Global Webinar and Webcast Market – Introduction
- Webinar and webcast is a cloud-based SaaS solution that offers businesses with secure, easy-to-use, and a scalable atmosphere to produce engaging, high-profile webcasts for wide-ranging target audiences worldwide.
- Webinar and webcast solutions are now becoming popular among enterprises to enable better communication and enhance business efficiency.
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Impact of Coronavirus (COVID-19) on the Webinar and Webcast Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19), has a positive impact on the webinar and webcast market. Increasing demand to enforce social distancing from governments due to the highly contagious nature of Coronavirus (COVID-19) has encouraged enterprises to use the work-from-home (WFH) option and focus on deploying cloud-based webinar & webcast services to run their businesses more efficiently.
Enterprises Rapidly Adopting Advanced Network Communication Technology such as 5G, Driving the Webinar and Webcast Market
- In this technological era, network communication technology is gaining importance among enterprises across various industry verticals to deal with the presumptions and challenges of the future.
- Faster networking data rates, higher bandwidth, and lower latencies are the major requirements for enterprises across various industry verticals to enhance business operations and enhance employee efficiency remotely. Network communication technology such as private LTE and 5G networking significantly support these requirements to provide online trainings through webinar and webcast software. Increasing investments to enhance networking technology is the key strategy followed by governments or private vendors to expand these networks across regions worldwide.
- Governments across major nations such as the U.S, Germany, Japan, India, and China are active in deploying 5G networking infrastructure to enable efficient networking solutions to improve business operations. Meanwhile, private LTE networking technology is already prevalent in enterprises across the U.S and Japan; developing countries are still focusing to deploy the 5G network. For instance, Europe has decided to increase network-related investment by 60% and also operating expense during 2020 – 2025. In 2018, Ericsson increased its investment for deploying 5G network across the U.S.
- Therefore, enterprises rapidly shifting toward the adoption of advanced network communication technology such as 5G is significantly driving the growth of the webinar and webcast market worldwide.
Network Transmission Issues Along With Cloud Security Specifically in Underdeveloped Nations Expected to Hamper the Market
- Webinar and webcast solutions extensively rely on cloud-based services which are vulnerable, to provide online events for sales presentations, trainings, product introductions, executive briefings, and learning courses across enterprises.
- Furthermore, sometimes end-user experience is affected by unstable network connections at some places; this might limit the scope of cloud-based services comprising hybrid services/solutions in the affected regions.
- Therefore, network transmission issues along with cloud security is expected to hamper the webinar and webcast market across underdeveloped nations.
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North America to Account for Major Share of the Global Webinar and Webcast Market
- In terms of region, the global webinar and webcast market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global webinar and webcast market during the forecast period due to major presence of leading players and increasing demand for uninterrupted network connectivity, indicating potential growth of the market in the region. Europe is expected to be the second largest market for webinar and webcast from 2020 to 2030.
- Asia Pacific is projected to be a rapidly growing market for webinar and webcast during the forecast period due to increasing adoption of cloud computing solutions or platforms, specifically in India, Japan, and China.
Key Players Operating in the Global Webinar and Webcast Market Include:
- Cisco Systems, Inc.
- Microsoft Corporation
- Adobe Inc.,
- OmNovia
- Clickmeeting
- Demio, Inc,
- Zoom Video Communications, Inc.
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