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Web Conferencing Market to Reach $10.46 Billion by 2027; Increasing Product Use in Covid-19 Pandemic to Aid Growth, says Fortune Business Insights™

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Pune, Aug. 20, 2020 (GLOBE NEWSWIRE) — The global web conferencing market size is projected to reach USD 10.46 billion by the end of 2027. The rising internet penetration, coupled with the increasing smartphone use, will lead to a wider adoption across the world. According to a report published by Fortune Business Insights, titled “Web Conferencing Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and 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 Telecommunication, BFSI, Manufacturing, Media & Entertainment, and Others), and Regional Forecast, 2020-2027,” the market was worth 3.62 USD billion in 2019 and will exhibit a CAGR of 14.3% during the forecast period, 2020-2027.
Click here to get the short-term and long-term impact of COVID-19 on this market.Please visit: https://www.fortunebusinessinsights.com/web-conference-software-market-102993
The recent coronavirus outbreak has created a sense of panic across the world. With almost all countries now taking collaborative efforts to curb the spread of the disease, businesses have been forced to shut down. Due to the nature of the spread of the disease, several SMEs are compelled to drop the curtains on their businesses as they could not sustain the losses occurred during the pandemic.However, this has not been the case with web conferencing vendors. On one side, some businesses have been forced to shut down, but on the other side, the web conferencing has been up and running since the pandemic. With most companies implementing work from home (WFH) policies across the world, there has been a surge in the use of web conferencing software in the past few months. With indications of an extended lockdown and WFH policies, the market will continue to benefit from the pandemic in the coming years.Increasing Number of Company Collaborations Is Consequential to Increasing Product InnovationsThe report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product innovations has had the highest impact in a direct as well as indirect manner on the growth of the market. Accounting to the massive potential held by the product, companies are investing heavily towards the development of innovative products; a step that is influence by the rising competition in the global market. As a result, several businesses are looking to collaborate with these tech companies with a bid to implementing their services within the organizations. In March 2018, General Motors announced that it has chosen Microsoft’s services to drive the collaboration platforms within the organization. This platform will help the company connect to its employees that are working within the regional boundaries as well as overseas.The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The presence of several large scale companies in several countries across the world has been pivotal to the growth of the market in recent years. The massive investments in technological intervention by major companies in this region will have a huge impact on the growth of the market. As of 2019, the market in North America was worth 1.85 billion and this value is projected to increase at a considerable pace in the coming years. The market in Asia Pacific is projected to be a highly competitive space due to the increasing internet penetration in several countries across the region, coupled with the increasing smartphone use.Industry Developments:May, 2018 – Glance Network Inc. announced availability of Glance Mobile App Sharing. The product is an omnichannel visual engagement platform.
List of Key Companies Profiled in the Web Conferencing 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)IntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesExecutive SummaryMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Market Share Analysis and Matrix, 2019Key Market Insights and Analysis, By SegmentsGlobal Web Conferencing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Component (Value)SolutionsServicesBy Deployment (Value)Hosted Web ConferencingOn-Premises Web ConferencingManaged Web ConferencingSoftware-as-a-Service (SaaS)By End-user (Value)EducationGovernmentHealthcareIT and TelecommunicationBanking & financial servicesManufacturingMedia & EntertainmentOthers (Retail, transportation)By Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaTOC Continued…!!!
Web Hosting Services Market Size, Share & Industry Analysis, By Type (Shared Hosting, Dedicated Hosting, Collocated Hosting, Virtual Private Server Hosting and Others), By Application (Public Website, Mobile Application, Intranet Site and Online Application), By Deployment (Public Cloud, Private Cloud and Hybrid Cloud), and Regional Forecast, 2019-2026Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others (Energy and Utilities, Education), and Regional Forecast, 2020-2027Video Conferencing Market Size, Share & Industry Analysis, By Type (Telepresence, Integrated, Desktop and Service-based), By Application (Small Room, Huddle Rooms, Middle Rooms, and Large Rooms), By Enterprise Size (Small and Medium Enterprises and Large Enterprises), and Regional Forecast, 2019-2026Team Collaboration Software Market Size, Share & Industry Analysis, By Component (Solutions, Services), By Solutions Type (Conferencing, Communications, Task Management, File sharing & Synchronization, Enterprise Social network), By Deployment Type (On-premise, Cloud), By Organization Size (SMEs, Large Enterprises), By End-User (BFSI, IT & Telecommunications, Manufacturing, Retail & Consumer Goods, Healthcare, & Others) and Regional Forecast,2019-2026
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us:
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