Video Conferencing Market Statistics

Global adoption of video conferencing marks a revolution in the workplace.

Video conferencing market statistics have become prevalent in the last few years thanks to the unprecedented use of the services during the pandemic and the major subsequent shift to hybrid work.

The level of growth of video conferencing services made them a cornerstone of contemporary collaboration.

The mass adoption is precisely the reason why we put together this guide to video conferencing market statistics, as we believe marketers should pay close attention to this trend in the collaboration industry.

In this guide, we’ll highlight the key video conferencing market players and their respective market shares and revenues, the trends and statistics across different regions, and consider some of the possible future video conferencing market trends.

Let’s dive in.

Key Video Conferencing Market Statistics

1. By 2032, the value of the video conference market is expected to grow to reach $22.26 billion, with a CAGR of 12.30%.
2. In 2022, the worldwide number of WhatsApp Business users (messenger and video) surpassed 1.26 billion users, with the APAC region having the highest number (808.17 million).
3. In 2023, Zoom’s revenue increased by 6.9% from 2022, reaching $4.39 billion.
4. In Q2 of 2020, Microsoft Teams had the highest number of downloads to date, namely 70.43 million.
5. Cisco Webex had 650 million monthly participants in meetings in 2021, which, on average, amounts to 21.7 million daily participants in meetings.
6. North America is the biggest region in the world in terms of video conferencing, taking up a 41% share of the entire global market in 2022.
7. The APAC video conferencing market is  expected to reach $6.8 billion in 2026.
   

First, we’d like to take a look at the overall value of the video conferencing market across the years and the market share of different providers.

Market Value

According to Precedence Research, the value of the video conferencing market was estimated to be $7.01 billion in 2022. By 2032, the figure is expected to grow to reach $22.26 billion, with a CAGR of 12.30%.

The market encompasses both hardware and software products and solutions, with 40% of the market being held by cloud companies and 60% by on-premises solutions, as of 2021. 

In the next section, we’ll look at the market shares of the key video conferencing market players.

As you can see from the infographic above, the video conference market is home to several dominant players, namely Microsoft Teams, Zoom, and Cisco. Their individual popularity fluctuated through time, and we’ll dive into each of these vendors in the next section to learn more.

In terms of market penetration, statistics tell us that almost two-thirds of companies used at least one video conferencing tool in 2022, with Zoom being the most popular tool.

Biggest Video Conferencing Market Players

In this section, we’ll take a look at some of the most popular video conferencing solutions worldwide. As you can see above, WhatsApp Business, Zoom, Teams, and Google Meet were the most popular business conferencing tools in 2022.

WhatsApp Business

Given the ubiquity of Meta’s WhatsApp software among consumers, it’s no surprise that it’s also been widely adopted for business purposes, including customer discussions over text messages and video conferencing. We’ll now take a look at the software’s user and revenue statistics.

Downloads & Users

In 2022, the worldwide number of WhatsApp Business users (messenger and video) surpassed 1.26 billion users, with the APAC region having the highest number (808.17 million). As of June 2023, the conferencing software has 200 million monthly active users (MAUs).

The number of downloads of WhatsApp Business reached 283.1 million that year, 73.5 million more than in 2021.

Revenue

The total revenue of WhatsApp business in 2022 was $333.6 million. And, as you can see from the infographic above, APAC was the most lucrative region for WhatsApp Business, having made $127.1 million in 2022. 

However, Europe was the software’s most lucrative market in terms of the average revenue per user (ARPU), which in that region was $1.31 in 2022. APAC’s ARPU in the same year was just $0.16.

Zoom

According to the research by Email Tester Tool, Zoom was the most popular video conferencing tool in 80 countries in 2022, twice as many as in 2021. These countries include all North American countries, the UK, the Nordics, and Australia, among others. Let’s take a look at its usage and revenue statistics.

Downloads & Users

In the first months of the COVID-19 pandemic, Zoom had almost 300 million daily meeting participants. They have customers from across various industries and sectors, of all sizes.

Stats show that, in 2021, Zoom’s number of customers with over 10 employees grew by 385,000, reaching 467,100 customers. In 2022, this figure grew even more, reaching almost 510,000 enterprise clients.

Revenue

Understandably, the revenue of Zoom had increased significantly over the last three years, thanks to the unprecedented usage during the pandemic. In 2021, it jumped from $622.7 million to $2.65 billion, and then it almost doubled in 2022, reaching a total $4.1 billion.

The 2023 revenue figures tell us that it’s increased by 6.9%, reaching $4.39 billion. These figures suggest that Zoom’s video conferencing revenue is much higher than WhatsApp Business’.

Zoom investors’ report for the latest quarter suggests the revenue of almost $1.138 billion, up 3.2% YoY.

Microsoft Teams

The Microsoft Teams tool is another popular video conferencing and collaboration software. It’s part of the Microsoft Office 365 suite of collaboration tools, provided in most Microsoft packages.

According to Email Tool Tester, it was the biggest video conferencing tool in 41 countries in 2021, but in 2022, it only topped the charts in seven countries, including Poland and Jordan. Despite the Office suite being virtually indispensable to any modern business, people still prefer Zoom over Teams, on average.

Downloads & Users

Just like Zoom and WhatsApp Business, the downloads of Microsoft Teams skyrocketed in the last few years. In Q2 of 2020, it saw the highest number of downloads to date, 70.43 million, to be precise. The EMEA region experienced the most downloads in that period (27.41 million).

However, the number of downloads started dropping every quarter after that, with only 26.44 million downloads in Q3 of 2023. In this quarter, the Americas were downloading Teams the most, with 9.87 million downloads coming from region.

