Two-thirds of advisory services report using at least one videoconferencing tool in 2022. Videoconferencing software saw a market penetration of about ** percent in 2024. Zoom is the leading videoconferencing software with a market share of about ** percent.

The video conferencing market refers to the technology and software that enables real-time communication via video and audio between users in different locations. This communication is typically facilitated by specialized platforms and devices such as laptops, smartphones, cameras, and microphones. Video conferencing allows individuals and businesses to conduct meetings, webinars, training sessions, and interviews remotely, providing an alternative to in-person gatherings. With its primary focus on seamless and interactive communication, the market has experienced rapid growth, driven by the increasing adoption of remote work, globalization, and the demand for cost-effective, efficient ways to communicate. Additionally, advancements in cloud computing, high-speed internet, and AI-driven solutions, along with the growing use of mobile devices, have further fueled the expansion of the video conferencing sector. Key drivers of the video conferencing market include the rise of remote work and virtual collaboration, which has intensified post-pandemic, as businesses and organizations look for ways to stay connected and maintain productivity. Technological advancements such as artificial intelligence, virtual reality, and 5G networks are also enhancing the video conferencing experience by improving video quality, security, and interactivity. Recent developments include: September 2021: State, federal, and local government clients can now use video conferencing services thanks to a partnership between Zoom Video Communications, Inc. and the Amazon Web Services (AWS) Marketplace.. Key drivers for this market are: Increasing demand for cost-effective, efficient ways to communicate. Potential restraints include: lack of digital literacy. Notable trends are: Advancements in cloud computing, high-speed internet, and AI-driven solutions.

Introduction

Zoom vs Google Meet Statistics: In 2024, Zoom and Google Meet remain two of the most widely used video conferencing platforms worldwide. Organisations, educators, and individuals rely upon these tools for meetings, classes, and social interactions.

The article gives an in-depth look at Zoom vs Google Meet statistics that bring to light usage trends, market share, differences in features, and user growth, revenue, and pricing information—all presented in layman's terms.

In the third quarter of 2024, the mobile app of popular video communication platform Zoom recorded approximately 17.6 million downloads in the Asia-Pacific region. Downloads in North and Latin America were 9.3 million, a small decline compared to the previous quarter. Zoom grew in popularity in 2020 due to the global outbreak of coronavirus pandemic and its impact on in-real-life environments and offline activities. Between the first and the second quarter of 2020, downloads of the Zoom mobile app skyrocketed thanks to the widespread adoption of alternative communication media for work, schooling, and social activities among others. After both Microsoft Teams and Zoom experienced a peak in usage in 2020, downloads of the communication apps slowly decreased over 2021 and 2022. Who leads the meetings’ market? According to a survey conducted in 2023, meetings took most of the time for professionals in the United States, as they spent over 10 hours each week having work conversations with colleagues. In 2024, Zoom was the most used videoconferencing app, with a global market share of over 55 percent. Microsoft Teams followed, holding a share of the market of approximately 32 percent, while Go To Meeting had a market share of less than 10 percent. Zooming in: company financials and operations Zoom Video Communication’s revenue has experienced a constant increase since 2019. The company generated a revenue of over 4.5 billion U.S. dollars in their fiscal year of 2024, an increase of over 10 times compared to 2019 - the year in which Zoom entered the public market. During Zoom’s most recently reported quarterly results, the company generated around 170 million U.S. dollars in income from operations globally. In terms of spending on managerial operations, Zoom spent around 1.5 billion U.S. dollars on sales and marketing during 2024. Additionally, the spending on research and development amounts to over 800 million U.S. dollars. In 2024, Zoom’s workforce comprised of approximately 70 percent men and 29 percent women. Around 73 percent of leaders in the company were men, while women held 26 percent of leadership positions.

