Research Report on Web Conferencing Market for Exploring Various Growth Dimensions

 Web Conferencing Market – 

• Web conferencing refers to communication technologies that enable users to make phone calls using an internet-based program, through software downloaded locally to a computer or tablet, or in an on premise environment. Google Hangouts, Cisco Webex, Zoom Video RingCentral, Community Lifesize, Skype for Business, and others are some of the most prominent web conferencing applications. Users can send text-based messages, attach files, and engage in voice and video chat with these apps.
• The growing demand for online seminars and online workshops is a key factor driving the growth of the web conferencing market globally. It has a feature that allows conferencing sessions to be broadcast to remote locations, and is also used for online workshop interactive conferences. Web conferencing allows business to conduct meetings, workshops, presentations, and demonstrations remotely. The major benefit of web conferencing is that it saves time, money, and resources, which results in saving administrative cost of a company.

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Key Drivers of the Web Conferencing Market

• The trend of remote working is a major factor that drives the demand for web conferencing. Large organizations have scattered operations around the world. Web conferencing solutions allow businesses to communicate through the internet and attend all-important business meetings from anywhere at any time. This beneficial feature of web conferencing is expected to drive the growth of the market. Furthermore, web conferencing enable businesses to engage with external stakeholders such as customers and business partners, which results in sustaining their position and keeps businesses competitive in the market.
• However, lack of technical workforce in developing economies is expected to hamper the growth of the web conferencing market.

Impact of COVID-19 on the Global Web Conferencing Market

The world has undergone extreme economic downturn since the start of Covid-19. At this time, companies are using web conferencing to conduct training and recruitment processes for organizations. For instance, Owl Labs global State of Remote Work survey reported that more than 60% of organizations had adopted the work from home model in the pandemic situation. On the other hand, governments use web conferencing tools to communicate with doctors and administrative personnel across the country.

North America Accounts for Dominant Share of the Web Conferencing Market

• North America holds a prominent share of the web conferencing market due to the growing digitalization in organizations, resulting in increasing demand for web conferencing. Web conferencing helps businesses to establish an active online presence in the market, allowing companies to educate and connect with customers from anywhere at any time. This factor further aids companies to gain customer loyalty and remain competitive in the market.
• The Asia Pacific web conferencing market is expected to expand at the highest CAGR during the forecast period. The continued growth of SMEs in developing economies is a major factor resulting in the growth of web conferencing in the Asia Pacific region. This is because SMEs in the IT sector depend heavily on international clients, and SMEs are   continuously increasing investment in web conferencing solutions as it helps them to provide better services to their clients. This consideration would become more important for increasing adoption of web conferencing in the near future.

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Key Players Operating in the Global Web Conferencing Market

Companies operating in the web conferencing market are increasingly investing in research and development to develop new and innovative techniques to provide web conferencing solutions. The web conferencing market is highly fragmented with the presence of numerous manufacturers in both developed and developing regions. Key players operating in the global web conferencing market include:

• GTmetrix
• SolarWinds Worldwide, LLC.
• Datadog
• LogicMonitor Inc.
• AppDynamics
• SmartBear Software
• New Relic, Inc.
• Pingdom
• Riverbed Technology

Global Web Conferencing Market: Research Scope

Global Web Conferencing Market, by Component

• Solutions
  • Web Performance Monitoring
  • Web Performance Optimization
  • Web Performance Testing

• Services
  • Managed Services
  • Consulting Services
  • Implementation Services

Global Web Conferencing Market, by Deployment

• Cloud-based
• On-premises

Global Web Conferencing Market, by Organization Size

• Large Enterprises
• Small and Medium-sized Enterprises

Global Web Conferencing Market, by End-user

• BFSI
• Automobile
• Healthcare
• Government
• Logistics and Transportation
• Manufacturing
• Media and Entertainment
• IT & Telecom
• Others

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