LONDON, March 14, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the online corporate meeting services market highlights technological advancements as the most popular trend in the online corporate meeting services market. The market has seen the use of artificial intelligence, machine learning, and analytics in these meeting service platforms to improve the user experience and data availability. AI is a technology that allows intelligent computers to think like humans and complete tasks on their own, whereas machine learning is the process by which a computer system develops its intelligence. Major players in the online corporate meeting services market are focusing on product innovation and adding new features to improve the user experience. For instance, in October 2020, Nvidia, a US-based technology company, announced the Cloud-AI video-streaming platform. NVIDIA Maxine is a cloud-native streaming video AI platform that enables service providers to add new AI-powered capabilities. The users can benefit from additional AI features such as gaze correction, super-resolution, noise cancellation, face relighting, and more when video conferencing service providers run the platform on NVIDIA GPUs in the cloud.
The global online corporate meeting services market size is expected to grow from $5 billion in 2022 to $5.5 billion in 2023 at a compound annual growth rate (CAGR) of more than 10%. The online corporate meeting services market size is then expected to reach $8.1 billion in 2027 at a CAGR of more than 10%.
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The growing popularity of virtual meeting apps is helping to propel the growth of the online corporate meeting services market. The recent surge in demand for virtual meeting software can be attributed to the gradual transition to remote work operations. This increases the demand for online corporate meeting services. For instance, in July 2021, Sensor Tower, a US-based market intelligence and performance metrics company in their article stated that MAUs for Zoom, Microsoft Teams, and Google Meet increased 151% year on year in H1 2021. Furthermore, in Q1 of 2020, there were 147.7 million downloads of video conferencing apps which rose to 479 million downloads in Q2 of 2020.
North America was the largest region in the online corporate meeting services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online corporate meeting services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major players in the online corporate meeting services market are Infinite Conferencing, HP Virtual Rooms, AT&T Connect Support, Communique Conferencing, Glance Networks, Citrix Systems, LifeSize Communications, InstantPresenter, InterCall, Avaya, Fuze/FuzeBox, New Row, BT Conferencing, Bridgit, Adobe, ClickMeeting, Zoho, Glowpoint, EyeNetwork.
The global online corporate meeting services market is segmented by service type into online corporate VCS, online corporate WCS; by product type into voice, video; by meeting type into small size meeting, medium size meeting, large size meeting.
Online Corporate Meeting Services Global Market Report 2023 –Market Size, Trends, And Global Forecast 2023-2032 by The Business Research Company provides insights on the online corporate meeting services market size, online corporate meeting services market segments, online corporate meeting services market trends, online corporate meeting services market growth drivers and restraints, online corporate meeting services industry major competitors’ market positioning, revenues and online corporate meeting services market share.
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