It’s hard to estimate how many companies use Microsoft Teams alone. However, statistics tell us that Office 365, which is the family of SaaS Teams belongs to, has over 2.6 million corporate clients, as of 2023. The highest number of users is concentrated in the US, with 1.35 million.

In terms of daily active users, Microsoft Team had 270 million DAUs in 2022. That figure amounts to a 60% increase from the number of DAUs in 2021 (145 million).

Revenue

Since Microsoft Teams is part of the company’s productivity and business processes segment, which includes Office 365, it’s hard to estimate its revenue in isolation from the segment’s entire earnings.

According to the company’s investor report, the total revenue of Microsoft in FY 2023 was $211 billion.

When it came to the productivity segment (which includes Microsoft Teams), the fiscal year’s revenue was $69.27 billion. Therefore, the segment makes up almost 25% of Microsoft’s overall FY 2023 revenue.

Google Meet

Google’s Google Meet tool (formerly known as Google Hangouts) is the most popular video conferencing tool in 28 countries, including Brazil, India, and Italy. The tool is part of the Google G Suite, which also includes Google Drive and Gmail.

Downloads & Users

It’s hard to say how many people use Google Meet, given that the G suite workspace has over 3 billion users worldwide, and they all have access to the app. However, statistics tell us that as of 2020, Google Hangouts had 6 million paying customers.

Revenue

In terms of revenue, Google Meet comes under the Google Cloud revenue segment of the Internet giant. As of September 2023, the Google Cloud revenue was $8.41 billion, making up 12.4% of the overall Google Revenue for that period ($67.99 billion).

The overall Google Cloud Revenue figure amounts to a YoY increase of 20.2%.

Cisco Webex

The last video conferencing tool on our list is Cisco Webex. As of March 2021, it was the fifth-most popular digital communication tool, used by 7% of the world.

Downloads & Users

According to the information from Webex, they’ve reached 10 million users worldwide in April 2023 – up from 6 million the year before. Compared to the number of users of other video conference SaaS tools on the list, Webex has the fewest users. 

However, reports also say that Webex had 650 million monthly participants in meetings in 2021, which on average amounts to 21.7 million daily participants in meetings. That’s about 7.2% of Zoom’s relevant figure of 300 million daily meeting participants. 

In terms of paying corporate clients, Webex had 36,000 enterprises paying for the video conferencing service in 2021, compared to Zoom’s 467,000, so less than a 10th.

Revenue

Cisco Webex is part of the company’s Collaboration revenue stream. According to Cisco’s latest reports for FY 2023, that segment received $4.05 billion in revenue in the aforementioned period. That figure is similar to Zoom’s revenue, but it’s a drop of 9% from the revenue earned in the previous period.

Regional Video Conferencing Statistics

We looked at the top players in the video conferencing market around the world. In this section, we’re going to focus on the regional video conferencing market statistics, shedding some light on how this dynamic industry has been evolving around the world.

North America

North America is the biggest region in the world in terms of video conferencing, taking up a 41% share of the entire global market in 2022, up from 39% in 2021. Data Horizon research predicts that it’ll remain the biggest market in the next few years, growing steadily until 2032.

Interestingly, the fastest-growing video conferencing market in the region is Canada.

Europe

Europe is another significant market for video conferencing development. By 2030, the region’s value of the video conferencing market is forecast to reach $22.7 billion.

Germany is the largest player in the European market of video collaboration tools. The country’s video conferencing market is expected to be worth $96.4 million by 2027.

APAC

North America might be the largest video conferencing market, but the APAC market is  growing at an exponential rate, and is expected to reach $6.8 billion in 2026. Grand View Research predicts a CAGR of over 14% in 2023-2030 in this market, as adoption of remote work is boosting the development of digital infrastructure in APAC.

Future Trends of the Video Conferencing Market

We’ve taken a close look at the positions of the key players of the video conferencing market and its development around the world.

And, whilst we don’t possess a crystal ball that allows us to predict the future state of this market, we can make some educated guesses as to the upcoming trends, based on our research.

Here are some of the key trends we identified that can shape the video conferencing market of the future.

Prevalence of Hybrid Work

More and more employers are realizing the value of implementing a hybrid workplace.

Video conferencing tools have been instrumental to hybrid working development during COVID-19.

We believe that, in the future, the video conferencing market will continue catering to the needs of hybrid work environments, offering productivity and collaboration features for both in-office and remote workers.

AI, Automation & Personalization

These productivity tools add serious value to video conferencing solutions and we expect to see more of them in the coming months.

Additionally, we believe that personalization of video collaboration services will be on the up, just like in other industries.

For instance, customizable and branded layouts for companies and specific events, bespoke branding tailored to thought leaders, and branded virtual meeting spaces would be excellent examples of how the video conferencing market will become more user-centric.

Security

With cyber threats evolving every day, it’s logical that the video conferencing industry will be adopting tougher cybersecurity solutions, tailored to the landscape of tomorrow.

The implementation of advanced encryption protocols, secure E2E communication, and enhanced authentication mechanisms are a few of the add-ons we believe will be essentials for workplace collaboration vendorsto implement to protect users from data breaches and unauthorized access.

Closing Thoughts

We looked at the overall state of the video conferencing market today, and explored the key players involved. Additionally, we considered some of the possible future trends in that market. 

To conclude our analysis, we’d like to point out once more that the video conferencing market has experienced unprecedented development in the last few years, largely as a result of digital transformation.

Going digital has been both a consequence of, and a driving force behind, the shift to remote and hybrid work. With the workplace changing so drastically, the video conferencing market is changing with it, and we believe that it’s not going to slow down any time soon.