and customers. In a web conference, every member from their workstation is linked to another user with the help of the internet.
Which countries are expected to show significant growth in the business process outsourcing sector?
Countries including India, Philippines, China, Indonesia, and Vietnam are expected to show significant growth in the business process outsourcing sector. Europe is expected to show a steady growth mainly on account of the growing service sector in countries including the UK, Ireland, France, and Sweden.
Web Conferencing Market Overview
The global web conferencing market is anticipated to record a CAGR of 14.2% during the 2022-2032.
Key Segments
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Key Questions Answered in the Report
The global web conferencing market is expected to register a CAGR of 14.2% from 2022 to 2032.
How big is the web conferencing market?
The Web Conferencing market size is USD 12.58 Billion in 2020 and is expected to reach USD 19.02 Billion by 2025, at a CAGR of 8.6%.
What is the market size of videoconferencing?
The Video Conferencing System Software Market size is estimated at USD 8.24 Billion in 2020 and is expected to hit USD 12.80 Billion by 2025, at a CAGR of 9.2%. A video conference is a live, visual contact for communication purposes between two or more individuals who reside in separate locations.
What are the factors that are expected to accelerate the growth of the web conferencing market?
The enhanced user interface, product simplification and smart workflow integrations provided by web conferencing are some of the key factors that are expected to accelerate the growth of web conferencing market size. Also many organizations are employing flexible work from home options and reducing employee travel to cut costs.
How much is the video conferencing market in 2021?
The video conferencing market is estimated at $7.9 billion in 2021. Analysts expect the market to grow to an estimated $9.7 billion in 2022. (Vox 2021) North America commands 39% of the video conferencing market in 2021. (Grandview Research 2021) Back to top | Sources.
What is Hopin conference?
Hopin is a booming virtual conference platform. What’s remarkable is their incredible growth to $5.65 billion over the past year. The startup recently acquired Streamable and Jamm after raising $400m Series C funding in March 2021 (Business Insider). The company grew from 8 to 350 employees in 2020. They also hosted conferences for American Express, the Financial Times, and the United Nations (Wired).
How much revenue does Zoom generate?
Zoom generated $2.6 billion in revenue in 2020, a 317% increase year-over-year. (Zoom 2021) Zoom had over 470,000 business customers as of December 2020. (Zoom 2021) Zoom’s valuation exceeded $100 billion during the pandemic, a 383% increase from January 2020.
How many people will be working remotely in 2025?
By 2025, 36.2 million Americans will be working remotely. That represents an 87% percent increase from pre-pandemic levels. (Upwork 2020) 79% of workers think video conferencing is at the same level or more productive than in-person meetings.
Will video conferencing change the nature of work?
69% of people agree that the COVID-19 pandemic will permanently change the nature of work. Video conferencing software made that possible. This market exploded in 2020 after the coronavirus hit. Most companies sent their entire workforce home for the foreseeable future.
What is the global video conferencing market size?
Listen to Audio Version. The global video conferencing market size was USD 5.77 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with video conferencing witnessing a positive demand shock across all regions amid the pandemic.
What is video conferencing?
Video conferencing is a real-time visual communication session between one or more users, irrespective of their locations. Integration of advanced technologies such as the internet of things (IoT), artificial intelligence (AI), and cloud technology is expected to drive the growth of the market in the forthcoming years.
What is global market research?
The global market research report highlights leading regions worldwide to offer a better understanding of the user. Furthermore, the report provides insights into the latest video conferencing market trends and analyzes technologies deployed rapidly globally. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.
How much will the global market grow in 2021?
The market is projected to grow from USD 6.28 billion in 2021 to USD 12.99 billion in 2028 at a CAGR of 10.9% during the 2021-2028 period.
How many people will use Zoom in 2020?
According to the Wired UK, in 2020, Zoom added 2.22 million monthly active users.
When did Facebook launch Messenger Rooms?
For instance, in April 2020 , Facebook, Inc. launched its Messenger Rooms solution, allowing end-users to conduct video conferences with more than 50 people.
What is the video conferencing market?
