Deal Desk Senior Analyst, Zoom

Its success bred competition, however, and companies such as Microsoft and Google, along with numerous smaller communications firms, have begun making inroads on Zoom's formerly commanding lead. Additionally, as workplaces are mostly adopting a hybrid or flexible working strategy, some of its importance as a workplace tool is wearing off and it is recording a gradual decline in daily usage rates.

To counter these trends, Zoom is expanding its business offerings through product development and strategic acquisitions. Alongside many other large tech companies, it has battled through a difficult economic situation, but it nonetheless remains a profitable company and household name. Plus, its track record of innovation means it is still very much one to watch in the communications space.