Web Conference Software Market
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Web Conference Software Market. The growth sectors of the Web Conference Software Market are identified with precision for a better growth perspective.
According to Market Research Future, the global online meeting software market has been segmented based on component, organization size, deployment, end users, and region.
Online meetings have become an essential part of various enterprises, organizations, and other government agencies as they enable them to interact with the clients via virtual meetings, which reduce the traveling time and cost. Moreover, the online meeting software reduces the user to attend the meeting from anywhere irrespective of their location, which allows the team members working on a project from different regions to communicate through web conferencing in any hour of the day. Moreover, web conferencing allows the users to conduct conferencing, presentations, live meetings, and training via the internet particularly on TCP/IP connections.
The global online meeting software market has been segmented based on component, deployment, organization size, and end users.
Based on component, the market has been segmented into software and services. Among these, the software segment accounts the largest market share due to increasing requirement by various organizations and enterprises for conducting web-based video conferencing and meetings. The online meeting software allows the users to record the meeting, allows the user to analyze the meeting agenda and other features which has been driving the market. However, the service segment is accounted to be the fastest-growing segment.
Based on deployment, the global online meeting software market has been segmented as cloud-based and on-premise. The on-premise segment holds a large market share compared to others. The early adoption of on-premise by various organizations and companies for the deployment of various software is a major reason for dominance. However, the cloud-based deployment is account to be the fastest-growing segment during the forecast period due to increasing utilization of cloud-based services among the organization to store the information by reducing the cost of data storage and requirement of real-time data is a major factor driving the segment, which is resulting in the growth of the market.
Based on end users, the global online meeting software market has been segmented as BFSI, IT & telecom, government, healthcare, manufacturing, and others. The BFSI holds the largest market share for the market due to the increasing number of online financial transaction due to increasing investments in various industries and others which is driving the market growth.
The prominent players in the global online meeting market are Nextiva (US), RingCentral, Inc. (US), Jive Communications (US), Vonage (US), Dialpad, Inc. (US), 8x8, Inc. (US), Ooma, Inc. (US), FluentStream Technologies, LLC (US), Zoho Corporation Pvt. Ltd. (India), Zoom Video Communications, Inc. (US), LogMeIn, Inc (US), Cisco Systems (US), Amazon Web Services, Inc. (US), IBM Corporation (US), Microsoft Corporation (US) among others.
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Online Meeting Software Market by Type, Share, Growth and Forecast – 2024 | MRFR
Online Meeting Software Market is assessed to reach USD 6.23 billion by 2024, registering a CAGR of …
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