The outbreak of the coronavirus (COVD-19) pandemic has changed the way many people communicate, personally and professionally. An increase in working from home (WFH) and social distancing has made face-to-face contact with relatives, friends, and colleagues harder. Tracing the share price of Zoom – a prominent video communications service – shows how central web conferencing has become to keeping people in contact throughout the pandemic. While the price has increased steadily throughout 2020, a positive announcement regarding the efficiency of a COVID-19 vaccine made on November 9, 2020, resulted in Zoom’s share price falling from ****** U.S. dollars to ****** U.S. dollars on November 10, 2020. Since then the share price has stumbled downwards, landing on ** U.S. dollars on July 29, 2024. Despite the fall from grace on the stock market, Zoom's business is more robust than ever, both in terms of revenue and income. The company has really cashed in on the opportunity provided by the pandemic and has grown its business tremendously. The work-from-home experiment A recent survey showed that in companies with digital output, ** percent of respondents work either entirely in a work-from-home (WFH) setting, or in a hybrid arrangement. Web conferencing software is experiencing an increase in spending as a result, with ** percent of respondents planning to increase their spending in this area. Services such as Zoom are certain to see a reduction in user numbers when the pandemic is brought under control, but usage is unlikely to return to pre-pandemic levels. In a recent survey of ***** CIOs and IT leaders across ** countries, ** percent of respondents said they expect at least some of their workforce to WFH post-COVID-19. Hardware sales defy forecasts As well as increases in software and services that enable WFH, physical hardware has also seen an increase in sales, likely due to workers setting up offices at home. Following an initial dip caused by supply chain disruptions, increased demand, especially in the education and business sectors, saw PC shipments return to growth. This defies forecasts made during the initial phases of the pandemic, when analysts expected a drop of anywhere from *** to **** percent in the shipments of personal computing devices.

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Video Conferencing Market Size 2025-2029

The video conferencing market size is forecast to increase by USD 8.84 billion, at a CAGR of 12.6% between 2024 and 2029.

The market is experiencing significant growth due to the increasing globalization and resulting need for effective cross-border communication. This trend is driving the adoption of video conferencing solutions as an essential tool for businesses operating in diverse geographies. Furthermore, the integration of artificial intelligence (AI) in video conferencing technology is revolutionizing the way businesses communicate, offering advanced features such as automated transcription, facial recognition, and language translation. However, the market faces challenges related to data privacy and security concerns. With the increasing use of video conferencing for sensitive business discussions and personal interactions, ensuring secure transmission and storage of data is a top priority.
Companies must address these challenges by implementing robust security protocols and transparent data handling practices to build trust and maintain customer confidence. By staying informed of these market dynamics and addressing the challenges effectively, businesses can capitalize on the opportunities presented by the growing market and enhance their communication strategies.

What will be the Size of the Video Conferencing Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with dynamic market activities shaping its landscape. Video conferencing platforms offer a range of features, including breakout rooms for smaller group discussions, translation services for global communication, and high-definition video quality for enhanced user experience. Video conferencing hardware, from cameras to microphones, ensures optimal audio and video performance. Healthcare video conferencing is a significant application, enabling remote patient monitoring and virtual consultations. Screen sharing and content sharing facilitate collaboration, while real-time transcription and virtual interviews streamline communication. Hybrid work and virtual events are driving the adoption of video conferencing software, which integrates with CRM systems, calendar applications, and collaboration tools.

Pricing models vary, with per-meeting and per-user pricing structures, as well as subscription services. Access control, data privacy, and meeting analytics are essential for enterprise video conferencing, while conferencing bridges and video conferencing gateways ensure seamless connectivity. Meeting moderation tools and collaboration features further enhance user engagement. Video conferencing displays, virtual backgrounds, and file sharing add convenience, while remote control, presentation mode, and meeting recording enable productivity. Virtual training, remote sales, and education video conferencing expand the market's reach, with poll features and usage reports providing valuable insights. Video conferencing security remains a priority, ensuring data privacy and protection.

How is this Video Conferencing Industry segmented?

The video conferencing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Component

  Hardware
  Software
  Services


End-user

  Large enterprises
  Small and medium enterprises


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

.

By Component Insights

The hardware segment is estimated to witness significant growth during the forecast period.

In the dynamic market, businesses and various industries adopt innovative technologies to enhance communication and collaboration. Cloud-based conferencing solutions enable calendar integrations and per-meeting pricing, making scheduling and cost management more efficient. Participant engagement is a priority, with features such as instant messaging, Q&A, and content sharing fostering interactive experiences. Customer support is ensured through per-user pricing and access control, while data privacy and meeting analytics maintain security and productivity. Video conferencing platforms offer breakout rooms for focused discussions, translation services for global collaboration, and high-definition video and audio quality for immersive experiences. Healthcare video conferencing integrates remote patient monitoring, real-time transcription, and virtual interviews, revolutionizing the healthcare sector.

