Teleconferencing Creating $400 Billion Opportunity

September 1, 2020, By smallcapfirm,

With or without the pandemic, demand for virtual teleconferencing is here to stay.  At the moment, millions of workers and students are using video chats and conferences to replace in person meetings, and meetings they can’t attend with the pandemic.

There’s so much demand, Grandview Research says the global events market is worth $90 billion at the moment, and could reach $400 billion by 2027.  In addition, Global Market Insights says, “With the ongoing coronavirus pandemic and disruptions in large gatherings, demand for remote training is increasing, eventually driving the video conferencing market demand. Several global enterprises including Microsoft Corporation, Google, Apple Inc., Hitachi, and Amazon have announced mandatory work-from-home policies,” as reported by Global Market Insights.

“The rapidly increasing cases of virus has necessitated the demand for video conferencing software as business travel, educational institutes, conferences are cancelled globally.”

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