Video Conferencing companies battle it out -iFMeets is Zoom’s competitor in the US

Online video conferencing software companies are giving it all they’ve got to get to the top. Based on numbers by Transparency Market Research, the global video conferencing market is set to reach a valuation of $11.56 billion by the end of 2027. According to Transparency’s Video Conferencing Report, cloud-based online video conferencing software will influence this segment of technology.rnWhat has influenced the overall rise of top video conferencing platforms in the global market? • Augmented adoption of free video conference software by small & medium enterprisesrn• Enhanced progress of outsourcing servicesrn• Growing “Work from home trend” or “Remote Working” • Better cost & time savingsrn• Quicker results based on global collaborationrnIt has been observed that the global video conferencing scenario has been compartmentalized into 5 regions viz. Europe, APAC, North-America, SAM, and MEA. Speaking of the North-American section, the US and Canada influence the video conference sector. With the impact of COVID-19, the video conferencing market witnessed a significant upcurve, the APAC is set to witness the highest Compound Annual Growth Rate (CAGR) during 2020 – 2027. Even other sectors like SAM and MEA will exhibit significant adoption of video conferencing software and its subsequent market players.rnWhat are the factors that favor such an upcurve on the global level? • Favorable ecosystem for global collaborationrn• Simplifying the virtual meeting experiencern• Quick information sharingrn• Flexible working environmentrn• Dynamic, engaging, and productive outcomesrn• Presence of greater numbers of education, corporate, healthcare, government, and other sectors in North America, Europe, and other regionsrn• Availability of ideal infrastructure and resources in the US, UK, and other regionsrn• Augmented adoption of online video conferencing software & online meetingsrn• A new concept of “Bring-your-own-devices(BYOD)” • Rapid industrialization on a global levelrn• Several key players like Zoom, iFMeets, Cisco Webex, etc. • COVID-19 lockdownrnOnline video conferencing service providers are experiencing a great demand for numerous users that are playing the role of a catalyst in the video conferencing market. Vendors winning the market sharernThe global video conferencing market is extremely competitive; a few players that dominate the video conferencing market are Zoom, Cisco Webex, GoTo Meeting, etc. But, iFMeets, a US-based video conferencing software vendor has witnessed a significant upcurve in its user base since the COVID-19 outbreak.