After experiencing a slowdown in 2023, the cloud meetings and team collaboration space returned to moderate growth in 2024. Revenue in 2024 reached $15.39 billion, growing at 5.1% YoY. The market is forecasted to reach $21.62 billion by 2029 at a 5-year compound annual growth rate (CAGR) of 7%.

Meetings and messaging remain foundational elements of communication platforms and represent a robust opportunity. 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.

• How have meeting and messaging apps transformed into persistent collaboration environments that integrate conversations, data, third-party systems, and AI, enabling teams to make informed decisions and work more effectively?
  
• Which growth avenues are emerging for customer organizations and participants, including technology vendors, service providers, channel partners, resellers, and IT/telecom decision-makers?
  
• What steps should your team take to develop sustainable growth strategies that tap into the growing wave of meetings and chat adoption?