SOURCE: Frost & Sullivan

April 27, 2011 09:33 ET

Web Events Poised to Hit High Growth Trajectory as Vendors Reduce Cost and Complexity, Finds Frost & Sullivan

The Future Holds Growth Opportunities as Web Events Are Witnessing Increasing Adoption Across Multiple Groups Within Organizations

MOUNTAIN VIEW, CA--(Marketwire - Apr 27, 2011) - The growing need to communicate a company's message to a large global audience, while eliminating the exorbitant cost of conducting in-person meetings and events is driving growth in the Web events market. Today, web event vendors are gearing up to offer easy-to-use and lower-priced solutions, drawing more users. The growing migration toward Web-based software as a service (SaaS) tools has further fueled growth in this market. As users look to expand their reach to customers, partners and employees on a global basis, applications such as Web events are becoming a critical component of enterprise communications.

New analysis from Frost & Sullivan (http://www.conferencing.frost.com), World Web Event Services Markets, finds that the market reached $226.8 million in 2009, growing at the rate of 16 percent over the previous year. Revenues expect to reach $563.2 million in 2015, supporting a widening user base, with a projected revenue growth of 16.4 percent (CAGR 2009-2015).

If you are interested in more information on this study, please send an e-mail to Mireya Espinoza, Corporate Communications, at mireya.espinoza@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

"The overall outlook for web events is strong," says Frost & Sullivan principal analyst Roopam Jain. "The emergence of lower priced do-it-yourself (DIY) products will accelerate adoption among SMBs."

The market has seen an accelerated pace of new product development, expanded tools and services leading to a rapidly evolving landscape. The global market for Web events continues to evolve as new technologies are developed and introduced. Self-service/DIY offerings and social media integration are positively affecting adoption as users increasingly incorporate Web events into a larger enterprise communications strategy.

As the market becomes more mature, vendors are employing a three-pronged strategy to grow; migrating away from enterprise to SMB, penetrating deeper into corporations by providing easy to use and DIY solutions and expanding into international markets.

Inadequate market awareness and education delineating the goals and benefits of Web events from other related applications are hindering adoption. Difficulty in understanding the value of Web events and attaching a hard-dollar ROI to the benefits of these events have also deterred wider deployments. With the market approaching maturity in North America, ease of deployment and lower pricing will grow in importance as vendors look to widen penetration in enterprises as well SMBs. The desired user benefits includes cost and ease of use as customers prioritize on speedy implementation without enduring the long learning curve.

"The line needs to be drawn more clearly for business goals, use cases, and value proposition provided by web events versus other meeting/collaboration tools," says Jain. "It is important that vendors focus on creating easy to use solutions and educate customers on the value proposition to move the market beyond a niche status."

World Web Event Services Markets is part of the Conferencing & Collaboration Growth Partnership Services program, which also includes research in the following markets: World Conferencing Hosted Services Market and North American Web Conferencing Hosted Services Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

World Web Event Services Markets
N766-64

Contact Information