While it is true that the COVID-19 pandemic is one of the deadliest pandemics that humanity has ever faced, causing thousands of deaths and an unprecedented global economic crisis, it also can not be ignored that “the pandemic has caused some major changes in work patterns and contributed massively toward the development of various revolutionary work trends” that may well continue to exist even in a post COVID world.
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One such new work trend is the concept of remote working or work from home. Hence, with the rising popularity of work from home and online conferencing, the global web conferencing market is predicted to grow, in value, from $2,109.3 million to $78,547.9 million from 2019 to 2030. Furthermore, as per the estimates of the market research firm, P&S Intelligence, the market will demonstrate a CAGR of 39.3% from 2020 to 2030.
Web conferencing solutions are adopted by both large enterprises and small and medium enterprises (SMEs). Of these, the utilization of web conferencing was higher in large enterprises in the last few years. The increasing popularity of remote working in recent times has led to a huge rise in the adoption of web conferencing solutions that allow companies to build and maintain engagement amongst the employees, conduct business and team meetings, and organize team collaborations, which in turn, enhances productivity and efficiency of business operations.
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This market research report provides a comprehensive overview of the web conferencing market
- Historical and the present size of the web conferencing market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential