Online Meeting Software Market Size was valued at USD 15.3 Billion in 2022. The Online Meeting Software market is projected to grow from USD 19.1 Billion in 2023 to USD 79.5 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 22.6% during the forecast period (2023 - 2030). Increasing hybrid and remote work environment trend, cost cutting from physical location meeting, increasing traction for online training, improving internet architecture with introduction of 5G and other new technologies drives the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Increasing hybrid and remote work environment trend supports market growth.
With the trend towards hybrid work environments, where employees are working both remotely and in-person, there has been a significant increase in the demand for online meeting software. As more companies adopt this model, the need for effective communication and collaboration tools has become more important than ever before. Online meeting software allows teams to connect virtually and collaborate seamlessly, regardless of their physical location.
Additionally, the COVID-19 pandemic has accelerated the shift to remote work, making online meeting software even more essential for businesses to remain operational. As a result, many online meeting software providers have seen a surge in demand and growth in the market. The trend towards hybrid work environments is expected to continue in the coming years, which will drive further growth in the online meeting software market.
According to Indeed, job listings that mention remote work had tripled since the impact of the pandemic, up from 2.5% averagely in January 2020 to nearly 7.5% in September 2021, with countries like Spain, U.S., France, and the UK seen the greatest surge. Meanwhile, Ladders, a careers site predicted that 25% of professional jobs in North American region is going to be remote by 2022. As per Microsoft’s 2022 Work Trend Index, globally, some 38% of employees now work in a hybrid office.
Figure 1: Work Environment, by Countries, 2022
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Among all countries, France leads the trend of hybrid work environment in 2022 with 50%, while U.S. and U.K supports 34.5% and 40.5% respectively. India due to it diversify work culture and support many companies globally, had traction of 37.3% when hybrid and remote culture is combined. This penetration growth shows the demand of online meeting software globally.
Based on end-user type, the Online Meeting Software market segmentation include BFSI, IT & Telecom, Government, Healthcare, Manufacturing and others. IT and Telecom holds the largest market with a share of more than 36% in 2023. The market of Online Meeting Software for BFSI was valued at USD 5.5 Billion in 2022 and is expected to grow at a CAGR of 23.6% through the forecast period. The demand for online meeting software has increased significantly in the IT and Telecom industries in recent years. With the growth of remote work and the need for collaboration across teams and organizations, online meeting software has become an essential tool for businesses to communicate and work together effectively.
In the IT industry, online meeting software is used for a variety of purposes such as team meetings, project collaboration, training, and customer support. IT professionals often work with remote teams and clients located in different parts of the world, making online meeting software a crucial tool for keeping everyone on the same page.
Similarly, in the Telecom industry, online meeting software is used for a range of purposes such as team meetings, project coordination, customer support, and sales meetings. Telecom professionals often work with clients located in different parts of the world, and online meeting software allows them to connect with them easily and efficiently.
Some of the most popular online meeting software used in these industries include Zoom, Microsoft Teams, WebEx, and Skype. These platforms offer a range of features such as video conferencing, screen sharing, and file sharing, making them ideal for online collaboration and communication. As the demand for remote work and collaboration continues to grow, the demand for online meeting software is expected to increase further in the IT and Telecom industries.
Figure 2: Online Meeting Software Market, by End-User Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Healthcare sector has also seen a sudden surge in the demand of online meeting software and is expected to grow at a CAGR of 20.7% through the forecast period. The demand for online meeting software has also increased in the healthcare industry, particularly since the COVID-19 pandemic began. Healthcare professionals have had to adjust their work practices to accommodate social distancing requirements and remote patient care, leading to an increased need for online meeting software.
Online meeting software is being used in the healthcare industry for a range of purposes such as telemedicine consultations, virtual care coordination, team meetings, and continuing education. Telemedicine consultations have become increasingly popular since the pandemic began, allowing healthcare professionals to connect with patients remotely, reducing the need for in-person visits. It is being used to coordinate care between healthcare professionals across different locations. This is particularly useful for rural areas where healthcare services are limited, and patients may need to travel long distances for care. Online meeting software is being used in healthcare is continuing education. Healthcare professionals need to stay up to date with the latest medical knowledge and practices, and online meeting software allows them to attend virtual conferences and training sessions from anywhere in the world.
Some of the most popular online meeting software used in the healthcare industry include Zoom, Microsoft Teams, Doxy.me, and WebEx. These platforms offer a range of features such as video conferencing, screen sharing, and file sharing, making them ideal for virtual patient care and collaboration between healthcare professionals. As the healthcare industry continues to adapt to new ways of working, the demand for online meeting software is likely to continue to increase.
March 2023: Video conferencing platform Zoom plans to expand its smart companion, Zoom IQ, and will work with OpenAI to bolster a more flexible approach to AI.
January 2023: Windstream, a communications and software company, had done collaboration with Amazon Web Services, Inc. (AWS). As per this collaboration, AWS will integrate with Windstream Enterprise’s OfficeSuite Live virtual meeting platform to enable robust security, scalability, reliability and flexibility to support seamless collaboration and communication to their network of clients.
