Global Web Conferencing Market Report and Forecast 2023-2028

Global Web Conferencing Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global web conferencing market is projected to grow at a CAGR of 5.9% between 2023 and 2028. Aided by the growing need for remote communication solutions and their expanding applications across diverse industries, the market is expected to grow significantly by 2028.

Web conferencing is a form of communication that enables real-time sharing of information, presentations, and collaboration with individuals located in various geographical locations. It's widely used for hosting online meetings, webinars, training, lectures, presentations, and is increasingly becoming integral to corporate communication, education, and government sectors.

The escalating demand for efficient remote communication solutions is the primary driver for the global web conferencing market growth. With the rise of remote work and learning triggered by the global pandemic and maintained by the convenience it offers, the need for effective digital communication tools like web conferencing has surged significantly.

Additionally, the globalisation of businesses has also contributed to the increased adoption of web conferencing solutions, thereby accelerating the web conferencing market development. As enterprises expand their geographical reach, web conferencing provides a cost-effective and efficient solution for real-time collaboration and communication between diverse and dispersed teams.

The applications of web conferencing across various sectors further bolster the web conferencing market expansion. Educational institutions leverage web conferencing for virtual classes and seminars, allowing remote learning opportunities. Corporations utilise web conferencing for training, meetings, presentations, and enhancing employee engagement, while government sectors use it for press conferences and public announcements.

Moreover, technological advancements in web conferencing platforms, like artificial intelligence (AI) integration, high-definition video conferencing, and advanced security features, have made these tools more user-friendly and secure. These improvements have enhanced user experience and trust in web conferencing solutions, thereby driving the web conferencing market growth.

The continued growth in the number of internet users and the increasing penetration of high-speed internet in developing regions also spur the web conferencing market. As internet access expands, more businesses and individuals can leverage web conferencing solutions, resulting in market growth.

Lastly, the shift towards cloud-based solutions is fuelling the web conferencing market demand. Cloud-based web conferencing solutions offer scalability, cost-effectiveness, and easy accessibility, making them highly attractive to businesses of all sizes, particularly small and medium enterprises.

Market Segmentation

The market can be divided based on end use, component, deployment, and region.

Market Breakup by End Use

• Education
• Government
• Healthcare
• IT and Telecommunication
• Banking and Financial Services
• Manufacturing
• Media and Entertainment
• Others

Market Breakup by Component

• Software
• Services
• Hardware
• Camera
• Microphone
• Others
• Others

Market Breakup by Deployment

• Hosted Web Conferencing
• On-Premises Web Conferencing
• Managed Web Conferencing
• Software-as-a-Service (SaaS)
• Others

Market Breakup by Region

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global web conferencing companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Adobe Inc.
• AURA Presence, LLC.
• Avaya Holdings Corp.
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd.
• Logitech International S.A.
• Microsoft Corporation
• Plantronics, Inc. (HP, Inc.)
• Vidyo, Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.