2020 will see users spending a lot more money on Zoom, Google Meet: Gartner

Cloud-based web conferencing tools — such as Zoom, Microsoft Teams, Google Meet — are set to witness a growth of 24.3% in this year, according to a report by Gartner. The report predicts that the end-user spending on these cloud-based conferencing solutions will reach $4.1 billion in 2020, while it was $3.3 billion in 2019.

“Gartner predicts that by 2024, in-person meetings will account for just 25% of enterprise meetings, a drop from 60% prior to the pandemic, driven by remote work and changing workforce demographics. As a result, there is a higher demand for convenient access to videoconferencing and other collaboration tools,” said the report.

The report also adds that the cloud-based conferencing is the second-fastest growing category in the unified communications (UC) market, after the cloud-based telephony that is projected to reach $16.8 billion in 2020 and grow 8.9% in 2020 and 17.8% in 2021.