Zoom Has Peaked and Faces Stiff Industry Competition, Can It Survive This?

Just a month ago it seemed like pretty much every single person out there was claiming that Zoom was something that they would want to end up using on a regular basis. A big part of the reason why that is the case has to do with the fact that people were on lockdown and this seemed to be the best option that would allow them to stay in touch with people as well as to get work done through meetings and the like.

However, as the Zoom name starts to become genericized with people referring to video calls from competitors as Zoom meetings, the company has released a statement acknowledging that they have peaked to a large extent. With competitors mounting stiff competition, including the likes of industry giants such as Microsoft and Google, one might assume that Zoom is now down for the count and now that it has had its moment in the sun the company will fade back into the obscurity from whence it came.

If you think this way it is understandable, but at the end of the day Zoom has managed to do something incredible. The service only has 10 million users in December, but now that number has gone up to 300 million. This is a huge growth spurt, one that is going to have a lasting impact both on the industry as well as the company itself. The company has also seen a 169% increase in revenue from last year, earning a massive 328.2 million dollars so far, and if you look at the company’s users then you would see that the number of accounts that belong to companies with 10 or more employees has gone up by an enormous 354% percent all the way to 265,400, something that indicates that the company might be set at least for the near future.



Read next: First Quarter Report for 2020 Shows Massive Drop in Smartphone Sales Due to Covid-19

No comments:

Post a Comment