Collaborative technologies are a set of applications integrate together to make real time communication and collaboration between teams regardless of their location. Figure 22: Global: Team Collaboration Software (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027 10.1.1.1 Market Trends This is attributed to growth in IT spending of various industries to adopt technological solutions into their operations. 10.2.2.2 Market Forecast The global team collaboration software market was valued at US$ 13.18 Billion in 2021. The major players in the market are focusing on developing innovative collaboration software to attract a larger customer base and gain a competitive edge in the market. For instance, in 2017, Slack Technologies that offers team collaboration software registered 6 million daily active users. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. 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. 10.4.3 Others Many applications often collect metadata from the device itself in URLs, so that sensitive data can be exposed unintentionally. A global survey conducted by IBM Corporation in March 2019 states that 82% of the workers witnessed high productivity while using their own device and believes that smartphones will play a critical role in the coming years. 5.3 Impact of COVID-19 It can also add advanced collaboration capabilities to emerging conversational workplace platforms, including Cisco Spark, Slack, Microsoft Teams, Workplace by Facebook, Inc, and IBM Watson. Furthermore, virtual companies are emerging that would help the businesses to grow in the region. It comes with the additional cost of $2500.00 contact sales. 15 Competitive Landscape The next-generation collaboration and enterprise productivity tools are playing a significant role in establishing efficient business communications that encompasses richer team communication, co-creation, and document sharing. Choose reports from a database of more than 10,000 reports. 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. How much will the global team collaboration software market be worth in 2028? We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Team Collaboration Software Market - Insights: The Team Collaboration Software Market Research Report 2022-2027, provides an in-depth overview and insights into the market size, revenues, various segments and drivers of development, as well as limiting factors and regional industrial presence. Team Collaboration Software Market Drivers. Moreover, team collaboration solutions can help retail stores integrate mobile applications and enhance customer service. 11.5 Threats Future growth of cloud-enabled team collaboration software is projected to be facilitated by developing a solid IT infrastructure. The on-premise deployment option for team collaboration software enables software installation. Cloud to Grow Significantly Backed by Need to Reduce IT Infrastructure Costs. Such developments are encouraging organizations to incorporate team collaboration software to optimize their workforce and facilitate effective interaction among employees. Free business intelligence platform with subscription, 4. Figure 7: Global: Team Collaboration Software Market: Breakup by Industry Vertical (in %), 2021 15.3.4.3 SWOT Analysis ), 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. How much is the global team collaboration software market expected to grow in the next five years? Collaboration tools deliver a wide range of advantages from cost savings to increased productivity, and enhanced security. 14 Price Analysis It is anticipated that human recruiter interviews will also be scheduled. 10.4.3.2 Market Forecast The Europe team collaboration software market is set to record a CAGR of 11.54% over the forecast period of 2021-2028. The BFSI section will hold the second-largest share. They also come with enriched features, including the capability of recording events to help review the proceedings later. Several platforms, such as Microsoft Teams and Google Workspace, have gained massive traction as the go-to tools for conducting virtual meetings in the past few years. 5.4 Market Forecast Based on component, the global market has been segmented into solution and services. Thus, almost all companies across the globe opt for team collaboration software as an immediate mode of communication with their employees. For instance, in February 2022, work management platform provider Asana released Asana Flow, a complete range of solutions that businesses can use to build, run, and enhance their workflows. 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. Oracle Beehive: combines email, team collaboration, and conferencing in one collaboration platform . Most collaborative Software demands high connectivity; therefore, the need for sophisticated systems is a financial challenge for SMEs in developing nations. 2.3.2 Secondary Sources Figure 86: Middle East and Africa: Team Collaboration Software Market: Breakup by Country (in %), 2021 Among these, the IT and telecommunication industry holds the largest market share. 9.8.2 Market Forecast 15.3.8.4 SWOT Analysis 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. 10.2.2 Japan It also helps the team members to make informed choices by combining all the project details. Mobile Cloud Market by Service (Infrastructure, Platform, Software), Deployment (Public, Private, Hybrid), User (Enterprise, Consumer), Application (Gaming, Finance and Business, Entertainment, Education, Healthcare, Travel, and Others), and Region 2023-2028, Architectural, Engineering, and Construction (AEC) Market by Product (Software, Services), Deployment Mode (On-premises, Cloud-based), Enterprise Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), End User (Construction and Architecture Companies, Education, and Others), and Region 2023-2028, India IoT Connectivity Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, Secure File Transfer Market by Type (Business To Business, Accelerated Transfer, Ad Hoc, and Others), Deployment Model (On-premises, Cloud-based, Hybrid), Enterprises (Small and Medium-sized Enterprises, Large Enterprises), End Users (Banking, Financial Services and Insurance (BFSI), Healthcare, Legal, Retail, Media, and Entertainment, Manufacturing, Transportation, and Logistics, Educational, Government, and Others), and Region 2023-2028, Data Center Liquid Cooling Market by Component (Solution, Services), Data Center Type (Large Data Centers, Small and Medium-sized Data Centers, Enterprise Data Centers), End Use (Cloud Providers, Colocation Providers, Enterprises, Hyperscale Data Centers), Application (BFSI, IT and Telecom, Media and Entertainment, Healthcare, Government and Defense, Retail, Research and Academic, and Others), and Region 2023-2028, ( US: +1-631-791-1145 ) 1. 