Growth Opportunities in the Global Cloud Meetings and Team Collaboration Services Market, Forecast to 2026

Growth Opportunities in the Global Cloud Meetings and Team Collaboration Services Market, Forecast to 2026

COVID-19 and New Remote-work Realities Have Set Record Levels of Demand for Cloud Meetings and Team Collaboration Services

RELEASE DATE
18-Dec-2020
REGION
Latin America
Research Code: K568-01-00-00-00
SKU: TE03982-LA-MT_25064
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Description

In 2019 the global cloud meetings and team collaboration services market earned revenues of $5.53 Billion, which is a 38.1 percent growth when compared to 2018. The installed base of paid cloud meetings and team collaboration paid licenses grew by 57.3 percent in 2019 to 73.9 million. Growth in 2019 was mainly attributed to increasing user comfort with video collaboration, the global growth of distributed teams, and the rise of persistent chat rooms as a modern collaboration modality for ad-hoc team interactions.

In 2020, the COVID-19 pandemic and new WFH realities have set unprecedented levels of demand for cloud meetings and team collaboration services. Major cloud meeting providers have reported 3x-4x growth in usage in the months since the pandemic’s onset. The same applies to team collaboration providers, adding millions of daily active users during the pandemic.Virtual events have also exploded during the pandemic as organizations need ways to maintain communication and business continuity – interactivity, scale, and reach have become critical capabilities.In terms of innovation, years of digital transformation have been squeezed into just a few months to cater to the demand of hundreds of millions of individuals working from home. With the number of post-pandemic WFH individuals estimated to settle at 4.5 times the pre-pandemic levels, remote work will no longer be considered a privilege. Technology is ripe for disruptive innovation with the objective of elevating the user experience and addressing user behavior challenges. Technology innovation is expected to help many of the 2.7 billion frontline workers around the globe with mobile-first solutions and capabilities that are tailored to address specific workflows. Cloud meetings and team collaboration providers have a vested interest in arming frontline workers and various vertical industries with specific tools to simplify and optimize their workflows. Technology innovation will help businesses and programmers to embed real-time communications within user applications, without installing any additional products or managing separate log-ons. SDKs and APIs are expected to democratize audio and video.

In 2020, the global cloud meetings and team collaboration service market is expected to at least double its size in revenue, reaching $11.43 Billion, and increase 2.7x in installed paid license to 201.5 million.

Author: Mohammed Alaa Saayed

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

Strategic Imperatives for Cloud Meetings and Team Collaboration Service Providers

Growth Opportunities Fuel the Growth Pipeline Engine™

Cloud Meetings and Team Collaboration Services Scope

Cloud Meetings and Team Collaboration Services Definition

Cloud Meetings and Team Collaboration Services Definition (continued)

Cloud Meetings and Team Collaboration Services Definition (continued)

Key Competitors for the Cloud Meetings and Team Collaboration Services Market

Key Growth Metrics for the Cloud Meetings and Team Collaboration Services Market

Growth Drivers for Cloud Meetings and Team Collaboration Services Market

Growth Driver Analysis for Cloud Meetings and Team Collaboration Services Market

Growth Restraints for Cloud Meetings and Team Collaboration Services Market

Growth Restraint Analysis for Cloud Meetings and Team Collaboration Services Market

Forecast Assumptions, Cloud Meetings and Team Collaboration Services Market

Forecast Assumptions, Cloud Meetings and Team Collaboration Services Market (continued)

Revenue and Installed Licenses Forecast, Cloud Meetings and Team Collaboration Services Market

Net New Licenses Forecast, Cloud Meetings and Team Collaboration Services Market

Installed Licenses Forecast by Type of Service, Cloud Meetings and Team Collaboration Services Market

Revenue Forecast by Region, Cloud Meetings and Team Collaboration Services Market

Revenue and Installed License Forecast Analysis, Cloud Meetings and Team Collaboration Services Market

Revenue and Installed License Forecast Analysis, Cloud Meetings and Team Collaboration Services Market (continued)

Revenue Forecast Analysis by Region, Cloud Meetings and Team Collaboration Services Market

Pricing Trends and Forecast Analysis, Cloud Meetings and Team Collaboration Services Market

