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The online corporate meeting services market size is forecast to increase by USD 14.79 billion, at a CAGR of 28.82% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. The expansion of multinational corporations (MNCs) with global teams necessitates frequent virtual meetings to facilitate effective communication and collaboration. Additionally, the increasing adoption of virtual meeting apps offers convenience, cost savings, and flexibility, making them a popular choice among businesses. Multinational corporations (MNCs) are increasingly turning to online corporate meeting services to facilitate remote and virtual meetings, MICE, webinars, and virtual event management. However, the presence of offline meetings as an alternative cannot be overlooked, and the market trends and analysis report indicates that the integration of advanced features such as real-time collaboration tools, virtual whiteboards, and high-definition video conferencing will further enhance the value proposition of online corporate meeting services. Overall, the market is poised for robust growth, with increasing demand from various industries and geographies.
The market is witnessing significant growth due to the increasing shift towards Hybrid work environments and Remote work. Online meeting software, communication tools, and collaboration tools are becoming essential for businesses to facilitate effective teamwork and productivity. According to Remote work statistics, IT and Telecom industries are leading the adoption of these services. In various sectors like Healthcare, Video conferencing, Screen sharing, Telemedicine, and Virtual care coordination are revolutionizing the way professionals connect and collaborate. Communication, Web conferencing, Media-rich data, Voice sharing, Live meetings, Conferences, Presentations, Training sessions, and Interactive presentation tools are some of the key features of these software programs. With the increasing Internet penetration and the availability of Digital platforms, Virtual workspaces are becoming the new normal. Integrated communication suites, Real-time chat, and Virtual event management are also gaining popularity in this market. Webinar platforms and Virtual event management tools are essential for conducting large-scale meetings and events. Overall, the market is a dynamic and evolving industry that is here to stay.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The corporate video conferencing services segment is estimated to witness significant growth during the forecast period. In today's hybrid work environments, online meeting software and communication tools have become essential for businesses to facilitate remote work. The shift towards remote work has been accelerated by the availability of advanced digital platforms, including video conferencing, screen sharing, and telemedicine. These tools enable real-time communication, collaboration, and virtual care coordination, making it possible for industries such as IT and Telecom, Healthcare, and Education to continue operations seamlessly. According to remote work statistics, the number of job listings for remote positions has increased significantly, reflecting the trend towards flexible work arrangements.
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The corporate video conferencing services was the largest and was valued at USD 1.69 billion in 2018. With the increasing internet penetration and the adoption of cloud computing, mobile computing, and web conferencing, businesses can conduct live meetings, presentations, training sessions, and conferences from anywhere in the world. The use of voice sharing, media-rich data, and smart workflow mechanisms further enhances the effectiveness of online meetings. The market for online corporate meeting services includes various meeting types, such as small, medium, and large size meetings, and offers on-premises, hosted, and managed solutions. Digital platforms and software programmes have revolutionized the way businesses conduct meetings, reducing transportation costs, travel time, and offering work-time flexibility.
