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New Product Launches and Partnerships/Collaborations to Expand their Product Portfolio and Strengthen their Market Position in the Enterprise Collaboration Market
The enterprise collaboration facilitates individuals, teams, workgroups, and organizations to interact, share, and work together irrespective of their locations, in order to achieve a common goal. An enterprise collaboration system empowers organizations to manage, share, and collaborate content efficiently through various mediums, such as emails, unified messaging, social media, web & video conferencing, and document sharing & project management platforms. The enterprise collaboration helps organizations in value creation through effective communication and teamwork, leveraging combined capabilities of people, technology, and business processes. The global enterprise collaboration market is projected to be USD 49.51 Billion by 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.2% during the forecast period
The enterprise collaboration market includes a large number of vendors, such as Facebook, Inc. (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Jive Software, Inc. (U.S.), Atlassian Corporation PLC (Australia), Salesforce.com, Inc. (U.S.), VMware, Inc. (U.S.), Ninian Solutions Ltd. (U.K.), Slack Technologies, Inc. (U.S.), and Igloo, Inc. (Canada). Players in this market have embraced different strategies to extend their worldwide presence and increase their market share. New product launches & upgradation, partnerships/collaborations, and agreements are some of the strategies adopted by the market players to enhance their product and service offerings and expand their customer base.
Companies such as Microsoft, IBM, Facebook, Jive, Slack, Ninian Solutions Ltd., Atlassian, VMware have adopted the strategy of new product launches and partnerships/collaborations to expand their product portfolio and strengthen their market position in the enterprise collaboration market. Microsoft is one of the leading providers in this market. The company caters to a wide clientele base as well as organizations operating in technology, telecom, and other sectors through its innovative products and solutions. The company’s long-term strategy is focused towards new product launches to expand its product portfolio and serve a large customer base worldwide. In November 2016, the company introduced Microsoft Teams, a new chat-based workspace in Office 365, to enable clients collaborate efficiently by bringing together people, content, and conversations.
Facebook, Inc. is another major provider of the enterprise collaboration solution. The company offers innovative and technologically advanced solution in the market, and focuses on both inorganic and organic growth strategies to tap into the enterprise collaboration market. Facebook, Inc. launched the Workplace in October 2016. This new product enables organizations to increase the productivity of business processes through enhanced communication and collaboration among teams of organizations. Moreover, Facebook partnered with ServiceRocket to provide training and support services for Workplace in the U.S. and Australia through ServiceRocket.
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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