Market Size –
The online corporate meeting services market size has grown rapidly in recent years. It will grow from <b>$5.57 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. </b> The growth in the historic period can be attributed to business continuity solutions, globalization and remote work trends, cost efficiency and time savings, enhanced communication tools, scalability and accessibility.
The online corporate meeting services market size is expected to see rapid growth in the next few years. It will grow to <b>$9.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. </b> The growth in the forecast period can be attributed to continued remote work culture, hybrid work environments, virtual events and webinars, business continuity and disaster recovery, enhanced user experience. Major trends in the forecast period include global collaboration requirements, virtual event hosting, user experience and accessibility, technological advancements, hybrid work environments.
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Scope Of Online Corporate Meeting Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Online Corporate Meeting Services Market Overview
Market Drivers –
The increasing adoption of virtual meeting apps is significantly contributing to the growth of the online corporate meeting services market. Virtual meeting apps are video and audio apps and software that connect individuals through the internet. This software typically incorporates video conferencing, chat, responses, and screen sharing options. The recent increase in demand for virtual meeting software is attributable to the gradual move toward remote work operations. This boosts the demand towards the use of online corporate meeting services. For instance, in July 2021, Sensor Tower, a US-based market intelligence and performance metrics company in their article stated that MAUs for Zoom, Microsoft Teams, and Google Meet increased 151% year on year in H1 2021. Furthermore, in Q1 of 2020, there were 147.7 million downloads of video conferencing apps which rose to 479 million downloads in Q2 of 2020. Therefore, an increase in the adoption of virtual meeting apps will drive the online corporate meeting services market.
Market Trends –
Major companies operating in the online corporate meeting services market are focused on introducing innovative virtual conference platforms, such as Zoom Events, to meet the increasing demand for immersive and engaging virtual experiences. Zoom Events provides a comprehensive solution for event organizers to host virtual and hybrid events of any size. It brings together the features of Zoom webinars, Zoom meetings, and Team Chat into one platform, offering a seamless experience for both organizers and attendees. For instance, in October 2022, Zoom Video Communications Inc., a US-based software company, launched Zoom Events, a powerful and flexible platform that can help you create successful virtual and hybrid events. With its variety of features, customization options, and add-on features, Zoom Events can meet the needs of businesses and organizations of all sizes.
The online corporate meeting services market covered in this report is segmented –
1) By Service Type: Online Corporate VCS, Online Corporate WCS
2) By Product Type: Voice, Video
3) By Meeting Type: Small Size Meeting, Medium Size Meeting, Large Size Meeting
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Regional Insights –
North America was the largest region in the online corporate metting services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online corporate meeting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the online corporate meeting services market report are Infinite Conferencing lnc., HP Virtual Rooms, AT&T Connect Support, Communique Conferencing, Glance Networks, Citrix Systems Inc., LifeSize Communications, InstantPresenter, Intercall Nursecall Systems, Avaya Inc., Fuze, New Row, BT Conferencing, Bridgit, Adobe Inc., ClickMeeting, Zoho Corporation, Glowpoint, EyeNetwork, Blue Jeans Network, Conference Calling, Onstream Meetings, UberConference, Orange Business Services, Microsoft Teams, Skype for Business, TeamViewer, GlobalMeet, Cisco Webex Meetings, RingCentral Meetings
Table of Contents
1. Executive Summary
2. Online Corporate Meeting Services Market Report Structure
3. Online Corporate Meeting Services Market Trends And Strategies
4. Online Corporate Meeting Services Market – Macro Economic Scenario
5. Online Corporate Meeting Services Market Size And Growth
…..
27. Online Corporate Meeting Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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