Zoom generated over one billion U.S. dollars in total revenue during the fourth quarter of the fiscal year 2024. An increase of around 200 million U.S dollars from the fourth quarter of 2023. Zoom's revenue has seen an abundant increase since 2020.

Zoom Video Communication's revenue increased by a margin of nearly 3 percent in their fiscal year 2024, compared to the fiscal year 2023. In their fiscal year ending on January 31st, 2024, Zoom generated revenues of approximately 4.5 billion U.S. dollars. The fiscal year end of the company is January, 31st.

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 500.11 U.S. dollars to 403.58 U.S. dollars on November 10, 2020. Since then the share price has stumbled downwards, landing on 61 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, 75 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 67 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 1,428 CIOs and IT leaders across 83 countries, 94 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 1.6 to 11.5 percent in the shipments of personal computing devices.

While other major video conferencing software-as-a-service vendors saw their revenues flatten out or reduce, Zoom recorded a 148 percent revenue growth, from 90 million U.S. dollars in the first quarter 2019 compared to 225 million in the first quarter of 2020.

The Video Conferencing Software market is valued at USD 8.23 Billion in 2022 and will be USD 20.93 Billion by 2030 with a CAGR of 12.4% during the forecast period. The Driving Factor of the Video Conferencing Software Market:

Growing remote and e-learning boost the video conferencing software market :

conferencing systems. More educational institutions are working with video communication technologies to expand remote learning as a result of the epidemic. As a result, the educational institution is putting the software to use to give students a productive learning environment. In January 2023, the European School of Osteopathy in England announced a partnership with Yuja Enterprise Video Platform to deliver its course materials both locally and internationally through the video conferencing platform.

The Restraining Factor of the Video Conferencing Software Market:

Network-related issues restrain the Video Conferencing Software market:

Even though the majority of wealthy countries have advanced communication infrastructure, few emerging and undeveloped countries lack the required infrastructure to enable high video transmission. People in these countries generally use audio-based communication to avoid the irritation of subpar video and sporadic disconnections. Audio base communication requires a lot less bandwidth and can operate on technology with a lot less capacity compared to video communication. For the video conferencing market, the absence of a robust communication infrastructure is a key growth hurdle.

Impact of the COVID-19 Pandemic on the Video Conferencing Software Market:

The covid-19 pandemic has impacted a variety of business events, including international seminars, trade exhibits, investor presentations, and product launches. As a result, corporate organizations have started implementing livestream communication solutions such as Teams and Zoom to host such events, positively influencing market growth. Zoom Video Communications, Inc. had around 2.22 million active monthly users in 2020, according to Wired UK. Similarly, conferencing solutions have assisted organizations in saving travel expenditures by roughly 30%, and 92% of B2B marketers use such solutions in their core activities during the COVID-19 pandemic. Additionally, various law enforcement organizations and governments are focusing on carrying out activities using such technologies due to the global lockdown. For instance, in April 2020, the Supreme Court of India directed regional courts to conduct their hearings through video conference. Most government and business entities have implemented work-from-home policies to combat the spread of the virus, leading to an increased reliance on video collaboration solutions to keep track of work-related meetings and activities, fueling the demand for the product during the projected period. Introduction of Video Conferencing Software

A web-based tool called video conferencing enables participants to hold face-to-face meetings without traveling to the same place at the same time. Because it reduces the time, costs, and problems connected with business travel, this technology is especially useful for people conducting business in other cities or even other countries. Routine meetings, daily making, and job interviews are all things that can be done via video conferencing. In the future, market expansion is anticipated to be fuelled by the incorporation of advanced technologies like cloud computing, IoT, and artificial intelligence (A1). Additional factors influencing market growth include the expanding need for video communication, virtual workforce management, and cloud-based collaboration platforms. Businesses and organizations are implementing video collaboration tools to make decisions more quickly and reduce the high costs of travel. Additionally, it is projected that rising demand for remote learning will propel market expansion.

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.

Two-thirds of advisory services report using at least one videoconferencing tool in 2022. Videoconferencing software saw a market penetration of about 66 percent in 2024. Zoom is the leading videoconferencing software with a market share of about 55 percent.

In the second quarter of 2021, leading mobile conferencing platforms Zoom, Microsoft Teams, and Google Meet were reported to have close to 200 million downloads of their apps from users worldwide. This represents a decrease of more than 58 percent compared to the corresponding quarter in the previous year, when Zoom, Microsoft Teams, and Google Meet collectively amassed 479 million installs.