Growth Opportunities in the Global Cloud Meetings and Team Collaboration Services Market, Forecast to 2025

Growth Opportunities in the Global Cloud Meetings and Team Collaboration Services Market, Forecast to 2025

New Ways of Work Continue to Drive Industry Growth

RELEASE DATE
06-Feb-2020
REGION
Latin America
Research Code: K415-01-00-00-00
SKU: TE03925-LA-MT_24129

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Description

The global meetings and team collaboration services market offers significant growth opportunities for enterprise communications and collaboration providers.

In 2018, stand-alone audio meeting revenues continued to be negatively impacted by the growing popularity of cloud web/video meetings and team collaboration services. Revenue from stand-alone audio meetings decreased by 18.2 percent to $2.39 billion in 2018. Market revenue is expected to considerably decline at a compound annual growth rate (CAGR) of 30.6 percent from 2018 to 2025. Stand-alone audio meetings will continue to be impacted by price compression and user migration to integrated multimedia meeting services and all-in-one unified communications as-a-service (UCaaS) solutions.

Cloud web/video meeting revenue grew 12.0 percent in 2018 to $3.38 billion. The market is expected to continue on a growth track with a revenue CAGR of 9.9 percent from 2018 to 2025.Continued growth in cloud web/video meetings can be largely attributed to increasing user comfort with video collaboration due to improved usability, reliability and quality as well as lower prices. Demand for robust and engaging digital environments that enable users to meet and collaborate from anywhere on increasingly complex business objectives will continue to grow over time. IT departments around the world are increasingly choosing the flexibility of cloud communications and collaboration deployment models over complex premises-based infrastructure.

Frost & Sullivan estimates that team collaboration services market revenues grew at a notable 104.8 percent to reach $882.4 million in 2018 and are expected to grow at a considerable CAGR of 33.4 percent to reach $6.62 billion by 2025. Key drivers that will contribute to the growth of team collaboration services include: the rise of persistent chat rooms as a new collaboration modality for ad-hoc team interactions; the need for teams to access, organize and synthesize information in organized collaboration hubs where all work can happen; the desire to replace email’s inefficiencies for team coordination; the searchable and permanent nature of team collaboration conversations; and the continuous innovation enriching team collaboration service offerings.

In 2018, stand-alone audio meetings accounted for 35.9 percent of the total global meetings and team collaboration services market; cloud web/video meetings accounted for 50.8 percent, and team collaboration services accounted for 13.3 percent, in terms of revenue. These proportions are expected to significantly change by 2025 when cloud web/video meetings will represent 49.1 percent, team collaboration services 49.5 percent and cloud audio meetings 1.4 percent.

Author: Alaa Saayed

Table of Contents

Purpose of this Experiential Study

5 Step Process to Transformational Growth

Strategic Imperatives for Cloud Meetings and Team Collaboration Service Providers

Scope and Market Definitions

Market Definitions

Market Definitions (continued)

State of the Market

State of the Market (continued)

State of the Market (continued)

State of the Market (continued)

State of the Market (continued)

State of the Market (continued)

State of the Market (continued)

State of the Market (continued)

State of the Market (continued)

State of the Market (continued)

Market Drivers

Market Drivers (continued)

Market Restraints

Market Restraints (continued)

Revenue Forecast—Total Cloud Meetings and Team Collaboration Services Market

Percent Revenue by Region—Total Cloud Meetings and Team Collaboration Services Market

Percent Revenue by Provider—Stand-alone Audio Meetings Market

Percent Revenue by Provider—Cloud Web/Video Meetings Market

Percent Revenue by Provider—Team Collaboration Services Market

Percent Revenue by Provider—Cloud Web/Video Meetings and Team Collaboration Services Market

