The Online Corporate Meeting Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Online Corporate Meeting Services Global Market Report 2024, The online corporate meeting services market size has grown rapidly in recent years. It will grow from $5.57 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. 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 $9.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. 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.
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.
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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
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 report table of contents includes:
1. Executive Summary
2. Online Corporate Meeting Services Market Characteristics
3. Online Corporate Meeting Services Market Trends And Strategies
4. Online Corporate Meeting Services Market – Macro Economic Scenario
5. Global Online Corporate Meeting Services Market Size and Growth
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31. Global Online Corporate Meeting Services Market Competitive Benchmarking
32. Global Online Corporate Meeting Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Online Corporate Meeting Services Market
34. Online Corporate Meeting Services Market Future Outlook and Potential Analysis
35. Appendix
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