The global conference call services market was valued at US$ 8.4 billion in 2017 and is projected to reach US$ 12.5 million by 2026, exhibiting a CAGR of 4.6% over the forecast period, according to Global Conference Call Services Market Report, by Call Service Type (On-premise, Cloud-based, and Managed Conference Call Services), by End User (Corporate Enterprises, Healthcare, Government & Defense, Media & Entertainment, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, The Middle East, and Africa), published by Coherent Market Insights.
Conference call services enable real-time collaboration and communication for the business units of any company or different companies to communicate with its clients or the business units at different locations at the same time. This service is time-saving, cost-efficient, and provides high security of data sharing and conversation recording for future purposes. Some of the major drivers of this market include increasing demand for time-saving communication methods and increasing demand for security of data and confidential conversations between the users. According to Coherent Market Insights, companies such as Cisco and Polycom accounted for over 45% of the total conferencing call services market share in 2017.
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