According to a research report "Enterprise Collaboration Market by Component (Solutions (Enterprise Video, Project Management and Analytics, Unified Messaging, Business Process Management), Services), Deployment Type, Organization Size, End-User, and Region - Global Forecast to 2026" published by MarketsandMarkets, MarketsandMarkets forecasts the global Enterprise Collaboration Market size to grow from USD 47.2 billion in 2021 to USD 85.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 12.7% during the forecast period. The Enterprise Collaboration Market is fuelled by the adoption of cloud-based services to accelerate collaboration. Organizations are adopting cloud based services that enable multiple users to work on the same file, syncing all the changes made in real-time to enhance collaboration in organizations.
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By Component, the Solutions segment to hold the larger market size during the forecast period
The Equipment segment of the Mobile and wireless backhaul Market is projected to hold the larger market size in 2021. The enterprise collaboration market consists of solutions that increase knowledge sharing among employees and enhance productivity for organizations. The solutions segment is further classified into seven sub-segments, namely enterprise video, unified messaging, enterprise social network, portals and intranet platforms, file sharing and synchronization, project management, and analytics and business process management.
By Solutions, the Enterprise Video segment to record the highest market size in 2021
Under the Solutions segment, the Enterprise Video Services segment is expected to dominate the market during the forecast period. Enterprise video solutions boost enterprise communication with real-time information sharing capabilities by reducing travel costs. These solutions enable internal and external users of an organization to interact with each other through audio, video, and web.
By region, North America to account for the largest market size during the forecast period
North America holds a strong position in the global Enterprise Collaboration Market, due to the presence of most of the top enterprise collaboration vendors such as IBM, Google, Microsoft, and Cisco. North America is also one of the early adopters of 5G technology that would help with seamless file transfers, a smooth experience for cloud services, and high-quality and uninterrupted video conferencing solutions.
Major vendors in the Enterprise Collaboration Market include IBM (US), Microsoft (US), Cisco (US), Adobe (US), Google (US), Citrix (US), Slack (US), Facebook (US), Salesforce (US), and Atlassian (Australia).
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