Based on organization size type, the Online Meeting Software market segmentation include Large Enterprises, and SMEs. SMEs holds the largest market revenue generation point for Online Meeting Software industry with a share of more than 59.5% in 2023. Small and Medium-sized Enterprises (SMEs) are increasingly using online meeting software to communicate with their team members, clients, and partners, especially in the wake of the COVID-19 pandemic. The use of such software has become essential for SMEs to conduct their day-to-day business activities without the need for physical meetings.
There are many online meeting software options available for SMEs, including popular platforms such as Zoom, Microsoft Teams, Google Meet, Cisco Webex, Skype, and GoToMeeting. These platforms offer a range of features, including video and audio conferencing, screen sharing, recording, and chat functionality.
One of the key benefits of using online meeting software for SMEs is the ability to connect with team members and clients from different locations without having to travel. This not only saves time and money but also makes it easier to coordinate schedules and ensure everyone is on the same page.
In addition, online meeting software allows SMEs to collaborate and share information in real-time, increasing productivity and efficiency. Team members can work together on documents, presentations, and other files, while clients and partners can provide feedback and input on projects.
By region, this market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The North American region dominates this market with a significant share of 43% in 2023 and is also estimated to witness commendable growth with a CAGR of 20,6% during the forecast period. U.S. holds the largest market share in Online Meeting Software market and is expected to dominate the market through the forecast period. The GPS tracker market in the U.S. is growing steadily due to the increasing demand for location-based services and the growing adoption of the Internet of Things (IoT) technology. Many businesses in the U.S. have clients, partners, and employees in different parts of the world. Online meeting software allows them to communicate and collaborate with these individuals more easily, without the need for expensive and time-consuming travel. Advances in technology have made online meeting software more user-friendly, affordable, and accessible. Many platforms now offer features such as screen sharing, virtual backgrounds, chat, and video recording, making virtual meetings more engaging and effective.
Figure 3: Online Meeting Software Market, by Region Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
On the other side, the Asia-Pacific is expected to be the fastest growing market for Online Meeting Software by the end of forecast period. China has a large and diverse market, with businesses and individuals located across the country. Online meeting software has made it easier for businesses to communicate and collaborate with clients and partners from different locations, without the need for travel. The Chinese government has been actively promoting the use of online meeting software as part of its digital transformation initiative. The government has provided subsidies and other incentives to encourage businesses to adopt digital communication tools, including online meeting software.
China's technology industry has experienced significant growth in recent years, and online meeting software has become an essential tool for businesses in the industry. Many Chinese technology companies have adopted remote work arrangements, and online meeting software has become a crucial part of their daily operations. The major online meeting software providers in China include Tencent Meeting, Alibaba's DingTalk, Zoom, and Microsoft Teams.
Major players in the Online Meeting Software market, include Zoom, Microsoft, Cisco, Google, GoToMeeting, Verizon, Slack, Join.me, Adobe Connect, AnyMeeting, RingCentral, Zoho, Jitsi, Alibaba, and Lifesize.
The market's growth is predicted to be accelerated by the increasing trend of remoter and hybrid work pattern, as well as various strategic partnership and alliances with small companies. Due to most of the online meeting software head offices are in U.S., the U.S. controls most of the market in the region and generates a sizeable portion of overall income.
Cisco
GoToMeeting
Verizon
Alibaba
Slack
Join.me
Adobe
AnyMeeting
RingCentral
Zoho
Jitsi
Lifesize
March 2023: Video conferencing platform Zoom plans to expand its smart companion, Zoom IQ, and will work with OpenAI to bolster a more flexible approach to AI.
January 2023: Cordoniq, the secure, smart enterprise video collaboration platform launched new features to address enterprise business needs beyond standard legacy video conferencing software and toward truly secure video collaboration solutions.
Software
Services
Cloud-based
On-Premises
Hybrid
Large Enterprises
SMEs
BFSI
IT & Telecom
Government
Healthcare
Manufacturing
Others
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 15.3 Billion |
| Market Size 2023 | USD 19.1 Billion |
| Market Size 2030 | USD 79.5 Billion |
| Compound Annual Growth Rate (CAGR) | 22.6% (2023-2030) |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 to 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Organization Size, by Deployment, by Component, by End-User, and Regional Type |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, Africa, and Brazil |
| Key Companies Profiled | Zoom, Microsoft, Cisco, Google, GoToMeeting, Verizon, Slack, Join.me, Adobe Connect, AnyMeeting, RingCentral, Zoho, Jitsi, Alibaba, and, Lifesize |
| Key Market Opportunities | Increasing focus on individual customers across developing countries |
| Key Market Dynamics | Increasing hybrid and remote work environment trend Cost cutting from physical location meeting. Increasing traction for online training Improving internet architecture with introduction of 5G and other new technologies |
Frequently Asked Questions (FAQ) :
The market for Online Meeting Software was USD 15.3 Billion in 2022.
The analytics market is expected to be USD 79.5 Billion in 2030.
The growth rate for the Online Meeting Software market is 22.6% through the forecast period.
North America region held the largest market share in 2022.
The major players are dominating the market are Zoom, Microsoft, Cisco, Google, GoToMeeting, Verizon, Slack, Join.me, Adobe Connect, AnyMeeting, RingCentral, Zoho, Jitsi, Alibaba, and Lifesize.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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