IT WAS KNOWN as the 'Zoom boom'When the Covid-19 pandemic shuttered the world and pushed people to increase their screen time, the video communication platform user base skyrocketed. In India, it saw 6700% growth in free user sign ups. But the law of gravity played out soon. As the pandemic waned, Zoom saw growth tapering to 3% in FY24 from 326% globally in FY21.
Things are, however, changing rapidly. Realising it needs to be more than just a video call service, Zoom is now focusing on becoming an end-to-end communications platform with an emphasis on artificial intelligence assistance.
"We have now evolved from being a video platform to being an end-to-end communication and collaboration platform," Ricky Kapur, head of Asia Pacific (APAC) region at Zoom, told FE in an interaction."The growth curve is going to get more exciting," Kapur added.
Analysts agree, stating that there's immense scope for the company's new offerings in emerging markets like India.
Kapur's confidence stems from the traction the platform has received for its AI companion product within six months of launch, as well as garnering 7-million consumers worldwide for its Zoom Phone offering. In fact, the company is eyeing huge business opportunity from India on the back of new products such as Zoom Phone, Zoom Contact Center and AI companion.
This story is from the March 23, 2024 edition of Financial Express Mumbai.
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This story is from the March 23, 2024 edition of Financial Express Mumbai.
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