Zoom Video Conferencing Company has hit the ears and eyes of many people in the last few years. All over a sudden, the company became a must-use product across the world. The outbreak of COVID-19 has been linked to the sudden growth of the company. However, some analysts believe that the growth was not accidental. The company was still doing well pre-COVID-19. Thus, the company has gained interest in the academic world. It has been used as a case study by many universities to help students learn business tactics used. However, many students are having trouble getting relevant information over the internet. Thus, they need a qualified Zoom Company analysis assignment help expert.
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Zoom Company Analysis – Overview
According to Zoominfo data, the adoption rate of web conferencing tools has increased by 84.8 percent from January to April since the beginning of 2020. The majority of the growth is attributed to a single company, Zoom Video. In just two months, its adoption rate increased by 418 percent. ZOOM and its meteoric rise
According to Zoominfo data, the adoption rate of web conferencing tools has increased by 84.8 percent from January to April since the beginning of 2020. The majority of the growth is attributed to a single company, Zoom Video. In just two months, its adoption rate increased by 418 percent—market trends in video conferencing.
Demand for Videoconferencing
Video communications are in high demand in today’s business world. According to the analysis, like video and web conferencing platforms gain popularity, the global video conferencing market will reach $6.4 billion by 2020. In addition, the video conferencing software market is expected to grow to $20 billion by 2024.
We’ve seen a surge in the use of video conferencing by most businesses, particularly in the last three months, due to the COVID-19 pandemic and work-from-home policies. According to App Annie, demand for Google Hangouts Meet, ZOOM, and Microsoft Teams increased during the week of March 15–21. They downloaded the apps 19 times more than the 2019 weekly average. SWOT Analysis of Zoom
Zoom Company SWOT Analysis- Zoom Company Analysis Assignment Help
SWOT analysis is a tool that users can use to understand a company’s strategic position better. It offers both an internal and external perspective on a company’s operations. Unlike other tools such as Porter’s Five Forces, SWOT analysis does not focus solely on external factors. As a result, it provides a comprehensive view of a company’s operations.
A SWOT analysis examines four aspects of a company’s operations. These are the following: Strengths, Weaknesses, Opportunities, and Threats. Both strengths and weaknesses are internal factors that influence a company’s operations. Opportunities and threats, on the other hand, are external factors. Users can gain a better understanding of a company by analyzing all of these factors.
Zoom is a company that works in the technology sector. As a result, the majority of these factors will be related to that industry. Nonetheless, the complete SWOT Analysis for Zoom is provided below.
As previously stated, strengths are internal factors that influence a company’s operations. These are activities or areas in which a company excels. Similarly, these are areas where a company excels, but its competitors do not. The following are the most noticeable strengths in Zoom’s SWOT analysis.
Simple to Use
One of Zoom’s main selling points was its ability to connect a group of people quickly. To register for the Zoom app, you do not need to go through many complicated steps. As a result, it became the first choice for the majority of people all over the world. It even allows people to join meetings without creating an account, making things easier for users.
Zoom’s features were already available on the market from some of its competitors. On the other hand, Zoom was able to take the product and niche it, allowing it to cater to a specific audience. In addition, apps such as Skype and Hangouts have already enabled video and voice calls. On the other hand, Zoom was able to identify its flaws and address them to improve its product.
As previously stated, Zoom was able to improve on existing technologies to increase its demand. Furthermore, it introduced other unique features, making a choice clear for customers looking for collaboration and meeting tools. Finally, it improved its usability by introducing new features such as customizable screen sharing and whiteboard capabilities.
They developed many apps during the COVID-19 pandemic to facilitate easy collaboration among participants. None of those apps, however, came close to matching Zoom’s popularity. It was primarily due to Zoom’s well-known brand name. Zoom’s brand name has enabled the company to increase its user base significantly.
Weaknesses, like strengths, are internal factors. These, on the other hand, are opposed. All activities that allow a company’s competitors to gain a competitive advantage are considered weaknesses. These are the activities that a company cannot master. The top weaknesses in Zoom’s SWOT analysis are as follows.
Zoom does offer users the option of using end-to-end encryption. However, some experts believe that the system does not function properly. Other competitors have taken advantage of this opportunity to launch better products that address these issues. As a result, zoom may not be the first choice for users concerned about these issues.
Zoom does an excellent job of introducing new and distinctive features. However, it cannot polish those features to provide the best user experience. Zoom Rooms, for example, allows users to create rooms for specific topics. However, it lacks the necessary management tools to allow moderators to control them.
Problems with Security
Some experts believe Zoom’s use of Chinese servers may also indicate security concerns. Because China is notorious for spying on its citizens’ data, this may be concerning for app users. Zoom’s lack of adequate security features has allowed some competitors to outperform the app in this area. Similarly, some customers have shifted to alternatives for the same reason.
External factors that can significantly improve a company’s operations in the future are examples of opportunities. On the other hand, options usually apply to all market or industry participants rather than a single company. As a result, only companies that act first and take advantage of them can benefit from them. The following are the top opportunities identified in Zoom’s SWOT analysis.
The COVID-19 pandemic was one of the factors that contributed to Zoom’s increased popularity. Most people were forced to work or study from home due to the pandemic. The pandemic increased demand for apps such as Zoom, which enable meeting and collaboration solutions. Zoom has the opportunity to capitalize on this increased demand and grow its user base even further.
As previously stated, one of the reasons for Zoom’s success was its innovative solutions. However, in the world of technology, these breakthroughs have a limited shelf life. To remain successful, Zoom must constantly improve its product and introduce new solutions. In addition, it provides the company with an opportunity to increase its user base significantly. It has previous experience in this field.
Zoom currently has a limited product offering. It only offers solutions for online collaboration and meetings. While this product is already profitable for the company, Zoom has the opportunity to diversify even further. To increase its profitability, it could, for example, create a small social media platform or chat app for its specific users.
Threats are also examples of external factors. Unlike opportunities, however, these represent negative prospects for businesses. Therefore, threats are something that companies must always be aware of because they can cause significant damage in the future. Some of Zoom’s threats are listed below in its SWOT analysis.
Competition is one of the most severe threats that Zoom is currently facing. Zoom faces a lot of competition because of its simple business model. Big names like Microsoft and Google, which have both introduced similar products, are among their competitors. If the competition threat materializes, it has the potential to reduce Zoom’s profitability in the future significantly.
As previously stated, the COVID-19 pandemic was a significant factor in Zoom’s meteoric rise to success. Zoom had been in operation since 2011. During the pandemic, however, it became significantly more relevant. Zoom faces the risk of losing customers once things settle down.
The threat of substitutes is another one that Zoom must deal with. While Zoom is a niche product, it is still up against apps like Skype and Discord. Even though neither of these apps provides dedicated meeting and collaboration tools, they both pose a threat to Zoom’s product. Aside from that, these apps offer some extra features that Zoom does not. It also makes switching more manageable for users.
Zoom is an online video communication app that simplifies digital collaboration and meetings. Zoom rose to prominence during the COVID-19 pandemic when it saw an influx of users from all over the world. Eric Yuan founded the company in 2011. Zoom’s SWOT analysis above, which identifies its strengths, weaknesses, opportunities, and threats.
Other Zoom Company Analysis subtopics Include:
- Zoom PESTEL Analysis Assignment Help
- Zoom Performance Matrix Assignment Help
- Zoom Porter’s Five Forces Assignment Help
- Zoom PEST Analysis Assignment Help
- Zoom Business Model Analysis Assignment Help