Global Web Conferencing Market Report and Forecast 2024-2032

Global Web Conferencing Market Outlook

The global web conferencing market size is projected to grow at a CAGR of 8.40% between 2024 and 2032. The major drivers of the market include rising adoption of web conferencing by companies and education sector and increasing remote jobs.

Key Trends in the Market

Web conferencing is a type of online service that allows interaction of two or more people from different locations in real time. It is known for providing webcast, online meeting, and webinar solutions and can also allow hosting of online events.

• Integration of the Internet of Things and artificial intelligence, among other developed technologies in web conferencing helps automate tasks such as book meeting rooms, enable screen sharing, and reschedule calls which has enhanced its popularity among working professionals.

• Rising popularity of online and mobile banking is favouring the use of web conferencing solutions owing to their safe, secure, and reliable features. These services are mostly used by financial advisers, loan officers, and customer service personnel, aiding the web conferencing market growth.

• The growing trend of work from home and the need to make faster decisions and avoid high travelling costs are resulting in an increased demand for web conferencing and virtual workforce management.

Market Analysis

Based on end use, the market is divided into education, government, healthcare, IT and telecommunication, banking and financial services, manufacturing, and media and entertainment, among others. On the basis of component, the market is segmented into software, services, and hardware, among others, with hardware further divided by type into camera, microphone, and others.

By deployment, the web conferencing market is classified into hosted web conferencing, on-premises web conferencing, managed web conferencing, and software-as-a-service (SaaS), among others. Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by Component

The hardware segment is expected to account for a significant share of the web conferencing market over the forecast period owing to the growing need for smartphones and laptops equipped with high resolution speakers, microphones, and cameras. This is being supported by the utilisation of online meeting solutions such as Microsoft teams, Zoom, and Skype. Moreover, the technological advancements in the field of artificial intelligence and augmented reality have led to the development of headsets with advanced features, resulting in their increased adoption.

Market Share by Region

North America is anticipated to account for a significant share of the market owing to the rising adoption of video conferencing by various companies and organisations in the region. This is aided by the increasing popularity of remote work and growing trend of online classes in educational institutions. The presence of major key players and the early adoption of emerging technologies are aiding the web conferencing market growth in North America.

Competitive Landscape

Adobe Inc. was founded in 1982 and is headquartered in California, United States. The company is known for its creative software and multimedia products such as acrobat reader, photoshop, and creative cloud.

AURA Presence, LLC is a telecommunications company that was founded in 2013 and is headquartered in Ohio, United States. The company is known for designing and building camera for single and dual screen conference rooms.

Avaya Holdings Corp. was established in 2000 and has its headquarters located in North Carolina, United States. The multinational technology company provides unified communications and contact centre applications, platforms, and devices for team collaborations and other applications.

Other players in the web conferencing market include Cisco Systems, Inc., Huawei Technologies Co., Ltd., Logitech International S.A., Microsoft Corporation, Plantronics, Inc. (HP, Inc.), and Vidyo, Inc., among others.

Key Highlights of the Report