The enterprise collaboration software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Enterprise Collaboration Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The enterprise collaboration software market size has grown rapidly in recent years. It will grow from $57.22 billion in 2023 to $63.85 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to demand for project and task management solutions, need to increase competitive advantage, growing adoption of video conferencing and webinar tools, increasing use of social media, increasing instant messaging for collaboration.
The enterprise collaboration software market size is expected to see rapid growth in the next few years. It will grow to $97.98 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to growing usage of mobile devices, growth in the generated data, rising demand for mobile collaboration tools, adoption of cloud-based services, growing demand for real-time and remote collaboration. Major trends in the forecast period include implementation of advanced technologies such as AI, IoT and ML, product innovation, technological advancements, development of workplace connectivity platform, increasing investments in remote working environments.
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Scope Of Enterprise Collaboration Software Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Enterprise Collaboration Software Market Overview
Market Drivers –
The growing usage of mobile devices is expected to propel the growth of the enterprise collaboration software market going forward. A mobile device is a handheld computer designed for portability, compactness, and lightweight characteristics. The usage of mobile devices is on the rise due to several factors, including easy access to information and communication, the widespread availability of high-speed internet connections, and the proliferation of Wi-Fi networks. Mobile devices enhance the use of workplace collaboration software by giving users more flexibility, mobility, and accessibility, allowing them to interact successfully and remain productive regardless of location or device. For instance, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison website, there were 71.8 million active mobile connections in the UK in 2022, marking a 3.8% increase from the previous year. By 2025, the UK is projected to have a population of 68.3 million, with 95% of them expected to possess smartphones. Therefore, the growing usage of mobile devices is driving the growth of the enterprise collaboration software market.
Market Trends –
Major companies operating in the enterprise collaboration software market are developing advanced technologies, such as cloud migration platforms, to better serve customers with advanced features. A cloud migration platform is a set of tools and services that facilitate the process of moving data, applications, or other business elements from an on-premises data center to a cloud computing environment, or from one cloud platform to another. For instance, in March 2023, Flexera, a US-based computer software company, launched Flexera One FinOps, a suite of enterprise collaboration tools and solutions designed to help cloud teams collaborate with partners and stakeholders across the organization. This solution not only enhances the convergence of IT asset management (ITAM) and FinOps but also empowers enterprises to significantly elevate their visualization and allocation of cloud usage and billing. Furthermore, Flexera One FinOps enables efficient management of hybrid IT estates and the operation of cloud services at scale. This unique solution offers an integrated view of the entire technology ecosystem, facilitating collaboration among cloud teams, ITAM, software license management (SLM), IT operations and engineering, finance, architecture, and security teams across the organization.
The enterprise collaboration software market covered in this report is segmented –
1) By Deployment Type: On-Premise, Cloud-Based
2) By Application: Communication Tools, Conferencing Tools, Coordination Tools
3) By End-User Industry: Telecommunications And IT, Travel And Hospitality, BFSI (Banking, financial services and insurance), Retail And Consumer Goods, Education, Transportation And Logistics, Healthcare, Other End-User Industries
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Regional Insights –
North America was the largest region in the enterprise collaboration software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise collaboration software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the enterprise collaboration software market are Google LLC, Microsoft Corporation, Huawei Technologies Co. Ltd., IBM Corporation, Cisco System Inc., Oracle Corporation, SAP SE, Salesforce Inc., Adobe Systems Inc., Workday Inc., Zoom Video Communications Inc., Atlassian Corporation PLC, RingCentral Inc., Polycom Inc., Mitel LLC, TIBCO Software Inc., Zoho Corporation Pvt. Ltd., Slack Technologies Inc., Dialpad Inc., Wrike Inc., Figma Inc., Calendly LLC, Airtable, Workfront Inc., Notion Labs Inc., ProofHub LLC, Chanty Inc., Axero Solutions LLC, Aurea Software Inc., Nextcloud GmbH
Table of Contents
- Executive Summary
- Enterprise Collaboration Software Market Characteristics
- Enterprise Collaboration Software Market Trends And Strategies
- Enterprise Collaboration Software Market – Macro Economic Scenario
- Global Enterprise Collaboration Software Market Size and Growth
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- Global Enterprise Collaboration Software Market Competitive Dashboard
- Key Mergers And Acquisitions In The Enterprise Collaboration Software Market
- Enterprise Collaboration Software Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Enterprise Collaboration Software Market, Segmentation By Deployment Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Enterprise Collaboration Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Enterprise Collaboration Software Market, Segmentation By End-User Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Google LLC Financial Performance
Table 75: Microsoft Corporation Financial Performance
Table 76: Huawei Technologies Co. Ltd. Financial Performance
Table 77: IBM Corporation Financial Performance
Table 78: Cisco System Inc. Financial Performance
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