Web conferencing solutions, such as video calling and conferencing, voice calling and conferencing, whiteboards, screen sharing, co-browsing, and messaging and file sharing, are being adopted by enterprises to reduce their operational expenditure (OPEX) and improve their productivity. The adoption of these solutions offers effective communication and collaboration between employers and employees, without incurring a huge OPEX on the former.

Thus, the mounting focus of businesses on reducing their OPEX will propel the adoption of web conferencing solutions and services globally. Moreover, the rising popularity of the remote working culture, owing to the ongoing COVID-19 pandemic, will drive the web conferencing market growth at a healthy CAGR of 39.3% during the forecast period (2020–2030). The market revenue stood at $2,109.3 million in 2019, and it is projected to reach $78,547.9 million by 2030.

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Businesses across the world are currently allowing their employees to work from home to comply with the lockdowns imposed by governments and contain the spread of the virus. Companies are, therefore, deploying web conferencing solutions to enable team collaboration, maintain employee interaction, and conduct business meetings.

In recent years, web conferencing solution providers have begun offering cloud-enabled solutions as they do not require onsite data servers, which induce a hefty OPEX for enterprises. Additionally, cloud-based solutions ensure that the devices of users run on the latest software version, by automatically updating the features of their devices. Moreover, the limitless scalability offered by such solutions enables organizations to increase or decrease their cloud storage capacity.