What are the Historical Developments and Current Growth Metrics of the Communication Software Market?
The communication software market has seen considerable growth due to a variety of factors.
• The market for communication software has expanded significantly over the past few years. Growth is expected from $1.31 billion in 2024 to $1.45 billion in 2025, at a compound annual growth rate (CAGR) of 10.5%.
This growth during the historic period is tied to an increase in smartphones and mobile devices, the rise of social media platforms, the evolution of computer networks, widespread internet use, and rising security concerns.
What Is The Projected Growth Of The Communication Software Template Market?
The communication software market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of communication software is projected to witness substantial expansion in the forthcoming years, escalating to a value of $2.14 billion by 2029 and a compound annual growth rate (CAGR) of 10.2%.
This predicted surge during the forecast duration can be linked to various factors such as globalization, instantaneous communication, increasing preference for voice-activated gadgets, integration of standard IP protocols, and rapid popularity of instant messaging platforms. Significant trends that will shape the market during this forecast period encompass advancements in computing technology, the inception of 5G technology, the emergence of novel technologies, growth of IoT devices, the implementation of blockchain technology, and the advent of augmented reality (AR) and virtual reality (VR) technologies.
What Are The Key Drivers Fueling Growth In The Communication Software Market?
The growth of the communication software market is anticipated to be fuelled by the rising demand for remote collaboration. Remote collaboration implies collaborating with a team located in various places, using technology to facilitate effective communication and coordination. The role of communication software in promoting remote collaboration includes providing resources for video conferencing, messaging, file sharing, and collaborating on documents and projects in real-time. For example, the Bureau of Labor Statistics (BLS), a federal agency based in the US, reports that in August 2023, 19.5% of the workforce worked remotely or from home for pay, maintaining consistent telework rates between 17.9% and 20.0% from October 2022 through August 2023. Consequently, the upsurge in remote collaboration requirements is propelling the communication software market.
What Are The Principal Market Segments In The Global Communication Software Industry?
The communication software market covered in this report is segmented –
1) By Software Type: Unified Communications, Network Management, Customer Experience Management, Other Software Types
2) By Deployment Model: On-Premise, Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Manufacturing, Retail, Healthcare, Information Technology (IT) And Telecommunications, Other Industry Verticals
Subsegments:
1) By Unified Communications: VoIP (Voice Over Internet Protocol), Video Conferencing Software, Instant Messaging And Presence Software, Collaboration Platforms, Email Management Software
2) By Network Management: Network Monitoring Software, Network Configuration Management, Bandwidth Management Software, Network Performance Management
3) By Customer Experience Management: Customer Interaction Management Software, Customer Feedback And Survey Software, Social Media Monitoring And Engagement Tools, Contact Center Software, CRM (Customer Relationship Management) Integration Software
4) By Other Software Types: Messaging And Chatbot Software, Enterprise Messaging Software, Cloud Communication Platforms, Communication APIs And SDKs
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What Emerging Trends Are Influencing The Growth Of The Communication Software Market?
Leading businesses in the communication software marketplace are pioneering novel products, such as AI-enhanced employee listening tools, to upgrade the efficiency and effectiveness of communication systems. The AI-enhanced employee listening tool is a piece of communication software that enhances corporate dialogues and uplifts employee experiences. For example, in April 2023, Simpplr, an American AI-based platform, introduced an AI-enhanced employee listening tool, offering instant insights into employee experiences to bolster company culture. This solution fuses active and passive listening to deliver AI-assisted insights, aiding companies in enhancing their employee experience and thereby empowering them to listen more effectively, learn at a faster pace, and lead more intelligently. The features include real-time analysis of feedback, active and passive listening abilities, and a perception dashboard that identifies employee themes, sentiment trends, and internal benchmarks.
Who Are the Key Players In The Communication Software Market?
Major companies operating in the communication software market are:
• Microsoft Corporation
• Verizon Communications Inc.
• International Business Machines Corporation
• Cisco Systems Inc.
• Oracle Corporation
• SAP SE
• Salesforce Inc.
• Adobe Inc.
• Xerox Corporation
• Zoom Video Communications Inc.
• Twilio Inc.
• Open Text Corporation
• Atlassian Corporation
• Avaya Holdings Corp.
• RingCentral Inc.
• Genesys Cloud Services Inc.
• Mitel Networks Corporation
• Quadient
• Zoho Corporation
• 8x8 Inc.
• Newgen Software Technologies Limited
• MHC Automation
• GuideSpark Inc.
• Simpplr Inc.
• Firstup Inc.
• Nudge Corporation
What Are The Regional Insights Into The Communication Software Market?
North America was the largest region in the communication software market in 2024. The regions covered in the communication software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