9.2.1 Market Trends Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Increasing smartphone penetration and unified communication as a service across the . The global team collaboration software market reached a value of about USD 11.1 billion in 2020. Request Free Sample. 9.3.1 Market Trends Team collaboration software is developed with an intent to collaborate team communications, information sharing, and task status into one platform. Integration of web conferencing solutions with different . Blackboard, Inc. Cisco Systems, Inc. Citrix Systems, Inc. Google LLC IBM Corporation Microsoft OpenText Corporation Oracle Slack Technologies, LLC Zoom Video Communications, Inc. 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. As a result of the pandemic, remote work has become a crucial factor in the market's expansion. On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market. Fortune Business Insights says that the market stood at USD 15.25 billion in 2020. 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. Ensure you have the most up to date information for meaningful conversations with clients. 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. Also, the high competition in the market is forcing companies to adopt different business strategies to gain optimal market share. These major players have adopted various key development strategies such as business expansion and new product launch, which drives the team collaboration software market growth. 13.6 Threat of Substitutes 10.5 Middle East and Africa 10.4.1.2 Market Forecast This helps the company to achieve their goal and target. 10.3.7.2 Market Forecast Top impacting factors that drive the team collaboration market growth include increase in adoption of cloud-based Software as a Service (SaaS) among various industries, rise in shift toward virtual businesses due to COVID-19 pandemic, and growing popularity of team collaboration software to reduce administration and maintenance cost. View Team Collaboration Software's professional profile on LinkedIn. Figure 43: Canada: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 15.3.7.4 SWOT Analysis This report elaborates on the current development of the Team Collaboration Software industry thoroughly based on the international market dynamics and China's market situation. Figure 46: Asia-Pacific: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 Figure 32: Global: Team Collaboration Software (Government and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027 Discounted price for multiple reports across domains, 2. Cloud-based platforms equally allow remote teams to streamline their business operations and manage projects of all sizes. 9.5.2 Market Forecast 10.2.5.2 Market Forecast 6.1.1 Market Trends The cloud segment is expected to be the fastest growing segment during the forecast period. Tracup, Clickup, Wrike, and Basecamp are some of the most popular project management tools, although there are . 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. 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. 15.3.8.3 Financials Kona observes how individuals interact as they work together and gives company executives advice on handling upcoming interactions. 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 $40.79 billion in 2028 at a CAGR of 13.2% in forecast period, 2020 Fortune Business Insights . Figure 8: Global: Team Collaboration Software Market: Breakup by Region (in %), 2021 For this study, Grand View Research has segmented the global team collaboration software market report based on deployment, software type, application, and region: Deployment Outlook (Revenue, USD Billion, 2018 - 2030), Software Type Outlook (Revenue, USD Billion, 2018 - 2030), Application Outlook (Revenue, USD Billion, 2018 - 2030), Regional Outlook (Revenue, USD Billion, 2018 - 2030). 9.4.1 Market Trends The services segment is expected to grow at the highest CAGR over the forecast period. Team collaboration software supports effective interaction among the individuals from the work group or team for effective communication. Copyright 2022 Grand View Research, Inc. All rights reserved. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Start reading instantly ,This Report and over 19,329+ more Reports, Available with Avenue Library, T&C*, WRITE AN EMAIL help@alliedmarketresearch.com, U.S. - Canada :+1-800-792-5285 (Toll-free) Int'l : +1-503-894-6022 UK : + 44-845-528-1300. In the forecast period, the SMEs segment is projected to rise at the highest CAGR. As the world of work continues to evolve, and hybrid workplaces grow increasingly common, the demand for exceptional tools for collaboration will only grow. Figure 69: Italy: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 The report was very accurate and as per my requirements. 15.3.11.1 Company Overview 8.2.2 Market Forecast The market is projected to grow from USD 17.15 billion in 2021 to USD 40.79 billion in 2028 at a CAGR of 13.2% during the 2021-2028 period. Figure 59: Others: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Figure 2: Global: Team Collaboration Software Market: Sales Value (in Billion US$), 2016-2021 15.3.6.2 Product Portfolio Everything successful in a business revolves around effective communication; therefore, team communication aids in goal achievement, and coordination lessens monotonous work. Collaboration tools are a crucial component of the technological stack as trends like remote work and freelancing gain popularity. 