Hybrid work and virtual events are facili

Zoom generated over *********** U.S. dollars in total revenue during the fourth quarter of the fiscal year 2024. An increase of around *** million U.S dollars from the fourth quarter of 2023. Zoom's revenue has seen an abundant increase since 2020.

The web conferencing market is likely to grow to a valuation of USD 22.5 billion in 2025 to grow to USD 58.2 billion by 2035, growing at a CAGR of 10.8% in the forecasted period. Growth is driven by increasing demand for remote working tools, along with the integration of new AI-enabled virtual assistants and deepening enterprise-level adoption of video conferencing products.

Contracts and Deals Analysis

Company	Contract Value (USD million)
Zoom Video Communications and U.S. Federal Government	Approximately USD 500 - USD 700
Microsoft Teams and Global Financial Institution	Approximately USD 300 - USD 500
Cisco Webex and International Healthcare Organization	Appro

Country Wise Analysis

Country	CAGR (2025 to 2035)
USA	7.2%
UK	7%
France	6.8%
Germany	7.1%
Italy	6.7%
South Korea	7.3%
Japan	6.9%
China	7.5%
Australia	6.6%
New Zealand	6.4%

Competitive Outlook

Company Name	Estimated Market Share (%)
Zoom Video Communications	30-35%
Microsoft (Teams)	20-25%
Cisco (Webex)	10-15%
Google (Meet)	7-12%
GoTo (LogMeIn)	5-9%
Other Companies (combined)	15-25%

The global web and video conferencing software market is experiencing robust growth, driven by the increasing adoption of remote work models, the rise of hybrid work environments, and the expanding need for enhanced collaboration tools across diverse industries. The market, estimated at $50 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This significant expansion is fueled by several key factors, including the continuous improvement of software features, such as enhanced security, AI-powered transcription, and seamless integration with other productivity tools. Furthermore, the increasing affordability and accessibility of high-speed internet are lowering barriers to entry, fostering wider adoption across both large enterprises and small-to-medium-sized businesses (SMBs). The market's diverse segment offerings, encompassing cloud-based, on-premise, and hybrid deployment models, cater to a broad spectrum of organizational needs and preferences. Leading players like Zoom, Microsoft Teams, Cisco Webex, and Google Meet are continuously innovating and competing for market share, driving further growth and consolidation within the sector. The market's growth trajectory, however, is not without its challenges. Security concerns remain a significant factor, requiring robust security measures to protect sensitive information shared during video conferences. Integration complexities with existing IT infrastructure can also hinder wider adoption. Despite these constraints, the long-term outlook for the web and video conferencing software market remains highly positive, fueled by the enduring shift towards remote and hybrid work models and the continuous evolution of technology. The increasing demand for sophisticated collaboration solutions across sectors like education, healthcare, and finance will be crucial in driving future growth, solidifying the market's position as a critical component of the modern digital landscape.

The global cloud-based video conferencing solutions market is experiencing robust growth, driven by the increasing adoption of remote work models, the rise of hybrid work environments, and the expanding need for efficient communication across geographically dispersed teams. The market, estimated at $20 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching approximately $60 billion by 2033. This expansion is fueled by several key factors, including the increasing affordability and accessibility of high-speed internet, the development of advanced features such as AI-powered transcription and real-time translation, and the growing integration of video conferencing with other collaboration tools. The Education sector demonstrates significant potential, while SMBs and large enterprises continue to be major consumers, driving the demand for scalable and secure solutions. The preference for mobile terminals is also rising alongside PC terminals, reflecting the increasing use of smartphones and tablets for business communication. However, market growth faces restraints such as concerns about data security and privacy, the need for robust internet infrastructure, and the potential for technical glitches during large-scale deployments. The competitive landscape is highly fragmented, with established players like Cisco, Microsoft, and Zoom vying for market share against emerging and specialized providers. Strategic partnerships, technological innovations, and the expansion into new geographical markets are key strategies for success. North America currently holds the largest market share due to early adoption and advanced technological infrastructure, but the Asia Pacific region is anticipated to witness the fastest growth in the coming years due to rapid technological advancements and rising internet penetration. Market segmentation by application (Education, SMBs, Large Enterprises, Others) and type (PC Terminal, Mobile Terminal) provides valuable insights into evolving consumer preferences and allows vendors to tailor their solutions effectively to diverse market segments. Future growth will depend on the ongoing evolution of technology, addressing security concerns, and expanding accessibility to underserved regions globally.

