The web conferencing software market to drive the growth of the
Pune, India, August 03, 2021 (GLOBE NEWSWIRE) – Fortune Business Insights offers a detailed overview of the global market in a report titled the Global Web Conferencing Software Market the size is expected to reach $ 10.46 billion by the end of 2027. Growing internet penetration, coupled with increasing use of smartphones, will lead to wider adoption across the world. According to a report published by Fortune Business Insights, titled “Web Conferencing Software Market Size, Share and COVID-19 Impact Analysis, By Component (Solution & Services), By Deployment (Hosted Web Conferencing, On-Premises Web Conferencing, Managed Web Conferencing, and Software as a)” service (SaaS)), by end-use (education, government, healthcare, IT and telecommunications, BFSI, manufacturing, media and entertainment and others) and regional forecast, 2020-2027, ”the market was worth $ 3.62 billion in 2019 and will post a CAGR of 14.3% during the forecast period, 2020-2027.
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As the name suggests, Web Conferencing Software Market allows multiple people in an organization to hold meetings over the Internet. It is also called video conferencing software and it is used to conduct discussions and meetings between people who cannot physically meet. The availability of free and open source cloud platforms has been a pioneer in the use of this software across the world. The increasing penetration of the Internet, coupled with the presence of several large-scale manufacturers across the globe, bodes well for the growth of the overall market in the years to come. Technological advancements have certainly played a huge role in the growth of the market in recent years. The availability of high speed communication networks has provided the growth platforms for companies operating in the market.
North America becomes dominant; The presence of several large-scale companies will bode well for the growth of the market.
The report analyzes the latest web conferencing software market trends in five major regions including North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Among all regions, the North American market is expected to become dominant in the coming years. The presence of several large companies in several countries around the world has been instrumental in the growth of the market in recent years. The massive investments in technological intervention by large companies in this region will have a huge impact on the growth of the market. In 2019, the market in North America was worth 1.85 billion and this value is expected to increase at a considerable rate in the years to come. The Asia-Pacific web conferencing market is expected to be a highly competitive space due to the increasing internet penetration in several countries in the region coupled with the increasing use of smartphones.
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Some of the key questions this report answered:
- A detailed overview of the Web Conferencing Software market will help clients and businesses to strategize.
- Influencing factors that drive demand and the latest market trends.
- Market forecast for the global web conferencing software market divided into segments such as region, product, application, end user, technology etc.
- What trends, challenges, and hurdles will impact the development and sizing of the global Web Conferencing Software market?
- SWOT analysis of each key player defined with their profile and Porter’s five forces analysis to complete the same.
- What are the market growth dynamics or is the market carrying over the forecast period?
- Which region could harness the highest market share in the coming era?
- What category of application / end user or what type of product can look for incremental growth prospects?
- What targeted approaches and constraints are holding back the demand for the Web Conferencing Software market?
Cisco’s AI-Powered Web Conferencing Platform Amid Increasing Demand During Pandemic
The report encompasses several factors which have contributed to the growth of the overall market in recent years. Among all the factors, the increasing number of product innovations has had the greatest impact on the growth of the market. Given the massive demand for web conferencing software during the Covid-19 pandemic, several companies are looking to maximize the situation by introducing new products with advanced concepts. In addition, products introduced before the pandemic took off during the epidemic. In January 2020, Cisco Systems announced the launch of new AI-based voice intelligence capabilities for its WebEx meetings. This step will provide a more improved version of the previous real-time experience in its products. The growing number of these innovative products will have a huge impact on the growth of the overall market in the years to come.
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Scope and segmentation of Web Conferencing Software Market Share Report:
|Cover of the report||Details|
|Forecast period||2020 to 2027|
|Forecast period 2020 to 2027 CAGR||14.3%|
|2027 value projection||$ 10.46 billion|
|Year of reference||2019|
|Market size in 2019||$ 3.62 billion|
|Historical data for||2016 to 2018|
|Number of pages||160|
|Covered segments||Making up; Deployment; Final user; and geography|
|Growth drivers||Growing demand for knowledge-driven mobile learning, webinars and mobile collaboration to drive market growth|
|Growing adoption of Unified Communication as a Service (UCaaS) to drive the market|
|Pitfalls and challenges||Lack of data security and privacy is likely to restrict market growth|
List of Key Companies presented in the Web Conferencing Software Market report are:
- Adobe, Inc. (California, United States)
- Alphabet, Inc. (California, United States)
- Arkadin (Singapore)
- AT&T, Inc. (Texas, United States)
- Bridgit (Ontario, Canada)
- Cisco Systems, Inc. (California, United States)
- Citrix Systems, Inc. (Florida, United States)
- Communiqué Conferencing, Inc. (Reston, Virginia)
- Fuze, Inc., (Massachusetts, United States)
- Glance Networks, Inc. (Massachusetts, United States)
- IBM Corporation (New York, United States)
- Microsoft Corporation (Washington, United States)
- Zoom Video Communications, Inc. (California, United States)
May, 2018 – Glance Network Inc. has announced the availability of Glance Mobile App Sharing. The product is an omnichannel visual engagement platform.
Quick Buy – Web Conferencing Software Market Research report:
Detailed Table of Web Conferencing Software Market
- Definition, by segment
- Research methodology / approach
- Information source
- Market dynamics
- Macro and micro economic indicators
- Drivers, constraints, opportunities and trends
- Impact of COVID-19
- Short term impact
- Long term impact
- Competition landscape
- Business strategies adopted by key players
- Consolidated SWOT analysis of the main players
- Porter’s Five Forces Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Web Conferencing Market Overview and Analysis, By Segments
- Global Web Conferencing Software Market Size Estimates and Forecasts (Quantitative Data), by Segments, 2016-2027
- By component (value)
- By deployment (value)
- Hosted Web Conferencing
- Onsite web conferencing
- Managed web conferencing
- Software as a Service (SaaS)
- By end user (value)
- Health care
- IT and Telecommunications
- Banking and financial services
- Media and entertainment
- Others (Retail trade, transport)
- By region (value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
COT continues … !!!
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