Global Team Collaboration Software Market was valued US$ 8.40 Bn in 2017 and is expected to reach US$ 17.34 Bn by 2026, at a CAGR of 9.48% during a forecast period.
The global team collaboration software market is segmented into application, software, deployment, and region. Based on application, the team collaboration software market is classified into manufacturing, BFSI, IT & telecom, retail, healthcare, logistics & transportation, and education. On the basis of software, the team collaboration software market is categorized into conferencing, and communication & coordination. In terms of deployment, the team collaboration software market is divided into cloud, and on-premise. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Increasing internet usage, developing labor force demographics, virtualization of devices & devices, expansion of software as a service and expertise developments are estimated to further fuel the global team collaboration software market development. Associations focus on moving from a paper document focused work style to a public focused work style, which is also expected to positively influence the global team collaboration market growth in the upcoming years. Integration of predictive analytics tools and sensors with collaborative platforms can help enterprises forecast outcomes or issues and address them before they occur. Such factors are prominent to increase in need for deploying enterprise collaboration solutions in different end-use industries.
Global Team Collaboration Software Market
Sluggish adoption rate, usability and scalability concerns, lower efficiency and integration are some hurdles that may hamper collaboration software market growth. Moreover, lack of training & support, stiff competition and redesigning cloud network and lack of security may hinder industry growth.
Increasing attractiveness of several public networking web services is also anticipated to offer new opportunities for the growth of team collaboration software market in upcoming years. Team collaboration software is contributing to higher productivity, improved morale, and greater business opportunities.
Based on deployment, the on-premise segment led the market in 2017. However, the demand for on-premise solutions is estimated to decline over the forecast period owing to high initial costs and maintenance costs associated with on-premise deployments. Cloud is expected to register the highest growth during the forecast period owing to rising need for flexible office spaces.
On the basis of software, the conferencing software led the team collaboration software market in 2017. The conferencing software has transformed traditional workplace into a digital workplace by enabling real-time online communication across the organization. The industry is witnessing wide adoption of cloud-based video conferencing solution, which provides access to an enormous amount of data over the cloud.
In terms of region, North America dominated the market in 2017 followed by Europe and the Asia Pacific. In the Asia Pacific, owing to industrially emerging economies in China, Japan, South Korea, India, and Taiwan is rising the demand for global team collaboration software market.
Some of the key players in the global team collaboration software market are Microsoft, Cisco System, Citrix, Oracle, IBM, Box incorporation, Google, Intralinks Holdings Incorporations and Survey Monkey, Slack, Dropbox, and Box.
Scope of the Global Team Collaboration Software Market
Global Team Collaboration Software Market by Application
• Manufacturing
• BFSI
• IT & telecom
• Retail
• Healthcare
• Logistics & transportation
• Education
Global Team Collaboration Software Market by Software
• Conferencing
• Communication & Coordination
Global Team Collaboration Software Market by Deployment
• Cloud
• On-Premise
Global Team Collaboration Software Market by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Team Collaboration Software Market
• Microsoft
• Cisco System
• Citrix
• Oracle
• IBM
• Box incorporation
• Google
• Intralinks Holdings Incorporations and Survey Monkey
• Slack
• Dropbox
• Box
• Adobe
• Zoho
• Huddle
• Clarizen
• Avaya
• Comindware
• Audiocodes
• Metaswitch
• AT&T
• MITEL
• SABA
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