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Global Virtual Meeting Software Market: By Component: Solution, Services; By Deployment Mode: On-Premise, Cloud-Based; By Enterprise Size: Large Enterprises, Others; By End Use; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Virtual Meeting Software Market Outlook

The global virtual meeting software market attained a value of about USD 12 billion in 2020. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 24.6% to reach nearly USD 45 billion by 2026.

 

Global Virtual Meeting Software Marke

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The Asia Pacific is Expected to Witness Significant Growth in Virtual Meeting Software Industry

The internet penetration in different regions is an important factor contributing to the growth of the virtual meeting software industry. Owing to the huge population of the Asia Pacific region, approximately 54% of the world’s internet users were recorded from this region in the year 2021. Due to the recent surge in the digitisation of industries and related workstyle- WFH, the number of users in the Asia Pacific is predicted to only increase in the upcoming years. The development in infrastructure and smart city initiatives by governments is also expected to boost the virtual meeting software industry. Additionally, North America has the highest internet penetration in the market owing to the predeveloped infrastructure and technology. In 2016, in terms of the percentage of people who were online, the United States ranked the highest, more than double the percentage of India and significantly higher than that of China. Yet, in terms of the number of internet users, China and India are far above North America.

 

Increased Productivity in WFH workers Boosted the Demand for Virtual Meeting Software

The usage of virtual meeting software among corporate and government organisations has increased in recent years, along with the number of virtual meeting software providers around the world. The market has been boosted by a significant increase in productivity witnessed in work-from-home workers, which led to the allowance of remote work in many firms by 2019. Further, the increased adoption of technologies, such as facial recognition, better compatibility ad security, has a beneficial impact on the growth of the virtual meeting software industry. Moreover, the integration of technology, such as artificial intelligence and cloud-based technology, is expected to provide lucrative prospects for worldwide market advancement.

 

Virtual Meeting Software: Market Segmentation

Virtual meeting software is a software or application that establishes online communication among people. This software typically incorporates video conferencing as well as options such as chat, responses, and screen sharing, etc.

 

Global Virtual Meeting Software Market by Segment

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The market can be divided on the basis of components by:

  • Solution
  • Services

On the basis of deployment modes, the market can be divided into:

  • On-Premise
  • Cloud-Based

The major enterprise sizes of the market are:

  • Large Enterprises
  • Small and Medium Enterprises

The market can be broadly categorised on the basis of its end use segments into:

  • IT and Telecom
  • Manufacturing
  • Education
  • Healthcare
  • Government and Defence
  • BFSI
  • Media and Entertainment
  • Oil and Gas
  • Others

The EMR report looks into the regional markets of virtual meeting software like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Virtual Meeting Software Market by Region

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COVID-19 Pandemic has Significantly Affected the Market for Virtual Meeting Software

The COVID-19 pandemic has significantly increased the growth of the virtual meeting software market. The government imposed lockdowns and shutdowns and other related restrictions throughout the country, due to which most activities had to be digitised. Many companies and businesses started using video conferencing methods to cope with the transformation without halting communication. Zoom, a leading video conferencing company, witnessed over 30x increase in the number of downloads in 2020. The number of daily participants increased from 10 million in December 2019 to 300 million by April 2020. Several companies have adopted video conferencing to train, meet, and coordinate the workflow remotely.

The increase in the involvement of video conferencing in the education and healthcare sector has also increased the demand for virtual meeting software. Starting in 2020, Indian universities and colleges started offering more than 20% of the degrees online, which was prohibited earlier, in order to increase access to higher education and improve the profile of Indian institutions around the world. Many ed-tech start-ups have emerged, offering blended learning, AI-powered experiential learning, and interactive live learning. High costs associated with hardware components of virtual meeting software, such as cameras, virtual devices, and other smartphone devices, restrain the growth of the market. However, the cost is projected to be reduced by integrating and researching new technologies.

 

Key Industry Players in the Global Virtual Meeting Software Market

The report presents a detailed analysis of the following key players in the global virtual meeting software market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Avaya Inc.
  • Google LLC
  • Huawei Technologies Co., Ltd.
  • Microsoft Corporation
  • Lifesize Inc.
  • Zoom Video Communications, Inc
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment Mode, Enterprise Size, End Use, Region
Breakup by Component Solution, Services
Breakup by Deployment Mode On-Premise, Cloud-Based
Breakup by Enterprise Size Large Enterprises, Small and Medium Enterprises
Breakup by End Use IT and Telecom, Manufacturing, Education, Healthcare, Government and Defence, BFSI, Media and Entertainment, Oil and Gas, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Avaya Inc., Google LLC, Huawei Technologies Co., Ltd., Microsoft Corporation, Lifesize Inc., Zoom Video Communications, Inc, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

