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Product Overview
Often known as the webinar, a web conference is a sort of real-time contact. It is used by the internet to hold meetings, workshops, and training. In video conferencing, with the aid of the internet, a large number of computer users will simultaneously display the same screen in their browser. This kind of service allows online conference activities. The increasing demand for immersive conferences online workshops around the world is projected to foster growth.
Market Highlights
Global Web Conferencing Market size was registered at USD 3.16 billion in 2019 and is estimated to reach USD 8.09 billion by 2030, registering a CAGR of 9.11% from 2020 to 2030. The increasing demand for immersive conferences online workshops around the globe is projected to foster the growth of the global Web Conferencing Market over the forecast period. Furthermore, the direct customer support that online conferencing services provide is expected to boost market growth shortly. Some of the other factors expected to drive demand growth are the broader deployments and the growing service user base. Furthermore, the rising need for the increasing pace of technological change, flexible working styles, and the ongoing transformation of the workplace are likely to complement demand growth in the coming years. Additionally, the availability of necessary infrastructure and technological developments are some of the other factors which are expected to accelerate market growth in the coming years.
Global Web Conferencing Market Opportunity Analysis
Global Web Conferencing Market: Segments
Global Web Conferencing Market is segmented based on type, downstream field, and region.
By Type (in %), Global Web Conferencing Market, 2019
Software services segment is anticipated to register XX% of the market share during the forecasted period
By type, the market can be segmented into hardware devices and software services. Among these, due to the growing adoption of software tools and platforms the segment is expected to have the largest market share during the forecast period.
By downstream fields (in %), Global Web Conferencing Market, 2019
Education segment accounted for XX% of the nation's volume in 2019
The downstream field segment can be classified into Education, Financial, Medical, Government, and Others. Education segment is expected to register the highest CAGR growth in the market for web conferencing due to the increased usage of web conferencing by schools, colleges, and institutions due to the emergence of the novel coronavirus globally.
Global Web Conferencing Market Dynamics:
Increased demand and technological change to increase the market growth
Increasing demand for immersive conferences online workshops around the globe is projected to foster the growth of the global Web Conferencing Market over the forecast period. Furthermore, the direct customer support that online conferencing services provide is expected to boost market growth shortly. The enhanced user interface, product simplification, and smart workflow integrations provided by online conferencing are some of the key factors expected to accelerate global market growth in the coming years. Moreover, the use of video conferencing eliminates regional barriers for business teams operating at remote locations on complex business ventures. Also, video conferencing helps to minimize expenditures substantially by reducing costs for different operations. These factors are expected to give market players exciting prospects and will fuel global market growth shortly. Some of the other factors expected to drive demand growth are the broader deployments and the growing service user base. Furthermore, the rising need for the increasing pace of technological change, flexible working styles, and the ongoing transformation of the workplace are likely to complement demand growth in the coming years.
Security issues and miscommunication threat to hinder the market growth
Messages passed through these applications get skewed by the noise that contributes to miscommunication. Information protection is another factor expected to hamper demand across the industry shortly. Important discussions over these suites are avoided as users challenge the protection. Information on these applications could be misused due to fraud activities that are expected to adversely affect global product demand
Global Web Conferencing Market: Regions
In terms of value and volume, North America and Europe accounted for XX% of total market volume share in 2019
Due to the growing demand for online conferencing across diverse industries, North America and Europe are regarded as leading segments. Furthermore, the availability of necessary infrastructure and technological developments are some of the other factors which are expected to accelerate market growth in the coming years. Also, with key players increasingly concentrating on untapped opportunities in emerging economies, the APAC region is expected to be experiencing rapid growth over the forecast period.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Global Web Conferencing Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa and Rest of MENA
Global Web Conferencing Market: Impact of COVID-19
Global pandemic COVID-19 has become global stress, not just for human lives, but also for industries across different industry verticals. The COVID-19 disease has infected several million people globally, with an increasing number of active cases daily, the duration of the pandemic is still difficult to predict. In the space of only a few months, there has been a major increase in web conferencing. The current COVID-19 situation has far more people working from home than ever before, prompting businesses to use video conferencing as their primary means of employee communication. And with much of the planet on lockdown and social distancing steps in place, even spending time with friends and family is now largely limited to video calls. From birthday parties for children to corporate meetings with high stakes, online conferencing and video call systems are now being used globally which is spurring the demand for the web conferencing industry. Although there is nothing that replaces in-person communication, there are many things that can be done quickly and easily through web conferencing, so it is anticipated that even in the post-COVID-19 period the use of these platforms will continue to proliferate.
Global Web Conferencing Market: Competitive landscape
New technological advancements in the Global Web Conferencing Market, as well as large production output of the product by key players, are likely to increase the market growth. Moreover, with key players increasingly concentrating on untapped opportunities in emerging economies, the market is expected to experience rapid growth over the forecast period.
Global Web Conferencing Market: Key players
Adobe Systems
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
Cisco Systems
Citrix Systems
IBM
Microsoft
Arkadin
Bridgit
ClickMeeting
Communique Conferencing
Other prominent players
Global Web Conferencing Market report also contains analysis on:
Global Web Conferencing Market segments: -
By Type:
Hardware Devices
Software Services
By Downstream Fields:
Education
Financial
Medical
Government
Others
Global Web Conferencing Market dynamics
Global Web Conferencing Market size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints