COVID-19 and New Remote-work Realities Have Set Record Levels of Demand for Cloud Meetings and Team Collaboration Services
18-Dec-2020
Latin America
Market 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 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
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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
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| Deliverable Type | Market Research |
|---|---|
| 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 |