Conference Call Services Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global conference call service market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The rise in the adoption of technologies such as the Internet of things (IoT) is one of the factors driving the growth of the market. According to Global System of Mobile Association estimates, IoT connections are anticipated to reach 25 billion globally by 2025, from 10.3 billion in 2018. Moreover, as per the data published by Devpro Journals in 2020, the New Eclipse Foundation IoT Commercial Adoption Survey found that approximately 40.0% of the organizations are using IoT and 22.0% more are projected to deploy IoT in the next two years. In addition, the survey also revealed that IoT investments are estimated to increase with 40.0% of the organizations planning to spend more on IoT solutions from 2020 to 2021.

The rise in the adoption of augmented and virtual reality (AR &VR) is anticipated to accelerate the growth of the global conference call service market. For instance, as per the data published by Oberlo, approximately 19.0% of the US consumers used VR in 2020, from 16.0% in 2019. Moreover, virtual reality statistics estimated that approximately 52.1 million people used VR technology at least once per month in 2020. Thus, the rise in the adoption of VR technology is anticipated to drive the demand for the global conference call services market.

Looking toward the demand for conference call services, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2019, National Westminister Bank had launched its video banking channel for small and medium-sized enterprises. The channel is designed to arrange secured video calls with the Natwest Relationship managers and multiple participants using a tablet, Pc, or mobile device. The launch aimed to compliments its networks of relationship managers, telephone advisers, and online & mobile banking options. Thus, such launches are anticipated to drive the growth of the global conference call services market.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Deployment Mode
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Microsoft Corp., Zoom Video Communications, and Infinite Conference Inc. among others

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Global Conference Call Services Market Report by Segment
By Deployment Mode
•On-Premises
•Cloud-Based
•Managed Conference Call Based
By Application
•Media & Entertainment
•Government & Defense
•Healthcare
•Corporate Enterprises
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.