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Virtual Meeting Software Market to Grow at a CAGR of 14.2%, during Forecast Period | BlueWeave Consulting

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New Delhi, Sept. 29, 2022 (GLOBE NEWSWIRE) — Global Virtual Meeting Software Market is flourishing owing to the growing popularity of digital media marketing platforms to broaden the audience base, the rise in popularity of online streaming to replace in-person presentations, and the transition of businesses to remote working approaches.

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Virtual Meeting Software Market was worth USD 10.92 billion in the year 2021. The market is projected to grow at a CAGR of 14.2%, earning revenues of around USD 27.19 billion by the end of 2028. The primary driving factor of the market is an increase in the number of companies providing virtual meeting software around the world. A rise in the use of technologies such as facial recognition, as well as increased adoption of VM software by several organizations, are also contributing to the market’s expansion. On the other hand, technical difficulties encountered while using this software pose a significant impediment to growth. Furthermore, for effective communication, people still prefer face-to-face contact with clients and colleagues, which is expected to impede VMS adoption. The extended closure of offices due to lockdowns, on the other hand, is expected to increase the demand for virtual meeting software. However, high software and hardware cost, in turn, may act as a huge restraining factor for the market growth.

Increased Productivity of WFH Employees Increased Demand for VMS

Both the number of virtual meeting software providers worldwide and the use of virtual meetings among corporate and governmental organizations have grown in recent years. A significant rise in productivity among those who work from home has boosted the market, and by 2019, many companies will permit remote work. Furthermore, the industry growth of virtual meeting software is positively impacted by the increased adoption of technologies like facial recognition, better compatibility, and security. Additionally, it is anticipated that the integration of technology, such as cloud-based technology and artificial intelligence, will open up lucrative opportunities for the expansion of the global market.

 

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Adoption of Advanced Technologies

An increase in the use of facial recognition technologies by both the public and private sectors is fueling the market’s expansion. Concerns about privacy and civil liberties, accuracy and effectiveness, transparency, and evidence of biased results led to this adoption. Additionally, facial recognition technologies assist companies in enhancing the level of security at their facilities and offering employees a multifaceted platform, both of which contribute to the market’s growth. Facial recognition technologies can also help company owners and both internal and external stakeholders identify and authenticate the attendees of meetings. This results in offering lucrative opportunities for the Global Virtual Meeting Software Market during the forecast period (2022-2028).

Increased Adoption among Corporate and Government Organizations

As more businesses concentrate on expanding their operations internationally and improving workforce management, the demand for software that enables organizations to hold virtual meetings is anticipated to increase. Additionally, many organizations from a range of sectors, including corporate, BFSI, education, government, and healthcare, are implementing this software to keep up a high standard of customer service delivery despite the global pandemic, thereby reducing their overhead costs and increasing the level of output produced by their workforce. Additionally, many of the most significant market players are launching brand-new software designed for particular industries, strengthening current safety precautions and reducing the knowledge gap between employees and employers.

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Challenge: Inability to Integrate Virtual Event Software due to a Lack of Technological Expertise

Organizations are embracing digital transformation. As a result, organizations are rapidly adopting off-premises applications to save money on software and hardware upgrades. Organizations that have successfully implemented digital transformation face challenges in integrating existing infrastructure with virtual event platform software. A critical activity for a business is configuring an existing business model with virtual event software. Compatibility issues at various business levels necessitate organizations to ensure efficient business operations at various levels. To recreate the live event experience, technical expertise and dependent support are required. Many event managers use various systems for various business operations. Organizations maintain separate systems for email and video conferencing, which increases the chances of failure.

Segmental Coverage

Global Virtual Meeting Software Market – By Event Type

Based on event type, the Global Virtual Meeting Software Market is segmented into Virtual Event, Video Conferencing, Personal Video Meetings, Webinars, Event Management, Lead Retrieval, Attendee Management, Gamification, Education Fair, and Others. Among these, Virtual event accounts hold the largest market share. More accessibility for all employees to interact with clients and coworkers in other locations. Less money is spent on travel and expenses across the organization. More inclusive workplaces for those who are unable to travel. The flexibility of a virtual conference is by design. You can design an event to meet the requirements of the organizers, attendees, and speakers. Additionally, these events give you access to a level of interaction, a fluid language, monetization options, and much more.

Impact of COVID-19 on Global Virtual Meeting Software Market

The market for virtual meeting software has benefited from the pandemic. The COVID-19 pandemic has made it possible to convert conventional events into online meetings with the aid of virtual meeting software. The market has expanded as a result of the rise of remote work settings, which have caused businesses to move to the cloud. Many businesses were compelled by the novel virus’s unprecedented outbreak to search for a digital platform as soon as they could to avoid physical events, meetings, and conferences and guarantee business continuity. The virtual meeting software enables remote or office-based workers to access business-critical information as well as online meetings and conferences. Businesses across a range of end-user industries have been making the necessary investments and budget allocations to enhance customer experiences.

Competitive Landscape

The leading market players in the Global Virtual Meeting Software Market are Cisco Systems, Inc., 6Connex, ALIVE, Avaya Inc., ALE International, Arkadin Cloud Communications, Cvent Inc., Eventxtra, George P. Johnson, GES, Kestone, Martiz Holdings Inc., Microsoft Corporation, Pathable, Inc., uBivent GmbH, Veritas Events, vFairs, Zoom Communications, Inc., and other prominent players.

The Global Virtual Meeting Software Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Don’t miss the business opportunity in the Global Virtual Meeting Software Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Virtual Meeting Software Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Virtual Meeting Software Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Recent Development

  • In April 2021, MediaPlatform and 6Connex partnered to integrate live webcasting and virtual event platforms. With the integration, both companies utilized each other’s capabilities to maximize ROI.
  • In March 2021, Cvent partnered with Accor to launch a leisure request for proposal product to facilitate the end-to-end tracking of leisure contract creation. This integration would support hotels and sales teams and offer a 360-degree vision of sales activities to provide improved service to business-to-business customers.

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in USD Billion
Product Service/Segmentation By Component, By Mode of Deployment, By Enterprise Size, By End-User, By Industry Vertical, By Event Type, By Region. 
Key Players Cisco Systems, Inc., 6Connex, ALIVE, Avaya Inc., ALE International, Arkadin Cloud Communications, Cvent Inc., Eventxtra, George P. Johnson, GES, Kestone, Martiz Holdings Inc., Microsoft Corporation, Pathable, Inc., uBivent GmbH, Veritas Events, vFairs, Zoom Communications, Inc., and other prominent players.

 By Component

    • Service
    • Solution

By Mode of Deployment

    • On-Premise
    • Cloud-Based

By Enterprise Size

    • Large Enterprises
    • Small Enterprises
    • Medium Enterprises

By End User

    • Organizations
      • Public
      • Private
    • Hospitals
    • Educational Institutions
    • Others

By Industry Vertical

    • Education
    • Media & Entertainment
    • Healthcare
    • Aerospace
    • Logistics
    • Telecom and IT
    • Automation
    • Manufacturing
    • Government and Public
    • BFSI
    • Others

By Event Type

    • Virtual Event
    • Video Conferencing
      • Personal Video Meetings
      • Webinars
    • Event Management
    • Lead Retrieval
    • Attendee Management
    • Gamification
    • Education Fair
    • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Please Find Below Some New Report:

About Us 

BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

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Artificial Intelligence

Highlights from the Finale: Day Three of the London Blockchain Conference Unravelled

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As the London Blockchain Conference draws to a close, attendees heard from industry experts on Driving Innovation with Blockchain.
LONDON, May 23, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference were in to witness the final day, which featured a line-up of informative and thought-provoking speakers. Throughout the day, there were exciting panels and presentations which featured cutting-edge ideas and insights.

