The Enterprise Collaboration Tools Market is expected to reach USD 83.76 Billion by 2026, according to a new report by Reports and Data. Enterprise Collaboration Tools allows employees in an organization to share information along with work on projects from various geographic locations involving a combination of networking capabilities, software technologies, and collaborative methods. Techniques may include video conferencing, groupware, and document-sharing abilities. Several industry collaboration software tools have characteristics similar to those offered on successful social media sites.
Due the presence of advanced economies, like the United States (US) and Canada, North America is estimated to hold the largest share of 29.3% in 2018. North America is the most developed region in the market, as almost all large enterprises are located in this region. The region’s powerful financial position also allows it to invest heavily in advanced testing tools and technologies. Organizations in the region are driving beyond the public cloud and moving into a new period of hybrid IT, which combines private cloud, public cloud, and traditional IT. These organizations have executed a hybrid cloud strategy as it assists in developing the way they run their collaboration market.
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Further key findings from the report suggest
- The Enterprise Collaboration Tools Market is estimated to reach USD 83.76 Billion by 2026, at a CAGR of 11.1% during the forecast period.
- The on premise deployment segment accounts for a larger share of 65.2% of the market in 2018.
- The Manufacturing, Retail and Consumer Goods end user is anticipated to grow at the highest rate of 12.3% during the forecast period.
- The services segment is anticipated to grow at a higher rate of 11.4% during the forecast period.
- The SME’s end user segment is anticipated to grow at a higher rate of 11.5% during the forecast period.
- APAC is forecasted to be the fastest growing market with the highest rate of 11.5% during the forecast period.
- The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and rising use of technology in the countries like India, China and Japan, along with several initiatives taken by the government.
- Various players are developing strategies to mark their presence in the industry.
- Lenovo announced some of the new Think Devices, such as Think Centre, Think Book, ThinkPad, and Think Reality in May 2019. The device delivers to businesses a solutions-based approach, composed of software and hardware both.
- It is intended to help enterprise workers to use AR applications to decrease repair times, receive assistance, remove errors, streamline complicated workflows, collaborate, save money, and enhance training quality.
Key companies profiled in the report include:
Enterprise Collaboration Tools Market include Microsoft Corporation, IBM Corporation, Slack technologies, Inc., VMware, Inc., Facebook, Inc., Igloo, Inc., 8x8, Inc., Fuze Inc., Vonage Networks LLC, Atlassian Corporation PLC, Adobe Systems, Cisco Systems, Google, Jive Software, Mitel Networks, Salesforce.Com, SAP, and Tibco Software.
Deployment Outlook (Revenue, USD Million; 2018-2026)
- On-premises
- Cloud
Offerings Outlook (Revenue, USD Million; 2018-2026)
- Solutions
- Services
Organization Size Outlook (Revenue, USD Million; 2018-2026)
- Small and Medium Enterprises (SME’s)
- Large Enterprises
End User Outlook (Revenue, USD Million; 2018-2026)
- Telecommunications and IT
- BFSI
- Manufacturing, Retail and Consumer Goods
- Travel and Hospitality
- Others
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
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