What Is The Definition Of The Global Enterprise Social Networks Market?
Enterprise social networks (ESNs) refer to digital platforms employed within organizations to enhance internal communication, collaboration, and knowledge sharing. These are primarily used for public and personal interactions and are designed specifically for use within a business environment.
Enterprise Social Networks Global Market Report 2024 provides data on the global enterprise social networks market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The enterprise social networks market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Enterprise Social Networks Market Size And Growth Rates Projected To Evolve?
The enterprise social networks market grew from $11.51 billion in 2023 to $13.45 billion in 2024 at a CAGR of 16.8%, supported by remote work, SME demand, and tool integration. Projected to reach $25.13 billion by 2028 at a CAGR of 16.9%, it will benefit from data analytics, agile work environments, and employee-centric cultures. Emerging trends include AI integration, enhanced security, gamification, blockchain, and social learning platforms.
What Are The Essential Drivers Behind The Growth Of The Enterprise Social Networks Market?
The increasing prevalence of remote working is expected to drive the growth of the enterprise social networks market. Remote working offers flexibility, reduces overhead costs, and enhances work-life balance. It relies on enterprise social networks to facilitate communication, collaboration, and knowledge sharing among distributed teams. A report from the World Economic Forum in January 2024 predicted a 25% increase in digital jobs performed remotely by 2030, signaling a significant rise in demand for enterprise social networks to support remote work arrangements.
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How Is The Global Enterprise Social Networks Market Divided Into Key Segments?
The enterprise social networks market covered in this report is segmented –
1) By Type: Cloud Or Web Based Enterprise Social Network Platform, On Premises Enterprise Social Network Platform
2) By Enterprise Size: Small And Medium Sized Enterprises (SMEs), Large Enterprises
3) By Industry: Education, Travel And Hospitality, Media And Entertainment, Healthcare, Information Technology (IT) And Telecom, Retail, Government And Non-Profit, Other Industries
What Trends Are Reshaping The Future Of The Enterprise Social Networks Market?
In the enterprise social networks market, AI-powered networking platforms are being developed to enhance collaboration and productivity. For example, Goldman Sachs launched Louisa, an AI-powered platform, in May 2023, which uses AI to match employees with potential business opportunities based on shared interests, streamlining networking and improving internal communication.
What Is The Fastest Growing Region In The Enterprise Social Networks Market?
Asia-Pacific was the largest region in the enterprise social networks market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise social networks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
