Widespread Shift to Remote Work Presents Massive Opportunities for Virtual Meeting Solution Providers

Widespread Shift to Remote Work Presents Massive Opportunities for Virtual Meeting Solution Providers

PR Newswire

SANTA CLARA, California, July 22, 2020

Unprecedented increase in the number of people working from home sets up global meetings market for exponential growth

SANTA CLARA, California, July 22, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Post-pandemic Growth Opportunity Analysis of the Meetings Market, forecasts that the number of remote workers post-COVID-19 will be 500% greater compared to the pre-pandemic number, creating a massive demand for video meetings. The number of video meeting licenses is projected to increase at a CAGR of 24.6% between 2019 and 2025, compared to a pre-pandemic forecast of 17.2%.

Photo - https://mma.prnewswire.com/media/1217529/Frost_And_Sullivan_Global_Meetings_Market.jpg

For further information on this analysis, please visit: http://frost.ly/49x

"The COVID-19 crisis has made remote work and hybrid work the new norm. During the pandemic and its immediate aftermath, in-office presence will be needs-based, and offices will transform from being 'productivity centers' to being sites for employee engagement, collaboration, and building relationships," said Roopam Jain, Senior Industry Director, ICT. "The shift to remote work represents a transformative moment for the meetings market and unveils tremendous growth opportunities for vendors that can differentiate on better quality and more scalable, manageable, and secure cloud services and devices that ensure an optimal meeting experience, regardless of where users work." 

Jain added: "Video meetings will be a de facto expectation for business communications in the future, leading to a rapid rise in usage. Growth in the future will primarily come from all-in-one, easy-to-use devices and service bundles for personal collaboration. However, revenue growth will be dependent on a confluence of factors, such as the conversion of free accounts to paid ones. Rampant free offerings during the pandemic will generate an immense base of free users, providing vendors the opportunity to convert them to paid accounts in the future. The ability to gracefully wean users off of free services into a paid engagement will ultimately determine if providers will see a sustained revenue impact from the upsurge in user demand." 

For further revenue opportunities, market participants should:

Post-pandemic Growth Opportunity Analysis of the Meetings Market is part of Frost & Sullivan's global Information and Communication Technology Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Post-pandemic Growth Opportunity Analysis of the Meetings Market
K4EC-64

Contact:
Francesca Valente
Corporate Communications
E: Francesca.Valente@frost.com

Voltar noticias em Inglês