According to the latest report by Market Research Future (MRFR), the global market for enterprise collaboration is estimated to reach a noteworthy valuation of USD 69.93 Billion by 2024, growing at a steady 15.23% CAGR during the forecast period (2018–2024).
The market is majorly driven by the rising adoption of enterprise collaboration tools for proficient collaboration with remotely located employees inside an enterprise. growing adoption enterprise collaboration among the IT & telecommunication, BFSI, and healthcare industries is also expected to encourage market growth over the review period. Furthermore, the rising adoption of enterprise collaboration tools for cost reduction improved employee engagement, efficient project management, content management, knowledge management, and boost productivity also drive the global market growth over the forecast period.
According to MRFR, the enterprise collaboration market has been segmented based on component, type, deployment, organization size, vertical, and region.
Based on the component, the enterprise collaboration market has been segmented into services and solutions. By type, the market for enterprise collaboration has been segmented into synchronous and asynchronous. On the basis of the organization size, the global market has been segmented into large enterprises and small and medium enterprise (SMEs). By deployment, the enterprise collaboration market has been segmented into on-premise and cloud. Based on the vertical, the global enterprise collaboration market has been segmented into IT & telecommunications, BFSI, retail, travel & hospitality, healthcare, government, transportation & logistics, education, energy & utilities, and others.
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, Mitel Networks Corporation, Jive Software, Salesforce.com, Inc., SAP SE, TIBCO Software Inc., Slack Technologies, VMware, Inc. (Dell Technologies)
The regional analysis of enterprise collaboration market has been studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America holds the largest market share and is expected to retain its dominant value over the review period. This growth is owing to the increasing adoption of enterprise collaboration software among enterprises in this region for its factors such as enhanced employee engagement and workforce collaboration. Among the North American countries, the developed nations such as the US accounts for the major contributor towards the market, owing to rising adoption of collaboration tools in large enterprises as well as SMEs, especially in the IT & telecommunication industry vertical. These major factors are expected to drive market growth over the review period.
Europe accounted for the second-largest market share and is expected to maintain its substantial valuation over the review period due to rising adoption of enterprise collaboration solutions in countries such as the UK, France, Germany, Italy, Spain, and Sweden. Europe accounts for a major market share in this market owing to the established industries in this region, such as IT and telecommunications, BFSI, among others that have risen the demand and adoption of enterprise collaboration tools. This influential factor is expected to contribute to the market share over the forecast period.
Asia-Pacific region accounts for the third-largest market share and is expected to expand at the utmost growth rate over the forecast period, owing to the adoption of enterprise collaboration solutions in China, India, Japan, Australia, South Korea, Singapore, and other Asian countries. The changing economic dynamics in these developing nations is expected to attract foreign investments in various industry verticals and increase the adoption of enterprise collaboration tools over the assessment period. Moreover, the presence of market players and foreign investments is expected to create a vast scope of growth opportunities over the review period.
LIST OF TABLES
Table1 Global Enterprise Collaboration Market: By, Country, 2019–2024
Table2 North America: Enterprise Collaboration Market By, Country, 2019–2024
Table3 Europe: Enterprise Collaboration Market: By, Country, 2019–2024
Table4 Asia-Pacific: Enterprise Collaboration Market: By, Country, 2019–2024
Table5 Middle East & Africa: Enterprise Collaboration Market: By, Country, 2019–2024
LIST OF FIGURES
FIGURE 1 Global Enterprise Collaboration Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Enterprise Collaboration Market
FIGURE 4 Value Chain Of Global Enterprise Collaboration Market
FIGURE 5 Share Of The Enterprise Collaboration Market In 2018 By, Country (In %)
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