BOSTON, Feb. 29, 2016 (GLOBE NEWSWIRE) -- LogMeIn, Inc.’s (NASDAQ:LOGM) popular online meeting and collaboration tool, join.me, has been named a “market disruptor” by Frost & Sullivan in their 2015 Analysis of the Global Web Conferencing market. The report looked at 19 web conferencing vendors and measured their performance through in-depth interviews, analysis, and third party validation.
Frost & Sullivan sees a new breed of providers that is disrupting the status quo to open up the world of web and video conferencing to the masses. The firm defines “market disruptors” as companies that deliver products that are easy to use and provide instant value to customers at an affordable price.
As stated in their report, “The global web conferencing market is characterized by growth, innovation, and technology advancements. The advent of a new breed of team collaboration tools is disrupting established business models and forcing incumbents to adapt and innovate at a faster pace or be left behind.”
Roopam Jain, Industry Director of Unified Communications and Collaboration at Frost & Sullivan, and author of the report says, “join.me has been successful at targeting SMBs as well as enterprise users that are looking for easy to use and affordable cloud collaboration and has built a solid brand presence in the web,” said “What started as a screen sharing tool and has evolved into a robust audio, video and web collaboration service.”
Some major findings from Frost & Sullivan’s market analysis are:
- The global web conferencing market, which includes SaaS and on-premises solutions, grew at a healthy 9.8 percent in 2015 to reach $2.41 billion in revenue.
- The overall market is seeing accelerated demand driven by a focus on simplification, lower-prices, and migration from audio-only conferences to web and video conferencing.
- Customers with multiple conferencing solutions are consolidating services. Users want a “single meeting—single license” experience. What used to be audio, video, and web conferences in the past have simply become online meetings.
- Growth in the future will come from rapid expansion into SMBs, which represents a white space in web conferencing.
“join.me has seen tremendous growth in the past year, due in part to a variety of product enhancements focused on making meetings simpler, faster and more productive,” said Craig Daniel, Vice President, Products, join.me. “The recognition as a ‘market disruptor’ by Frost & Sullivan is validation of these efforts and we look forward to introducing even more innovation this year that drives greater collaboration, productivity and performance among businesses of all shapes and sizes.”
About LogMeIn, Inc.
LogMeIn, Inc. (NASDAQ:LOGM) simplifies how people connect to each other and the world around them. With millions of users worldwide, our cloud-based solutions make it possible for people and companies to connect and engage with their workplace, colleagues, customers and products anywhere, anytime. LogMeIn is headquartered in Boston with offices in Bangalore, Budapest, Dublin, London, San Francisco and Sydney.
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