What Has Been The Evolution of the Enterprise Collaboration Software Market in Recent Years?
The enterprise collaboration software market has seen considerable growth due to a variety of factors.
• The market size of enterprise collaboration software has seen significant expansion lately. The value of the market will rise from $63.85 billion in 2024 to $71.03 billion in 2025, showcasing a compound annual growth rate (CAGR) of 11.3%.
This upward trend during the historical period can be linked to a greater demand for project and task management solutions, an urge to boost competitive edge, the rising implementation of video conferencing and webinar tools, an amplified use of social media, and expansion in the usage of instant messaging for collaboration.
What Is the Forecasted Market Size and Growth Rate for The Enterprise Collaboration Software Market Size In The Coming Years?
The enterprise collaboration software market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of enterprise collaboration software is projected to experience exponential growth in the upcoming years, expanding to $109.32 billion in 2029 with a compound annual growth rate (CAGR) of 11.4%.
This expansion during the predicted period can be credited to the escalated use of mobile devices, the increase in generated data, the surging demand for mobile collaboration tools, the uptake of cloud-based solutions, and a growing desire for immediate and remote collaboration. Future trends during the projection period include the adoption of sophisticated technologies like AI, IoT, and ML, product modernization, technological breakthroughs, the creation of workplace connectivity platforms, and a rise in investments for remote work infrastructures.
What Factors Are Driving Growth In The Enterprise Collaboration Software Market?
The increase in mobile device use is predicted to stimulate the expansion of the enterprise collaboration software market. Mobile devices, handheld computers designed for easy transport, compact design, and light weight, are seeing a surge in usage. Multiple factors contribute to this, including easy access to information and communication, the prevalence of high-speed internet connections, and the growth of Wi-Fi networks. These devices enrich the use of workplace collaboration software by providing users with increased flexibility, mobility, and accessibility. This enables them to engage effectively and maintain productivity, regardless of location or device. For example, a report by Uswitch Limited, a UK-based online and telephone comparison site, published in February 2023 shows that in 2022, the UK had 71.8 million active mobile connections, a 3.8% increase from the previous year. By 2025, the UK's population is estimated to reach 68.3 million, with an expected 95% owning smartphones. Consequently, the rising utilization of mobile devices is fueling the enterprise collaboration software market's growth.
What Are The Main Segments Of The Global Enterprise Collaboration Software Market?
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
Subsegments:
1) By On-Premise: Self-Hosted, Dedicated Servers
2) By Cloud-Based: Public Cloud, Private Cloud, Hybrid Cloud
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What Trends Are Shaping The Enterprise Collaboration Software Market?
Leading businesses in the enterprise collaboration software market are focusing on creating advanced technologies, such as cloud migration platforms, to provide customers enhanced features. A cloud migration platform consists of a range of tools and services that simplify the transition of data or applications from an on-premises data center to a cloud computing environment or from one cloud platform to another. For example, Flexera, a computer software company from the US, unveiled Flexera One FinOps in March 2023. This product suite provides enterprise collaboration tools and solutions that aid cloud teams in cooperating with partners and stakeholders throughout the company. In addition to strengthening the integration between IT asset management (ITAM) and FinOps, this solution helps companies radically improve their visualization and allocation of cloud usage and billing. Additionally, Flexera One FinOps assists in the effective running and management of hybrid IT estates and cloud services on a large scale. This unique solution delivers a holistic view of the overall technology ecosystem, promoting cooperation among cloud teams, ITAM, software license management (SLM), IT operations and engineering, finance, architecture, and security teams within the company.
Who Are the Key Players In The Enterprise Collaboration Software Market?
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
What Is The Most Dominant Region In The Enterprise Collaboration Software Market?
North America was the largest region in the enterprise collaboration software market in 2024. 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.
