Web Conferencing Market Outlook To 2024: Key Type Categories (On-Premise, Hosted), Organization Size (SMEs, Large Enterprises), Application (BFSI, Retail, Healthcare, Education, Government), Regional Segmentation, Competitive Dynamics, M&A Insights, Pricing Analysis (IPP, OPP, RAP) And Segment Forecast
May 18, 2017, Tampa, Florida – Global web conferencing market is expected to reach USD 8.82 billion by 2024, according to a new research study published by Ameri Research. The market is characterized by growth, innovation, and technology advancements. The overall market is seeing accelerated demand driven by lower prices, simplification and migration from stand-alone audio to video and web conferencing.
Elevating adoption across varied application areas including government, BFSI, healthcare, education, and retail is another factor driving market growth over the forecast period. Additionally, as the number of applications increase, organizations emphasize on a more flexible deployment model resulting in hybrid solutions and private clouds to meet the evolving customer demand.
The industry is witnessing accelerated growth in merger and acquisitions with a number of notable players collaborating with each other to cut competition and penetrate into this high potential market. The market for team collaboration is getting increasingly crowded with snowballing number of new entrants.
Click the link below to view the report description: –https://www.ameriresearch.com/product/web-conferencing-market-outlook-2024
Key findings from the study: –
- The on-premise type segment captured a sizeable portion of the market in 2016 and is expected to witness considerable growth over the next few years. This is accredited to the consumer preference for on-premise solutions owing to concerns related to privacy and security
- Small & Medium Enterprises (SMEs) held majority market share in 2016 and accounted for more than 60% of the overall revenue in 2016. This is ascribed to the low-cost communication service offered by vendors for real-time video conferencing
- BFSI emerged as the dominant application segment in 2016 owing to high product adoption to reduce costs, accelerate decision making, reduce travel, and improve customer service. Education sector is also anticipated to exhibit high growth over the forecast period primarily owing to deliver online education in schools and universities
- North America accounted for the majority market share in 2016 attributing to the growing emphasis on employee mobility in the region. Asia Pacific is expected to exhibit robust growth over the next seven years on account of rapid rise in the number of organizations in the region
- Key industry participants include Cisco WebEx, Elluminate, Genesys Meeting Center, GoToWebinar, IBM Sametime, Oracle Beehive, and Skype. The industry is very competitive in nature with a number of well-established players governing the market
- Web Conferencing Market by Type (Revenue, USD Billion)
- Web Conferencing Market by Organization Size (Revenue, USD Billion)
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- Web Conferencing Market by Application (Revenue, USD Billion)
- Web Conferencing Market by Region (Revenue, USD Billion)
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
- North America