Zooming in: Latest Zoom Statistics & Trends for 2023

Kate Sukhanova

from Techreport on 2023-07-28 15:12 (#6DBWR)

In retrospect, it's almost difficult to believe a video conferencing company rose to the top of the charts thanks to the global COVID pandemic. And yet, that's exactly what happened for Zoom in 2020 - nine years after it was launched.

An invaluable player in the hybrid working space, Zoom experienced huge growth in a very short period of time. It reached almost 300 million daily meeting participants in Q2 of 2020, and its share price increased steadily through the year. Zoom's usage remains high, and it's ubiquitous across different industries and sectors today.

Given its popularity, it's no surprise that marketers and businesses are paying attention to videoconferencing SaaS statistics. We'll now take a look at some of Zoom's user, revenue, and funding statistics, as well as its market impact and trends for the future.

Key Zoom Statistics & Trends for 2023

Zoom is used by 86% of Fortune 100 and 71% of Fortune 500 companies.
In April 2020, the first pandemic peak, Zoom had 300 million daily meeting participants, it estimates, on average.
The Zoom mobile app was downloaded over 485 million times in 2020.
As of January 2023 (FY23), Zoom's total annual revenue was$4,392,960 - a 7.13% increase on the previous fiscal year.
Zoom's peak stock price was$559,reached on October 20, 2020.
As of Q2 of 2022, Zoom had sold over 4 million Zoom Phone units worldwide.
In 2021, 25% of US remote workers said they had Zoom fatigue.

Zoom User Statistics

Source: Statista

Due to the huge increase in remote work during the COVID-19 pandemic, the use of Zoom exponentially increased during 2020 and in the months and years after. Companies and institutions of all sizes now use Zoom for meetings, events, and collaboration. We'll now take a look at Zoom's users and user statistics.

Total & Daily Active Users

Zoom-customers-with-10-employees-statist

Source: Statista

In April 2020, the first pandemic peak, Zoom had 300 million daily meeting participants on average, according to its estimates. This figure signifies a 30x growth from 10 million daily meeting participants recorded in December 2019.

These numbers notwithstanding, it's hard to estimate the exact total number of Zoom users who are individual humans. However, the number of companies with more than 10 employees that used Zoom grew from 81,900 in FY2020 to 467,100 in FY2021.

According to Zoom, it's used by 86% of Fortune 100 and 71% of Fortune 500 companies. And as of Q1 of 2023, Zoom had almost216,000 enterprise customers - and that's not including SMEs, educational institutions, governments, and other organizations.

We'll delve into organizations that use Zoom later in this section.

Zoom User Organizations

Organizations from many different sectors and industries use Zoom. Here's an overview of some examples by sector:

Sector/industry	Zoom customer example	Countries
Architecture	WRNS	USA
Construction	Hassan Allam	Egypt
Energy	World Fuel Services	USA
Entertainment	Channel 4	UK
Events	Marche du Film	France
Banking & Finance	Nasdaq	USA
Healthcare	NHS	UK
Retail	Acosta	USA
Tech	Juniper Networks	USA

Education

Educational institutions widely use Zoom today. As of 2021,over 125,000 schools in 25 countries were using it, following the company's decision to make Zoom free for schools.

Universities aren't far behind, either. Top colleges, such as the University of Notre Dame and Science Po in Paris and the University of Sydney, have been making the most of Zoom, with the latter institution increasing its Zoom use by 20 times during COVID-19.

Customer Satisfaction & Loyalty Statistics

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Zoom has a very high level of brand awareness around the world. For example, in the US, it's 83%, and in the UK, it's 87%. It's also very successful when it comes to customer loyalty.

Given these statistics, it's no surprise that Zoom was in the top five work apps of 2021, according to a study by Okta.

Desktop vs. Mobile Usage

Zoom-mobile-app-downloads-worldwide-stat

Source: Statista

Despite being a cross-platform application, Zoom's mobile and desktop versions offer slightly different features. For instance, Zoom's desktop version doesn't allow you to dial in from a local phone number.

However, the mobile version doesn't let you save the in-app chat, create breakrooms, or give remote control to other participants.

Despite these limitations, the Zoom mobile app was downloaded over 485 million times in 2020 -30 times more than in 2019. It remains one of the top business apps on the App Store and Google Play Store to this day. TheAPAC region had the most downloads in 2020and the period beyond.

