Collaboration Software Market Statistics
Collaboration software is designed to help people that are working on a common task or project to achieve their goals. It includes every possible tool that is needed for a team to work together on a particular project. It facilitates users in setting up quick communication, group conversations, share files, address questions, and provide relevant information from any location or from different devices. It also helps to set up effective communication between users so that they can discuss about projects in depth and make important decisions. Furthermore, they offer features such as task management, integration, messaging, VoIP and video conferencing, and document collaboration, ultimately helping companies to improve team efficiency and productivity.
COVID-19 scenario analysis:
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the collaboration software market in 2020. .
- To encourage social distancing, businesses have shifted to online mode to run their operations, collaboration software would help companies to setup effective communication between employees working on the same project remotely and share files easily on the network.
- During the pandemic, companies dealing in collaboration software are witnessing high demand among the users. For instance, on June 3, 2020: The Trimble Connect , cloud-based collaboration platform surpassed 10 million users fueling the growth of the market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in shift of organizations toward online platforms is the major factor that drives growth of the market. In addition, encouraging remote work culture by organizations is expected to supplement the market growth. However, lack of technical expertise hampers growth of the market. Furthermore, integration of internet of things (IoT) with devices and artificial intelligence (AI) across the globe is expected to provide lucrative opportunities for the global collaboration software market.
The market trends for collaboration software market are as follow:
Rise in remote culture will drive the market growth:
Due to growth remote culture all across the globe and adoption of work from home culture in many organizations fuel the demand of collaboration software. Various organizations are encouraging employees to work from home, owing to the pandemic situation across the globe. For instance, amid the corona virus, Twitter has announced work from home forever option, which is expected to drive the growth of the market in the future.
North America expected to lead the market growth:
North America is expected to have the largest market share during the forecast period, owing to technological advancements. In addition, prominent players dealing in collaboration software are introducing new tools and features to sustain in the competitive market and fulfill growing needs. Asia-Pacific region is also anticipated to witness significant growth, owing to emerging economies such as India, China, and Japan and growing IT sector in the region.
Key benefits of the report:
- This study presents the analytical depiction of the collaboration software market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the collaboration software market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
Collaboration Software Market Report Highlights
| Aspects | Details |
 By Component |
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 By Deployment Model |
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 By End User |
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 By Region |
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 Key Market Players | Adobe Inc., IBM Corporation, AT and T, Slack., Avaya Inc., Cisco Corporation, Citrix Systems Inc., Google LLC, Microsoft Corporation, Mitel Networks Corp., Oracle, Blackboard Inc., Dropbox, Inc., AudioCodes Limited |
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