Enterprise Collaboration Market is expected to reach USD 96 billion by 2027, growing at a CAGR of 12.8% over the forecast period (2020-2027).
The factors driving the growth of Enterprise Collaboration Market includes emerging trend of Bring Your Own Device (BYOD) and remote working, rise in the volumes of data generated around the world, growing awareness amongst end-users about the benefits of enterprise collaboration solutions and increasing popularity of eLearning platforms. Moreover, integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) with enterprise collaboration solutions, strategic mergers and acquisitions between key industry players and rise in the launch of innovative products, are some of the additional factors supplementing the Global Enterprise Collaboration Market. In addition, the increasing investments by major companies on research and development, rise in the number of social networking websites, rapid urbanization, increasing disposable incomes and growing population growth rates, are further contributing to the market growth.
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However, growth of the Enterprise Collaboration Market is hindered due to poor internet connectivity and infrastructure issues.
The major players operating in the Enterprise Collaboration Market are Adobe, Facebook, Igloo Software, IBM Corporation, Microsoft, VMware, Inc., PagerDuty Inc., Atlassian, Cisco Systems, Inc., and Google LLC, among others.
Based on End-Use Industry, the Banking, Finance, and Insurance segment is predicted to expand at a remarkable CAGR during the forecast period
Increasing investments by financial organizations on intranet platforms and unified communication technologies, is pushing Enterprise Collaboration Market size.
Based on Organization Size, Large Enterprises segment is projected to capture the largest market share over the forecast period
Enterprise Collaboration solutions helps the large organizations to monitor business procedures and communicate information using single platform, are propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Advancements in digital infrastructure, rise in the number of eLearning and distance education platforms across India, China and Vietnam, emerging trend of remote working, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
- In 2020, PagerDuty Inc., launched new automation and intelligence capabilities in its Dynamic Service Directory, Business Response, and Intelligent Triage solutions, to reduce manual work, eliminate outages, and enhance remote collaborations.
- In 2019, Cisco Systems, Inc., launched Webex Control Hub Extended Security Pack to empower Webex users with robust data security enhancements.
- In 2019, Microsoft introduced OneDrive Personal Vault, a new layer of security for the OneDrive personal account to protect most sensitive and vital files of the user. The organization has surged the OneDrive standalone storage plan from 50 GB to 100 GB at no additional charge.
Market Segmentation
Segmentation by Deployment
- Cloud
- On-Premise
Segmentation by End-Use Industry
- IT and Telecom
- Banking, Finance, and Insurance
- Retail
- Education
- Healthcare
- Manufacturing
- Others
Segmentation by Organization Size
- Small and Medium Enterprises
- Large Enterprises
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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