The global virtual meeting software market size is projected to reach USD 41.58 billion by the end of 2027. The rising product demand is consequential to the increasing adoption of remote work regulations implemented by companies across the world. The massive investments in the integration of cloud-based platforms will emerge in favor of market growth.
According to a report published by Fortune Business Insights, titled “Virtual Meeting Software Market Size, Share & COVID-19 Impact Analysis, By Type (VR Headset, Without VR Headset), By Function (Virtual Event, Video Conferencing, Mobile Event App, Event Management, Lead Retrieval, Attendee Management, Gamification, and Others), By Deployment (On-premises and Cloud), By Enterprises Size (Small & Medium Enterprises and Large Enterprises), By Industry (BFSI, IT & Telecommunication, Education and Research, Automotive, HealthCare, Media & Entertainment, Others), and Regional Forecast, 2020-2027” the market was worth USD 12.11 billion and will exhibit a CAGR of 17% during the forecast period, 2020-2027.
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Virtual meeting software market are used to conduct meetings/group discussions, or any other conversations over the internet. The surge in demand for virtual meeting software market in the past few years is consequential to the gradual shift towards remote work operations. The increasing investments in the integration of cloud-based platforms and the availability of cloud platforms at low costs will emerge in favor of market growth.
The presence of several large scale vendors across the world will lead to a wider product adoption, subsequently contributing to the growth of the market. The growing technological intervention in these products and the adoption of concepts such as IoT and AI have allowed applications across diverse industry verticals.
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- Identifies all the possible segments present in the Virtual Meeting Software Market to aid organizations in strategic business planning.
List of the Key Companies Profiled virtual meeting software market:
- Cisco Systems, Inc. (California, United States)
- Microsoft Corporation (Washington, United States)
- Adobe Inc. (California, United States)
- Aventri, Inc. (Connecticut, United States)
- Walcon Virtual Events (Alicante, Spain)
- LearnBrite – Learning Experience Platform (Arizona, United States)
- MootUp (Arizona, United States)
- LogMeIn, Inc. (Massachusetts, United States)
- Sine Wave Entertainment Ltd. (London, United Kingdom)
- HexaFair (Tamil Nadu, India)
- VirBELA (California, United States)
- Virtway Events (Oviedo, Spain)
- Personify, Inc. (Texas, United States)
- Intrado Corporation (InXpo, Inc.) (Nebraska, United States)
- Hubilo Softech Private Limited (Ahmedabad, India)
- Pathable, Inc. (Washington, United States)
- Whova Inc. (California, United States)
- 6Connex, Inc. (Texas, United States)
- vFairs (Texas, United States)
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Surge in Product Demand during Covid-19 Pandemic is Consequential to Growing Adoption of Work from Home Policies
The recent coronavirus outbreak has had a massive impact on several economies across the globe. Due to the rapid spread of the disease, several countries are looking to implement strict measures with a view to controlling the spread of the disease. The measures taken to curb the spread of the diseases have affected businesses across all sectors.
However, a few businesses have benefited significantly from the pandemic and virtual meeting software market is among the leading sectors that have benefited from this. The surge in adoption of work from home policies by leading organizations across the world will have a massive impact on the growth of the overall market, not just during the pandemic, but also in the post-pandemic period.
Table Of Content Virtual Meeting Software Market
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Virtual Meeting Software Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
3.3.1. Short-term Impact
3.3.2. Long-term Impact
4. Competition Landscap
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Porter’s Five Force Analysis
5. Global Virtual Meeting Software (3D Virtual Event) Key Players Market Share Insights and Analysis, 2019
6. Companies Profiled (Covered for key 10 players only)
6.1.1. Key Management
6.1.2. Headquarters etc
6.2. Offerings/Business Segments
6.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
6.3.1. Employee Size
6.3.2. Past and Current Revenue
6.3.3. Geographical Share
6.3.4. Business Segment Share
6.4. Recent Developments
- July 2020: – NexTech AR Solutions Corp. (NexTech) announced the launch of a new interactive and immersive conferencing and virtual events software – “ScreenAR”. This is an augmented reality (AR)-based software designed to keep end-user engaged in virtual events, trade shows, or classrooms, etc. and accelerate the business opportunities.
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