The global video conferencing market size was valued at USD 4.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.4% from 2021 to 2028. Factors such as the globalization of businesses, geographically scattered operations, and the rising adoption of remote working models are expected to drive market growth over the forecast period. The rapid adoption of video conferencing solutions in the telemedicine and education sectors is also anticipated to play a pivotal role in the growth of the market. Furthermore, lockdowns implemented amid the COVID-19 pandemic globally have resulted in a massive rise in demand for video conferencing and teleconferencing solutions as businesses and individuals sought ways of remaining connected.
What is the hardware market in 2020?
The hardware segment dominated the market in 2020 with a revenue share of over 47%. The growth can be attributed to the increasing development and adoption of endpoints such as laptops, smartphones, and desktops equipped with high-resolution cameras, microphones, and speakers. As several organizations have implemented the work from home model in 2020, there has been a decline in the demand for and investments in enterprise-based hardware. This trend has also led companies to invest more in individual products rather than enterprise hardware.
What is video endpoint?
Conference video endpoints are room-based hardware solutions that are fixed, installed, and configured in meeting rooms and boardrooms. These are all-in-one systems that do not require additional hardware or software, as the codec communicates with other endpoints and transfers video signals and data. Before the COVID-19 pandemic, the growth prospects of enterprise-based video conferencing solutions were estimated to be robust, based on increased adoption in enterprise conferencing as a mode for communication and collaboration among workers.
What is the on-premise segment of video conferencing?
The on-premise segment dominated the video conferencing market in 2020 by capturing a revenue share of over 59%. This can be attributed to the increasing adoption of on-premise deployment by large organizations in response to the growing concerns regarding data theft and effective maintenance of information security systems. However, the segment is expected to witness slow growth over the forecast period owing to the growing prominence of cloud-based solutions. In response to this trend, companies have also started moving to the cloud revenue generation model. For instance, Avaya, Inc. transformed its revenue generation model from legacy on-premise to cloud.
Is work from home a trend in 2020?
As several organizations have implemented the work from home model in 2020, there has been a decline in the demand for and investments in enterprise-based hardware. This trend has also led companies to invest more in individual products rather than enterprise hardware.
Latest Trends
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Driving Factors
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Increasing Adoption of Unified Communication as a Service (UCaaS) to Drive the Market Unified Communication as a service (UCaaS), eliminates the need for on-premise equipment and enables the business to run the applications on the cloud. UCaaS has elevated the level of online conferencing and communication services. Furthermore, enterprises have started leveraging inc…
Restraining Factors
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Lack of Security and Data Privacy is Likely to Restrict Market Growth Lack of security and data privacy is observed to be a significant market restraint. This software includes not only voice and video, but it also includes file and application sharing, desktop sharing consisting of confidential information. As a result, security becomes an essential component for the end-user. The inabilit…
Regional Insights
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To get more information on the regional analysis of this market, Request a Free sample Asia Pacific Expected to be Competitive with a High Number of Telecom Operators and Conferencing Service Providers Geographically the market is analyzed across five major regions including North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The regions are fur…
Key Industry Players
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Market Players to Extend Enhanced Capabilities to Existing Products to Promote Their Services The market players such as Cisco, Zoom Video Communications, Inc. intend to integrate enhanced technologies such as artificial intelligence, and machine learning among others with their existing product portfolio to promote their services in the market. Technological advanced …
Key Industry Developments
- February 2020 – Fuze, Inc. announced integration with Microsoft Teams. The integration of Fuze and Microsoft teams will enable the users to organize meetings with ease. With this integration, the u…
- March 2019 – Bharti Airtel Limited collaborated with Zoom Video Communications, Inc. to launch high quality unified communications service offering a secure and integrated platfor…
- February 2020 – Fuze, Inc. announced integration with Microsoft Teams. The integration of Fuze and Microsoft teams will enable the users to organize meetings with ease. With this integration, the u…
- March 2019 – Bharti Airtel Limited collaborated with Zoom Video Communications, Inc. to launch high quality unified communications service offering a secure and integrated platform for web & video…
Report Coverage
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The Web Conferencing Market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factor…