JERSEY CITY, NJ, October 11, 2021 / PRNewswire / – Verified Market Research recently published a report, “Enterprise collaboration market“By type of deployment (cloud-based and on-premise), by application (communication tools, coordination tools), by end user (hospitals and diagnostic laboratories, IT and telecommunications) and by geography. According to a market study verified, the market size for enterprise collaboration was assessed at $ 29.45 billion in 2020 and should reach $ 53.26 billion by 2028, with a CAGR of 8.83% from 2021 to 2028.
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202 – Slips
126 – Tables
37 – Figures
Overview of the Global Enterprise Collaboration Market
Key drivers of this market include increased focus of organizations on improving collaboration and communication among multiple stakeholders located in different geographies, the need to unify internal and external collaboration in a single space and the widespread use of social networking websites.
The increased ability to simplify the communication process is expected to boost the enterprise collaboration market. Most companies are planning for business expansion, which requires effective collaboration solutions such as document management, mobile collaboration, and social collaboration. The increasing trend of BYOD and enterprise mobility in all major regions is driving the demand for such solutions.
However, a huge amount of implementation is hampering the growth of the market. In addition, a complication in the E-Discovery response and legal risks are hampering the growth of the market. Moreover, data collaboration security concerns due to several software methods are limiting the growth of the market.
Key developments in Enterprise collaboration market
- Microsoft has partnered with Morgan Stanley to June 2021 to accelerate its digital transformation. Morgan Stanley would be bundled with Microsoft Azure, which provides data protection and helps the business cloud transformation.
- In May 2021, Google announced a partnership with SpaceX to provide secure global connectivity through SpaceX’s Starlink, which will provide high-speed connectivity through the Google Cloud infrastructure. Companies would thus have transparent and secure access to the cloud.
The main players in the market are Adobe Systems, Cisco Systems, Facebook, IBM, Igloo Software, VMware, Microsoft, Atlassian, Google and Slack Technologies.
Verified market research segmented the global enterprise collaboration market on the basis of type of deployment, application, end user, and geography.
- Enterprise Collaboration Market, By Deployment Type
- Enterprise Collaboration Market, By Application
- Communication tools
- Coordination tools
- Conferencing Tools
- Enterprise Collaboration Market, By End User
- Hospitals and diagnostic laboratories
- IT and Telecommunications
- Public sector
- Enterprise Collaboration Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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