The global online video conferencing solutions market is experiencing robust growth, driven by the increasing adoption of remote work models, the expansion of hybrid work environments, and the rising demand for collaborative tools across diverse sectors. The market, estimated at $50 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching approximately $150 billion by 2033. Key growth drivers include enhanced features like AI-powered transcription, screen sharing, and integrated communication platforms. Furthermore, the increasing affordability and accessibility of high-speed internet globally are significantly contributing to market expansion. The cloud-based segment dominates the market due to its scalability, cost-effectiveness, and ease of deployment, while the education and large enterprise sectors represent significant revenue contributors. However, challenges remain, including concerns about data security and privacy, the need for robust internet infrastructure in certain regions, and the potential for user fatigue associated with prolonged virtual interactions. Competition is fierce, with established players like Cisco, Microsoft, and Zoom vying for market share alongside emerging innovative companies. Regional growth is diverse, with North America and Europe currently leading, but Asia-Pacific is expected to demonstrate significant growth in the coming years fueled by expanding digital infrastructure and rising adoption rates. The market segmentation reveals further nuances. While cloud-based solutions lead, the on-premise segment retains relevance for organizations with stringent security requirements or legacy systems. Within application segments, education shows strong growth due to the increasing reliance on online learning platforms, while large enterprises adopt the technology for enhanced collaboration and communication across geographically dispersed teams. The SMB segment is showing steady growth as they increasingly recognize the cost-effectiveness and productivity benefits. Future growth will depend on continued technological advancements, improved user experience, and the effective addressal of data security concerns. The market's trajectory suggests a continued upward trend, driven by the evolving landscape of work and communication in a digitally connected world.

Global Ultra Zoom Camera Market Market Report 2022 comes with the extensive industry analysis of development components, patterns, flows and sizes. The report also calculates present and past market values to forecast potential market management through the forecast period between 2022-2028. The report may be the best of what is a geographic area which expands the competitive landscape and industry perspective of the market.

The global video conferencing market, valued at $9.86 billion in 2025, is experiencing robust growth, projected to expand at a compound annual growth rate (CAGR) of 11.9% from 2025 to 2033. This expansion is fueled by several key drivers. The increasing adoption of hybrid and remote work models across various industries, coupled with the rising demand for enhanced collaboration tools, is significantly boosting market growth. Furthermore, technological advancements, such as improved video quality, enhanced security features, and the integration of artificial intelligence (AI) for better meeting management, are attracting a wider range of users. The market's segmentation reveals strong growth across both hardware and software components, with services like cloud-based video conferencing platforms exhibiting particularly rapid expansion. Large enterprises are leading the adoption, but the segment of small and medium-sized enterprises (SMEs) demonstrates significant growth potential, indicating a vast untapped market. North America currently holds a substantial market share, driven by early adoption and a strong technological infrastructure. However, regions like Asia-Pacific (APAC) and Europe are demonstrating accelerated growth, particularly in countries like China and India, indicating a shift in geographical market dominance over the forecast period. Competitive pressures are intense, with established players like Cisco, Microsoft, and Zoom facing competition from emerging innovative companies specializing in niche solutions or offering superior features. The market faces some challenges, including concerns regarding data security and privacy, the need for reliable internet infrastructure, and the potential for integration complexities across various systems. Despite these restraints, the overall outlook for the video conferencing market remains strongly positive, driven by long-term trends toward digital transformation and remote work. The competitive landscape is dynamic, with a mix of established technology giants and specialized vendors vying for market share. Strategies employed by leading companies include strategic partnerships, acquisitions, and continuous product innovation. These companies are focusing on enhancing their platforms' functionality, security, and user experience to cater to the evolving needs of businesses and individuals. Industry risks include the threat of new technologies disrupting the market, fluctuating economic conditions impacting investment decisions, and the ever-present need to adapt to changes in user preferences and regulatory frameworks. Future growth will depend on successfully navigating these challenges while continuing to innovate and meet the increasing demand for seamless, secure, and user-friendly video conferencing solutions. The market is expected to reach a significant size by 2033, further solidifying its position as a crucial element of modern communication and collaboration.