Zoom Market & Revenue Statistics

Zoom SaaS has a very prominent place in the videoconferencing and B2B SaaS market. Its success is reflected in its market share and revenue in recent years, as well as its valuation and IPO success.

In this section, we'll take a look at the Zoom market and revenue statistics and its valuation and funding.

Market Share by Region

Videoconferencing-software-worldwide-sta

Source: Statista

In 2022, Zoom had the biggest slice of the videoconferencing SaaS pie, with a global market share of over 55%.

According to a study by Email Tool Tester,Zoom is the most popular video call tool in North America, Australia, Scandinavia, Russia, the UK, and France. Google Meets has a larger share in Brazil, India, and Italy, and Microsoft Teams dominates the Central European market.

Here's a short breakdown of the market share of these platformsacross different countries in 2022:

Country	Zoom Market Share	Teams Market Share	Google Meet Market Share
Australia	49.86%	18.2%	10%
USA	58.36%	9.5%	11.6%
UK	52.65%	23.7%	8.7%
Germany	37.7%	20.65%	6.2%
Japan	71.4%	2.36%	4.3%
Argentina	58.8%	1.6%	26.3%
Canada	47.3%	14.2%	21.3%
Ukraine	46%	7.56%	25.14%
South Africa	46.15%	25.3%	13.8%
UAE	31.4%	21%	38.36%

Zoom Total Revenue & Growth Trends

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It's no surprise that Zoom's revenue increased significantly in FY21, given its skyrocketing use during the pandemic. The revenue for FY20 (ending on January 31, 2020) was $622 million, but a year later, Zoom's revenue had increased to $2.651 billion- amounting to an increase of over 325%.

As of January 2023 (FY23), its total annual revenue was$4.392 billion- a 7.13% increase from the previous fiscal year, at $4.099 billion in revenue.And the first quarter of 2023 also showed promising revenue results - the company made over $1.105 billion in Q1, showing a 3% YoY growth.

Revenue Breakdown by Region

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The Americas region is the biggest slice of the revenue pie for Zoom as of Q1 2023. Indeed, according to Zoom's annual investor reports, the regionhas been bringing in the most revenue for the last three financial years.

In FY23, the revenue from the Americas made up 70% of total Zoom revenue, amounting to over $3 billion.

The revenue from the EMEA region in that period was$590.5 million -almost the same as the year before. And the APAC region brought Zoom $748.276 million in FY23 - 3% less than the previous year.

Zoom Valuation & Funding

Source: Statista

Before Zoom's IPO in April 2019, the company's market cap was $6.8 billion. At the IPO, Zoom's stock surged 80% on its first day and was trading at $62 by the end of the day. As of July 27, 2023, Zoom's stock price is$71.93.

The year 2020 was a good one for Zoom's stock. It was continuously rising from June 2020 to October 2020, reaching$559on the 20th of October. It dipped after the COVID-19 vaccine was announced and has never reached that peak again. Zoom's shares have been tradingat a value below $100 since August 2022.

According to Crunchbase, Zoom had nine funding rounds, the last of which took place in November 2021. It was a post-IPO equity round, and it raised $130 million for the company.

Zoom Technical Statistics

Zoom offers features for its users that range from videoconferencing and events to a full suite of apps and APIs. In this section, we'll take a look at the usage statistics of these features and what value they can add.

Why People Use Zoom

As of 2020, the overwhelming majority of Zoom users (89%) used the software for work purposes, such as meetings, video calls, and webinars.63% of people used Zoom for personal purposes, such as conversations with friends and family. It goes without saying that there's a large overlap between the two groups.

Calls & Meetings

Source: Statista

The number of Zoom meetings skyrocketed during the pandemic, but according to the statistics, the numbers haven't fallen in the years since.

The fourth quarter of 2020 saw101 billion Zoom Meetings, and the number of meetings that took place in the following quarter increased to over 2.6 trillion. Q3 2021 saw approximately 3 trillion Zoom meetings. This includes both free meeting time (up to 40 minutes) and paid meetings.

According to Gitnux, the average Zoom meeting lasts for 30-60 minutes.Zoom's insights confirm this - although, according to the company, 54 minutes was the average meeting length in 2021.

The same insights tell us that ten was the average number of meeting participants. Zoom's free version allows up to 100 participants, and the paid plan allows up to 1,000.So, the chances are that you don't need Zoom's paid version if you plan to talk to less than 100 people for less than 40 minutes.

