Even though Zoom Video Communications (Zoom) managed to increase its revenue to over one billion US dollars for the first time, it's still in a tough spot compared to the collaboration software segments of other big tech players. As our chart shows, Microsoft still dominates this specific market with almost one quarter of the total global revenue stemming from the use of its products, while Zoom only had about five percent market share in 2020.
However, these figures have to be taken with a grain of salt. While Zoom relies almost entirely on its video conferencing software, Microsoft has a broader spectrum of collaboration software for various uses, including the Exchange server system, Office 365 and other file sharing and sychronization solutions. This breadth could also be a valid reason for Google's market share of almost ten percent. For example, the company offers advanced versions of their free online tools like Drive and Mail under the moniker of Google Workspace for a monthly subscription cost. Voice over IP provider Cisco, messaging software Slack and remote work and troubleshooting software company LogMeIn round out the list of the five companies with the biggest market shares.
The collaboration software segment has been growing steadily over the last couple of years, which can partly be attributed to the coronavirus pandemic. 2020 alone saw a revenue increase of 12.3 percent worldwide to a total of approximately 12.6 billion US dollars, compared to a 7.9 percent increase in 2019.
