Top 3 Web Conferencing Apps in USA Reach Over 70% Market Share
The coronavirus outbreak has had a huge impact on global business, changing the way companies communicate internally or with their customers. With lockout rules in place and millions of employees staying at home, businesses have had to replace face-to-face meetings with new ways to allow people to talk, resulting in increased usage. web conferencing platforms.
The top three web conferencing platforms in the United States had more than 70% market share in April, data collected by LearnBonds revealed. With 42.8% market share, Zoom has ranked as the leading web conferencing platform among US users.
The number of people using Zoom daily jumped 30 times
The number of Zoom domains in the United States grew rapidly in 2020, reaching more than 15,600 last month, according to data from Statista. However, other markets have seen an increase in the popularity of the web conferencing application. Founded in 2011, Zoom was used by more than 300 million people in daily meetings around the world last month, 30 times more than in December 2019.
Millions of people have chosen Zoom over other platforms because of its ease of access and good user experience. However, the rapid growth in popularity revealed some security flaws, including a vulnerability that allowed an attacker to remove attendees from meetings, hijack shared screens, and spoof user messages. As a result, Zoom has been banned by governments for official use in Canada and Taiwan and many organizations, including SpaceX and Nasa.
As a publicly traded company traded on the Nasdaq, Zoom’s share price was valued at $ 87.66 in early February. Over the next two months, that amount nearly doubled, reaching $ 169.09 at the end of April. After a slight dip, the price stood at $ 155.40 at the end of last week. Additionally, Zoom’s market capitalization doubled from a year ago to over $ 41 billion in March.
Cisco Webex reported 14 billion meeting minutes in March
With 18.7% market share and over 6,800 domains, GoToWebinar is the second most popular web conferencing application in the United States.
Cisco’s video conferencing business, Webex, follows with an 11.2% market share in April and more than 4,000 domains in the United States. Data from Statista also shows that the U.S. web conferencing app reported 14 billion meeting minutes worldwide in March 2020, more than double the January figures.
Statistics show that three of the major web conferencing applications also have around 70% market share in European markets. With 38.4% market share in April, GoToWebinar ranks as the leading web conferencing application in Germany. Zoom and Cisco Webex follow with respectively 27.5% and 13.6% market share.
The data shows that the British, like the Americans, also prefer to communicate via Zoom. The popular web conferencing application reached a 35% market share and 1,195 domains in April. GoToWebinar and Cisco Webex follow with 27% and 11% market share, respectively.