MSFT - Zoom Microsoft and Slack Just Ramped Up the Battle for Virtual Meeting Supremacy
Since the onset of the pandemic, the adoption of remote communication tools has skyrocketed. Yet even before COVID-19 reared its ugly head, the video conferencing market was gaining steam. It's now expected to climb to $50 billion by 2026, according to a recent report by Global Market Insights.
Three of the biggest players in the virtual meeting space, Zoom Video Communications (NASDAQ: ZM), Slack Technologies (NYSE: WORK), and Microsoft (NASDAQ: MSFT) Teams, all had big product announcements this week. The timing of these updates indicates the intensity of the competition between these leading virtual meeting providers.
Image source: Zoom Video Communications.