Frost & Sullivan Recognizes Zoho as a Growth and Innovation Leader in the Global Cloud Meetings and Team Collaboration Services Market
Zoho’s innovative solutions with recent technology improvements, increasing brand awareness, and smart collaboration services contribute to its market-leading position
Frost & Sullivan has identified Zoho as a Growth and Innovation leader in the Frost Radar™: Cloud Meetings and Team Collaboration Services Market, 2021. Zoho has a strong portfolio of business and collaboration applications for horizontal business use cases, lines of business, and industries, including email, CRM, office productivity, cloud meetings, IT management, project management, HR, and remote support.
Zoho registered a massive rise in its cloud meeting (Zoho Meeting) and team collaboration (Zoho Cliq) services in 2020. With a base of 70 million customers in more than 150 countries, the company experienced a general 700% increase in new daily users of its online meeting and team collaboration services in the first quarter of 2020. Whereas Zoho Cliq message volume increased by 225% daily, online meetings increased by 300%.
The cloud meetings and team collaboration services market, which generated $14.78 billion in 2021, is expected to grow at a compound annual growth rate (CAGR) of 7.2% by 2027, propelled by the need for digital transformation and vertical-specific experiences. A 20% increase in the existing base of installed paying licenses is expected, driven by the delivery of smart collaboration services, equipped rooms for hybrid work, human connections and ad-hoc collaboration, and the rise of virtual events.
“Zoho offers advanced cloud meetings and team collaboration functionality as stand-alone services or as part of much broader productivity bundles, such as Zoho One and Zoho Workplace,” said Alaa Saayed, Information & Communication Technologies Industry Director, Frost & Sullivan. “Furthermore, Zoho offers high-quality and secure video conferencing and collaboration solutions to meet existing demand for data privacy and secure hybrid work.”
“We take pride in the Frost & Sullivan recognition of our brand as a growth and innovation leader in the industry. It is a testament to our market expertise and commitment to empowering effective communications and collaborations among businesses, employees, and customers,” said Raju Vegesna, Chief Evangelist, Zoho Corporation.
Zoho’s enterprise video conferencing and collaboration solutions position it as a market leader due to the following product features:
- The introduction of alpha-numeric passwords for tighter security, a new DND mode, enhanced chat capabilities, and synchronous and asynchronous collaboration.
- Audio and video meeting enhancements, automated session recording, and updated custom personal and meeting information options.
- Integration with Microsoft Teams and Outlook, an expanded webinar with 1,000 attendees, and YouTube live streaming.
- Introduction of new threads, features that minimize context switching, and project and HR management.
Frost Radar™: Cloud Meetings and Team Collaboration Services Market, 2021 provides results from an in-depth analysis built on a 360-degree research methodology where over 60 companies were evaluated. The team of industry analysts identified 20 industry leaders excelling at innovation, most poised for growth and ripe for investment, and recognizes them in the Frost Radar with insight into their innovative offerings, projected growth rates, strengths, and opportunities for the future.