The global enterprise collaboration market size is expected 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 increasing demand for remote working is encouraging enterprise collaboration vendors to update their solutions. Enterprise collaboration tools help organizations by providing seamless communication between employees. This improves the operational efficiency and productivity of the employees, thereby helping organizations to meet their business goals.
“By Deployment mode, the cloud segment to grow at the higher CAGR during the forecast period”
By deployment mode, the cloud segment is expected to grow at a higher growth rate during the forecast period. Cloud-based platforms reduce the costs associated with upgrading and updating solutions, as extra costs are borne by service providers. It offers a pay-per-use service model, which provides organizations with the flexibility to pay cloud service vendors only when services are used, as against the upfront capital expenditure involved in an on-premises deployment. Thus, the use of cloud-based enterprise collaboration solutions provides flexibility to organizations to adjust to the dynamic business environment.
“By Organization size, the Large Enterprises segment to hold the larger market size during the forecast period”
The Large Enterprises segment is expected to hold the larger market size. Large Enterprises hold a major portion of the total enterprise collaboration market. Large enterprises have various departments, which need to coordinate with each other, both within and outside organizations, for operational efficiency. These enterprises need specific enterprise collaboration solutions that can easily integrate with their existing systems. The demand for customized enterprise collaboration solutions by large enterprises is encouraging enterprise collaboration vendors to come up with innovative technologies and solutions for better business continuity.
“By region, Asia Pacific to grow at the highest CAGR during the forecast period”
The Asia Pacific (APAC) market is projected to grow at the highest CAGR during the forecast period. The APAC region is expected to be the fastest-growing market in the global enterprise collaboration market, owing to the rapid adoption of enterprise collaboration solutions. Government initiatives to promote the digital infrastructure are responsible for driving the adoption of video conferencing solutions in the region. The region has the highest student population, and with advancing technologies, there is a growing demand for eLearning and distance education. This has led to the rapid adoption of enterprise collaboration solutions in fast-growing countries, such as China, Japan, India and Australia.
The breakup of the profiles of the primary participants is given below:
- By Company: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
- By Designation: C-Level Executives – 35%, Directors– 40%, Others*–25%
- By Region: North America – 40%, Europe – 20%, APAC – 30%, and RoW** – 10%
Note: Tier 1 companies have revenues over USD 10 billion; tier 2 companies have revenues ranging from USD 1 billion to USD 10 billion; and tier 3 companies have revenues ranging from USD 500 million to USD 1 billion
*Others include market experts and industry analysts
**RoW includes MEA and Latin America
Source: Industry Experts?
The Enterprise Collaboration Market is segmented into component, deployment mode, organization size, end user, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; solutions and services; key strategies; new product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated within the Enterprise Collaboration Market.
Reasons To Buy the Report
The report would help the market leaders and new entrants in the following ways:
- It comprehensively segments the Enterprise Collaboration Market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
- It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
- It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launch, product enhancement, partnerships, mergers, and acquisitions.