Dublin, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The "Online Corporate Meeting Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global online corporate meeting services market achieved a size of $5.4 billion in 2022 and is projected to grow to $7.5 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 5.9% during the period from 2023 to 2028.
Online corporate meeting services are communication tools facilitating interactions between enterprises and their employees or stakeholders through video and web conferencing. These services enhance communication by enabling media-rich data and voice sharing applications. Users can conduct live meetings, conferences, presentations, and training sessions, fostering transparent interaction among participants, regardless of their location.
The market is being driven by several factors, including:
- Rising Globalization: The increasing trend of globalization, coupled with high internet penetration rates, plays a pivotal role in market growth. This has led to the emergence of virtual workspaces, which offer flexibility and preference worldwide. Online corporate meeting services are integral to virtual workspaces, facilitating instant collaboration, knowledge sharing, and the utilization of mobile and cloud computing.
- Reduction in Transportation Costs: These services reduce transportation expenses and travel time linked to physical meetings while providing work-time flexibility.
- IT Consumerization: The trend of IT consumerization, marked by growing adoption of video and mobile conferencing among small and medium-sized organizations for daily operations, is boosting demand for online corporate meeting services.
- Improved User Experience: Enhanced user experiences, simplified products, smart workflow mechanisms, and reduced operational costs for organizations are further factors contributing to market growth.
Key Market Segmentation:
- Service Type: The market is categorized into Online Corporate VCS (Video Conferencing Services) and Online Corporate WCS (Web Conferencing Services). Each category comprises On-premises, Hosted, and Managed services.
- Meeting Type: Meeting sizes are classified into Small, Medium, and Large meetings.
- Region: The market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Competitive Landscape:
Key players in the global online corporate meeting services market include Adobe Inc., Avaya Inc, Blue Jeans Network Inc., Citrix Systems, Inc., AT&T Inc., Bridgit Inc., Zoho Corporation, Newrow_ Inc., Vidyo Inc., BT Group, ClickMeeting, Communique Conferencing Inc., EyeNetwork, Fuze, Inc., Cisco WebEx, and others.
Key Questions Answered in This Report
1. What was the size of the global online corporate meeting services market in 2022?
2. What is the expected growth rate of the global online corporate meeting services market during 2023-2028?
3. What are the key factors driving the global online corporate meeting services market?
4. What has been the impact of COVID-19 on the global online corporate meeting services market?
5. What is the breakup of the global online corporate meeting services market based on the service type?
6. What is the breakup of the global online corporate meeting services market based on the meeting type?
7. What are the key regions in the global online corporate meeting services market?
8. Who are the key players/companies in the global online corporate meeting services market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $5.4 Billion |
| Forecasted Market Value (USD) by 2028 | $7.5 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/faf3ss
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