Online Corporate Meeting Services Market Report

Market Overview:

The global online corporate meeting services market size reached US$ 5.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2027, exhibiting a growth rate (CAGR) of 6.04% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Online corporate meeting services are a mode of communication used between an enterprise and its employees or various stakeholders through video and web conferencing. This service aids in effective communication through media-rich data and voice sharing applications. The user can conduct live meetings, conferences, presentations and training sessions through these services. These services significantly contribute to a free and transparent interaction between all the participants irrespective of their location.

The rising trend of globalization, along with the high internet penetration rate, is one of the key factors driving the market growth. These trends have led to the emergence of the virtual workspace, which is gaining immense preference across the globe, owing to its flexibility. The online corporate meeting service forms an integral part of virtual workspaces where one can instantly collaborate on projects, share their knowledge base and utilize mobile and cloud computing facilities. This also assists in reducing the transportation costs and travel time associated with in-person meetings as well as providing work-time flexibility. Furthermore, the ongoing trend of information technology (IT) consumerization, including increasing adoption of video and mobile conferencing among small and medium-sized organizations to effectively perform daily operations, is also fostering the demand for these services across the globe. Additionally, improved user experience, product simplification, smart workflow mechanisms of web conferencing and reduced operational costs of the organizations are some of the other factors contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global online corporate meeting services market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on service type and meeting type.

Breakup by Service Type:

• Online Corporate VCS (Video Conferencing Services)
  • On-premises VCS
  • Hosted VCS
  • Managed VCS
• Online Corporate WCS (Web Conferencing Services)
  • On-premises WCS
  • Hosted WCS
     

Breakup by Meeting Type:

• Small Size Meeting
• Medium Size Meeting
• Large Size Meeting
   

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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, etc.

Report Coverage: