What is the team collaboration software market growth? Other factors anticipated to contribute to the market growth for team collaboration software include the rising trend of cloud-based Software as a Service, the COVID-19 pandemic-related shift toward virtual businesses, and the increasing demand for team collaboration software to lower administration and maintenance costs. 10.2.6 Indonesia Based on deployment, the market is segmented into cloud and on-premises. IMARC Group provides an analysis of the key trends in each sub-segment of the global team collaboration software market, along with forecasts at the global, regional and country level from 2022-2027. The growing adoption of cloud-based SaaS (Software as a Service) in the business environments is the primary driver of the team collaboration software market growth. 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These tools allow virtual teams to work together across geographies, functions, and organizations to boost efficiency and innovation. The North American market accounted for a sizeable revenue share of over 33% in 2021, thanks to the rapid adoption of web conferencing solutions and collaboration portals by enterprises in the region. Some hackers are able to reach corporate websites simply by following the standard web-based protocols. Avail customized purchase options to meet your exact research needs. On the basis of component, it is categorized into software and service. The growth of the region is mainly owing to the technological advancements and stable economic growth. Table 7: Global: Team Collaboration Software Market: Competitive Structure With this acquisition, Cisco will use BabbleLabss advanced. Moreover, the penetration of high-speed Internet in many countries makes it easier for employees to flexibly use the software in the area, thus raising their demand. Based on component, the global market has been segmented into solution and services. 10.3.7 Others 10.1.2.2 Market Forecast As the world of work continues to evolve, and hybrid workplaces grow increasingly common, the demand for exceptional tools for collaboration will only grow. 15.1 Market Structure Figure 38: Global: Team Collaboration Software (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027 Figure 24: Global: Team Collaboration Software (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027 Global Team Collaboration Software Market To Be Driven By Rising Trend Of Remote Working Environment In The Forecast Period Of 2022-2027. 15.3.9 Open Text Corporation Figure 85: Middle East and Africa: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 The global team collaboration software market was valued at 15.25 Billion U.S. dollars in 2020 and is expected to grow to 40.79 Billion U.S. dollars in 2028, at a Compound Annual Growth Rate. Software for team collaboration enables cross-continental team cooperation, promoting organizational communication transparency. The IT & telecommunication industry anticipate high adoption of team collaboration software in the coming years. 15.3.9.4 SWOT Analysis 10.1.1.2 Market Forecast Figure 35: Global: Team Collaboration Software (Education) Market: Sales Value (in Million US$), 2016 & 2021 15.3.6 Citrix Systems Inc 14 Price Analysis These insights are included in the report as a major market contributor. Request Free Sample. The usage of team collaboration software is thereby expected to showcase an exponential growth during the forecast period. Privacy policy. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Large Enterprises to Dominate Market Fueled by Demand for Digital Collaboration. enhance our services. 10.1.2.1 Market Trends The team collaboration software market size was valued at $9,878 million in 2019, and is projected to reach $26,493 million by 2027, growing at a CAGR of 13.2% from 2020 to 2027. 7.2.1 Market Trends 9.7.2 Market Forecast Adopting on-premises implementation mitigates the need to invest in costly internet services that provide companies with cost-saving opportunities and also ensure stable business practices in the event of data failures. 15.3.2.4 SWOT Analysis Developing nations with meager development budgets could impede market expansion. On the basis of software types, the global team collaboration software market is fragmented as communication & coordination and conferencing. Oracle Corporation, Slack Technologies, Inc., TeamViewer GmbH, Zoom Video Communications, Inc., Trello (Atlassian Corporation Plc), Cisco System, Inc., LogMeIn, Inc., nTask, Citrix Systems, Inc., and AT&T, Inc. are some of the top companies in the market. 2. 10.2.7.1 Market Trends 15.3.3.4 SWOT Analysis Figure 63: Germany: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 This has positively impacted the team collaboration software market from the recent past. This can be attributed to the increasing usage of web conferencing as the primary means of communication across organizations. Datanyze helps you reach more than 13,203 contacts that are using Team Collaboration , including U.S. Department of Defense Walmart Amazon.com Find Contacts Top Team Collaboration Technologies 15.3.8.3 Financials Among these, the IT and telecommunication industry holds the largest market share. This ensures easy communication between employees, stores, and back offices at other locations. 11.1 Overview Figure 86: Middle East and Africa: Team Collaboration Software Market: Breakup by Country (in %), 2021 Apart from that, the reducing contact time across different departments improves operational efficiency and enhances the ability to generate profit. Per the deployment, the fragments are on-premise and cloud. Many applications often collect metadata from the device itself in URLs, so that sensitive data can be exposed unintentionally. Figure 82: Mexico: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 China Team Collaboration Tools' market size was valued at USD 1.98 billion in 2021 and is expected to reach USD 3.83 billion by 2029, at a CAGR of 8.6% from 2022 to 2029. For instance, in June 2020, Microsoft Corporation offered a free six-month trial globally for a premium tier of Microsoft Teams. Along with solutions, organizations are also offering managed and professional services. Which region holds the largest market share in the Market? As a result of the rising start-up culture in both emerging and developed economies, BYOD technology will create enormous growth opportunities while ensuring operational flexibility. This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. 10.4.3 Others Many of the team collaboration software combine video conferencing with real-time content collaboration in office documents, PDFs, images, whiteboards, and texts. 10.3 Europe Figure 21: Global: Team Collaboration Software (BFSI) Market: Sales Value (in Million US$), 2016 & 2021 Aforementioned are the factors that anticipate high growth of team collaboration software among various organizations across the globe. 15.3.10.1 Company Overview 9.1 BFSI 15.3.2 AT&T Inc The recently released Fortune Business Insights research on the Global Team Collaboration Software Market survey report provides facts and statistics regarding market structure and size. As a result, in the following years, cloud-based SaaS models are anticipated to fuel market expansion. Pune, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The global Team Collaboration Software market size was valued at USD 12327.92 million in 2021 and is expected to expand at a CAGR of 9.52% during the forecast period, reaching USD 21271.52 million by 2027. On the basis of deployment, the market is segmented as cloud, on-premise. The global team collaboration software market size was valued at USD 12,490 million in 2021. Figure 70: Italy: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 By software type, it is bifurcated into conferencing and communication and co-ordination. 13 Porters Five Forces Analysis The team collaboration software industry witnessed a spike in demand during the COVID-19 pandemic due to the introduction of policies, like work from home, across the world. Figure 49: Japan: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Kindly contact us for the actual market size and trends. . Global and Chinese Team Collaboration Software Market 2022 is a professional and in-depth study on the current state of the global market with a focus on the Global and Chinese market. Europe is expected to lead the global market and is set to expand by exhibiting an exceptional CAGR by 2028. Collaboration tools enable data sharing in real time and allow cross-functional teams to remain linked through emails, direct messages, voice mails, and conferences. Figure 59: Others: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 This is likely to open up lucrative market potential. The team collaboration software market share is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry. Control of the project progress is important for companies for long-term success and to gain a competitive edge. Trends such as remote working and freelancing has proliferated the demand for team collaboration software from the recent past. Key players are collaborating with other significant players to provide remote solutions to automate work processes from any region, to collaborate effectively, and to maintain communication among teams. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. The solution held the largest market share in 2020 and is expected to maintain its dominance over the forecast period. Figure 19: Global: Team Collaboration Software (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021 PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request). 6 Market Breakup by Components Diversified teams in terms of skills or geographically, needs to communicate, manage, coordinate together to collectively achieve an organizations goal. 15.3.6.3 Financials Team collaboration software vary depending upon an organizations needs. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of team collaboration software across numerous organizations for making work more transparent and efficient, while maintaining business continuity, during the remote working scenario. Channel-Partners / Asia Pasific / India / Karnataka / Bengaluru / Team Collaboration / Find the best Team Collaboration software companies in Bengaluru Find in the list below the best Team Collaboration software providers that are currently on our platform to help you with implementation, training or consulting services in Bengaluru 13.5 Threat of New Entrants This can be attributed to the increasing demand for cloud-based platforms for effective team collaboration across enterprises, in light of the rising number of people working remotely. Thus, businesses are shifting from traditional communication techniques to advanced solutions and are building holistic collaboration strategies. Many collaborative platform players helped industries to cope in their disrupted business. The global team collaboration software market is analyzed across the component, deployment, software type, industry vertical, and region. 15.3.5 Cisco Systems Inc. Figure 83: Others: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 2.1 Objectives of the Study Figure 67: United Kingdom: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Moreover, the ability of team collaboration software that provides coordination of cross-continent teams is driving the demand for collaborative platforms to improve the workflow efficiencies. Leading market players are introducing new solutions to encourage active collaboration and employee engagement. Zoom and 88 meeting spaces provide hand-raising and inline translation features to maintain global connectivity. 10.1 North America With technological advancements in the enterprise collaboration technology, the adoption of video conferencing and team meeting solutions is expected to increase for effectively communicating with partners, customers, and onshore teams. The rising popularity of work from home trends in startups and small and medium-sized companies is also set to contribute to the global team collaboration software market share. ), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. The study provides Porters five forces analysis of the team collaboration software industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the market. Figure 60: Others: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 ( India: +91 120 433 0800 ). Due to the varied locations of its customers and staff, the IT and telecoms industry has seen a high adoption rate of team collaboration software. Addition or alteration to country, regional & segment scope. How big is the team collaboration software market? As people work together, Kona checks out how they communicate and provides business leaders with insights on how to manage future interactions. Collaborative working environment have witnessed change from deskbased work jobs to remote working, which has evolved the way teams works together. 9.9.2 Market Forecast 10.4.1 Brazil Whereas, rise in remote working has proliferated the adoption of cloud-based team collaboration software services, as these services are cost-effective due to pay-as-you-go model and provide access to high volume of data. Teams can brainstorm in real-time on virtual whiteboards available for various enterprises, such as Cisco Webex. Who are the key companies/players in the team collaboration software market? 10.3.5 Spain Based on enterprise size, the global market is segmented into large enterprises and SMEs. Multiple companies have witnessed disruptions in their day-to-day operations and workforce management. Team collaboration software helps maximize teamwork effectiveness by providing a central platform wherein employees can share knowledge, data, and documents to solve specific business problems or complete creative projects together. Figure 46: Asia-Pacific: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 2.4.1 Bottom-Up Approach The coordination of project activities among various team members and teams is much easier with collaborative software solutions. Figure 11: Global: Team Collaboration Software (Service) Market: Sales Value (in Million US$), 2016 & 2021 The COVID-19 pandemic has played a crucial role in promoting the deployment of cloud-based communication tools, such as instant messaging software and video conferencing tools, to enable effective communication across businesses while the employees work remotely. 10.2.3 India The IT and telecommunication holds the major market share. Some of the advance features such as white boarding, screen sharing, multi-presenter, and others have proliferated high awareness for the need for team collaboration software as a day-to-day operation in an organization. 7.1.1 Market Trends The steady rise in CAGR is attributable to this markets demand and growth rate, returning to pre-pandemic levels once the pandemic is over. Figure 41: United States: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 For example, IBM Connections software integrates Microsoft Office, Windows, Sharepoint, WebSphere Portal, and Lotus Quikr. The cloud segment is expected to be the fastest growing segment during the forecast period. In accordance with the increased emphasis on upgrading networking technology to cope with the COVID-19 pandemic, the Middle East and Africa and Latin America accounted for a substantial revenue share in 2020. The rising deployment of team collaboration software for day-to-day business operations, that allows teams to interact from any location on the cloud, which boosts productivity with enhanced security, is primarily driving the global team collaboration software market. Figure 52: India: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 Inkwood Research estimates that the global team collaboration software market is expected to reach $22.71 Billion by 2028, growing at a CAGR of 10.89% during the forecast period. Everything successful in a business revolves around effective communication; therefore, team communication aids in goal achievement, and coordination lessens monotonous work. The team collaboration software industry witnessed a spike in demand during the COVID-19 pandemic due to the introduction of policies, like work from home, across the world. Copyright 2022 Grand View Research, Inc. All rights reserved. 9.8 Education 10. Who are the key players/companies in the global team collaboration software market? Apart from this, due to the growing volume of financial transactions, banks are embedding digital collaboration into process workflows to improve employee productivity. The market for team collaboration is constrained by legacy infrastructure since scaling current infrastructures costs money. In 2021, the top 10 Collaboration software vendors accounted for nearly 65.9% of the global Collaboration applications market which grew 20.3% to approach nearly $19.2 billion in license . All rights reserved. The communication & collaboration segment. The Asia Pacific market accounted for a considerable revenue share of close to 22.0% in 2021, owing to the ongoing digitization of businesses and the development of high-speed internet infrastructure in the region. Free business intelligence platform with subscription, 4. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Team productivity leads a business to success and high production. 6.2.2 Market Forecast 1. Figure 1: Global: Team Collaboration Software Market: Major Drivers and Challenges 2 Scope and Methodology What are the key regions in the global team collaboration software market? Industries such as BFSI, manufacturing, and e-commerce witnessed disruptions in their business operations and workforce management. The global team collaboration software market size is anticipated to reach USD 56.67 billion by 2030, exhibiting a CAGR of 9.5% during the forecast period, according to a new report published by Grand View Research, Inc. According to a report published by Cisco Systems Inc. in March 2016, companies adopting BYOD technology can save approximately USD 350 per year per employee. Figure 39: North America: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Thank you for requesting a call back, our sales representative will get in touch with you shortly! 15.3.10 Oracle Corporation 10.5 Middle East and Africa It also helps the team members to make informed choices by combining all the project details. On the basis of deployment type, global Team Collaboration Software market has been segregated into audio conferencing services, video conferencing services and web conferencing among others. Professional services include integration and implementation, training and education, and support and maintenance. 10.2.4.2 Market Forecast Figure 47: China: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 North America holds the major market share. Pune, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The global Team Collaboration Software market size was valued at USD 12327.92 million in 2021 and is expected to expand at a CAGR of 9.52% during the . According to Fortune Business Insights, the global market is expected to reach USD 40.79 billion by 2028. Pune India, Dec. 09, 2022 (GLOBE NEWSWIRE) The market has been studied for the below-mentioned segmentation and . 1. The Team Collaboration Software market in the U.S. is estimated at US$2.2 Billion in the year 2020. Figure 43: Canada: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 According to a blog published by Vyopta Incorporated in April 2020, there has been a 3X increase in the number of participants joining online meetings, as compared to January. For instance, Sike Insights introduced the Kona bot for Slack in 2020. 10.2 Asia-Pacific Besides, these cloud platforms offer flexibility to access collaborative tools through smartphones. Players are innovating collaborative tools for high adoption rates. Thank you for contacting us, our sales representative will get in touch with you shortly! Numerous SMEs, giant corporations, and start-up businesses operate in Asia-Pacific. Also, the high competition in the market is forcing companies to adopt different business strategies to gain optimal market share. 10.5.2 Market Breakup by Country 15.3.8.4 SWOT Analysis The segment covers the team collaboration software adopted by IT and telecom companies. Table 4: Global: Team Collaboration Software Market Forecast: Breakup by Deployment (in Million US$), 2022-2027 Globalization and digitization are dominating initiatives proliferating the Software as a Service (SaaS) model at a significant rate. Request a Free sample to learn more about this report. Figure 68: United Kingdom: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 Team Collaboration Software Market Trends: With the increasing number of organizations adopting remote or hybrid working models, there is a rise in the need for team collaboration software to make remote work more transparent and efficient and maintain business continuity. The market size is inclusive of various team collaboration software and solutions offered by key players such as Microsoft Corporations Microsoft Teams, Workplace by Facebook, Oracle Beehive by Oracle Corporation, among others. A large number of companies have implemented work from home programs for their workers in order to fight against the threat of coronavirus. The region-wise section of the global team collaboration software market includes North America, Europe, Asia-Pacific, and LAMEA. Figure 9: Global: Team Collaboration Software (Solution) Market: Sales Value (in Million US$), 2016 & 2021 10.3.5.2 Market Forecast 15.3.1.3 Financials Figure 14: Global: Team Collaboration Software (Conferencing) Market Forecast: Sales Value (in Million US$), 2022-2027 The report focuses on the growth prospects, restraints, and market analysis. However, a lack of IT infrastructure in emerging nations may impede market expansion. The region's market is expanding due to ongoing technological developments, the presence of numerous team collaboration software providers, and the availability of highly skilled technical resources. 4.1 Overview 10.2.6.2 Market Forecast 9.5.2 Market Forecast Cloud-based platforms equally allow remote teams to streamline their business operations and manage projects of all sizes. When teams are massive, sophisticated, and geographically dispersed at the enterprise level, it's effortless for someone to overlook an email or forget to invite a remote team member to a meeting. 6. Figure 36: Global: Team Collaboration Software (Education) Market Forecast: Sales Value (in Million US$), 2022-2027 To get more information about this market, Request Sample. Team Collaboration Software Market report provides an absolute overview of the market by covering many elements of market analysis, product definition, market segmentation, significant. tasks per community members and app market Pristine: video collaboration software for smart mobile devices, and smartglasses: Project . 10.3.6.2 Market Forecast Global Team Collaboration Software market size was ** billion USD in 2021, and will expand at a CAGR of **% from 2022 to 2026, according to the report. 10.2.5 Australia Nowadays, transparency in working environment has become the necessity to achieve maximum productivity in an organization. What are the key factors driving the global team collaboration software market? Globalization of the workforce is expected to accelerate small and large businesses' large-scale adoption of team collaboration software. "Smart Strategies, Giving Speed to your Growth Trajectory", Region : Global | Format: PDF | Report ID: FBI101327. +91 780-304-0404. Team Collaboration Software Market Share, Size, Trends, Industry Analysis Report, By Software (Conferencing, Communication & Coordination); By Application; By Deployment; By Region; Segment Forecast, 2021 - 2028 Published Date: Oct 2021 Pages: 112 Format: PDF Report ID: PM2096 Base Year: 2020 Historical Data: 2016 - 2019 Description b. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Per the component, the fragments are Software and service. 15.3.1.1 Company Overview 11.2 Strengths Moreover, easy access to high-speed internet necessary for operating remote work models is expected to support the growth prospects of the regional market. "The quality of research they have done for us has been excellent.". North America is forecasted to have a shareholding of USD 11,068 million, growing at a CAGR of 9.75%. Figure 5: Global: Team Collaboration Software Market: Breakup by Software Type (in %), 2021 . Choose reports from a database of more than 10,000 reports. Also, the growing demand for collaboration applications across SMEs is driven by the increasing operational costs for managing large offices. b. What has been the impact of COVID-19 on the global team collaboration software market? 7.1.2 Market Forecast The 2D virtual space allows users to move around an avatar and communicate with sponsors, exhibitors, or other users. 11.5 Threats This segment comprises of team collaboration tools deployed on cloud environments. The team collaboration software market is growing due to the favorable effects of such service diversification. The players operating in the team collaboration software market analysis include AT&T Intellectual Property, Cisco System Inc., Citrix Systems Inc., Google LLC, IBM Corporation, Microsoft Corporation, MindMeld Inc., Oracle Corporation, Slack Technologies, Inc., and SMART Technologies ULC. These programs are widely utilized in almost all businesses to assist employees in separating work-related conversations from personal chats, which increases productivity and enables an organization to run openly. 