The global cloud video conferencing software and services market is experiencing robust growth, projected to reach a market size of $7266.5 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 8.0% from 2025 to 2033. This expansion is driven by several key factors. The increasing adoption of remote work models and hybrid work environments across various industries, from education and small and medium-sized businesses (SMBs) to large enterprises, is significantly boosting demand. Furthermore, advancements in technology, including improved video quality, enhanced security features, and the integration of AI-powered functionalities like real-time transcription and translation, are enhancing user experience and driving wider adoption. The rise of collaborative tools and the need for seamless communication across geographical boundaries also contribute to market growth. Competition among major players like Cisco, Microsoft, Zoom, and Google, fuels innovation and drives pricing competitiveness, making cloud video conferencing solutions increasingly accessible to a wider range of users. Significant regional variations exist in market penetration. North America, particularly the United States, currently holds a substantial market share, owing to high technological adoption rates and a mature business environment. However, Asia Pacific, driven by rapid economic growth and increasing internet penetration in countries like India and China, is poised for rapid expansion in the coming years. Europe also represents a significant market with robust adoption across various sectors. While challenges such as data security concerns and the need for robust internet infrastructure remain, the overall market outlook is highly positive, indicating continued growth and innovation in the cloud video conferencing landscape throughout the forecast period. The increasing integration of cloud video conferencing with other business applications further reinforces its strategic importance for businesses worldwide.

The global video call software market is experiencing robust growth, driven by the increasing adoption of remote work, online education, and telehealth services. The market, estimated at $25 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching approximately $80 billion by 2033. This significant expansion is fueled by several key factors. The rise of hybrid work models necessitates reliable and feature-rich video conferencing solutions for seamless communication and collaboration. Furthermore, the expanding e-learning sector and the increasing demand for virtual healthcare are creating substantial demand for user-friendly and secure video call platforms. The market's segmentation reveals strong growth across both personal and enterprise applications, with the enterprise segment contributing a larger share due to its higher adoption of advanced features and bundled services. Mobile platforms are gaining traction alongside PCs, reflecting the increasing preference for accessible, on-the-go communication. However, challenges such as data security concerns, internet connectivity issues in certain regions, and the rising competition among numerous established players pose potential restraints to the market's growth trajectory. Despite these challenges, ongoing technological advancements, such as improved video quality, enhanced integration with other applications, and the development of more secure encryption protocols, are expected to mitigate these concerns and drive further market expansion. The competitive landscape is characterized by a mix of established tech giants (Microsoft, Google, Facebook) and specialized video conferencing platforms (Zoom, Skype). Regional growth patterns indicate North America and Europe currently hold a significant market share, but the Asia-Pacific region is poised for substantial growth due to its rapidly expanding digital economy and increasing internet penetration. The market is likely to witness further consolidation through mergers and acquisitions as companies seek to expand their market reach and enhance their product offerings. This dynamic interplay of drivers, restraints, and technological advancements will shape the future of the video call software market in the coming years.

Zoom reported $23.08B in Market Capitalization this July of 2025, considering the latest stock price and the number of outstanding shares.Data for Zoom | ZM - Market Capitalization including historical, tables and charts were last updated by Trading Economics this last July in 2025.

