According to the latest report by IMARC Group, titled “Online Corporate Meeting Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global online corporate meeting services market reached a value of US$ 5.0 Billion in 2021. Online corporate meeting services are a communication solution utilized to facilitate online meetings between an organization and employees. These services are available over the internet through video conferencing systems, voice sharing applications, and camera-embedded devices. They offer effective business communication through live meetings, presentations, training sessions, and conferences. These services are affordable and easily accessible to the employees, which contributes to a free and transparent interaction between all participants. Online meeting services enable easy connectivity with geographically dispersed teams, which improves the overall work productivity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Online Corporate Meeting Services Market Trends:
The global outbreak of coronavirus disease (COVID-19) and the implementation of lockdown and social distancing norms in numerous countries have influenced the everyday workings of most companies. As a result, organizations are trying to implement effective business communication solutions through various online applications, such as Microsoft Teams, Zoom, and Google Meet. This represents one of the major factors driving the global online corporate meeting services market growth. Additionally, the rising trend of globalization and the availability of high-speed internet have led to the emergence of virtual workspaces, which is supporting the market growth. Moreover, small- and medium-sized organizations are relying on online services for daily operations, which provides various features like screen sharing, record meetings, and data sharing in an effective and secured manner. Furthermore, workspaces are incorporating cloud-based services to enhance the user experience, which is another factor contributing to the market growth. Looking forward, the market is expected to reach a value of US$ 7.1 Billion by 2027, registering a CAGR of 6.04% during 2022-2027.
- On the basis of the service type, the market has been bifurcated into online corporate video conferencing services (VCS) and online corporate web conferencing services (WCS).
- Based on the meeting type, the market has been divided into small, medium and large sized meetings.
- On the geographical front, the market has been categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape has been studied, along with the detailed profiles of the key players operating in the market. Some of these include Adobe Inc., Avaya Inc, Blue Jeans Network Inc., Citrix Systems, Inc., AT&T Inc., Bridgit Inc., Zoho Corporation, Newrow_ Inc., Vidyo Inc., BT Group, ClickMeeting, Communiqué Conferencing Inc., EyeNetwork, Fuze, Inc., and Cisco WebEx.
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