Technological innovation and growing business opportunities had led the upsurge in the demand for web conferencing market. Growing need for face-to-face meetings with clients during work time has led the innovation of new tools and customers are sharing their ideas effectively through web conferencing process. This is viewed as the key factor impacting the growth the global web conferencing market. According to Future Market Insights, the global web conferencing market will register growth at a healthy pace during the forecast period, 2014-2020.
Factors fuelling growth of web conferencing market
The study is analysing a range of micro-economic and macro-economic factors which will be influencing the growth of the global market for web conferencing for the approaching years. Consistent innovation in technology and the need to strengthen productive content from employees is the key factor responsible for the growth of the global web conferencing market. Business communication has become a new trend among the corporate environment for productive software suits which is another driving factor for the growth of the global web conferencing market. Key benefits associated with the web conferencing will significantly drive more demand across multiple industrial verticals. Growing international business collaborations will develop new platforms for key applications such as training events, lectures, presentation and meeting, which will ultimately rev-up the demand for web conferencing globally.
In foreseeable future, increasing entry of new players and the resultant stiff competition can hamper the growth of the global web conferencing market. But, increase in adoption of web conferencing in different fields of education and commercial sector has spread more know-how about web conferencing and its usage in different industry.
The study is further analyzing the global web conferencing market on the basis of end-use, their usage in the region, on the basis of product type, and the channel of distribution. Major end-use industries which are associated with the global web conferencing market include, manufacturing, healthcare, pharmaceutical, education, financial services, and banking. An ongoing regional analysis being developed in the report reveals North America region as the leading market for web conferencing applications. A majority of manufactures in the global web conferencing market are based in regions such as Asia Pacific and Europe, wherein Japan is expected to witness massive growth. Keeping in mind about the usage of technologies in educational institutions, IT companies and many other business firms are delivering productive work during face-to-face communication through computers.
Market Players: Companies such as Voxeet, TimeBridge VenueGen, Teamviewer, Starlight Networks Starlive, OmNovia Technologies, RHUB Communications Inc., Skype, Netviewer, Mikogo, Oracle Beehive, Intercall, BigBlueButton and others are expected to remain active in the expansion of global market for web conferencing. The ongoing study also recognizes eXo Platform with Weemo, VeriShow, IBM Sametime, ACT Conferencing, Genesys Meeting Center, GoToWebinar, Epiphan Systems, Cisco WebEx, Elluminate, Calliflower, PowWow365 and Adobe Connect will remain the key market players in the global market for web conferencing. Owing to stiff competition, products such as Micrsoft Office Live Meeting, Acrobat Connect Profeshional, WEbEX MEetMe Now and Citrix GO To Meeting will offer outstanding service in the global market for web conferencing through 2020.