The Global Market for Web Conferencing is Projected to Reach US$3.9 Billion by 2020

Need for Cost-Effective, Real-time Communication to Drive Growth in the Web Conferencing Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Web Conferencing market. The global market for Web Conferencing is projected to reach US$3.9 billion by 2020, driven by the growing need for real-time collaboration among geographically dispersed workforce and businesses enterprises.

Web conferencing is a technology that enables real-time online communication among workers or enterprises, irrespective of the device or location. By enabling collaboration among employees located across different geographies, web conferencing allows enterprises to transform into a digital workplace. Though the main rationale for adopting web conferencing is cost savings, the technology’s ability to save time on business travels, enhance team collaboration, increase productivity and ensure business continuity in times of natural calamities, is also helping strengthen demand in the market. While web conferencing has been widely adopted in developed markets such as the United States and Europe, the technology is now gaining popularity in developing markets.

Globalization of business activities, expanding mobile workforce and increasing adoption among small and medium-sized businesses (SMBs) are driving growth in the global web conferencing market. Ongoing IT consumerization trend, growing need for flexibility in workplaces, and need to improve productivity among businesses are fostering demand growth in the market. The market is also being favored by continuous developments in Internet technology, broadband connectivity speeds, and advances in devices such as web cameras. The emergence of new and improved technologies such as unified communications and Software as a Service (SaaS) are encouraging enterprises to deploy conferencing solutions in a convenient manner and at a lower cost. While the use of mobile apps is still in the nascent stage, vendors are focusing efforts on offering mobile unified communication and collaboration experience to users on their mobile devices through web conferencing apps.

In the coming years, growth in the market is expected to emerge from the relatively under-penetrated market segments, specifically small and medium enterprises. Growth will also be fostered by the technology’s increased penetration into verticals such as retail, education, manufacturing and healthcare. Demand is also expected to increase for “all-in-one collaboration” solutions, which embed both synchronous as well as asynchronous types of communications. Hosted Web Conferencing represents the dominant web conferencing deployment model, globally. The deployment model continues to gain momentum driven by rising customer preference for using cloud for their collaboration requirements. While hosted remains the most popular deployment model, on-premises web conferencing solutions are finding acceptance driven by security and privacy concerns.

As stated by the new market research report on Web Conferencing, the United States represents the largest market worldwide. Asia-Pacific is forecast to register the fastest growth with a CAGR of 11.5% over the analysis period. With several major companies from developed markets such as the United States and Europe setting up their offshore production, development, and processing facilities in low-cost Asian destinations, demand for web conferencing solutions continues to rise in the region.

Major players covered in the report include 3CX, Adobe Systems Incorporated, AnyMeeting Inc., Arkadin, AT&T Inc., Avaya Inc., Blackboard Inc., Broadview Networks Inc., Cisco Systems Inc., Citrix Systems Inc., FuzeBox Inc., Google Inc., InterCall, IBM Corporation, Level 3 Communications Inc., LogMeIn Inc., Microsoft Corporation, Polycom Inc., Premiere Global Services Inc., R-HUB Communications Inc., ReadyTalk, and TeamViewer GmbH, among others.

The research report titled “Web Conferencing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections in US$ Million for all major geographic markets such as US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America and Rest of World. Web conferencing market is analyzed by the segments - Hosted and On-Premises.

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