Online Corporate Meeting Services Market by Application and Geography - Forecast and Analysis 2022-2026

The online corporate meeting services market share is expected to increase to USD 5.58 billion from 2021 to 2026, at a CAGR of 14.78%.

This online corporate meeting services market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers online corporate meeting services market segmentation by application (corporate video conferencing services and corporate web conferencing services) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The online corporate meeting services market report also offers information on several market vendors, including 8x8 Inc., Adobe Inc., Alphabet Inc., AT and T Inc., Avaya Holdings Corp., Cisco Systems Inc., ClickMeeting SP Z O O, Digital Samba SL, Express Virtual Meetings Pty Ltd., Internet MegaMeeting LLC, Kaltura Inc., Microsoft Corp., NTT Corp., Onstream Media Corp., Orange SA, Pexip Holding ASA, Veeting AG, Verizon Communications Inc., Yirigaa, Zoho Corp. Pvt. Ltd., and Zoom Video Communications Inc. among others.

What will the Online Corporate Meeting Services Market Size be During the Forecast Period?

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Online Corporate Meeting Services Market: Key Drivers, Trends, and Challenges

The expansion of MNCs is notably driving the online corporate meeting services market growth, although factors such as the presence of offline meetings as an alternative may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online corporate meeting services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Online Corporate Meeting Services Market Driver

• The expansion of MNCs is one of the key drivers supporting the online corporate meeting services market growth.
• MNCs are increasingly outsourcing their administrative functions. Cost reduction, risk management, improved management control, compliance, and business expansion are some of the crucial factors that encourage companies in developing nations such as India.
• APAC is considered an emerging market for corporate services such as online corporate meetings, and, thus, companies are spending 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 investments and expansions by foreign businesses.
• Mexico is one of the emerging destinations for corporate services due to its proximity to the US. Such factors will create new growth opportunities for the vendors in the online corporate meeting services market during the forecast period. 

Key Online Corporate Meeting Services Market Trend

• Increasing adoption of virtual meeting apps is one of the key online corporate meeting services market trends fueling the market growth.
• Virtual meetings allow employees to attend meetings from any location and at any time and the cost of it is less than that incurred in in-person meetings.
• Businesses witness measurable gains through the use of video calls and meetings, such as increased productivity, shorter meetings, and faster choices, as well as cost savings due to reduced travel expenditure and increased income through faster decision-making.
• Vendors are significantly updating their apps to launch services for customers. For instance, in October 2021, Cisco Systems, Inc. announced its next-generation hybrid work collaboration product. Thus, such new adoption of new features for online corporate meetings will lead to more customers procuring the services during the forecast period. 

The above-mentioned benefits of the virtual meeting will drive the online corporate meeting services market growth during the forecast period.

Key Online Corporate Meeting Services Market Challenge

• The presence of offline meetings as an alternative is one of the key factors challenging the online corporate meeting services market growth.
• Offline meetings bring individuals together and enable them to contribute their thoughts, share information, and hold debates and problem-solving sessions.
• Incentives in the form of MICE events have proven to be a greater success than most of the other forms because the offline meetings conducted in luxurious locations can make work less stressful, which keeps employees cheerful even when they are working.
• Some of the companies are following a trend of sending the employees to a location with the aim of giving them a break from the monotony of office work. Such incentives are given to employees for achieving their targets, which may challenge the online corporate meeting services market growth during the forecast period.

This online corporate meeting services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global online corporate meeting services market as a part of the global interactive media and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the online corporate meeting services market during the forecast period.

Who are the Major Online Corporate Meeting Services Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• 8x8 Inc.
• Adobe Inc.
• Alphabet Inc.
• AT and T Inc.
• Avaya Holdings Corp.
• Cisco Systems Inc.
• ClickMeeting SP Z O O
• Digital Samba SL
• Express Virtual Meetings Pty Ltd.
• Internet MegaMeeting LLC
• Kaltura Inc.
• Microsoft Corp.
• NTT Corp.
• Onstream Media Corp.
• Orange SA
• Pexip Holding ASA
• Veeting AG
• Verizon Communications Inc.
• Yirigaa
• Zoho Corp. Pvt. Ltd.
• Zoom Video Communications Inc.

 

This statistical study of the online corporate meeting services market encompasses successful business strategies deployed by the key vendors. The online corporate meeting services market is fragmented and the vendors are deploying growth strategies such as M&A activities to compete in the market.

Product Insights and News

• 8x8 Inc. - Under the unified segment, the company provides cloud-based voice, contact center, video, mobile and unified communications for businesses. 
• 8x8 Inc. - The company offers online corporate meeting services such as virtual meetings, contact rooms, and webinars. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The online corporate meeting services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Online Corporate Meeting Services Market?

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40% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for online corporate meeting services in North America. However, market growth in this region will be slower than the growth of the market in APAC.

The presence of a strong corporate structure will facilitate the online corporate meeting services market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, COVID-19-induced lockdowns had devastating effects on the regional economy. In view of this, organizations shifted to online meeting platforms significantly with the shutdown of offices due to the COVID-19 pandemic. Moreover, it is anticipated that online web and video meetings will be adopted by most organizations owing to their cost advantages, which, in turn, will drive the growth of the market during the forecast period.

What are the Revenue-generating Application Segments in the Online Corporate Meeting Services Market?

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The online corporate meeting services market share growth in the corporate video conferencing services segment will be significant during the forecast period. Video conferencing provides the advantage of viewing the expressions and reactions of other people in addition to being able to hear their voices. It has various benefits such as it enables real-time collaboration, increasing productivity, and saving time. Buyers can access room-based video conferencing devices and integrated tools, desktop video conferencing, and even video-based events and presentations. These benefits will drive the online corporate meeting services market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the online corporate meeting services market size and actionable market insights on the post-COVID-19 impact on each segment.

Online Corporate Meeting Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the online corporate meeting services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Online Corporate Meeting Services Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 14.78%
Market growth 2022-2026	$ 5.58 billion
Market structure	Fragmented
YoY growth (%)	23.67
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 40%
Key consumer countries	US, Canada, China, India, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	8x8 Inc., Adobe Inc., Alphabet Inc., AT and T Inc., Avaya Holdings Corp., Cisco Systems Inc., ClickMeeting SP Z O O, Digital Samba SL, Express Virtual Meetings Pty Ltd., Internet MegaMeeting LLC, Kaltura Inc., Microsoft Corp., NTT Corp., Onstream Media Corp., Orange SA, Pexip Holding ASA, Veeting AG, Verizon Communications Inc., Yirigaa, Zoho Corp. Pvt. Ltd., and Zoom Video Communications Inc.
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, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Online Corporate Meeting Services Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive online corporate meeting services market growth during the next five years
• Precise estimation of the online corporate meeting services market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the online corporate meeting services industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of online corporate meeting services market vendors

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