The global market for video conferencing software specifically targeted at small businesses is experiencing robust growth, driven by the increasing adoption of remote work models, the need for enhanced collaboration, and the rising demand for cost-effective communication solutions. The market, estimated at $5 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching approximately $15 billion by 2033. This growth is fueled by several key trends, including the integration of advanced features like AI-powered transcription, screen sharing, and enhanced security protocols. Small businesses are increasingly adopting cloud-based solutions due to their scalability, affordability, and accessibility. The segment breakdown reveals that the "soft codec system" category currently holds the largest market share, driven by its ease of use and lower implementation costs compared to hardware-based systems. The telecommunication services application segment is also a significant contributor to market revenue, reflecting the reliance of small businesses on efficient communication for customer interaction and internal operations. However, restraining factors include concerns about data security and privacy, integration complexities with existing systems, and the need for reliable internet connectivity. Competition is fierce, with established players like Zoom, Microsoft Teams, and Google Meet vying for market share alongside smaller, specialized providers offering niche functionalities. Geographical analysis suggests that North America and Europe currently dominate the market, but rapid growth is anticipated in the Asia-Pacific region due to increased digitalization and the expanding small business landscape. The market is segmented by type (soft codec, hard codec, telepresence) and application (telecommunication, healthcare, education, finance, manufacturing, e-commerce). The continued evolution of video conferencing technology, including the integration of augmented and virtual reality (AR/VR) features, will likely reshape the competitive landscape and further propel market growth in the coming years. The focus is shifting towards user-friendly interfaces and seamless integrations with other business tools, enhancing user experience and increasing adoption rates among small businesses.

These include remote consultations, virtual patient monitoring, specialist collaboration and medical training. The market is anticipated to grow to around USD 102 Million by 2025 and to witness a CAGR of 5.6% in the years to come to reach USD 176 million by 2035.

Key Market Metrics

Metric	Value
Industry Size (2025E)	USD 102 million
Industry Value (2035F)	USD 176 million
CAGR (2025 to 2035)	5.6%

Country-Wise Outlook

Country	CAGR (2025 to 2035)
USA	5.7%

Country	CAGR (2025 to 2035)
UK	5.5%

Region	CAGR (2025 to 2035)
European Union	5.6%

Country	CAGR (2025 to 2035)
Japan	5.6%

Country	CAGR (2025 to 2035)
South Korea	5.6%

Segmentation Outlook

Deployment Mode	Market Share (2025)
Cloud-based	66.1%

Component	Market Share (2025)
Software	58.4%

Competitive Outlook

Company Name	Estimated Market Share (%)
Zoom Video Communications, Inc.	20-24%
Cisco Systems, Inc.	15-19%
Microsoft Corporation	12-16%
Teladoc Health, Inc.	8-12%
VSee Lab, Inc.	5-9%
Other Companies (combined)	30-40%

The global video conferencing equipment market is experiencing robust growth, driven by the increasing adoption of remote work models, the expansion of hybrid work environments, and the escalating demand for enhanced communication and collaboration tools across diverse sectors. The market size in 2025 is estimated at $15 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 12% from 2025 to 2033. This significant growth is fueled by several key factors, including advancements in video conferencing technology, such as improved video quality, enhanced security features, and seamless integration with other business applications. The rising prevalence of cloud-based solutions offers scalability and cost-effectiveness, further driving market expansion. The corporate enterprise segment currently holds the largest market share, followed by the education and healthcare sectors, which are witnessing rapid adoption due to the need for remote learning and telehealth services. However, certain restraints are also impacting market growth. These include concerns surrounding data security and privacy, particularly in sensitive sectors like government and defense, along with the initial investment costs associated with implementing advanced video conferencing systems. Despite these challenges, the long-term outlook for the video conferencing equipment market remains positive, driven by continuous technological innovation, increasing digitalization across industries, and the growing preference for flexible and efficient communication solutions. The market is segmented by deployment type (on-premise, cloud-based, hybrid) and application (corporate enterprises, education, media & entertainment, healthcare, government & defense, others). Geographic analysis indicates North America and Europe currently dominate the market, but the Asia-Pacific region is projected to witness significant growth in the coming years, fueled by increasing internet penetration and technological advancements.

Worldwide market revenues from collaboration software reached over 16.1 billion in 2022 and is forecast to keep increasing, reaching about 52.9 billion U.S. dollars in 2032. Collaboration software enables the sharing, processing and management of files, documents and other data types among several users or systems. Popular examples include Slack and Microsoft Teams.

Continued growth expected in enterprise software   

The enterprise software market has experienced high levels of growth in recent years, with market revenues more than doubling in the decade between 2009 and 2019. With year on year growth frequently exceeding ten percent, the enterprise software market is the fastest growing segment in the overarching IT industry. Initial forecasts suggest that this trend of rapid expansion will continue in the coming years, yet the outbreak of the coronavirus (COVID-19) in 2020 has painted a dim picture for the global economy. The global IT industry is now expected to decline in 2020, and that also applies for the software segment.