Global Web Conferencing Market, By Component (Solution, Services), Deployment (Managed Web Conferencing, On-Premises Web Conferencing, Hosted Web Conferencing, Software-as-a-Service), End Use (Education, Healthcare, IT and Telecommunications, Manufacturing, Media and Entertainment, Government, Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
Web conferencing has emerged as a crucial component of business processes throughout the world. The continuous digitization across various industry verticals has brought many changes in the recent past. Businesses have expanded their work base, allowing employees to work from remote locations. This technology has become a generic platform for the key application, such as presentations, training events, lectures, and meetings, especially after the outbreak of COVID-19. Google decided to increase the number of participants in Google Hangouts from 10 to 25 for accruing more customers for web conferencing.
Global Web Conferencing Market was valued at USD 16.62 billion in 2021 and is expected to reach USD 24.93 billion by 2029, registering a CAGR of 5.20% during the forecast period of 2022-2029. IT and Telecommunications account for the largest end use segment in the respective market owing to the high use of web conferencing to optimize travel expenses. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Web conferencing consist of all kinds of collaborative services that are online, such as webinars (web seminars), web meetings and webcasts. Numerous enterprises of all sizes are widely accepting service to engage customers, reach them and deliver an accentuated service.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Solution, Services), Deployment (Managed Web Conferencing, On-Premises Web Conferencing, Hosted Web Conferencing, Software-as-a-Service), End Use (Education, Healthcare, IT and Telecommunications, Manufacturing, Media and Entertainment, Government, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
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Market Players Covered
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Microsoft (US), Huawei Technologies Co., Ltd. (China), Cisco Systems, Inc. (US), Adobe. (US), Zoom Video Communications, Inc. (US), Google LLC (US), Avaya Inc. (US), LogMeIn, Inc. (US), Logitech. (US), Barco. (Belgium), StarLeaf. (UK), Pexip® AS (Norway), Amazon Web Services, Inc. (US), Blue Jeans Network Inc. (US), Enghouse Systems Limited (Canda), Qumu Corporation (US), Lifesize (US), Kaltura, Inc. (US), Kollective Technology, Inc. (US), Sonic Foundry (US), and Fuze inc. (US), among others
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Market Opportunities
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Web Conferencing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Integration of Advanced Technologies
The rise in the integration of technologies, such as Internet of Things (IoT), machine learning (ML), and Artificial Intelligence (AI) in video conferencing products and solutions acts as one of the major factors driving the web conferencing market. These technologies assist companies in incorporating advanced features to their existing video conferencing products and solutions.
- Advent of Various Tools
The rise in the advent of various tools such as Zoom and Microsoft Teams to help classmates connect with each other and their tutors accelerate the market growth. During the outbreak of COVID-19, digital learning was highly adopted to stay in touch with each other through online medium.
- Shift to Digital Learning
The rise in the shift towards digital learning to acquire personalizing education further influence the market. The continuous developments helping students to set both the pace and path of their learning assist in the expansion of the market further.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the web conferencing market.
Opportunities
Furthermore, emergence of 5G network and enhancement in desktop features, such as touch screen control extend profitable opportunities to the market players in the forecast period of 2022 to 2029. The rise in video conferencing hardware sector will further expand the market.
Restraints/Challenges
On the other hand, issues of privacy and security, along with network infrastructure difficulties are expected to obstruct market growth. Also, internet bandwidth and technical glitch issues and tapping the non-agile market are projected to challenge the web conferencing market in the forecast period of 2022-2029.
This web conferencing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on web conferencing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Web Conferencing Market
COVID-19 had a positive impact on the web conferencing market due to the rise in number of industry verticals massive open online courses (MOOCs) during the outbreak of COVID-19. An increase in number of enterprises deploying web conferencing was witnessed for various purposes such as digital learning, organizing meeting and seminars, corporate eLearning and training, career development, and college preparations, among others. The web conferencing market is expected to witness high growth in the post-pandemic scenario owing to the rise in usage of various media platforms among consumers.
Recent Developments
- Microsoft joined hands with SAP’s intelligent suite of Solution in January’2021 to build new integrations between Microsoft Teams and SAP Solution, such as SAP SuccessFactors, SAP Customer Experience and SAP S/4HANA.
- Zoom Video Communications signed for partnership with Lumen in September’2020 for enabling Lumen to offer Zoom as part of its Unified Communications and Collaboration Suite. The move will improve the user experience for the Unified Communications and Collaboration Suite.
Web Conferencing Market Scope and Market Size
The web conferencing market is segmented on the basis of component, deployment and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Solution
- Services
Deployment
- Managed Web Conferencing
- On-Premises Web Conferencing
- Hosted Web Conferencing
- Software-as-a-Service
End Use
- Education
- Healthcare
- IT and Telecommunications
- Manufacturing
- Media and Entertainment
- Government
- Others
Web Conferencing Market Regional Analysis/Insights
The web conferencing market is analyzed and market size insights and trends are provided by country, component, deployment and end use as referred above.
The countries covered in the web conferencing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the web conferencing market due to the presence of financial institution headquarters where they need to connect to various countries for trade exchange within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in need to establish technologies for connecting in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Web Conferencing Market
The web conferencing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to web conferencing market.
Some of the major players operating in web conferencing market are
- Microsoft (US)
- Huawei Technologies Co., Ltd. (China)
- Cisco Systems, Inc. (US)
- Adobe. (US)
- Zoom Video Communications, Inc. (US)
- Google LLC (US)
- Avaya Inc. (US)
- LogMeIn, Inc. (US)
- Logitech. (US)
- Barco. (Belgium)
- StarLeaf. (UK)
- Pexip® AS (Norway)
- Amazon Web Services, Inc. (US)
- Blue Jeans Network Inc. (US)
- Enghouse Systems Limited (Canda)
- Qumu Corporation (US)
- Lifesize (US)
- Kaltura, Inc. (US)
- Kollective Technology, Inc. (US)
- Sonic Foundry (US)
- Fuze inc. (US)
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