Global Market Leadership Award: ON24 Hits a Grand Slam Frost & Sullivan Recognizes ON24 for Innovation and Market Performance in Web Event Services for the Fourth Time
SAN FRANCISCO, July 29, 2014 /PRNewswire/ -- ON24, the global leader in webinars and virtual communication solutions, today announced that it has received a 2014 Global Market Leadership Award from Frost & Sullivan in the category of web events. "ON24 continued its reign as the perennial market share leader in the global webcasting and virtual events market with a dominant 27.8 percent share of revenues in 2013," according to the Frost & Sullivan report. ON24 also received a Global Market Leadership Award in 2009, 2010 and 2012.
ON24's disciplined growth strategy and responsiveness to a changing technology landscape and evolving customer demands, as well as its extensive and versatile portfolio, were cited as key criteria in the award selection process. "ON24's market share leadership position demonstrates that it is very much in tune with what customers want," said Roopam Jain, industry director, Unified Communications and Collaboration, Frost & Sullivan. "With its ongoing enhancements to Platform 10, ON24 delivers the features that users demand, like social networking tools, as well as the self-service features that businesses need."
To determine the market leadership award winner, 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 2013 was marked by continued strong demand for media-rich, interactive web events. They also noted that growth and revenue opportunities for providers are keeping pace with rapid technological change and users' increasing awareness of web events.
Frost & Sullivan's independent analysis predicts that the web event services market will grow at a solid annual rate through 2018, spurred by technological innovation and customer demand. Frost & Sullivan's award research also highlighted key performance drivers and advantages for ON24 in the marketplace, including:
- A disciplined growth strategy — ON24 has migrated its webcasting, virtual environment and virtual event tools to Platform 10, a flexible, open architecture that can deliver social networking, enhanced collaboration, enterprise communications and training.
- Addressing customer demand for ease of use — ON24 has focused on satisfying the growing need for self-service web events. In 2012, the company introduced Webcast Elite specifically to meet this need. Numerous enhancements to Webcast Elite in 2013 have increased performance and flexibility, without increasing complexity.
- A versatile and extensible portfolio — In the highly competitive web events market, providers often pursue opportunities that they can't effectively address. In contrast, ON24 offers a full range of professional and managed services, for all types of events. In essence, ON24 offers a "one-stop shop" for all event-related solutions and services.
Frost & Sullivan explains that ON24 has once again earned the Global Market Leadership Award because it stands out in a crowded and competitive market by listening to the needs of the enterprise customer, delivering mobile, social and self-service features, integration with existing marketing technology and anytime, anywhere access to robust web events. With this approach, ON24 meets changing user demands while still serving as a single-source provider, according to Frost & Sullivan's report.
The report concludes, "While other competitors may ask customers to compromise, ON24 brings to bear a full set of technology, services and partner assets to deliver exactly what customers need and want." Commented ON24 CEO Sharat Sharan, "We are gratified that Frost & Sullivan, recognizing that ON24 continues to change the game while our competitors follow, has honored us again this year. ON24 is indeed a one-stop shop — from our patented and market-leading webinar platform to our full suite of self- and full-service products, we provide it all, across a global customer base."
About ON24, Inc.
ON24 is the global leader in cloud-based solutions for webcasting and virtual communications. ON24 offers a broad and innovative product portfolio accessible from any device and supported by industry-leading reporting and analytics. More than 1,000 organizations, including IBM, CA Technologies, Merck, JPMorgan Chase, Deloitte, Credit Suisse, Rosetta Stone, Ernst & Young and SAP, rely on ON24. Applications for the ON24 platform include demand generation, customer engagement, talent development and town hall meetings. The company is headquartered in San Francisco, with offices throughout the world. For more information, visit http://www.on24.com.