At its recent Zoom Perspectives 2024 conference, the company detailed its future vision, strategy, and flagship offerings which is looking to keep it relevant in a post-pandemic – lockdowned – world.
“Zoom has been working to grow its number of customers and increase their spend,” says Gregg Willsky, principal analyst, Enterprise Technology and Services at GlobalData. “Total revenue has been climbing – and marquee products such as Zoom Contact Centre and AI Companion have earned many more accounts. International expansion is considered a major opportunity and Zoom plans to add local sales support in select markets. The ‘Zoom Up’ partner programme has been key to Zoom’s overall efforts with success in growing the pipeline and securing more lucrative deals.
“Zoom has been adding platform features at an accelerating rate and is on pace to deliver thousands more in 2024,” Willsky says. “If any one feature could be singled out it would be Zoom AI Companion which was launched in September 2023. Capabilities have been doled out across the Zoom platform (from Meetings, Team Chat, Phone, Email, Whiteboard, Events, Contact Centre, and Revenue Accelerator). Market traction has been impressive with more than 675 000 accounts enabling the feature ranging from sole practitioners to enterprises with over 100 000 users.
“Although the Zoom platform offers an extensive array of features, users can extend the available functionality by tapping Zoom’s robust developer ecosystem,” he adds. “The vision for the ecosystem has three parts: enabling all users to develop by providing no-code, low-code, and full-code tools; augmenting the platform for specific use cases; and fashioning the Zoom platform into a hub that can engage systems and other platforms via the use of apps and integrations.
“Zoom has bold ambitions for the company’s place in the competitive hierarchy,” Willsky says. “Efforts it has made thus far to enlarge the customer base and raise revenue, introduce a steady stream of enhancements, and allow users to customise the platform to better fit their needs will continue to be necessary to compete against formidable rivals such as Microsoft, Cisco, and Google.”