2022 has inherited previous years’ demand for video conferencing software and 2023 is promised to boost this trend even further. The worldwide web conferencing market is expected to grow by around $19 billion by 2025. These stats are telling. Video conferencing app development is on the rise.
With nearly 5.03 billion internet users, 91% of those being mobile, online applications are a highly profitable market. For example, Zoom, a video conference app, Zoom Video Communications annual revenue for 2022 was $4.1B, a 54.63% increase from 2021. The numbers show how much Zoom and the video conferencing market have grown along with it, opening plenty of opportunities to launch your product.
There is a ton of interest in new video chatting products. The market is oversaturated by all-purpose products that serve no single niche, particularly opening new contenders to stake their claim. If 2020 and 2021 were the years of Zoom fatigue and overwrought solutions taking up too much space in the public consciousness, 2023 might be the year of your app taking the world by storm. You may start the great journey by downloading our White Paper!
A step-by-step guide to video chat app development
Market insights and emerging trends
Cost of video chat app development
Timelines for every step of the video chat app development