Global Webinar and Webcast Market Overview
Webcast technology enables the broadcast of various events over the internet which can be accessed via single URL. Webinars are those internet-based events which uses 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.
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 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. Implementation on webcast and webinars across the globe by numerous enterprises is expected to showcase a significant growth over the forecast period.
North America accounted for the largest revenue share of 77% in webinar and webcast 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 corporate sector are some of the major factors expected to flourish the need for webinar and webcast during the forecast period 2016-2023.
The business environments are changing rapidly worldwide and implementation on various webcast and webinars technology are carried out expressively in order to manage workforce in organizations. Initiatives are rising towards business communications and web-based learning and training are expected to gain maximum traction for webinar and webcast across the globe. Moreover, webinar and webcast importance is growing in industries and educational institutions owing to 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 the advanced interactive technology are some of the factors likely to impose a positive impact on the growth of webinars and webcast market in near future.
Our in-depth analysis segmented the global webinar and webcast market in the following segments:
By Deployment Type
Global Webinar and Webcast Market is further classified on the basis of region as follows:
Growth Drivers and challenges
Webinar and webcast is an effective communication and interactive tool that have various advance functionalities. Interfaces for users such as joining from remote location are gaining traction among the population in developing countries. These factors are swelling the demand for webinar and webcast across the globe. Moreover, universities and other educational institutes are providing classes and trainings through webinar. Emphasizing on webcast technology by corporate enterprises and ease of attend meetings through webinars are improving the interaction between the participants.
Likewise, rising penetration of smart gadgets along with advanced internet services and 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 webinar in near future.
The market of webinar and webcast 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.
The key players of webinar and webcast market as follows:
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