In a recent published report, Kenneth Research has updated the market report for Webinar and Webcast Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Webinar and Webcast Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Global Webinar and Webcast Market Overview
Webcast technology enables the broadcast of various events over the internet which can be accessed via a single URL. Webinars are those internet-based events which use the technology of webcast. Seminars and learning programs through webcast technology are known as webinars. These are generally used to spread information or for huge business meetings. Webinars are accepted by various government and private organizations across the globe in order to provide information and learning.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
Technological advancements in IT and communication technology are growing across the globe which helps to provide better communication services. These services will further provide ease to the webcast technology to broadcast various events and webinars across the globe. Webinars can be hosted using webcast software and these webinars have a high level of interactive capabilities.
Market size and forecast
The global webinar and webcast market is anticipated to expand at CAGR of 7.6% over the forecast period i.e. 2016-2023. The market was valued USD 547 Million in 2015 and is estimated to reach USD 800 Million by 2023. The implementation of webcasts and webinars across the globe by numerous enterprises is expected to showcase significant growth over the forecast period.
The key players of the webinar and webcast market as follows:
Cisco WebEx, Adobe, Microsoft Corporation, Mega Meeting, Skype, Click Webinar, OmNovia, Cisco WebEx, Adobe Connect, Microsoft Corporation, Mega Meeting, Skype, Click Webinar, OmNovia, Webinato, Clickmeeting, Onstream Media and Others
North America accounted for the largest revenue share of 77% in webinars and webcasts market in 2015 and the market is expected to maintain its dominance over the forecast period i.e. 2016-2023. Wide-scale application of webinars and adoption of webcast and webinar technology in numerous organizations across the region are fostering the growth of webinar and webcast market.
On the other hand, Europe and Middle-East & Africa region is projected to be the second-largest share contributor in terms of revenue across the globe over the forecast period i.e. 2016-2023. Rapid pace in urbanization in both the regions and digitization of education and the corporate sector are some of the major factors expected to flourish the need for webinars and webcasts during the forecast period 2016-2023.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
The business environments are changing rapidly worldwide and implementation on various webcast and webinars technology are carried out expressively in order to manage the workforce in organizations. Initiatives are rising towards business communications and web-based learning and training are expected to gain maximum traction for webinars and webcasts across the globe.
Moreover, webinar and webcast importance is growing in industries and educational institutions owing to the rising need for advanced communication and interactive technology to provide training and learning to remote locations across the globe. Webinar enables the facility to join and interact from any remote location with integrated internet facilities to the users. Rising penetration of smart devices and growing awareness among the tech-savvy population towards advanced interactive technology are some of the factors likely to impose a positive impact on the growth of webinars and the webcasting market in the near future.
Webinar and webcast is effective communication and interactive tool that have various advance functionalities. Interfaces for users such as joining from remote locations are gaining traction among the population in developing countries. These factors are swelling the demand for webinars and webcasts across the globe. Moreover, universities and other educational institutes are providing classes and training through the webinar. Emphasizing webcast technology by corporate enterprises and the ease of attending meetings through webinars are improving the interaction between the participants.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).
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Likewise, rising penetration of smart gadgets along with advanced internet services and the growing trend of Bring-Your-Own-Device in numerous government and private organizations are propelling the demand for webcast and webinar market across the globe. Ease of attending fairs and meetings that companies organize to showcase their products and technologies is likely to attract more users and participants for the webinar in the near future.
The market of webinars and webcasts is also driven on the back of social media integration and growing webinars hosting through various social media interfaces. Apart from this, rising digitization across the globe sequentially raise the need for webinar and webcast technology to spread information among the employees of an organization. Webinar and webcast technology benefits the organization as well as the employees in the direction of development.
Conversely, lack of advancements related to web-based services in undeveloped nations, slow adoption of webinars in government organizations and availability of other conferencing techniques are some of the major factors which are hindering the growth of webinar and webcast market across the globe.
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The market report answers the following questions:
What aspects regarding the regional analysis of the market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
- The report consists of a detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
How is market segmentation explained in the report?
- The market is segmented by – (segmentation)
- The report studies various factors responsible for the growth of the market in each segment accompanied by the analysis of the largest market shareholding segment.
- Additionally, several segments catering to the growth of the market are discussed at length in this business intelligence report accompanied by sub-segments and individual market values for each section.
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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
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