Enterprise Collaboration Market

Market Leader - Enterprise Collaboration Market

The enterprise collaboration market is projected to grow from USD 34.57 Billion in 2018 to USD 59.86 Billion by 2023, at a CAGR of 11.6% from 2018 to 2023. Some of the major factors driving the growth of the enterprise collaboration market include increasing usage of mobile devices for collaboration and widespread usage of social networking websites.

Companies such as Microsoft (US), IBM (US), Cisco Systems (US), Adobe Systems (US), and Salesforce.com (US) offer enterprise collaboration solutions for different industries. These players have adopted various growth strategies such as expansions, agreements, collaborations, and partnerships, acquisitions, and new product launches and product enhancements to strengthen their position in the enterprise collaboration market. Agreements, collaborations, and partnerships were the key strategies adopted by the players in the enterprise collaboration market between January 2015 and March 2018.

Microsoft (US) provides various enterprise collaboration solutions such as Outlook, Yammer, Skype for Business, Microsoft Teams, OneDrive, and SharePoint. Microsoft’s key strategy in the enterprise collaboration market is to offer its solutions integrated with its flagship product, Office 365. The company has adopted new product launches as one of the key growth strategies to offer innovative and upgraded product offerings. The company launched Microsoft 365, Microsoft 365 Enterprise, and Microsoft 365 Business in July 2017. Moreover, Microsoft acquired LinkedIn Corporation in June 2016. The acquisition of LinkedIn has given Microsoft an edge over its competitors in the enterprise collaboration market. Furthermore, Microsoft focuses on the strategy of partnerships, agreements, and alliances to become an exclusive enterprise collaboration solutions and services provider. The company has entered into partnerships with major companies, including Fujitsu Limited, Adobe, Xiaomi Inc., General Electric, and Box, Inc. to offer enhanced enterprise collaboration solutions and expand its customer base across the globe.

IBM (US) offers a comprehensive set of products and services in the enterprise collaboration market, which includes its featured products such as IBM Verse, IBM Notes and Domino Family, IBM Connections Cloud, and IBM Sametime. The company is adopting organic growth strategies such as new product launches and product enhancements. For example, in March 2017, IBM updated its IBM Connections to the next version 6.0, which will help enterprise social networks for a simpler collaboration across the workforce and employee onboarding experience. Moreover, the company focuses on inorganic strategies such as partnerships and acquisitions to strengthen its position in the enterprise collaboration market. For example, in October 2016, IBM partnered with Slack Technologies to offer clients a collaboration solution with the combined power of Slack’s digital workplace and the cognitive computing capabilities of IBM’s Watson. In addition, in May 2017, IBM acquired TIMETOACT Software & Consulting GmbH, a member of TIMETOACT GROUP, and developed XCC, which is a web content & custom app that provides an extension for IBM Connections.

Related Reports:

Enterprise Collaboration Market by Component (Solutions (Enterprise Video, Enterprise Social Network, Project Management & Analytics, Unified Messaging), Services), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023

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Report Code
TC 2273
Published ON
May, 2018
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