Enterprise Collaboration Market 2021 Industry Outlook, Current Status, Supply-Demand, Growth Opportunities and Top Players Analysis 2030

In a recent published report, Kenneth Research has updated the market report for Enterprise Collaboration Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Enterprise Collaboration Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

Market synopsis

The global market for enterprise collaboration is estimated to reach USD 69.93 Billion by 2024, growing at a 15.23% CAGR during the forecast period 2018–2024. 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

The Final Report will cover the impact analysis of COVID-19 on this industry:.

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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.  

Segmentation

According to Market Research Future, the enterprise collaboration market has been segmented on the basis of component, type, organization size, deployment, vertical, and region.By component, the market has been segmented into, solutions and services.By type, the market has been segmented into asynchronous and synchronous

By organization size, the market has been segmented into large enterprises and SMEs.By deployment, the market has been segmented into cloud and on-premise.By vertical, the market has been segmented into BFSI, IT & telecommunications, retail, healthcare, travel & hospitality, transportation & logistics, government, energy & utilities, education, and others.

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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.

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.

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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.          

Intended Audience

Enterprise collaboration software vendors

Enterprise collaboration service providers

Managed service providers

System Integrators

Enterprise collaboration system investors

Government enterprises

Technology consultants and advisory firms

Value added resellers

Collaboration tools developers

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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