Global Cloud Meeting and Team Collaboration Market, Forecast to 2029

After experiencing a slowdown in 2023, the cloud meetings and team collaboration market returned to moderate growth in 2024. Revenue in 2024 reached $15.39 billion, growing at 5.1 percent YoY. The market is forecasted to reach $21.62 billion by 2029 at a 5-year compound annual growth rate (CAGR) of 7.0 percent.

Meetings and messaging remain foundational elements of communication platforms and represent a robust opportunity throughout the forecast period. Key growth vectors include AI-powered features, enhanced ease of use, greater engagement, and advanced analytics. The strong emergence of AI and automation is creating seismic shifts in the value of meetings and messaging, changing how users interact with these tools while creating new revenue opportunities for technology providers.

Video and chat have morphed from stand-alone products to integral components of an end-to-end UC stack. Evolving from traditional communication tools into a comprehensive platform where work itself lives, meeting and messaging apps have transformed into persistent collaboration environments that integrate conversations, data, third-party systems, and AI, enabling teams to make informed decisions and work more effectively.

Customer organizations and market participants, including technology vendors, service providers, channel partners, resellers, and IT/telecom decision-makers, among others, will find value in leveraging the findings of this study to develop sustainable growth strategies that tap into the growing wave of meetings and chat adoption across organizations of all sizes.