$4.1B expected to be spent on web conferences this year

Global spending on virtual meetings is expected to top $4.1 billion as the coronavirus pandemic has forced employees to work remotely and surged the use of web meeting and conferencing platforms, according to a report from LearnBonds.com. The jump in cloud-based conferencing spending represents a 55% increase in two years. Additionally, 67% of businesses increased their spending on web conferencing software. In 2018, $2.7 billion was spent on web conferencing worldwide. Global spending on web conferencing is forecast to hit $4.8 billion by 2023. Zoom,  Google Meet, and Microsoft Teams are three companies most benefiting from the increase in virtual meetings.