as video and web conferencing platforms gaining popularity, the analysis showed that the global video conferencing market size is estimated to reach $6.4b by 2020. and by 2024, the video conferencing software market size is projected to expand further to $20b. one company alone â zoom video â contributes to the majority of the growth. as an industry leader in the video-as-a-service market, zoom provides services in communications, conference rooms, and developer tools like the app marketplace. zoomâs mission is âto make video communications frictionless.â it delivers this mission by providing a web meeting solution thatâs straightforward and easy to use. its also extremely simple to configure and install when necessary, which makes the product scalable across all user groups.
zoom increased its customer satisfaction drastically by developing delighters in the product. however, when anyone is having a meeting, zoom would able to access the unencrypted meeting content. zoom entered the crowded web conferencing market through deploying a freemium strategy, and it helped zoom land a foot in the market. the web conference market is highly competitive, and the features offered by zoom and its competitors are comparable. to keep up with this trend and its revenue growth after the pandemic, it would take more than building the right product.
one can argue that this is a big feat for the company. the word entity signifies that swot can be conducted for anything from a small business to a large multinational. now that we know what zoom is and we have some idea about what a swot analysis is, we can move ahead. it basically means that users can use the service for absolutely free but if they want additional services, they have to pay. it should not come as a surprise that zoom is worth a fortune considering its popularity with the masses.
this is a feature common to all video platforms, where people have the option to create smaller “rooms” to be able to have more focused meetings. zoom already has the credibility; with a little more boost the opportunity is up for grabs. there could be many small potential threats to zoom but here are some of the biggest ones they need to escape immediately. moreover, many other competitors exist and can exist because the barriers to entering this market are very low; the business is easy to replicate. a swot analysis is one of the easiest to understand, use and implement frameworks available for improving your organization. the easiest way to understand and explain a swot analysis visually is to draft it in a tabular form.
the web conference market is highly competitive, and the features offered by zoom and its competitors are comparable. zoom’s direct competitors zoom is seen rubbing shoulders with the established giants in the teleconference and communications industry. rivals such as skype, microsoft zoom has huge competitors in the shape of google and microsoft both of which provide similar, zoom marketing strategy 2020, zoom marketing strategy 2020, zoom market share 2021, video conferencing industry analysis, zoom analysis.
let us discuss some key strengths and weaknesses of zoom before we move on to the future opportunities and threats section to complete our swot analysis. the growth is attributed to the rising demand for video collaboration solutions such as zoom, skype, microsoft teams, and others in various industries. the the boom in zoom’s business also reflected in its financials. zoom generated revenues of $622.66 million in 2020. it was a staggering 88% increase over the, swot analysis video conferencing, swot of zoom, opportunities of zoom, zoom pestel analysis, internal weaknesses of zoom, global video conferencing market analysis, forecast to 2023, zoom competitors analysis, zoom strengths and weaknesses, google meet swot analysis, threats for zoom. what is the industry of zoom? is zoom in the telecommunications industry? what is zoom’s market share? what is zoom’s competitive advantage?
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