Global Web Conferencing Market Players Shrinking the Global Distance

The global web conferencing market size was evaluated at $9.67 billion as of 2018 and the web conferencing market is expected to grow at a noticeable compound annual growth rate of 11.34% during the forecast period of 2019 to 2025.

Communication is an inevitable part of a business especially when the business is operating globally. Web conferencing is one such essential tool that acts as an effective medium of communication. According to a market research report by IndustryARC, the global web conferencing market size was evaluated at $9.67 billion as of 2018. Rapidly expanding globalization has emerged the need for real-time communications among the people and organizations. Due to this, the web conferencing market is expected to grow at a noticeable compound annual growth rate of 11.34% during the forecast period of 2019 to 2025.

The report is titled “Web Conferencing Market: By Type (Meetings, Collaborations and Presentations); By End-Use Industry (BFSI, Education, and Manufacturing, IT, Healthcare, and Others) and Geography – Forecast (2019 - 2025).” The report highlights the potential growth, restraints, competitive landscape, growth factors, and other key aspects related to web conferencing market. This report covers web conferencing market Size by type and end-use industry, web conferencing market share by top 5 companies and also the market share by start-ups during the forecast period.

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Global Web Conferencing Market: Leading Segments

By region, North America is the leading segment in the global web conferencing market with 35.17% share of the web conferencing market. This demand share of the region can be credited to the widespread corporate sector in United States of America, where offices extensively use voice and video chat methods for effective communication in their businesses.
Corporate enterprises are the key application of web conferencing with an outstanding CAGR of 16.68% through to 2025. The concept of web conferencing reduces geographical barriers. Also, the web conferencing software is economic to pursue business in remote locations as they cut down on cost unnecessarily spent in traveling.

Global Web Conferencing Industry Analysis

The influence of consumerism in the IT companies is disrupting the team collaboration techniques. Moulded by advancing technology, the web conferencing demands are increasing owing to its convenient and easy access features. Web conferencing is not just limited to corporates, it is applied in countless end-user industries such as healthcare, information technology, military, education, and manufacturing. Web conferencing is gaining popularity among the budding start-up companies and it is aiding them with the appropriate communication technique to cater to their business. Web conferencing also helps in establishing a closer relationship and significantly improves the degree of satisfaction. Web conferencing software such as Skype and Google Duo are tremendously optimizing the web conferencing techniques. Additionally, the introduction of mobile applications of such tools has emerged as a remotely usable technique to establish communication.

Global Web Conferencing Market Trends

The ongoing workplace trend of work-from-home to provide flexibility to the employees is scattering throughout the world. This is opening up numerous opportunities in the global web conferencing market.
Emerging mobile-based business is trending in the web conferencing market. The necessity to execute tasks over the mobile is increasing the productivity and efficiency in the business.
Cloud-based processes are trending in any possible domain of businesses. The uptake of cloud computing has paced up business operations through the readily available web conferencing software on web browsing applications.

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Global Web Conferencing Market: Competitive Landscape

Some of the key companies identified in the report that have made significant developments in the Web Conferencing market are Cisco Systems Inc., Citrix, Microsoft Corporation, Adobe Systems Inc., IBM Corporation, InterCall, AT&T Inc. , Avaya Inc , Google Inc. and Broadview Networks Inc.

Related Reports:

A. Web Real-Time Communication RTC Market

B. Audio Conferencing Services Market

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Release ID: 88912577