Enterprise Collaboration Market
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Enterprise Collaboration Market Size Growth Forecast: What to Expect by 2025?
The size of the enterprise collaboration market has experienced swift expansion in the preceding years. It’s projected to escalate from $57.46 billion in 2024 to $63.96 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.3%. The acceleration during the historical period can be linked to the rise of globalization and the trend of remote working, the increasing demand for instantaneous communication, the emphasis on enhancing employee engagement and productivity, and the growing concerns about security and compliance.
How Will the Enterprise Collaboration Market Size Evolve and Grow by 2029?
The market size of enterprise collaboration is projected to experience a swift expansion in the coming years, escalating to $115.64 billion in 2029 with a 16.0% Compound Annual Growth Rate (CAGR). This growth in the projected period is linked to factors such as the adoption of hybrid working models, emphasis on employee experience, shifting cybersecurity environment, and project management integration. Notable trends during this period are the advancement in communication technologies, technological convergence, emergence of solutions for remote work, incorporation of Artificial Intelligence (AI) and Machine Learning (ML), and the augmentation of security and compliance features.
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What Drivers Are Propelling the Growth of Enterprise Collaboration Market Forward?
The surge in digital transformation is anticipated to boost the enterprise collaboration market. Digital transformation involves the inclusion of digital technologies in all business areas to enhance operations, customer experiences, and promote innovation. This shift towards digital solutions facilitates remote and hybrid work models, allowing teams to collaborate effectively irrespective of their location. As businesses aim to incorporate digital technologies into their operations, the need for advanced collaboration platforms that aid real-time collaboration, project management, and secure data sharing is likely to rise. For instance, as per a recent report from Copperberg AB, a Sweden-based e-commerce content and marketing company, and Valtech, a UK-based digital transformation agency, 47% of participants increased their digital investment budget by up to 20% in 2023, compared to 63% in 2022. Enterprises aiming to equal or exceed their competitors are amplifying their budgets. Hence, the escalation in digital transformation is projected to propel the enterprise collaboration market.
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Which Emerging Trends Are Transforming the Enterprise Collaboration Market in 2025?
Progress in technology is emerging as a crucial trend in the enterprise collaboration market. The rising need for AI and the escalating integration of enterprise collaborative solutions with cloud and mobile technologies for efficient business management is expected to offer expansion opportunities for the enterprise collaboration market. For example, Qualcomm Incorporated, an American semiconductor firm, introduced an innovative Video Collaboration Platform Suite in June 2023. This platform, targeted at different domains including home and enterprise settings, was engineered to hasten the future of work through providing enhanced and more immersive virtual meeting and collaboration experiences.
What Are the Key Segments in the Enterprise Collaboration Market?
The enterprise collaboration market covered in this report is segmented –
1) By Type: Internal, External
2) By Deployment Type: Cloud-Based, On-Premise
3) By Enterprise: Small And Medium Enterprises (SME), Large Enterprises
4) By Component: Solutions, Services
5) By Industry: Information Technology (IT) And Telecommunication, Government, Energy And Utilities, Banking, Financial Services And Insurance (BFSI), Manufacturing, Retail And Consumer Goods, Healthcare, Travel And Hospitality
Subsegments:
1) By Internal: Team Collaboration Tools, Intranet Solutions, Document Sharing And Management Systems
2) By External: Customer Collaboration Platforms, Partner Collaboration Tools, Social Media Integration Solutions
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Who Are the Key Players Shaping the Enterprise Collaboration Market’s Competitive Landscape?
Major companies operating in the enterprise collaboration market include Google lnc., Microsoft Corporation, Huawei Technologies Co. Ltd., International Business Machines Corporation, Cisco Systems lnc., SAP SE, Salesforce.Com Inc., Adobe Systems Inc., Zoom Video Communications Inc., Atlassian Corporation plc, Polycom Inc., Mitel LLC, TIBCO Software Inc., Zoho Corporation Pvt. Ltd., Slack Technologies Inc., Blackboard lnc., Asana lnc., Gable.ai lnc., Jive Software, PreVu3D Inc., TestBox lnc., Rocketlane lnc., Pitch Software GmbH, HyperProof lnc., Sustainment Solutions Inc., Uplevel Ops Inc., MetaCX lnc., Axero Solutions LLC, Nobl9 lnc., Env0 lnc., Terzo Digital Inc., Dropbox Inc., Citrix Systems Inc., Box Inc.
What Geographic Markets Are Powering Growth in the Enterprise Collaboration Market?
North America was the largest region in the enterprise collaboration market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise collaboration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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