Online Corporate Meeting Services Market | Contrive Datum Insights

The Global Online Corporate Meeting Services Market Size Reached US$ 5.0 Billion In 2022, Expects The Market To Reach US$ 7.1 Billion By 2029, Exhibiting A Growth Rate (CAGR) Of 6.04% During 2022-2029.

Online Corporate Meeting Services Market Overview:

Online corporate meeting service is a mode of communication used between a business and its employees or various stakeholders through video and web conferencing. The service supports effective communication through rich media data and voice sharing applications. These services allow users to conduct real-time conferences, conferences, presentations, and training sessions. These services greatly contribute to free and transparent interaction between all participants, regardless of location.

Increasing trend of globalization along with high internet penetration rate is one of the major factors driving the market growth. This trend has led to the emergence of virtual workspaces that are gaining huge popularity worldwide due to their flexibility. Online corporate meeting services form an integral part of virtual workspaces where you can instantly collaborate on projects, share knowledge bases and take advantage of mobile and cloud computing facilities. This also helps reduce the transportation costs and travel time associated with face-to-face meetings and provides working time flexibility. In addition, the trend toward consumerization of information technology (IT), such as the growing adoption of video and mobile conferencing by small and medium-sized organizations to effectively perform daily tasks, is driving demand for these services worldwide. Additionally, improved user experience, product simplification, smart workflow mechanisms in web conferencing and lower operating costs for organizations are some of the other factors contributing to the growth of the market.

Online Corporate Meeting Services market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Online Corporate Meeting Services market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• 8x8 Inc. - Provides cloud-based voice, contact center, video, mobile and unified communications for enterprises in the integration segment.

Major Market Segments Covered in Online Corporate Meeting Services Industry Research:

Market Key Players:
Adobe Inc., Avaya Inc, Blue Jeans Network Inc., Citrix Systems, Inc., AT&T Inc., Bridgit Inc., Zoho Corporation, Newrow_ Inc., Vidyo Inc., BT Group, ClickMeeting, Communiqué Conferencing Inc., EyeNetwork, Fuze, Inc., and Cisco WebEx

By Type:

• Online Corporate VCS (Video Conferencing Services)
• On-premises VCS
• Hosted VCS
• Managed VCS
• Online Corporate WCS (Web Conferencing Services)
• On-premises WCS
• Hosted WCS

By Application:

• Small size meeting
• Medium size meeting
• Large size meeting

By Region:

40% of the market growth will occur in North America during the forecast period. The United States and Canada are major markets for North American online corporate meeting services. However, market growth in this region will be slower than that of the APAC market.

The presence of strong corporate structure will propel the online corporate meeting service market growth in North America during the forecast period. This market research report contains detailed information on competitive intelligence, marketing gaps, and regional opportunities for vendors to help develop an effective business plan.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Market Driver

Multinational corporations are increasingly outsourcing management functions. Cost reduction, risk management, improved management controls, regulatory compliance and business expansion are some of the important factors encouraging companies in developing countries like India.

APAC is considered an emerging market for corporate services such as online corporate meetings, with businesses spending money to procure online corporate meeting services in the region.

Colombia is one of the most attractive destinations for foreign investment and business expansion in Latin America. The country also maintains a comprehensive legal framework to facilitate foreign business investment and expansion.

Mexico is one of the new destinations for corporate services due to its proximity to the United States. These factors will create new growth opportunities for vendors in the online corporate meeting services market during the forecast period.

Market Challenge

Offline meetings bring individuals together to offer their thoughts, share information, and hold discussion and problem-solving sessions.

Incentives in the form of MICE events have been more successful than other forms. This is because offline meetings in luxurious locations reduce work stress and allow employees to have fun at work.

Some companies are following the trend of sending employees to specific locations to escape the monotony of office work. These incentives are provided to employees to achieve their goals, which may challenge the online corporate meeting services market growth during the forecast period.

Online Corporate Meeting Services Market report scope:

Key Takeaways from this Online Corporate Meeting Services Report

• Estimate Online Corporate Meeting Services market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Online Corporate Meeting Services market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Online Corporate Meeting Services market?

The Online Corporate Meeting Services Market is growing at a CAGR of 6.04% During Forecast Period.

What are the key types of Online Corporate Meeting Services market?

Online Corporate VCS (Video Conferencing Services), Online Corporate WCS (Web Conferencing Services)

What are the key applications of Online Corporate Meeting Services market?

Small size meeting, Medium size meeting, Large size meeting       

Who are the key players in Online Corporate Meeting Services market?

Adobe Inc., Avaya Inc, Blue Jeans Network Inc., Citrix Systems, Inc., AT&T Inc., Bridgit Inc., Zoho Corporation, Newrow_ Inc., Vidyo Inc., BT Group, ClickMeeting, Communiqué Conferencing Inc., EyeNetwork, Fuze, Inc., and Cisco WebEx