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North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In today's hybrid work environments, online meeting software and communication tools have become essential for businesses to facilitate remote work. The shift towards remote work has been accelerated by the availability of advanced technology, such as video conferencing, screen sharing, and telemedicine. These digital platforms enable real-time communication and collaboration, allowing for virtual care coordination and knowledge sharing. According to remote work statistics, IT and Telecom industries are leading the way in adopting these tools, followed closely by healthcare. Video conferencing adoption has seen a significant increase, with live meetings and webinars becoming commonplace for presentations, training sessions, and conferences. Communication and web conferencing software programmes enable media-rich data sharing, voice sharing, and smart workflow mechanisms, making virtual workspaces more efficient. The benefits of remote work, including reduced transportation costs, travel time, and work-time flexibility, have led to an increase in the use of online meeting software for small, medium, and large-sized meetings. The on-premises, hosted, and managed solutions cater to different business needs, making it important to consider the meeting type when selecting the appropriate digital platform. The future of online corporate meeting services lies in the integration of mobile computing, cloud computing, and advanced collaboration features to enhance productivity and efficiency.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Expansion of MNCs is notably driving market growth. Integrated communication suites with real-time chat, high-definition video, and audio capabilities are essential features that enable seamless collaboration. Interactive presentation tools, audience engagement metrics, virtual breakout rooms, and file sharing further enhance the user experience. In the Asia Pacific (APAC) region, MNCs are spending on online corporate meeting services due to cost reduction, risk management, improved management control, compliance, and business expansion. The market in APAC, particularly in India, is witnessing significant growth as companies in developing nations outsource administrative functions. Brazil is a prominent destination for corporate services in South America, but the highly bureaucratic structure can hinder market growth. Intense competition is prevalent in the market as new vendors enter the corporate services space, offering features such as AI-powered technologies, augmented reality, noise cancellation, multi-device compatibility, real-time transcription, sentiment analysis, and automatic meeting summaries. Access controls and integration with other business applications are also crucial considerations. Thus, such factors are driving the growth of the market during the forecast period.
Increasing adoption of virtual meeting apps is the key trend in the market. Virtual meetings have gained significant traction in both personal and professional spheres, enabling employees to participate in meetings from remote locations and flexible schedules. The shift towards virtual meetings is cost-effective compared to traditional in-person gatherings. Corporations utilize apps like LogMeIn, Cisco Webex, Skype, and Zoom for virtual meetings, which offer features such as high-definition video, audio capabilities, real-time chat, file sharing, and interactive presentation tools. These applications facilitate audience engagement through virtual breakout rooms, real-time transcription, contact center, sentiment analysis, and automatic meeting summaries. Moreover, virtual events can be managed through integrated communication suites, and AI-powered technologies provide noise cancellation, multi-device compatibility, and access controls. In October 2020, Cisco's web conferencing app, Webex, recorded an impressive 590 million participants. Virtual meetings contribute to increased productivity, shorter meetings, and faster decision-making, making them an essential tool in the hybrid workplace. Thus, such trends will shape the growth of the market during the forecast period.
Presence of offline meetings as an alternative is the major challenge that affects the growth of the market. Online corporate meeting services have become essential for businesses as remote work patterns and the hybrid workplace become increasingly common. These services enable individuals to participate in remote meetings and virtual events through webinar platforms and integrated communication suites. Interactive presentation tools, real-time chat, high-definition video, and audio capabilities facilitate effective communication and collaboration. Virtual event management offers audience engagement metrics, virtual breakout rooms, and AI-powered technologies such as augmented reality, noise cancellation, multi-device compatibility, real-time transcription, sentiment analysis, and automatic meeting summaries. Access controls ensure security and privacy during these meetings. The integration of these features enhances productivity, teamwork, and employee satisfaction. Online corporate meeting services have become indispensable tools for businesses, enabling efficient communication and collaboration in the digital age. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
8x8 Inc. - The company offers online corporate meeting services such as virtual meeting, contact rooms, and webinars.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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Market Scope |
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Report Coverage |
Details |
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Page number |
152 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 28.82% |
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Market Growth 2024-2028 |
USD 14.79 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
23.47 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 46% |
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Key countries |
US, China, Canada, Germany, UK, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
8x8 Inc., Adobe Inc., Alphabet Inc., AT and T Inc., Avaya LLC, Cisco Systems Inc., ClickMeeting SP Z O O, Digital Samba SL, Express Virtual Meetings Pty Ltd., Internet MegaMeeting LLC, Kaltura Inc., Microsoft Corp., Nippon Telegraph And Telephone Corp., Onstream Media Corp., Orange SA, Pexip Holding ASA, Veeting AG, Verizon Communications Inc., Yirigaa, Zoho Corp. Pvt. Ltd., and Zoom Video Communications Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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