The enterprise collaboration market revenue to reach $53.83 billion by 2023
BANGALORE, India, July 2018: Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Enterprise Collaboration Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023” (July 2018).
According to Infoholic Research, the enterprise collaboration software is expected to serve many organizations across verticals to maximize the engagement of employees with better communication and better file sharing, leading to streamlined and structured project execution. The increased adoption of cloud services has encouraged organizations, especially SMEs, to opt for SaaS offerings. The cloud deployment mode has assisted many organizations in reducing the infrastructure costs and adopting a subscription model through cloud rather than licensing of products. However, the high cost of software and data security concerns are restricting the growth of the enterprise collaboration market.
The global enterprise collaboration market is estimated to grow at a CAGR of 11.15% during the forecast period 2018–2023.
The wide adoption of mobility, IoT, and AI gave rise to IT infrastructure and workplace modernization for organizations. The enterprise social network segment is expected to grow with increasing number of companies focusing on the social platform as a medium to connect with the employees for sharing various information, news, updates, and events. The project and calendar management software is expected to grow among large enterprises where multiple projects and employees are managed. The messaging, audio, and video software is expected to hold the significant market share during the forecast period due to increasing adoption of basic communication and connecting tools for employees among enterprises.
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The software type includes file sharing, messaging, audio and video, enterprise social network, intranet and portal, and project and calendar management. The cloud-based deployment is expected to rise with more distributed implementation and support the remote and field workers. North America holds the dominant share in the enterprise collaboration market with a focus to integrate the workforce communication and enhance the engaged work environment. However, Asia Pacific holds a huge potential for the vendors with a presence in developing economies such as China and India. The huge market and a rapidly growing digital transformation of organizations in the region hold tremendous opportunities for the vendors.
The deployment modes include on-premises and cloud. The cloud deployment encourages many organizations to opt for services without incurring costs on hardware and infrastructure. SMEs can adopt SaaS enterprise collaboration software, which is available on a subscription basis, scalable and flexible according to the requirement for certain number of employees.
The regions covered in the report are North America, Europe, Asia Pacific, Middle East Africa, and Latin America. The countries covered are the US, Canada, Germany, the UK, France, Italy, Spain, China, India, Australia, Japan, Singapore, South Africa (RSA), Kingdom of Saudi Arabia (KSA), Brazil, and Mexico. The developing economies, such as China and India, possess huge potential with increasing focus on workplace transformation and digital technologies along with the growth in manufacturing and energy & utilities sectors.
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“The enterprise collaboration market is expected to witness substantial growth with increasing number of organizations looking to strengthen their internal communications, reducing the time slacks and enhancing the productivity of the organization. The software vendors are planning to innovate collaboration tools that help in the project management, maintaining file versions, work assigning, and other features.” – Swarup Bhowal, Research Analyst at Infoholic Research
The report covers the present scenario and the growth prospects of the enterprise collaboration market during the forecast period 2018–2023.
The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report gives details about the enterprise collaboration market.
- The market is analyzed based on software and services, deployment mode, organization size, industry verticals, and regions.
- The services segment include implementation and integration, support and maintenance, and consulting.
- The deployment mode segment includes cloud and on-premises.
- The organization size includes large enterprises and SMEs.
- The industry verticals segment includes BFSI, manufacturing, telecom and IT, government, healthcare and life sciences, consumer goods and retail, energy and utilities, and others.
- The report covers the implementation of enterprise collaboration software in North America, Europe, Asia Pacific, Middle East Africa, and Latin America.
- The report covers the evolution of enterprise collaboration software, its features, advantages, and importance.
- The report also covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2018–2023).
- It also contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views.
- The report covers competitive landscape, which includes mergers & acquisitions, joint ventures & collaborations, and competitor comparison analysis.