Day 3 kickstarted with BSVA launching a new report focusing on the role of blockchain in safeguarding data and streamlining transactions.
Other sessions included:
The Intersection of Web3, AI, and Emerging Tech – Somi Aran, Founder of InPeak gave the opening keynote which explored the dynamic convergence of Web3, Artificial Intelligence, and emerging technologies. She delved into how these technologies are reshaping industries and redefining the boundaries of innovation and the potential impacts and opportunities these technologies present.
Bridging the gap: Making Web3 technologies user-friendly – Christine Leong, CIO, nChain – discussed some of the innovative strategies and practical solutions aimed at simplifying Web3 technologies. She also discussed how nChain is planning to transform Web3 from a domain exclusive to the tech-savvy, into a user-friendly ecosystem that empowers all users.
Is code law? – Rules applicable to blockchain networks – panel featuring Marcin Zarakowski, CEO of Token Recovery, Akber Datoo CEO of D2 Legal Technology, Jeffrey Golden, King’s Counsel (Hon) at 3 Hare Court Chambers, Andrei Kirilenko, Professor of Finance at Cambridge Judge Business School, Professor Sarah Green, Law Commissioner at Law Commission, where they discussed that rules apply to the nodes and validators which support the particular network and process its transactions. The group also discussed whether the blockchain protocols’ rules and software code are the only sources of regulation in blockchain networks.
An Introduction to nChain Identity – Thomas Moretti, Head of Product Development at nChain. He spoke about the Self Sovereignty Identity concept and showcased the latest project it is working on – nChain Identity.
Reimagining Roles: How regulated industry leaders are shaping the future of finance – a panel featuring, Andrew Mosson (Chief Commercial Officer of OneTrading, Néstor Palao, Head DLT & Corporate Clients at Sygnum Bank, Laurence Lewandowska, CFO/COO at BSV Association and Wojciech Kaszycki Chairman & Founder at Mobilum. The panel discussed how the new era of digital assets, traditional banking institutions, exchanges, and financial services are being reimagined in the context of emerging technologies such as blockchain and AI.
Please register here if you would like to listen to any of the sessions today. 
If you want to interview any speaker from today’s sessions, please email [email protected].
About the London Blockchain Conference NETWORK. LEARN. ENGAGE.  At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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Nord Anglia Education publishes new insights on the role of AI and metacognition in learning

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LONDON, May 23, 2024 /PRNewswire/ — INSIGHTS, the global publication from Nord Anglia Education, has published two new articles taking an in-depth look at AI in education and the role of metacognition in teaching and learning.

Exploring the role of AI in learning
https://www.nordangliaeducation.com/insights/2024/articles/the-generative-generationIn its ‘Generative Generation’ feature, INSIGHTS explores the role of artificial intelligence (AI) in education, and whether the technology is making it easier for children to learn. Speaking to Nord Anglia’s educators as well as leading experts from the world of academia, it also includes real-life examples of how Nord Anglia’s schools are using AI in the classroom.
For example, Nord Anglia’s British International School in Kuala Lumpur has adapted the technology to create an AI-powered teaching assistant that can personalise learning, guide students through content exploration, and deepen their understanding through interactive activities. Learners define the topic they want to explore and the course specification they are working to, and the AI explores the content with them in a conversational way, enabling them to ask questions as they go. 
Dr Bruce Geddes, Deputy Head of Secondary at the school, told INSIGHTS that AI represents “the biggest opportunity we’ve had in our lifetimes, for many, many spheres, but particularly in education”.
