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Enterprise Collaboration Market worth 49.51 Billion USD by 2021
The report "Enterprise Collaboration Market by Component, Solution (File Sharing & Synchronization, Portals & Intranet Platform, Unified Messaging, Enterprise Video, Enterprise Social Network), Service, User Type, Vertical, and Region - Global Forecast to 2021", The enterprise collaboration market is estimated to grow from USD 26.68 Billion in 2016 to USD 49.51 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 13.2%.
Browse 100 market data tables and 58 figures spread through 172 pages and in-depth TOC on “Enterprise Collaboration Market by Component, Solution (File Sharing & Synchronization, Portals & Intranet Platform, Unified Messaging, Enterprise Video, Enterprise Social Network), Service, User Type, Vertical, and Region - Global Forecast to 2021”
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The major forces driving this market include widespread usage of social networking websites, increased usage of mobile devices, and the growing need for improved enterprise efficiencies. The enterprise collaboration solutions and services are used across diverse industrial verticals, such as Banking, Financial Services, and Insurance (BFSI); public sector; healthcare; energy & utilities; retail; IT & telecom; travel & hospitality; transportation & logistics; education; and other industries, such as life sciences and communications & media.
Enterprise social network is estimated to hold the largest market size in the enterprise collaboration solution market in 2016
Enterprise Social Networks (ESNs) are gaining traction among enterprise collaboration solutions as these solutions enable users, both internal and external to an organization, to leverage on social workflow capabilities. The social workflows provided by ESN can be integrated with other applications used in organizations or can be used independently, to improve the employee productivity.
Cloud deployment type is expected to be the largest contributor to the enterprise collaboration market during the forecast period
The cloud deployment model is fast becoming an attractive option for the delivery of enterprise collaboration solution, as it enables organizations to decrease the cost associated with IT infrastructure and its maintenance. Furthermore, cloud deployment is a major business driver for the enterprise collaboration market, as it empowers organizations to increase their businesses by offering enterprise collaboration solutions to distributed enterprises spread across the world.
The North American region is expected to contribute to the maximum market share to the overall enterprise collaboration market
The high adoption of cloud technology in North America, particularly in the U.S. and Canada, is the major reason for the continuous adoption of enterprise collaboration solutions and services by the end-users. Furthermore, the market is in the emerging stage in the regions of Asia-Pacific (APAC), Latin America, and Middle East & Africa (MEA), owing to the increased focus on digital workplace transformation initiatives and increase in IT investment.
The major vendors in the enterprise collaboration market include Facebook, Inc. (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Atlassian Corporation PLC (U.S.), Igloo, Inc. (Canada), Slack Technologies, Inc. (U.S.), VMware, Inc. (U.S.), Jive Software, Inc. (U.S.), Salesforce.com, Inc. (U.S.), and Ninian Solutions Limited (U.K.).
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