06.01.2021 Бизнес

Web Conferencing Market Analysis by Industry Segments, Share, Application, Development, Growing Demand, and Top Key Players

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Globally, North America employs web conferencing solutions the most widely due to the increasing expenditure on IT development, early adoption of novel technologies, and presence of technologically inclined people. Additionally, the rising number of large enterprises, increasing penetration of high-speed internet, and growing popularity of the bring-your-own-device (BYOD) policy is boosting the application of web conferencing in the region.

Further, the Asia-Pacific (APAC) web conferencing market​ will witness a rapid adoption of these solutions in the coming years due to the increasing internet penetration, rising IT expenditure, and growing focus on online education and e-learning courses.​ To increase their productivity, entities operating in industries such as media and entertainment, information technology (IT) and telecom, banking, financial services, and insurance (BFSI), transportation and logistics, healthcare, retail, government, and education are increasingly adopting web conference solutions.

These companies have begun to prefer cloud-based solutions over on-premise solutions, as the former offer higher speed, greater scalability, 24/7 service, and better management capabilities for application deployment. Moreover, the lower cost of IT infrastructure that comes with the cloud will amplify the application of web conference solutions in the coming years. To cater to the increasing demand for these solutions, Avaya Inc., IBM Corporation, Dialogic Corporation, Zoom Video Communications Inc., 8X8 Inc., Microsoft Corporation, Cafex Communications Inc., LogMeIn Inc., and Cisco Systems Inc. are introducing new and better products.

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Recently, in April 2020, 8X8 Inc. introduced 8X8 Video MeetingsPro, an enterprise video meeting solution powered by Jitsi, which is an open-source community, to secure video meetings. The solution offers features including password protection, 60 days of cloud storage for recorded meetings, and real-time closed-captioning with post-call transcription.​ Thus, the shift toward remote working due to the COVID-19 outbreak has increased the demand for web conferencing solutions.​