Intense Competition from Rivals: Zoom faces aggressive competition from well-established technology companies such as Microsoft (Teams), Google (Meet), and Cisco (Webex), which can limit its market share, pricing power, and growth opportunities as these rivals often bundle communication tools with broader enterprise software suites.

Cybersecurity and Privacy Concerns: Ongoing threats of data breaches, privacy incidents, or service disruptions from malicious actors could damage Zoom's brand reputation, erode user trust, lead to regulatory penalties, and increase operational costs for security enhancements.

Post-Pandemic Demand Normalization: The significant surge in demand experienced during the COVID-19 pandemic has normalized, leading to slower user growth and potentially lower revenue growth as remote work trends stabilize and some organizations shift back to in-person interactions.