Competitive Environment, Cloud Meetings and Team Collaboration Services Market

Revenue Share, Cloud Meetings and Team Collaboration Services Market

Installed Licenses Share, Cloud Meetings and Team Collaboration Services Market

Expected Revenue Share, Cloud Meetings and Team Collaboration Services Market

Revenue Share and Installed Licenses Analysis, Cloud Meetings and Team Collaboration Services Market

Revenue Share and Installed Licenses Analysis, Cloud Meetings and Team Collaboration Services Market (continued)

Revenue Share and Installed Licenses Analysis, Cloud Meetings and Team Collaboration Services Market (continued)

Top 10 Recommendations Cloud Meetings and Team Collaboration Services Market

Top 10 Recommendations (continued)

Growth Opportunity 1—Increasing Demand for AI and IoT to Create Personalized and Safe Meeting Experiences

Growth Opportunity 1—Increasing Demand for AI and IoT to Create Personalized and Safe Meeting Experiences (continued)

Growth Opportunity 2—Frontline Workers and Vertical Industries

Growth Opportunity 2—Frontline Workers and Vertical Industries (continued)

Growth Opportunity 3—Virtual Events, a Market with a High Growth Potential

Growth Opportunity 3—Virtual Events, a Market with a High Growth Potential (continued)

Growth Opportunity 4—APIs and SDKs Extend the Cloud Meetings Opportunity Beyond Standard Services

Growth Opportunity 4—APIs and SDKs Extend the Cloud Meetings Opportunity Beyond Standard Services (continued)

Growth Opportunity 5—Offering Cloud Meetings Support to a Wider Range of Hardware Devices

Growth Opportunity 5—Offering Cloud Meetings Support to a Wider Range of Hardware Devices (continued)

Providers Included in “Others” in the Cloud Meetings and Team Collaboration Revenue Share Section

Providers Included in “Others” in the Cloud Meetings and Team Collaboration Installed Licenses Section

Providers Included in “Others” in the Cloud Meetings and Team Collaboration Expected Revenue Share Section

Your Next Steps

Why Frost, Why Now?

List of Exhibits

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Related Research
In 2019 the global cloud meetings and team collaboration services market earned revenues of $5.53 Billion, which is a 38.1 percent growth when compared to 2018. The installed base of paid cloud meetings and team collaboration paid licenses grew by 57.3 percent in 2019 to 73.9 million. Growth in 2019 was mainly attributed to increasing user comfort with video collaboration, the global growth of distributed teams, and the rise of persistent chat rooms as a modern collaboration modality for ad-hoc team interactions. In 2020, the COVID-19 pandemic and new WFH realities have set unprecedented levels of demand for cloud meetings and team collaboration services. Major cloud meeting providers have reported 3x-4x growth in usage in the months since the pandemics onset. The same applies to team collaboration providers, adding millions of daily active users during the pandemic.Virtual events have also exploded during the pandemic as organizations need ways to maintain communication and business continuity – interactivity, scale, and reach have become critical capabilities.In terms of innovation, years of digital transformation have been squeezed into just a few months to cater to the demand of hundreds of millions of individuals working from home. With the number of post-pandemic WFH individuals estimated to settle at 4.5 times the pre-pandemic levels, remote work will no longer be considered a privilege. Technology is ripe for disruptive innovation with the objective of elevating the user experience and addressing user behavior challenges. Technology innovation is expected to help many of the 2.7 billion frontline workers around the globe with mobile-first solutions and capabilities that are tailored to address specific workflows. Cloud meetings and team collaboration providers have a vested interest in arming frontline workers and various vertical industries with specific tools to simplify and optimize their workflows. Technology innovation will help businesses and programmers to embed real-time communications within user applications, without installing any additional products or managing separate log-ons. SDKs and APIs are expected to democratize audio and video. In 2020, the global cloud meetings and team collaboration service market is expected to at least double its size in revenue, reaching $11.43 Billion, and increase 2.7x in installed paid license to 201.5 million. Author: Mohammed Alaa Saayed
More Information
No Index No
Podcast No
Author Alaa Saayed
Industries Telecom
WIP Number K568-01-00-00-00
Is Prebook No
GPS Codes 9528-C1,9535-C3,9717-C3,9A59-C1,9705-C1,9A5B-C1,9610,9656