Unit Forecast—Stand-alone Audio Meetings Market

Unit Forecast—Cloud Web/Video Meetings Market

Unit Forecast—Team Collaboration Services Market

Macro to Micro Visioning

Top Predictions for the Cloud Meetings and Team Collaboration Services Market

Levers for Growth

Growth Opportunity 1—Ease of Use Throughout the Meeting Lifecycle

Growth Opportunity 2—Enterprise-Grade Security and Compliance

Growth Opportunity 3—Application and Service Integration

Growth Opportunity 4—Mobile Offering

Growth Opportunity 5—Customer Care

Growth Opportunity 6—Meeting Spaces/Huddle Rooms

Growth Opportunity 7—Artificial Intelligence

Growth Opportunity 8—Gamification Elements

Growth Opportunity 9—Asynchronous and Synchronous Convergence

Growth Opportunity 10—Firstline Workers and Industries

Growth Opportunity 11—Enterprise Social

Growth Opportunity 12—External Team Collaboration

Growth Opportunity 13—Channel Strategy

Growth Opportunity 14—Innovation and Transformation

Growth Opportunity 15—Social Media Marketing

Identifying Your Company’s Growth Zone

Total Growth Opportunity Matrix 1-9

Total Growth Opportunity Matrix 10-15

Total Growth Opportunities Matrix Chart

Growth Strategies for Your Company

Prioritized Opportunities through Implementation

Legal Disclaimer

Others for Stand-alone Audio Meetings Market

Others for Cloud Web/Video Meetings Market

Others for Team Collaboration Service Market

Others for Cloud Web/Video Meetings and Team Collaboration Services Market

List of Exhibits

Related Research
The global meetings and team collaboration services market offers significant growth opportunities for enterprise communications and collaboration providers. In 2018, stand-alone audio meeting revenues continued to be negatively impacted by the growing popularity of cloud web/video meetings and team collaboration services. Revenue from stand-alone audio meetings decreased by 18.2 percent to $2.39 billion in 2018. Market revenue is expected to considerably decline at a compound annual growth rate (CAGR) of 30.6 percent from 2018 to 2025. Stand-alone audio meetings will continue to be impacted by price compression and user migration to integrated multimedia meeting services and all-in-one unified communications as-a-service (UCaaS) solutions. Cloud web/video meeting revenue grew 12.0 percent in 2018 to $3.38 billion. The market is expected to continue on a growth track with a revenue CAGR of 9.9 percent from 2018 to 2025.Continued growth in cloud web/video meetings can be largely attributed to increasing user comfort with video collaboration due to improved usability, reliability and quality as well as lower prices. Demand for robust and engaging digital environments that enable users to meet and collaborate from anywhere on increasingly complex business objectives will continue to grow over time. IT departments around the world are increasingly choosing the flexibility of cloud communications and collaboration deployment models over complex premises-based infrastructure. Frost & Sullivan estimates that team collaboration services market revenues grew at a notable 104.8 percent to reach $882.4 million in 2018 and are expected to grow at a considerable CAGR of 33.4 percent to reach $6.62 billion by 2025. Key drivers that will contribute to the growth of team collaboration services include: the rise of persistent chat rooms as a new collaboration modality for ad-hoc team interactions; the need for teams to access, organize and synthesize information in organized collaboration hubs where all work can happen; the desire to replace email’s inefficiencies for team coordination; the searchable and permanent nature of team collaboration conversations; and the continuous innovation enriching team collaboration service offerings. In 2018, stand-alone audio meetings accounted for 35.9 percent of the total global meetings and team collaboration services market; cloud web/video meetings accounted for 50.8 percent, and team collaboration services accounted for 13.3 percent, in terms of revenue. These proportions are expected to significantly change by 2025 when cloud web/video meetings will represent 49.1 percent, team collaboration services 49.5 percent and cloud audio meetings 1.4 percent. Author: Alaa Saayed
More Information
No Index No
Podcast No
Author Alaa Saayed
Industries Telecom
WIP Number K415-01-00-00-00
Is Prebook No
GPS Codes 9528-C1,9535-C3,9717-C3,9A59-C1,9705-C1,9A5B-C1,9610,9656,9724