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ON24 Receives Global Market Share Leadership AwardFrost & Sullivan Honors Webcasting and Virtual Events Leader for Innovation and Market Performance in Web Event Services (October 30, 2012)
SAN FRANCISCO, CA -- (Marketwire) -- 10/30/12 -- ON24, Inc., the global leader in webcasting and virtual event solutions, today announced that it has received a 2012 Global Market Share Leadership Award from Frost & Sullivan in the category of web event services. The award was given to ON24 for its demonstrated excellence in capturing the highest market share within the web events industry -- at 29% market share, according to Frost & Sullivan, ON24 is the world's largest webcasting provider.
ON24's focus on delivering customer value and the company's superior innovation and go-to-market strategy were also cited as key criteria in the award selection process. "In an intensely competitive and fast-moving market, ON24 has maintained its market share leadership by offering high-value solutions to meet the needs of the enterprise customer," said Roopam Jain, Industry Director, Unified Communications and Collaboration, Frost & Sullivan. "New solutions such as its self-service events and social media webcasting have allowed the company to expand its extensive portfolio by providing a one-stop shop for customers."
This is ON24's third honor from Frost & Sullivan, having received an Excellence in Best Practices Award for market share leadership in 2010 and the 2009 Global Virtual Events Market Leadership Award.
To determine market share award winners, Frost & Sullivan's team of 1,800 analysts and consultants benchmarked key performance drivers and conducted a thorough competitive analysis of the industry, noting that 2012 saw increased demand for web events and webcasts across the world. Frost & Sullivan's research supports the position that web events are going mainstream and cited 16.9 percent growth in 2011 for webinars and webcasting services.
Frost & Sullivan's independent analysis further predicts that the web event services market will grow at a rapid annual rate through 2016, due to the challenging economic climate that has forced businesses to evaluate alternative ways to communicate with large, global audiences without the high cost of in-person meetings and events.
Frost & Sullivan's award research also highlighted key performance drivers and advantages for ON24 in the marketplace, including:
- ON24 focuses on value to customers - While many competitors are positioning themselves within specific niche markets or services, ON24 recognizes the value of providing services through multiple channels in a variety of ways.
- ON24 is maintaining top line growth - By expanding into new geographic markets, penetrating deeper into companies and providing solutions to untapped segments of the market, including white-glove event services, self-service solutions, virtual events and social media webcasting solutions, ON24 revenues continue to grow.
- ON24 leads in mobile and social webcasting - As part of the steady stream of improvements to its open Platform 10 architecture, ON24's MOVE (Mobile Virtual Environments) supports optimized viewing of webcasts and online events on mobile devices and tablet computers. ON24 is ready to support a mobile user base that grew 300 percent in 2011 and is expected to double again in 2012.
Frost & Sullivan concludes that ON24 has earned the 2012 Global Market Share Leadership Award because the company has emerged as the true leader in the webcasting market. The award further recognizes that ON24 continues to evolve its product and service portfolio to meet the changing needs of today's customers and that ON24 has leveraged key strategic partnerships for success in the reseller channel.
"The entire ON24 team is thrilled with this award," commented Sharat Sharan, CEO of ON24. "We're gratified that Frost & Sullivan has recognized and validated our unique approach to establishing and cultivating the market for virtual and online events. This award -- combined with being number one in the marketplace -- illustrates that ON24's strategy is on target and that we are positioned well for future growth."
About ON24, Inc.
ON24, the virtual communications platform for the global enterprise, provides interactive, impactful cloud-based solutions that drive outstanding results. ON24 offers a broad and innovative product portfolio, including webcasting, virtual events and virtual environments, accessible from any device and supported by robust reporting and analytics. Applications for the ON24 platform include demand generation, partner enablement, training, product launches, company town hall meetings and user conferences. More than 700 organizations, including IBM, CA Technologies, Merck, Unilever, JPMorgan Chase, Deloitte, Credit Suisse, Ernst & Young, Amazon and New York Life, rely on ON24. The company is headquartered in San Francisco, with offices throughout the world. For more information, visit http://www.ON24.com.
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