ID: MRFR/ICT/6546-HCR | February 2021 | Region: Global | 111 pages
The market for enterprise collaboration is estimated to reach USD 99.45 Billion by 2027, growing at a 13.20% CAGR during the forecast period 2020-2027. The market is strongly driven by the increasing adoption of enterprise collaboration tools for efficient collaboration with remotely located employees within an enterprise. Increasing adoption enterprise collaboration among the BFSI, IT & telecommunication, and healthcare industries also promote the market growth. Furthermore, rising adoption of enterprise collaboration tools for better employee engagement, cost reduction, efficient project management, knowledge management, content management, and boost productivity also drive the market growth globally.
Enterprise collaboration is a type of communication and information system including communication platforms, enterprise social networking platforms, and corporate intranet and public internet tools that are used by employees to collaborate and accomplish various tasks across different departments within an enterprise. Enterprise collaboration tools facilitate efficient communication between multiple offices in different locations, remote workers, and globally distributed workforces of an enterprise. Collaboration allows critical teams working on various projects to connect, engage, and operate together in real-time. Strong enterprise collaboration allows organizations to increase productivity, develop innovative products and solutions, and reduce time-to-market. Enterprise collaboration tools have been broadly classified into various categories: communication tools – providing asynchronous and synchronous communication such as video conferencing, instant messaging, and e-mail. Collaboration tools that help teams within an organization to organize project work with the help of file sharing tools, project planning and management tools, and event scheduling tools. Writing/editing tools that assist team members to collaboratively work on documents and publish them online. Engaging/networking sites and tools that facilitate social media, networking, and blogging within enterprises. Collaboration tools enable enterprises to build virtual teams across various geographic regions enabling them to work in synchronization. Video-conferencing tools are one of the most widely used collaboration tools among enterprises. One of the promising advantages of enterprise collaboration platform is that it aids in finding the right resource with the help of search tools in a large organization. These tools help employees to reach out to the right person with the right information to bring together the right data and the right people for efficient work sessions. Increasing number of mobile workers and globally distributed project teams are driving the demand for new and enhanced enterprise collaboration tools that permit sharing of large files among different departments within an enterprise. IT teams in various organizations are now focused on implementing collaboration platforms to easily work with employees, partners, and vendors.
However, procuring skilled expertise, interoperability among various applications, and security concerns are some roadblocks that may limit the market growth in the coming years.
Enterprise Collaboration Market Key Players:
MRFR recognizes the following key players in the global enterprise collaboration market: Adobe Inc., Cisco Systems, Inc., Atlassian Corporation Plc., Facebook, Inc., Google LLC, IBM Corporation, Microsoft Corporation, Igloo Software, Jive Software, Mitel Networks Corporation, Salesforce.com, Inc., SAP SE, Slack Technologies, TIBCO Software Inc., VMware, Inc. (Dell Technologies)
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
Global Enterprise Collaboration Market, 2018–2024 (USD Million)
Source: MRFR Website
Enterprise Collaboration Market Regional Analysis:
The global enterprise collaboration market is estimated to grow at a significant rate during the forecast period from 2018 to 2024. The geographical analysis of enterprise collaboration market has been done for North America (the US, Canada, Mexico), Europe (the UK, Germany, France, Spain, Italy, the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, the rest of Asia-Pacific) and the rest of the world (the Middle East and Africa and South America).
Currently, North America holds the largest market share due to the growing adoption of enterprise collaboration software among enterprises for better employee engagement and workforce collaboration. Among the North American countries, the US accounts for the largest market share due to rising implementation of collaboration tools within large enterprises as well as SMEs in the IT & telecommunication sector. Europe accounted for the second-largest market share due to rising adoption of enterprise collaboration solutions in countries such as the UK, Germany, France, Spain, Italy, and Sweden. Asia-Pacific region accounted for the third-largest market share and is expected to expand at the highest growth rate due to the adoption of enterprise collaboration solutions in China, Japan, India, Australia, Singapore, South Korea, and other Asian countries. South America and the Middle East & Africa region is expected to achieve substantial market growth with key players focused on investing in this region to offer enterprise collaboration services to small- and medium-sized enterprises.
|Market Size||USD 99.45 Billion (2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, By Type, By Organization Size|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Adobe Inc., Cisco Systems, Inc., Atlassian Corporation Plc., Facebook, Inc., Google LLC, IBM Corporation, Microsoft Corporation, Igloo Software, Jive Software, Mitel Networks Corporation, Salesforce.com, Inc., SAP SE, Slack Technologies, TIBCO Software Inc., VMware, Inc. (Dell Technologies)|
|Key Market Opportunities||Rising adoption of enterprise collaboration tools for better employee engagement, cost reduction, efficient project management, knowledge management, content management, and boost productivity also drive the market growth globally.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The growth rate of 13.20% can be achieved by the global market in the conjectured period.
The market size by 2024 can reach USD 99.45 Billion.
The listed players in the report are Igloo Software, Atlassian Corporation Plc., Google LLC, Adobe Inc., Slack Technologies, Facebook, Inc., Salesforce.com, Inc., IBM Corporation, SAP SE, Cisco Systems, Inc., Microsoft Corporation, VMware, TIBCO Software Inc., Inc. (Dell Technologies), Mitel Networks Corporation, Jive Software, and others.
The United States (U.S.) is currently leading the North American market.
The MEA market can achieve excellent growth in the coming years, with renowned companies investing heavily in a bid to offer enterprise collaboration services to SMEs in the region.