- Unified Communication
- File Sharing and Synchronization
- Portals and Intranet Platform
- Project Management and Analytics
- Enterprise Social Network
Enterprise Collaboration Market size was valued at USD 38.76 Billion in 2022 and expected to reach USD 71.76 Billion by 2029, at a CAGR of 9.2% 2023-2029. Companies have intensified their emphasis on internal communication over the past few years to improve their productivity with quicker contact between teams and employees. The increase in collaborative use of mobile devices and the rapid growth of social networking websites, coupled with the BYOD trend, are the major factors driving the growth of the market for enterprise collaboration. In addition, with the transition in the technology environment, small and medium-sized companies are increasingly embracing enterprise collaboration technologies, such as cloud-based applications. Security problems in data collaboration and the high cost of implementation, however, are key factors hampering market development. The steady expansion in the amount of data generated is expected to fuel additives the cloud-based deployment of workloads. Various end-user industries are dealing with huge amounts of data, and data centres are better suited for organisations that need to run a variety of apps and sophisticated workloads related to business collaboration. It also supports high productivity by providing access to real-time data through all application tools. The steady expansion in the amount of data generated is expected to fuel the cloud-based deployment of workloads.
Fastest Growing Market
The increasing use of mobile devices to run various social networking sites is boosting the growth of the business collaboration industry. It is found that very few people use computers to access social networking sites, while most people use Smartphone to access these websites. In 2019, for example, more than 70% of U.S. users accessed their smart phones in order to respond to emails or run social networking sites. In addition, due to its easy accessibility, emerging economies, such as China and India, are also experiencing a similar trend due to rising Smartphone use. These mobile and social first-tools enable employees to work with each other from remote locations at any given point of time in enterprise collaboration. These benefits are driving the growth of the market for enterprise collaboration.
The enterprise collaboration market size was valued at USD 38.76 billion in 2022
The enterprise collaboration market key players are: IBM Microsoft VMware Cisco Systems Google Adobe System Facebook Igloo Software Jive Software Slack Technologies
The enterprise collaboration market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.