10.2.4.1 Market Trends For instance, in July 2020, Kona bot for Slack was launched by Sike Insights. In addition to that, the cumulative number of Small and Medium-sized Enterprises (SMEs) are leading to the rising adoption of Bring-Your-Own-Device (BYOD) practices in order to reduce or restrict the initial infrastructure costs. Team Collaboration Software Market Segments: By Component Solution Web Conferencing Communications Task Management File Sharing and Synchronization Enterprise Social Network Others (Unified Messaging, Portals, Etc.) Team Collaboration Software Market - Global Industry Analysis and Forecast (2022-2027) Team Collaboration Software Market is expected to reach US $ 24.66 Bn. 10.4.1.1 Market Trends Figure 8: Global: Team Collaboration Software Market: Breakup by Region (in %), 2021 Based on geography, North America garnered the highest share in 2019, generating nearly two-fifths of the global team collaboration software market. 7.2 Communication and Co-Ordination Adoption of collaboration software and conferencing tools among businesses is one of the key drivers for market growth. 10.2.5.2 Market Forecast Figure 84: Others: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 6.1 Solution Team collaboration software enables businesses to plan and manage all phases of the project and share ideas between all team members. Some prominent players in the global team collaboration software market include: Adobe Asana, Inc. Avaya Inc. AT&T, Inc. The market is projected to grow at a CAGR of 12.7% over the forecast duration. It also delivers a wide range of advantages, from cost savings to increasing productivity and enhancing security. On-premise team collaboration software are widely deployed, owing to security framework of an organization that protect the data as it stays on-premise within the organizations framework. 10.2.3.1 Market Trends It is also known as collaborative software, online collaboration software, and groupware. Discounted price for multiple reports across domains, 2. 2.5 Forecasting Methodology Figure 57: Indonesia: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 With businesses embracing more diverse interactive technical methods, security issues are growing. 15.3.10.2 Product Portfolio For further information review our Privacy Policy. Depending on the configuration of network security, the adoption of collaboration tools may open an insecure channel that can introduce malicious code or other forms of ransomware. The ability to monitor different activities, such as meetings and deadlines, allows businesses to work efficiently, thereby enabling corporate adoption. The primary factor for businesses to use team collaboration software is to improve the productivity among its employees who dont necessarily work in the same office space, and are working in diversified offices. Table 8: Global: Team Collaboration Software Market: Key Players, Note: We value your privacy and will never rent or sell your email address. Such developments are encouraging organizations to incorporate team collaboration software to optimize their workforce and facilitate effective interaction among employees. In recent times, the collaboration tools have become the most widely used tools by distributed project teams. The global team collaboration software market size was valued at USD 21.69 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2030. The Covid19 pandemic has forced organizations to take a good look at the business continuity plans and assess their remote working readiness. 9.8.1 Market Trends For instance, in January 2022, Zoom Video Communications, Inc. introduced a virtual show-floor Expo for Zoom Events that gives organizations more ways of engaging with participants. Cloud computing services are being widely used to promote business development in the region. Figure 87: Middle East and Africa: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 10.5.3 Market Forecast 10.2.7 Others Figure 51: India: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 9.5.1 Market Trends The global team collaboration software market is expected to grow at a compound annual growth rate of 9.5% from 2022 to 2030 to reach USD 56.67 billion by 2030. b. 10.3.1.2 Market Forecast For more details, please read our privacy policy. 10.5.1 Market Trends However, lack of IT infrastructure in developing regions could hamper the market growth to a certain extent. AVAYA INC, AT&T INC, CISCO SYSTEMS, INC, CITRIX SYSTEMS, INC, GOOGLE LLC, INTERNATIONAL BUSINESS MACHINES CORPORATION, MICROSOFT CORPORATION, ORACLE CORPORATION, SLACK TECHNOLOGIES, INC, SMART TECHNOLOGIES ULC. 15.3.1.4 SWOT Analysis It looks quite comprehensive and the data is exactly what I was looking for. 8.2 Cloud-based The SaaS delivery model has significantly transformed team collaboration software into independent applications, mitigating slower response times and leading to lesser system failures. Many regional companies have now adopted cloud-based Team Collaboration Software to boost worker productivity and company success. Increasing Bring Your Own Device (BOYD) trend across enterprises is likely to fuel the industry growth. What is the breakup of the global team collaboration software market based on the industry vertical? Major Players to Focus on Mergers to Cater towards Rising Demand among Consumers. The strong presence of several leading market players, such as Microsoft, Cisco Systems, Inc., and Asana, is also expected to create lucrative growth prospects for the market. Remarkable job and great efforts by your research team. by 2027, at a CAGR of 13% during the forecast period. The IT and telecommunications segment had the largest market share in 2020. Privacy Policy. 