Events & Webinars

In addition to video calls, Zoom is also popular for hosting events, such as lectures and webinars. As of Q3 of 2021, Zoom had45 billion webinar minutes. Considering that in Q3 of 2020, it only had 3 billion webinar minutes, we can say for certain that Zoom events have been gaining momentum.

Zoom Apps Marketplace

The Zoom Apps marketplace is home to over2,500 apps. Like Slack's suite of apps, they offer added value for productivity, analytics, automation, and other needs for various industries and applications. In addition to the main suite of apps, Zoom also offers 11 apps for government clients.

Here are some examples of popular Zoom apps in different categories:

Category	Application
Analytics	Productiv
CRM	Zoom for Hubspot
Collaboration	AI Notetaker by Fathom
HR	Greenhouse
Note Taking	MeetRecord
Sales	Salesloft Conversations
Workflow Automation	AccessOwl

Zoom Phone

Zoom Phone(formerly Zoom Voice) is a Zoom cloud VoIP system launched in 2019, serving as an add-on for businesses. It allows inbound and outbound calling through a public switched telephone network (PSTN) so that Zoom video users have all their business communications in one place, video and voice alike.

As of Q2 2022, Zoom had sold over 4 million Zoom Phone units worldwide. Thanks to its global coverage, with 70+ countries supported, and industry-agnostic support of modern, flexible working environments, the solution has proven to be very popular.

Zoom Impact Statistics

As the world adapted to the realities of COVID-19 and remote working, Zoom began to have an increased presence in people's lives. With this, various aspects of Zoom's impact on individuals and businesses came to light. We'll now take a look at some of them.

Employee Engagement

According to Zoom, 78% of British companiesbelieved that videoconferencing boosted morale during the pandemic. That's no surprise since seeing your colleagues on camera is more engaging than simple voice calls.

Zoom Fatigue Statistics

Source: Statista

Despite the increased engagement and productivity enabled by remote work and Zoom, the phenomenon known as Zoom fatigue" also emerged.

The term, which refers to stress caused by excessive videoconferencing, gained prominence during the pandemic.

Being in front of a camera for a prolonged period of time is exhausting, and people who work longer hours experience more Zoom fatigue than other workers.Women reportedly also experience it more than men.

According to Pew Research for 2021, 25% of US remote workers said they had Zoom fatigue. Those figures were slightly higher in 2020 when as many as 37% said they were worn out by videoconferencing.

Future of Zoom & Videoconferencing Market Trends

As we observed, the pandemic dramatically accelerated the adoption of videoconferencing tools, with Zoom emerging as the market leader.

As the world navigated lockdowns and social distancing, both organizations and individuals turned to the internet to stay connected. The videoconferencing market witnessed unprecedented growth - but is it likely to grow further?

Let's take a look at some future trends that may impact the videoconferencing market.

Hybrid Work

EMPLOYEES-PREFERRING-HYBRID-WORK-BY-COUN

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The pandemic might be over, but hybrid work culture is becoming a new norm. Many companies are adopting this approach, combining remote work and in-person interactions. Zoom, recognizing this trend, has been working on integrating features that cater to a hybrid workforce.

AI & Automation

AI is expected to play a significant role in shaping the future of videoconferencing. Zoom is already leveraging AI for various purposes, including real-time language translation, automated transcription services, and smart meeting scheduling.

Coupled with the AI apps in the Zoom Apps Marketplace, these advancements will enhance user experience and productivity.

Virtual Events

Exhibition-industry-market-size-statisti

Source: Statista

The success of virtual events, exhibitions, and conferences during the pandemic has opened up new opportunities for businesses. Even as physical events return, the videoconferencing market is expectedto see continued growth in the virtual events space. In fact, it's forecast to grow to $36.3 billion by 2026.

To capitalize on this, Zoom and other platforms will continue to deploy and invest in features facilitating large-scale virtual gatherings, trade shows, and webinars.

Zooming Out

By now, everyone's realized that Zoom was one of the few winners of the COVID-19 pandemic, having achieved colossal financial success and become a go-to videoconferencing tool for many organizations.

That, coupled with the successful IPO and constant investment in innovations, gives us confidence that Zoom is here to stay and will perhaps even become a full-on end-to-end enterprise collaboration SaaS.

References

The post Zooming in: Latest Zoom Statistics & Trends for 2023 appeared first on The Tech Report.

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