Publishing: November 2021 | Report Code: IM11881 | Available Format: PDF
Enterprise Collaboration Market Overview
The global enterprise collaboration market is currently facing a surge in technology and is expected to grow at a substantial rate during the forecast period (2020–2030). This is majorly due to the increasing demand for improved execution of external and internal communications within a company. Enterprise collaboration solutions are platforms or tools that allow organizations to share resources and information more efficiently. This may vary from simple communication tool (e.g., emails) to more intricate management systems. Enterprise collaboration enables higher productivity among department and workers, increases engagement level, and makes employees better informed and knowledgeable about business operations and other related tasks. Such factors further boost the growth of the market.
The enterprise collaboration market on the basis of type is bifurcated into internal and external. Between the two, the external collaboration category is projected to attain faster growth during the forecast period. This type of collaboration allows organizations to be more competitive and operate things more efficiently and faster. Furthermore, external collaborations enable organizations to build relationships with their clients, upsurge revenue, reduce product development and marketing costs, and enhance customer service. Such factors fuel the growth of the category during the forecast period.
The enterprise collaboration market in terms of deployment type is categorized into cloud-based and on-premise. Between these, the cloud-based category is estimated to grow at a faster rate between 2020 and 2030. Enterprises are confronted to address improved efficiency demands while combining costs related with several communication and collaboration tools, so that they can get more out of their workforce and budgets. Therefore, the market players are delivering cloud-based platforms, which covers more features and functionality, avoiding the need for organizations to integrate, implement, and manage several standalone systems. Such advantages of the cloud-based deployment over on-premises are expected to boost the market growth during the forecast period.
Geographically, North America is projected to hold significant share in the enterprise collaboration market in 2030. This is majorly due to the presence of leading market players, such as Facebook Inc., Microsoft Corporation, Google LLC, and Slack Technologies Inc. These organizations are providing technologically advanced solutions and products to small- and large- scale companies in order to boost their productivity by facilitating enhanced internal and external communications. Such factors would further augment regional market growth in coming years.
Enterprise Collaboration Market Dynamics
Growing usage of mobile devices to operate numerous social networking platforms boosts the enterprise collaboration market growth. It is observed that comparatively quite few people access social networking sites via computers, while most of the people use smartphones to access these websites.
For instance, in 2019, more than 70% of the users in the U.S. accessed their smartphones to respond to emails or operate social networking platforms. Furthermore, emerging economies, such as China and India, are also experiencing similar trend, owing to increasing usage of smartphones due to its easy accessibility. In enterprise collaboration, these mobile- and social first-tools enable employees to collaborate with each other from remote locations at any given point of time. These advantages are propelling the growth of the enterprise collaboration market.
Also, enterprise collaboration offers numerous benefits to businesses, such as enhanced productivity, cost reduction, better cooperation between employees, improved data sharing, real-time access to business information, remote work culture, and better employee and customer engagement. Owing to such benefits, the enterprise collaboration market will experience significant growth in coming years.
Data privacy concern is one of the major challenges for the growth of the enterprise collaboration market. While many enterprises focus on preventing malicious data hacking and theft, data breaches are most commonly caused due to lack of data security or accidental mishandling. Furthermore, as enterprises step toward more collaborative environment, the exchange of data increases, both within the company and with external enterprises. With the increasing data exchange among enterprises and employees, there is an increasing need to address the challenges faced to safeguard shared data during collaboration activities. Such challenges are hampering the market growth at certain level.
Global Enterprise Collaboration Market Competitive Landscape
Some of the major players operating in the global enterprise collaboration market are International Business Machines (IBM) Corporation, Google LLC, Atlassian Corporation Plc, Cisco Systems Inc., Microsoft Corporation, Adobe Inc., Facebook Inc., IGLOO Inc., Jive Software Inc., SAP SE, Huawei Technologies Co. Ltd., and Mitel Networks Corporation.
The report covers country-wise enterprise collaboration market analysis. Some of the major countries covered in the report are the U.S., Canada, Germany, the U.K., France, Spain, Italy, China, Japan, South Korea, Australia, India, Brazil, Mexico, Saudi Arabia, the U.A.E., and South Africa.
Enterprise Collaboration Market Size Breakdown by Segment
The Enterprise Collaboration market report offer comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Deployment Type
Based on Component
Based on Enterprise
Based on Industry
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