Avenues: The World School in New York, which became part of Nord Anglia in 2023, encourages its students to use AI in their work. As an example, in an app development project students use ChatGPT to generate the bulk of the coding, then review, correct and refine it. This saves them “hours of manual work by leveraging the appropriate tool in an academically appropriate way,” says Lia Muschellack, Director of Technology at the school.
The school also has its own generative AI chatbot, Savvy, built in 2019 and now powered by open AI technology. It can answer queries, provide information, and engage in “diverse discussions ranging from academic topics to casual conversations”.
“We understand that our students will be actively leveraging these tools throughout their academic and professional pathways, so we want to make sure they not only understand the potentials and limitations, but that they have tinkered and truly experienced them,” Muschellack explains.
Metacognition: a learning superpower
In its feature ‘Metacognition. Helping Kids Unlock the Power of ‘Thinking about Thinking’, INSIGHTS looks at how students can develop the important skill of metacognition.
“Metacognition is the ability to be aware of our cognitive or thought processes and to monitor, reflect on, and change those processes,” Dr Rose Luckin, Professor of Learner Centred Design at the University College London Knowledge Lab, told INSIGHTS.
Nord Anglia Education is working with Dr Luckin to develop its approach to metacognition and to help teachers introduce metacognitive strategies into classrooms. It has developed a metacognitive framework of six “Learner Ambitions” to help students develop the 6 Cs: to become critical, creative, committed, and curious learners, working compassionately and collaboratively in the classroom and beyond.
As the article explains, Nord Anglia’s deep dive into metacognition has many goals: developing student agency, boosting academic performance, and developing ‘future’ skills that employers want. The framework is being initially applied across 27 Nord Anglia schools around the world and its impact will be measured in independent research in partnership with Boston College, reporting in 2025.
Nord Anglia’s examination of metacognition also involves exploring personalised goals and thinking routines. For instance, students at Nord Anglia International School Hong Kong use the “Step In, Step Out, Step Back” routine to develop empathy and understanding in their studies. “It’s about asking the right questions; those really big questions that lead to even more questions,” says Raquel Thomson, the school’s Deputy Head of Primary. “Thinking strategies like this stay with students and serve a purpose whatever they do in their lives, whether they choose to be a scientist or a teacher or go into business.”
For media enquiries please contact: Francesca Milani Communications Manager, Digital Education Portfolio +44 20 7131 0000 [email protected] 
About Nord Anglia Education:
As the world’s leading international schools organisation, we’re shaping a generation of creative and resilient global citizens who graduate from our schools with everything they need for success, whatever they choose to be or do in life.  
Our strong academic foundations combine world-class teaching and curricula with cutting-edge technology and facilities, creating learning experiences like no other. Inside and outside of the classroom, we inspire our students to achieve more than they ever thought possible.  
No two children learn the same way, which is why our schools around the world personalise learning to what works best for every student. Inspired by our high-quality teachers, our students achieve outstanding academic results and go on to study at the world’s top universities.  
To learn more or apply for a place for your child, go to nordangliaeducation.com.
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Facing the Power Crunch: Tech Developers Push for More Efficient Hardware Amidst AI Boom

