The Webcast and Webinar Market is Predicted to Grow by a CAGR of 7.6% Over the Forecast Period between 2016 and 2023. This market had a value of USD 547 million in 2015 and is expected to be worth around USD 800 million in 2023
Webinar and Webcast: Introduction
Webinar and webcast is a cloud-based SaaS solution that provides companies with a secure, user-friendly and highly scalable environment to create engaging, high-profile webcasts that reach a wide range of target audiences across the world.
Webinars and webcasts are becoming increasingly popular with businesses to improve communications and increase business efficiency.
Webcasts are a type of media presentation broadcast over the internet to provide one source of content to a variety of simultaneous viewers or listeners. Web-based conferencing is an umbrella term that covers various kinds of collaborative services and online conferencing such as web meetings, webinars and webcasts.
These are generally utilized to distribute data as well as for business meetings. Online classes are recognized by a variety of private and government organizations around the world for their ability to share information and learn. They also provide an easy way for webcast innovations to share meetings, events and online classes around the world. The business environment is changing fast across the globe, and implementation of webinar and webcast technologies is carried out in a way that is expressive to manage the workforce in organizations.
The Global Webinar and Webcast Market Forecast:
The introduction of webcasts and webinars all over the world by various companies is expected to show substantial growth during the forecast time frame.
Webinar and Webcast Market are growing at a moderate rate with substantial growth in the last few years. It is anticipated to increase substantially in the forecasted timeframe, i.e. 2021-2028.
The technological advances in ICT products and services are gaining momentum all over the world, which allows for improving communications services. These services also provide an ease of use for webcast technology that allows broadcasting of events and webinars around the world. Webinars can be hosted with webcast software. The fact that these webinars feature a wide range of interactions leads to an increase in the market for webinars and the Webinar and Webcast market. Its Global Webinar and Webcast Market report offers a comprehensive analysis of this market. The report provides a thorough analysis of the most important segments and drivers, trends and restraints, market landscape, and other elements that play an important role within the marketplace.
Webcast technology permits the broadcast of many events on the internet that can be accessed using one URL. Webinars are online-based events that utilize webcast technology. Workshops and educational programs using webcast technology are called webinars. They are used to disseminate information or to hold large business gatherings. Webinars are embraced by a variety of public and private organizations across the world to share information and learn.
Market Drivers and Market Restraints for the Global Webinar and Webcast Market:
Market Drivers:
In the current technological age, the use of network communications technology is growing in importance for businesses across various industries to address assumptions and future challenges.
More data-intensive networking speeds with higher bandwidth and less latency are the essential requirements for businesses across various industries to boost the efficiency of their operations and increase the productivity of employees remotely. Technology for network communication, such as the private LTE and 5G networks, help meet these needs by providing online training via webinars and webcasting software. The increase in investments to upgrade network technology is the primary strategy employed by governments or private companies to expand the networks to other regions around the world.
The governments of major countries like that the U.S, Germany, Japan, India, and China are actively working to deploy 5G network infrastructures to facilitate efficient networking options to enhance the efficiency of their business. In addition, private LTE technology is widely used in businesses throughout the U.S and Japan, while developing countries are still focused on deploying this network. For example, Europe has decided to raise network-related investments by 60% and operating expenses between 2020 and 2025. In the year 2018, Ericsson has increased its investment in the deployment of 5G throughout the U.S.
So, the rapid shift of companies towards the adoption of modern technology for communication networks like 5G is increasing the size of the webinar and webcast industry across the globe.
Market Restraints:
Webinar and webcasting solutions heavily depend on cloud-based solutions that are susceptible to providing online events for training, sales presentations as well as product introductions, executive briefings, as well as education courses in all kinds of enterprises.
In addition, occasionally, the experience of end-users is impacted by the instability of connectivity to networks in some locations; this could restrict the use of cloud-based services that include hybrid solutions or services in those regions.
Thus, issues with network transmission as well as cloud security issues are likely to hinder the webcast and webinar market in developing nations.
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The Key Market Segmentation of the Global Webinar and Webcast Market:
Global Webinar and Webcast Market can be divided into Component, Software Deployment, End-User, Enterprise Size, and Geographical landscapes, etc.
Webinar and Webcast Market Segmentation By Component:
Software
Services
Training & Education
Consulting
Webinar and Webcast Market Segmentation By Software Deployment:
Cloud
On-premise
Webinar and Webcast Market Segmentation By End-User:
Banking Financial Services & Insurance
Retail
Healthcare
Education
Automotive
Government
IT and Telecom
Media & Entertainment
Other ( Transportation, Manufacturing)
Webinar and Webcast Market Segmentation By Enterprise Size:
Small and Medium Enterprises (SMEs)
Large Enterprises
Webinar and Webcast Market Segmentation By Geographical Landscape:
North America
Europe
Asia Pacific
South America
Middle East and Africa
Major Key Players in the Global Webinar and Webcast Market Are:
Cisco Systems, Inc.
Adobe Inc.,
Microsoft Corporation
Demio, Inc,
Zoom Video Communications, Inc.
OmNovia
Clickmeeting
The Covid-19 Impact Analysis:
Lockdowns across the three major zones (Europe, Asia, and North America) due to the increase in the spread of Coronavirus (COVID-19) has had a positive effect on the market for webcasts and webinars. Growing demand to enforce social distancing from the government because of the highly infectious character that is Coronavirus (COVID-19) can be seen as having prompted businesses to opt for the work-from-home (WFH) choice and concentrate on the deployment of cloud-based webinar and webcasting services to manage their operations more effectively.
The Global Webinar and Webcast Market Report Highlights:
By geography, the world market for webinars and webcasts can be divided by region into North America, Europe, Asia Pacific, South America as well as Middle East & Africa.
North America is anticipated to be the largest share of the worldwide webcast and webinar market over the forecast time frame due to the significant presence of the top companies and growing demand for continuous internet connectivity, which indicates that the market is likely to grow across the continent. Europe is predicted to rank as the second most important market webinars and webcasts between 2020 and 2030.
The Asia Pacific is projected to grow rapidly for webcasts and webinars during the forecast time frame because of the growing use of cloud computing or platforms, primarily within India, Japan, and China.
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