10.4.2.2 Market Forecast 6. Figure 66: France: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 10.3.2 France In addition, North American players are introducing innovative collaboration software with additional in the existing software. For this study, Grand View Research has segmented the global team collaboration software market report based on deployment, software type, application, and region: Deployment Outlook (Revenue, USD Billion, 2018 - 2030), Software Type Outlook (Revenue, USD Billion, 2018 - 2030), Application Outlook (Revenue, USD Billion, 2018 - 2030), Regional Outlook (Revenue, USD Billion, 2018 - 2030). 15.3.2.1 Company Overview Additionally, organizations utilize team collaboration software primarily to increase efficiency among staff members who don't always share office space and operate in different offices. 9.3.1 Market Trends 10.3.3.2 Market Forecast 10.3.4.1 Market Trends We never share your personal data. The growth is mainly attributed to the increasing investments in advanced technology, availability of cloud service providers, and large number smartphone users in the region. For instance, in 2017, Slack Technologies that offers team collaboration software registered 6 million daily active users. Oracle Beehive: combines email, team collaboration, and conferencing in one collaboration platform . Collaboration Software Market size exceeded USD 9 billion in 2019 and is estimated to grow at over 14% CAGR from 2020 to 2026. This solution has been designed to offer an affordable and professional collaborative solution, especially for small businesses. 1 Preface Due to its dominance in the software industry, the IT and telecoms sector has boosted the usage of collaboration technology. Based on software type, the communication and coordination segment contributed to more than half of the global team collaboration software market share in 2019 and is anticipated to lead the. Cloud team collaboration software has experienced rapid growth and is anticipated to maintain its leadership in North America. Free upgrade to enterprise license (allows to share across all company locations), 5. The market further benefits from the integration of technologies such as Artificial Intelligence (AI) with team collaboration software solutions, which, in turn, facilitates automation and improves communication within an organization. The rising BYOD trend in small and medium-sized enterprises would also support the growth of this segment. The healthcare segment is expected to expand at a CAGR of nearly 14% from 2022 to 2030. 5.1 Market Overview For a start, the report provides an in-depth analysis of the current market situation through three different aspects - by region, by type and by application, which . I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global team collaboration software market is projected to grow from $17.15 billion in 2021 to $40.79 billion in 2028 at a CAGR of 13.2% in forecast period, 2020 Fortune Business Insights . 15.3.4 Blackboard Inc. (Anthology Inc.) In the forecast period, the SMEs segment is projected to rise at the highest CAGR. Due to trends in remote work and freelancing, there is a greater need for team collaboration software. 9.1.1 Market Trends The rapid industrialization in countries such as India and Japan is further strengthening the importance of developing efficient team coordination structures. Adoption of Collaboration Tools to Efficiently Manage Projects will Boost Growth. Thus, cloud based deployments are expected to dominate the market at present and is expected to witness significant CAGR in the team collaboration software market forecast period. Team collaboration software. 9.4.1 Market Trends 15.3.11 Slack Technologies LLC (Salesforce Inc.) Increasing smartphone penetration and unified communication as a service across the . Figure 53: South Korea: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Among them, the integration and implementation sub-segment would hold the largest market share in the forecast period. Complimentary 10 hours free analyst time for market review, 3. The communication & coordination section will hold the second-largest share. Looking forward to work together in the future, It has been a delightful experience working with you guys. 10.3.3.1 Market Trends China is the world's . The emergence of virtual business is enabling SMEs to use collaborative software to enhance communication across businesses. The market for team collaboration software in North America is also anticipated to develop due to such Software's accessibility on portable devices like smartphones and tablets. Figure 76: Others: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 The outbreak of the COVID-19 epidemic prompted SMEs and large companies in the region to adopt collaboration tools to meet work from home needs. The global team collaboration software market is segmented on the basis of software type, deployment, end user. The large enterprises segment accounted for the largest market share in 2020. 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