The popularity of web conferencing is growing rapidly across the world. This is, in turn, driving the advancement of the global web conferencing market. As a result, the valuation of the market is predicted to grow from $2,109.3 million in 2019 to $78,547.9 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 39.3% between 2020 and 2030. Depending on offering, the market is categorized into service and solution.

Between the two, the service category will demonstrate faster growth in the web conferencing market in the forthcoming years, as per the estimates of the market research company, P&S Intelligence. This is credited to the burgeoning requirement for integration, consulting, and implementation services. Furthermore, the soaring requirement for technical expertise and the monitoring, maintenance, and upgradation of web conferencing solutions is predicted to push up the demand for web conferencing services in the future years.

Across the globe, the web conferencing market is predicted to exhibit rapid expansion in the Asia-Pacific (APAC) region in the upcoming years. This will be because of the surging internet penetration, the soaring investments being made in information technology (IT) solutions, the growing usage of tablets and smartphones, and the increasing number of North American and European companies that are outsourcing their operations to various companies based in the APAC region.

Hence, it can be said without any hesitation that the demand for web conferencing solutions will skyrocket all over the world in the upcoming years, primarily because of the growing popularity of remote working, on account of its various advantages over the in-office mode of working and the ongoing COVID-19 pandemic around the world.