Enterprise Collaboration Market

Microsoft (US) and Google (US) are leading players in Enterprise Collaboration Market

MarketsandMarkets projects the enterprise collaboration market to grow from USD 31.0 billion in 2019 to USD 48.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period. The adoption rate of enterprise collaboration solutions is expected to grow, owing to the increasing use of networking websites as well as social devices for enterprise collaboration and the growing demand for Artificial Intelligence (AI) across the globe.

The ever-growing use of social networking websites is projected to be one of the drivers of the enterprise collaboration market. Social networking websites enable cross-department collaborations, such as sales, marketing, Human Resources (HR), manufacturing, purchasing, and customer support, leading enhanced employee productivity. Furthermore, enterprises can create different groups for teams, projects, open discussions, and company announcements with the help of these social networking websites. Furthermore, it allows enterprises to create multi-company groups where organizations can have discussions with their respective strategic partners and distributors to update them with the company’s latest developments.

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Key market players in the enterprise collaboration market include IBM (US), Microsoft (US), VMware (US), Atlassian (Australia), Cisco Systems (US), Google (US), Adobe Systems (US), Facebook (US), Igloo Software (Canada), Jive Software (US), Mitel Networks (Canada), Salesforce (US), and SAP (Germany), Slack Technologies (US), and Tibco Software (US). The emerging market players include Bynder (Netherlands), Axero Solutions (US), Kaltura (US), Zoho Corporation (US), Highfive (US), Synacor (US), Limeade (US), HighQ Solutions (UK), Jostle (Canada), and Fuze (US). These players have adopted various strategies to grow in the global enterprise collaboration market.

Microsoft’s (US) enterprise collaboration tools, such as Yammer, Skype, Office 365, OneDrive, and SharePoint server, are highly popular among enterprises, as they provide an integrated web-based suite to efficiently manage enterprise collaboration as well as document and record management. Microsoft’s key strategy, in the enterprise collaboration market, is to offer its solutions integrated with its flagship product, Office 365. Microsoft holds a position as one of the leaders in the enterprise collaboration market by launching innovative products for various industry verticals. The company adopts both inorganic as well as organic growth strategies, such as new product launches, product upgradation, partnerships, and collaboration to enhance its reach in the market. For instance, in line with the organic growth strategy in June 2018, Microsoft announced the OneDrive Personal Vault, a new layer of security to the OneDrive personal account, to further protect the most sensitive and vital files of the user. On the other hand, in line with the inorganic growth strategy, in January 2018, Microsoft collaborated with PerfectServe. Under this collaboration, PerfectServe integrated its clinical communication and care team collaboration platform with Microsoft Skype for Business Server and Skype for Business Online.

Google (US) is one of the major players in the enterprise collaboration market and has launched comprehensive products and services portfolio for enterprise collaboration. The company has been providing collaborative solutions for almost a decade. It offers the Gsuite, which is a complete package of collaborative tools for its end users. Google majorly follows inorganic growth strategies to maintain its leadership across the enterprise collaboration market. For instance, in April 2019, Alphabet’s Chronicle partnered with ESET, a global leader in cybersecurity, in this partnership Alphabet will help to enhance the customer insights enabling better protection from advanced persistent threats. In the same month, Google Cloud strategically collaborated with Accenture and announced new enterprise solutions in customer experience transformation.

Related Reports:

Enterprise Collaboration Market by Component (Solutions (Enterprise Video, Enterprise Social Network, Project Management and Analytics, Unified Messaging), Services), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2024

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Report Code
TC 2273
RI Published ON
9/6/2019
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