Enterprise Collaboration Market Analysis | By Company Profiles | Size | Share | Growth | Trends and Forecast To 2024

The Global report on “Enterprise Collaboration Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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The global enterprise collaboration market size is projected 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 increasing use of networking websites and use of mobile devices for collaboration are the key factors driving the enterprise collaboration market. However, high implementation costs and difficulty in countering eDiscovery and legal risks may hamper the growth of the overall market. Social networking websites and platforms enable cross-department collaboration, such as sales, marketing, Human Resources (HR), manufacturing, purchasing, and customer support, leading to increased productivity.

Portals and intranet platform segment to hold he second largest market size during the forecast period

Portals and intranet platforms enable employees of an organization to transfer knowledge, distribute information, and increase interactions among themselves in a personalized environment to enhance employee productivity. Companies use the portals and intranet platforms to integrate business processes and their employees. The efficient and organized use of portals and intranet platforms provide total enterprise-wide information to organizations via a single platform. Intranet platforms reduce the time spent by employees in searching for enterprise information, thereby enabling them to channelize their valuable time in productive work. With the transformation of organizations into digital workplaces, intranet portals serve as central hubs to provide information and integrated applications for diversely dispersed employees.

Banking, Financial Services and Insurance vertical to hold the second highest market share during the forecast period

Enterprise collaboration solutions offer Banking, Financial Services and Insurance (BFSI) companies a complete ubiquitous communication and collaboration environment, so that the users, such as bank branch employees, BFSI leaders and specialists, and call center agents can benefit from real-time communication and data sharing. Hence, the BFSI vertical is looking toward being more innovative, agile, customer-centric, and collaborative to meet the changing customers’ expectations by deploying enterprise collaboration solutions. According to data provided by Accenture in its report titled “Master Change lead in the New – Financial Services Change Survey 2017”, 80% of the financial services companies are investing in new digital technologies. BFSI companies are adopting innovative collaboration solutions, such as unified communication, video and audio conferencing, and intranet platforms, to improve employee efficiency, promote teamwork, and simplify communication and collaboration. According to Vidyo’s 2019 Global Video Banking Report, more than 36% of the respondents felt that video banking was the most effective sales channel as compared to other channels. Live or on-demand videos enable BFSI companies to make announcements regarding executive messaging and policies, investor relations, external communication, and collaborations among their geographically dispersed teams.

Europe to be the second largest revenue generator during the forecast period

Europe is the second largest revenue generator in the enterprise collaboration market in 2019. Europe is witnessing an increase in the adoption of enterprise collaboration solutions across enterprises to enhance employee productivity. The practice of implementing these solutions by organizations has been extensively promoted by the Governments of European countries to maintain compliance with the rules and regulations related to the protection of crucial business data. Additionally, the enormous amount of data generated across various organizations in different countries of the region has led to an increase in the adoption of enterprise collaboration solutions. Furthermore, the region has witnessed a significant rise in the integration of enterprise collaboration solutions with cloud and mobile technologies for optimizing business processes. Enterprise collaboration suites offer several benefits to organizations, such as enhanced collaboration, content management, records management, document management, and content usage flexibility. Presently, large enterprises and SMEs in the UK, Switzerland, Austria, Germany, and France are investing in enterprise collaboration solutions to enhance their communication, content management, and streamline business operations as well as gain a competitive edge in the global market.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the enterprise collaboration market.

The breakup of the profiles of the primary participants is given below:

  • By Company: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
  • By Designation: C-Level Executives – 38% and Director Level – 30%, and Others – 32%
  • By Region: North America – 40%, Europe – 15%, APAC – 35%, MEA–5%, and Latin America–5%

The key vendors profiled in the report are as follows:

  • 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)
  • SAP (Germany)
  • Slack Technologies (US)
  • Tibco Software (US)
  • Bynder (Netherlands)
  • Axero Solutions (US)
  • Kaltura (US)
  • Zoho Corporation (US)
  • Highfive (US)
  • Synacor (US)
  • Limeade (US)
  • HighQ Solutions (UK)
  • Jostle (Canada)
  • Fuze (US)

Research Coverage

The enterprise collaboration market has been segmented by component into solutions (unified communication, file sharing and synchronization, portals and intranet platform, project management and analytics, and enterprise social network) and services (professional services and managed services); deployment mode (cloud and on-premises); organization size (Small and Medium-sized Enterprises [SMEs]and large enterprises), vertical (IT and telecommunication, Banking, financial Services and Insurance [BFSI], public sector, energy & utilities, manufacturing, healthcare, retail & consumer goods, travel & hospitality, transportation and logistics, and others), and region.A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; key strategies; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the global enterprise collaboration market.

Reasons to Buy the Report

The report would help market leaders/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 sub segments across enterprise collaborations regions.
  • It would help stakeholders understand the pulse of the market and provide information about the key market drivers, restraints, challenges, and opportunities.
  • It would help stakeholders understand competitor behavior better and gain deeper insights to enhance their positions in the market. The competitive landscape section includes the competitor ecosystem, partnerships, and acquisitions.

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