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

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Virtual Meeting Software Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Virtual Meeting Software Historical Market (2017-2021) 
    8.3    Global Virtual Meeting Software Market Forecast (2022-2027)
    8.4    Global Virtual Meeting Software Market by Component
        8.4.1    Solution
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Services
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Virtual Meeting Software Market by Deployment Mode
        8.5.1    On-Premise
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Cloud-Based
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Virtual Meeting Software Market by Enterprise Size
        8.6.1    Large Enterprises
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Small and Medium Enterprises
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Virtual Meeting Software Market by End Use
        8.7.1    IT and Telecom
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Manufacturing
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
        8.7.3    Education
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2017-2021)
            8.7.3.3    Forecast Trend (2022-2027)
        8.7.4    Healthcare
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2017-2021)
            8.7.4.3    Forecast Trend (2022-2027)
        8.7.5    Government and Defence
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2017-2021)
            8.7.5.3    Forecast Trend (2022-2027)
        8.7.6    BFSI
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2017-2021)
            8.7.6.3    Forecast Trend (2022-2027)
        8.7.7    Media and Entertainment
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2017-2021)
            8.7.7.3    Forecast Trend (2022-2027)
        8.7.8    Oil and Gas
            8.7.8.1    Market Share
            8.7.8.2    Historical Trend (2017-2021)
            8.7.8.3    Forecast Trend (2022-2027)
        8.7.9    Others
    8.8    Global Virtual Meeting Software Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Avaya Inc.
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Google LLC
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Huawei Technologies Co., Ltd.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Microsoft Corporation
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Lifesize Inc.
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Zoom Video Communications, Inc
            11.2.6.1    Company Overview
            11.2.6.2    Product Portfolio
            11.2.6.3    Demographic Reach and Achievements
            11.2.6.4    Certifications
        11.2.7    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Virtual Meeting Software Market: Key Industry Highlights, 2016 and 2026
2.    Global Virtual Meeting Software Historical Market: Breakup by Component (USD Billion), 2017-2021
3.    Global Virtual Meeting Software Market Forecast: Breakup by Component (USD Billion), 2022-2027
4.    Global Virtual Meeting Software Historical Market: Breakup by Deployment Mode (USD Billion), 2017-2021
5.    Global Virtual Meeting Software Market Forecast: Breakup by Deployment Mode (USD Billion), 2022-2027
6.    Global Virtual Meeting Software Historical Market: Breakup by Enterprise Size (USD Billion), 2017-2021
7.    Global Virtual Meeting Software Market Forecast: Breakup by Enterprise Size (USD Billion), 2022-2027
8.    Global Virtual Meeting Software Historical Market: Breakup by End Use (USD Billion), 2017-2021
9.    Global Virtual Meeting Software Market Forecast: Breakup by End Use (USD Billion), 2022-2027
10.    Global Virtual Meeting Software Historical Market: Breakup by Region (USD Billion), 2017-2021
11.    Global Virtual Meeting Software Market Forecast: Breakup by Region (USD Billion), 2022-2027
12.    North America Virtual Meeting Software Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    North America Virtual Meeting Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Europe Virtual Meeting Software Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Europe Virtual Meeting Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Asia Pacific Virtual Meeting Software Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Asia Pacific Virtual Meeting Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Latin America Virtual Meeting Software Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Latin America Virtual Meeting Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Middle East and Africa Virtual Meeting Software Historical Market: Breakup by Country (USD Billion), 2017-2021
21.    Middle East and Africa Virtual Meeting Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
22.    Global Virtual Meeting Software Market Structure

Key Questions Answered in the Report

In 2020, the virtual meeting software market attained a value of nearly USD 12 billion, globally.

The market is projected to grow at a CAGR of 24.6% between 2021 and 2026.

The market is estimated to witness a growing trajectory in the forecast period of 2022-2027 to reach about USD 45 billion by 2026.

The advancement of technology, growing internet penetration, and accelerating digital transformation due to COVID-19 pandemic are the major market drivers of virtual meeting software.

The adoption of work from home and digitisation of healthcare and education sectors are some of the key trends of the market that are expected to influence the market in the upcoming years.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various components in the market are solution and services.

The deployment modes in the market are on-premise and cloud-based.

The major enterprise sizes of the product in the market are large enterprises, and small and medium enterprises.

The different end use segments of the product in the market include IT and telecom, manufacturing, education, healthcare, government and defence, BFSI, media and entertainment, oil and gas, among others.

The major players in the industry are Avaya Inc., Google LLC, Huawei Technologies Co., Ltd., Microsoft Corporation, Lifesize Inc., and Zoom Video Communications, Inc, among others.

Analyst Review

The global virtual meeting software market attained a value of about USD 12 billion in 2020, driven by the accelerating digital transformation due to COVID-19 pandemic. Aided by the adoption of WFH work culture and digitisation of healthcare and education sectors, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 24.6%. The market is projected to reach approximately USD 45 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its components, the virtual meeting software industry can be segmented into solution and services. By deployment modes, the industry is categorised into on-premise and cloud-based. On the basis of enterprise sizes, the industry is divided into large enterprises, and small and medium enterprises. Based on end uses, the industry is segregated into IT and telecom, manufacturing, education, healthcare, government and defence, BFSI, media and entertainment, oil and gas, among others. The major regional markets for virtual meeting software are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Avaya Inc., Google LLC, Huawei Technologies Co., Ltd., Microsoft Corporation, Lifesize Inc., and Zoom Video Communications, Inc, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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