With the rise of remote and hybrid work, the Unified Communications industry, or UCaaS (Unified Communications as a Service), is becoming a competitive field, booming with hundreds of apps. As per the forecast in the Frost Radar Report, the revenue from cloud meetings and team collaboration services market is expected to increase from $14.78 billion in 2021 to $16.38 billion in 2022. Studies in this field are flourishing and the latest innovations range from automated transcripts to AI assistants that reduce meeting fatigue.
At this point in time, it is especially rewarding for Zoho to be recognized as a strong innovator in the cloud meeting market by Frost & Sullivan, a renowned growth strategy consulting and research company. The report by Doug Green includes Zoho as a Strong Innovator in the Cloud Meetings and Team Collaboration Services Market.
What is the Frost Radar?
As described in the report, “the Frost & Sullivan Radar is a robust analytical tool that benchmarks companies’ innovation focus and growth performance in a given market. The dynamic solution offers consistent rating and positioning of companies that are agitating, contending or revolutionizing the industry.“
The report describes their process for the 2021 Frost Radar™ as: “In a field of more than 60 global cloud meetings and team collaboration providers, Frost & Sullivan independently plotted 20 growth and innovation leaders in this Frost Radar™ analysis.“
What the analysis says
The analysis plots 20 competitive apps in the Cloud Meeting and Team Collaboration market against two indices: the Growth Index and the Innovation Index. The report affirms Zoho as a Strong Performer in terms of growth. Here are some key figures from the Frost & Sullivan analysis that discuss Zoho’s place on the Growth Index:
Zoho has seen a huge rise in its cloud meeting (Zoho Meeting) and team collaboration (Zoho Cliq) services during 2020.
With a customer base of 70 million users in more than 150 countries, Zoho saw an overall 700% increase in daily new users of the online meeting and team collaboration services in March 2020.
Following the company’s launch of the Zoho Workplace bundle for remote collaboration in 2020, Zoho included meeting services in the standard edition of the bundle in March 2021 and have seen an increase of usage by the Workplace users by 174%.
The report also provides valuable insights into how cloud meetings and team collaboration tools need to grow in the future:
It has become clear that users need solutions that deliver better outcomes. It’s well known by now that people are experiencing fatigue with video meetings. Technology developers must foster innovation beyond just video meetings to support multiple synchronous and asynchronous modes of connectivity and collaboration, without losing the context or the continuity.
With businesses worldwide embracing hybrid work, it is imperative to provide meetings solutions that address the mix of in‐person and remote participants across geographies with different native languages, and that are adaptable to different work styles.
From the time COVID-19 struck and remote work became the necessary option for most organizations, our team at Zoho Meeting has been relentlessly working on new features and enhancements to make remote collaboration better. From being a small-scale meeting tool in 2019, we have transformed Zoho Meeting into a full-fledged web conferencing platform in the last two years. The Frost & Sullivan report points to some of the main Zoho Meeting features that were decisive in listing Zoho as a strong innovator:
Recent updates for Zoho Meeting include: automated session recording; enhanced chat capabilities; updated custom options for personal and meeting info; introduction of alpha-numeric passwords for tighter security; and integration with Microsoft Teams and Outlook; among others. Zoho also expanded webinar live attendees to 1,000 and enabled YouTube live streaming.
What this recognition means for Zoho Meeting
For Zoho Meeting, this is a valuable recognition of our customer-oriented growth and innovation. Every single feature and enhancement we build into Zoho Meeting is inspired by the feedback and request we receive from our users. We’re happy to take this opportunity to thank all our customers for their unwavering support and the faith they have placed in us. Long-term commitments, a focus on research and development, and our customer-first philosophy are some of the core values we uphold at Zoho. We believe that we will be able to achieve even more by continuing to prioritize these values as we move forward.