Availability of Low-cost Cloud Platforms will Emerge in Favor of Market Growth, says Fortune Business Insights™
Top Key Players of Virtual Meeting Software Market: Cisco Systems, Inc., Microsoft Corporation, Adobe Inc., Aventri, Inc., Walcon Virtual Events, LearnBrite – Learning Experience Platform, MootUp, LogMeIn, Inc., Sine Wave Entertainment Ltd., HexaFair, VirBELA, Virtway Events, Personify, Inc.
As the work from home and continuance of covid-19 dominance, there will be heavy dependence on virtual meeting tool globally and the meeting software market size is projected to reach $41.58 billion by the end of 2027.
The rising product demand is consequential to the increasing adoption of remote work regulations implemented by companies across the world. The massive investments in the integration of cloud-based platforms will emerge in favor of market growth.
Thd study report is published by Fortune Business Insights and is titled “Virtual Meeting Software (3D Virtual Event) Market Size, Share & Covid-19 Impact Analysis.”
The study is based on Type (VR Headset, Without VR Headset), Function (Virtual Event, Video Conferencing, Mobile Event App, Event Management, Lead Retrieval, Attendee Management, Gamification, and Others), Deployment (On-premises and Cloud), Enterprises Size (Small & Medium Enterprises and Large Enterprises), Industry (BFSI, IT & Telecommunication, Education and Research, Automotive, HealthCare, Media & Entertainment, Others), and Regional Forecast, 2020-2027.
The Virtual Meeting Software Market was worth $12.11 billion currently and will exhibit a CAGR of 17% during the forecast period, 2020-2027.
North America is expected to emerge as dominant play as there is increased adoption of AI and cloud-integrated platforms. It will provide a conducive environement for the virtual meeting software market to grow quickly.
The Virtual Meeting Software (3D Virtual Event) Market report analyses the ongoing market trends across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.
The presence of numerous large-scale companies in the US and Canada will contribute to the growth of the regional Virtual Meeting Software Market.
The increasing adoption of concept such as cloud and artificial intelligence by major companies across this region will emerge in favor of growth of the regional market. As of 2019, the market in North America was worth $4.30 billion and this value is projected to rise at a considerable pace in the coming years.
Surge in Product Demand during Covid-19 Pandemic
The recent coronavirus outbreak has had a massive impact on several economies across the globe. Due to the rapid spread of the disease, several countries are looking to implement strict measures with a view to controlling the spread of the disease.
The measures taken to curb the spread of the diseases have affected businesses across all sectors. However, a few businesses have benefited significantly from the pandemic and virtual meeting software is among the leading sectors that have benefited from this.
The surge in adoption of work from home policies by leading organizations across the world will have a massive impact on the growth of the overall Virtual Meeting Software Market, not just during the pandemic, but also in the post-pandemic period.
Virtual Meeting Software (3D Virtual Event) Market are used to conduct meetings/group discussions, or any other conversations over the internet. The surge in demand for virtual meeting software in the past few years is consequential to the gradual shift towards remote work operations.
The increasing investments in the integration of cloud-based platforms and the availability of cloud platforms at low costs will emerge in favor of market growth. The presence of several large scale vendors across the world will lead to a wider product adoption, subsequently contributing to the growth of the Virtual Meeting Software (3D Virtual Event) Market. The growing technological intervention in these products and the adoption of concepts such as IoT and AI have allowed applications across diverse industry verticals.
Product Innovations will Emerge in Favor of Market Growth
The Virtual Meeting Software (3D Virtual Event) Market report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the increasing demand for the product, there is a healthy market competition across the world.
The increasing competition has encouraged companies to adopt newer strategies that will help them establish a wider consumer base. In July 2020, NexTech AR Solutions Corp. announced the launch of an interactive virtual meeting solution. The company introduced ‘ScreenAR,’ an interactive and immersive conferencing software.
The company stated that this product is integrated with augmented reality; a concept that will cater to real time applications. Increasing number of such product innovations will have a huge impact on the growth of the overall market in the forthcoming years.
Some of the Key Questions Answered in this Report:
Detailed Overview of Virtual Meeting Software (3D Virtual Event) Market will help deliver clients and businesses making strategies.
Influencing factors that are thriving demand and latest trends running in the market.Virtual Meeting Software (3D Virtual Event) Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
What trends, challenges and barriers will impact the development and sizing of the Global Virtual Meeting Software (3D Virtual Event) Market?
SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
Virtual Meeting Software (3D Virtual Event) Market Key Companies
• Cisco Systems, Inc. (California, United States)
• Microsoft Corporation (Washington, United States)
• Adobe Inc. (California, United States)
• Aventri, Inc. (Connecticut, United States)
• Walcon Virtual Events (Alicante, Spain)
• LearnBrite – Learning Experience Platform (Arizona, United States)
• MootUp (Arizona, United States)
• LogMeIn, Inc. (Massachusetts, United States)
• Sine Wave Entertainment Ltd. (London, United Kingdom)
• HexaFair (Tamil Nadu, India)
• VirBELA (California, United States)
• Virtway Events (Oviedo, Spain)
• Personify, Inc. (Texas, United States)
• Intrado Corporation (InXpo, Inc.) (Nebraska, United States)
• Hubilo Softech Private Limited (Ahmedabad, India)
• Pathable, Inc. (Washington, United States)
• Whova Inc. (California, United States)
• 6Connex, Inc. (Texas, United States)
• vFairs (Texas, United States)
• Streampoint Solutions Inc. (Ontario, Canada)
• Livestrom SAS (Paris, France)
• EventsAIR (Queensland, Australia)
• NexTech AR Solutions Corp. (Vancouver, Canada)
• VentureBeat (VB) (California, United States)
• AIRMEET Inc. (Delaware, United States)
• EventMobi (Ontario, Canada)
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