An important capability of web conferencing software is application sharing, the ability for one party in the conference to share an application (such as a web browser, spread sheet, etc.) from their desk top with everyone else in the meeting and pass the control of the application to someone else in the meeting.
The largest market share is held by webex.com, a Cisco company, and Microsoft office Live meeting.
Other major players are Adobe Connect, and Saba Centra.
The above conferencing suits are good in different aspects of conferencing, but they lack the content management capabilities of modern CMS, they don't have high level LMS capabilities (except Saba Centra, which is very expansive). If we take webex as example, the amount of manual work required to accomplish common LMS tasks is so large, that it makes it impractical solution. For example, in the way Webex is built, taking a school time table and converting all classes to online meeting with students and professors as participants is simply impossible. You have to manually create every meeting and manually invite all the users.
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