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USA News Group News Commentary Issued on behalf of Avant Technologies Inc.
VANCOUVER, BC, May 23, 2024 /PRNewswire/ — USA News Group News Commentary – In order to power the ongoing artificial intelligence (AI) revolution, behind the scenes there’s going to need a lot more investment and… power. This is because cloud based services, especially those fuelling new AI capabilities, requires lots and lots of power, which is allowing contractors to cash in on building rooms containing power management equipment. But while the demand for more AI solutions is set to threaten the world’s electricity grids according to Blackstone CEO Steve Schwarzman, tech developers are working diligently to make hardware more efficient and to service this surging demand, with several developments recently announced by tech companies including: Avant Technologies Inc. (OTC: AVAI), Advanced Micro Devices, Inc. (NASDAQ: AMD), Microsoft Corporation (NASDAQ: MSFT), Broadcom Inc. (NASDAQ: AVGO), and Astera Labs, Inc. (NASDAQ: ALAB).

The article continued: According to Research and Markets, the Global Data Center Infrastructure Market alone is expected to nearly hit US$6 billion by 2029, growing at a CAGR of 9.58%. Analysts at Exactitude Consultancy are also projecting the Global Data Centre Market as a whole, will reach US$536.38 billion by 2030, growing at a CAGR of 10.72%.
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology
Avant Technologies, Inc. (OTCQB: AVAI) (“Avant” or the “Company”), a leading innovator and enabler of AI infrastructure technology, today announced its engagement with Wired4Tech, a renowned AI infrastructure consulting firm.
As part of its existing technology services agreement with Wired4Tech, Avant Technologies has engaged Wired4Tech to conduct comprehensive performance benchmarking of a next-generation AI cloud server that Avant is evaluating for future use in its AI data center cloud infrastructure.
Wired4Tech’s performance benchmarking will encompass a range of crucial metrics, including response time, throughput, CPU and memory usage, disk I/O, network latency, and error rates. These metrics are essential for assessing the server’s ability to handle complex AI workloads efficiently and reliably. Additionally, Wired4Tech will measure the server’s power consumption and anticipated cost savings.
Response time will be evaluated to measure the speed at which the server responds to various actions, providing insight into its overall responsiveness. Throughput analysis will assess the server’s data transfer capabilities, considering factors such as file size, cached or uncached content, and available network bandwidth.
Furthermore, CPU and memory usage will be closely monitored to gauge the server’s processing power and memory management efficiency. Disk I/O performance will be evaluated to ensure smooth data access and storage operations, while network latency measurements will provide valuable information on the server’s communication speed with external systems.
“We are excited to engage Wired4Tech to benchmark the performance of an innovative, next-generation AI server,” said William Hisey, Chief Executive Officer, at Avant Technologies. “By conducting rigorous benchmark testing of this promising server technology, we expect to validate its expected performance and cost-saving benefits.”
The results of the benchmark testing will enable Avant Technologies to further execute on its AI infrastructure business strategy.
CONTINUED… Read this and more news for Avant Technologies at: https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
In other industry developments and happenings in the market this week include:
Advanced Micro Devices, Inc. (NASDAQ: AMD), a leading global semiconductor company with Data Center, Client, Gaming, and Embedded segments, showcased its latest end-to-end compute and software capabilities for Microsoft customers and developers, that utilize AMD solutions such as AMD Instinct MI300X accelerators, ROCm open software, Ryzen AI processors and software, and Alveo MA35D media accelerators. By using these, Microsoft is able to provide a powerful suite of tools for AI-based deployments across numerous markets.
“The AMD Instinct MI300X and ROCm software stack is powering the Azure OpenAI Chat GPT 3.5 and 4 services, which are some of the world’s most demanding AI workloads,” said Victor Peng, president, AMD. “With the general availability of the new VMs from Azure, AI customers have broader access to MI300X to deliver high-performance and efficient solutions for AI applications.”
Microsoft Corporation (NASDAQ: MSFT), global leader in developing and supporting software, services, devices and solutions, announced new computers called “Copilot+” PCS, with the company’s AI tech directly into them, serving to further boost the race among tech giants to push out AI tools to the public. According to CEO Satya Nadella at an event at Microsoft’s headquarters prior to its annual Build conference, adding computer chips tailored to run AI technology to its PCs and tablets will make AI tools and features run faster than if the technology runs through an internet connect, as most chatbots today run.
However, Microsoft is also continuing its efforts to expand cloud-computing services in East Africa, by announcing it is partnering with UAE-based AI firm G42 to invest $1 billion in a data center in Kenya. The data center will be powered by geothermal energy and provide access to Microsoft’s Azure through a new cloud region for East Africa.
Broadcom Inc. (NASDAQ: AVGO), a global technology leader in a broad range of semiconductor, enterprise software and security solutions, announced its latest portfolio of highly-scalable, high-performing, low-power 400G PCIe Gen 5.0 Ethernet adapters to revolutionize the data center ecosystem. The new products offer an enhanced, open, standards-based Ethernet NIC and switching solution to resolve connectivity bottlenecks as XPU bandwidth and cluster sizes grow rapidly in AI data centers.
“Broadcom is prioritizing open standards and fostering collaboration with industry leaders to deliver the most extensive selection of high-performance connectivity solutions for AI infrastructure,” said Jas Tremblay, Vice President and General Manager of the Data Center Solutions Group, Broadcom. “Our 400G PCIe Gen 5.0 Ethernet adapters yet again underscore our commitment to enable the network-centric AI infrastructure platform.”
Astera Labs, Inc. (NASDAQ: ALAB), a global leader in purpose-built connectivity solutions that unlock the full potential of AI and cloud infrastructure, announced expanded PCIe 6.x testing capabilities in its Cloud-Scale Interop Lab to enable seamless interoperability between Aries 6 PCIe/CXL Smart DSP Retimers and a broad range of PCIe 6.x hosts and endpoints. The new capabilities pave the way for AI platform developers to design high-bandwidth, low-latency PCIe 6.x connectivity with confidence, reduce overall development time, and deploy at scale.
“As AI systems continue to advance at a rapid pace, data center operators need to deploy increasingly complex systems on an accelerated timeline,” said Thad Omura, Chief Business Officer of Astera Labs. “Expanding our Cloud-Scale Interop Lab test suite to support PCIe 6.x operation fast-tracks deployment for customers integrating Aries 6 – the industry’s lowest power PCIe 6.x/CXL 3.x Retimer – with solutions from our ecosystem partners.”
Source: https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 
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