Conference Call Services Market Forces at Play: Key Players, Demand Shifts, and Projections | Microsoft Corporation, Zoom Video Communications

Conference call services allow companies and individuals to conduct audio conferences online or through telephone lines. They provide functionalities like scheduling, dialing-in details, call management and recordings. Conference calls help businesses conduct virtual meetings and training sessions remotely.

The global conference call services market was valued at US$ 8.4 billion in 2017 and is projected to reach US$ 12.5 million by 2026, exhibiting a CAGR of 4.6% over the forecast period

Request a sample copy of the report @https://www.coherentmarketinsights.com/insight/request-sample/2197

Market Dynamics:

The adoption of remote working practices among enterprises due to coronavirus pandemic is driving the growth of conference call services market. As more organizations enable work from home options, the demand for virtual communication tools like conference calling has increased significantly. Furthermore, ease of use and cost-effectiveness of cloud-based conference call solutions compared to on-premise hardware systems is also fueling their popularity. Offerings with additional collaboration features like screen sharing and video are gaining traction from clients seeking integrated platforms for hybrid work models.

Increased Adoption of Cloud-based and Software-as-a-Service (SaaS) Conference Call Solutions

The rise of cloud computing and SaaS-based models have significantly contributed to the growth of conference call services market. Cloud-based conference call solutions provide flexibility, scalability, low upfront costs and pay-as-you-go pricing which appeals to both large enterprises as well as small and medium businesses. Major conference call service providers have shifted their focus towards developing advanced cloud-based platforms with features such as collaboration tools, audio and video conferencing, screen sharing and real-time communication. These platforms are easily accessible via any internet connected device without needing to install additional hardware or software. Furthermore, cloud platforms allow businesses to scale their conference call capacity on demand based on real-time requirements which offers significant cost savings.

Rising demand for Collaboration and Communication Tools for Remote Work

The COVID-19 pandemic accelerated the trend of remote and hybrid work models across various industries. With employees working remotely, enterprises increasingly relied on online collaboration and communication tools to ensure business continuity and productivity. Conference call services emerged as one of the most effective solutions to conduct meetings virtually and make important decisions collaboratively without the need for physical presence. Many large corporations have now adopted conference call solutions on a permanent basis even after offices have reopened partially. This has sustained the demand for professional and well-designed conference call platforms going forward in the post pandemic era.

Key Company Profiles:

Microsoft Corporation, Zoom Video Communications, Dialpad, Polycom, Infinite Conferencing Inc., GlobalMeet, Arkadin SAS, AT Conference, ConferenceCalls, RingCentral Business Phone Services, Zip Conferencing, InterCall Online, and Budget Conferencing Inc.

Request for Report Customization @https://www.coherentmarketinsights.com/insight/request-customization/2197

This Report lets you identify the opportunities in Conference Call Services Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

Security and Privacy Concerns Challenge Uptake of Public Cloud-based Conference Call Services

While cloud-based conference call solutions offer clear benefits, many organizations hesitate to adopt public cloud models due to security and privacy risks. Sensitive business conversations conducted over conference calls may contain confidential information and intellectual property. Storing such data on servers owned and managed by third party cloud providers increases the chances of privacy breaches or leaks. Furthermore, outages and disruptions in public cloud infrastructure can potentially bring business operations to a halt. These concerns have driven increased demand for on-premise private cloud or hybrid conference call deployment models which allow customizing security protocols as per company needs while also enjoying benefits of cloud scalability and flexibility.

Opportunity for Enhanced Virtual Meeting Experiences using AI and Immersive Technologies

With remote work becoming mainstream, there is significant scope for conference call service providers to develop next generation platforms leveraging technologies like artificial intelligence, augmented reality and virtual reality. AI can analyze meeting conversations, provide real-time updates, automated transcriptions and generate actionable insights. Immersive virtual meeting spaces powered by AR and VR can make remote interactions more engaging by simulating in-person experiences through spatial audio, realistic avatars and multi-sensory environments. If successfully implemented, such innovative features can help elevate virtual meetings to a whole new level, driving further uptake of premium conference call solutions.

Emergence of Purpose-built Meeting Applications and Integration with Collaboration Suites

Earlier, conference calls were traditionally standalone applications focused only on audio connectivity. However, the market is witnessing an evolution where conference call features are being embedded or tightly integrated within unified communication and collaboration software as well as specific team meeting applications. Popular platforms like Microsoft Teams, Google Meet, Zoom and Webex have integrated phone dial-in with video and chat capabilities. Similarly, specialized meeting apps including HeySummit, Hopin, Anthropic are incorporating audio conferencing. This trend allows creating seamless hybrid meeting experiences and will blur boundaries between traditional phone conference services and new generation meeting solutions. Purpose-built virtual meeting spaces are the emerging trends in this market.

Key questions answered in the report include:

ᗒ How Conference Call Services Market industry market will boom in 2023?

ᗒ which are prominent key players will be growing the market?

ᗒ Which enterprise size accounted for the largest data center colocation market share?

ᗒ What is the Compound Annual Growth Rate(CAGR) of the market during the forecast period (2023-2030)?

ᗒ What is the primary factor contributing to the growth of the market?

ᗒ Which region held the largest market share in the market?

Buy Now @ https://www.coherentmarketinsights.com/insight/buy-now/2197

533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com

About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.