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Online Corporate Meeting Solutions Market Overview 2024
Online Corporate Meeting Solutions Market Overview
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According to The Business Research Company's, The online corporate meeting services market size has grown rapidly in recent years. It will grow from $5.57 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to business continuity solutions, globalization and remote work trends, cost efficiency and time savings, enhanced communication tools, scalability and accessibility.
The online corporate meeting services market size is expected to see rapid growth in the next few years. It will grow to $9.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to continued remote work culture, hybrid work environments, virtual events and webinars, business continuity and disaster recovery, enhanced user experience. Major trends in the forecast period include global collaboration requirements, virtual event hosting, user experience and accessibility, technological advancements, hybrid work environments.
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Market Drivers and Trends:
The rising demand for remote work is expected to propel the growth of the online corporate meeting services market going forward. Remote work refers to the practice of employees working outside of a traditional office environment, often from their homes or other locations. Online corporate meeting services are used in remote work to facilitate communication and collaboration between employees. These services allow employees to meet face-to-face, share screens, and work on documents together in real time, which helps to improve productivity, reduce travel costs, and increase employee satisfaction. For instance, in June 2023, according to reports published by Forbes Media LLC, a US-based media company, in 2023, 12.7% of full-time workers will work from home, 28.2% will use a mixed approach, and 32.6 million Americans are expected to work remotely by 2025. Therefore, rising demand for remote work is driving the growth of the online corporate meeting services market.
Major companies operating in the online corporate meeting services market are focused on introducing innovative virtual conference platforms, such as Zoom Events, to meet the increasing demand for immersive and engaging virtual experiences. Zoom Events provides a comprehensive solution for event organizers to host virtual and hybrid events of any size. It brings together the features of Zoom webinars, Zoom meetings, and Team Chat into one platform, offering a seamless experience for both organizers and attendees. For instance, in October 2022, Zoom Video Communications Inc., a US-based software company, launched Zoom Events, a powerful and flexible platform that can help you create successful virtual and hybrid events. With its variety of features, customization options, and add-on features, Zoom Events can meet the needs of businesses and organizations of all sizes.
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Major Key Players of the Market:
Infinite Conferencing lnc., HP Virtual Rooms, AT&T Connect Support, Communique Conferencing, Glance Networks, Citrix Systems Inc., LifeSize Communications, InstantPresenter, Intercall Nursecall Systems, Avaya Inc., Fuze, New Row, BT Conferencing, Bridgit, Adobe Inc., ClickMeeting, Zoho Corporation, Glowpoint, EyeNetwork, Blue Jeans Network, Conference Calling, Onstream Meetings, UberConference, Orange Business Services, Microsoft Teams, Skype for Business, TeamViewer, GlobalMeet, Cisco Webex Meetings, RingCentral Meetings
Online Corporate Meeting Services Market 2024 Key Insights:
• The online corporate meeting services market size is expected to see rapid growth in the next few years. It will grow to $9.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
• Virtual Meeting App Surge Propels Growth In Online Corporate Meeting Services Market
• Innovative Solutions Driving The Online Corporate Meeting Services Market
• North America was the largest region in the online corporate metting services market in 2023
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