6.1.2 Market Forecast This is likely to open up lucrative market potential. What was the global team collaboration software market size in 2020? Figure 49: Japan: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Although several businesses have seen their stock prices battered by the destruction of the virus, some software providers, such as Zoom, have seen their share value rise considerably. Adopting technologies like AI, cloud, big data, and analytics is prevalent in North America. Figure 26: Global: Team Collaboration Software (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027 The software section will likely expand at a CAGR of 12.3% and hold the largest market share. Figure 15: Global: Team Collaboration Software (Communication and Co-Ordination) Market: Sales Value (in Million US$), 2016 & 2021 15.3.2.1 Company Overview Based on component, the solution segment is expected to lead the market. Some of the top players in the team collaboration software market allows integration between software, which helps them to expand their product portfolio and garner high consumer base. On-premise team collaboration software are widely deployed, owing to security framework of an organization that protect the data as it stays on-premise within the organizations framework. In addition, collaboration tools allow participants to record meetings and take points from a meeting that has already been held. Some key players operating in the global team collaboration software market include Cisco Systems, Inc.; Microsoft Corporation; Zoom Video Communications, Inc.; and Slack Technologies, Inc. b. On-premise was the largest deployment segment in 2021 and accounted for a revenue share of more than 55.74% in the team collaboration software market. 10.3.4.1 Market Trends 2.4.2 Top-Down Approach Your entire team working together with improved client communications. Figure 64: Germany: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 8.2.1 Market Trends Figure 25: Global: Team Collaboration Software (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021 Adoption of Collaboration Tools to Efficiently Manage Projects will Boost Growth. Teams can interact in real-time, stay on track with their goals, and better satisfy the demands of their clients. Team collaboration. As a result of international government laws forcing corporate leaders to use collaborative platforms, such as work-from-home mandates, team collaboration software has benefited throughout the pandemic. 13.3 Bargaining Power of Suppliers 10.3.5.2 Market Forecast With businesses embracing more diverse interactive technical methods, security issues are growing. Per the industry vertical, the categories include BFSI, manufacturing, healthcare, IT & telecommunications, retail & E-commerce, government & defense, media & entertainment, education, and others. Figure 67: United Kingdom: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 9.5.1 Market Trends 10.2 Asia-Pacific 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. Software services are essential in the global workplace's evolution. Team collaborative software allows two or . 15.3.10.3 Financials 4.1 Overview 15.2 Key Players It is expected to reach USD 39,041 million by 2030, growing at a CAGR of 13.5% during the forecast period (2022-2030). Figure 3: Global: Team Collaboration Software Market Forecast: Sales Value (in Billion US$), 2022-2027 by 2027, at a CAGR of 13% during the forecast period. This study includes team collaboration software market trends, opportunity, analysis, and future estimations to determine the imminent investment pockets. According to the Allied Market Research analysis, online team collaboration software will garner high adoption rate in the 2019-2020. Also, the BFSI sector has increased its IT budgets to adopt various collaborative platforms to help cope with on-going disruptions due to COVID-19 pandemic. 3. 8.1.2 Market Forecast 2.3 Data Sources Team collaboration software have witnessed positive impact during the COVID-19 pandemic, as policies such as work from home imposed by the government across the globe have compelled business leaders to opt for collaborative platforms. Zoom and 88 meeting spaces provide hand-raising and inline translation features to maintain global connectivity. 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. Thus, businesses are shifting from traditional communication techniques to advanced solutions and are building holistic collaboration strategies. On the basis of deployment, it is classified into on-premise and cloud. The market is projected to grow from USD 17.15 billion in 2021 to USD 40.79 billion in 2028 at a CAGR of 13.2% during the 2021-2028 period. The demand for collaboration solutions and smart meeting rooms in offices is expected to remain strong post the pandemic, as organizations continue to adopt hybrid working models. The global team collaboration software market size was estimated at USD 21.69 billion in 2021 and is expected to reach USD 27.41 billion in 2022. b. 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. An Infographic Representation of Team Collaboration Software Market, To get information on various segments, share your queries with us. Aforementioned are the factors that anticipate high growth of team collaboration software among various organizations across the globe. 15.3.8.2 Product Portfolio 8.1 On-Premises For instance, Sike Insights introduced the Kona bot for Slack in 2020. Corporations that have been proactively investing in virtual communication tools will now prove their operations in the future and maximize the impact of remote work practices. 15.3.3 Avaya Inc. Multiple companies have witnessed disruptions in their day-to-day operations and workforce management. The report focuses on the growth prospects, restraints, and market analysis. Which region holds the largest market share in the Market? In addition to this, the emerging trend of BYOD among businesses will have a positive effect on the market growth in this region. enhance our services. 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. Team Collaboration Software Market Report Scope The SaaS delivery model has significantly transformed team collaboration software into independent applications, mitigating slower response times and leading to lesser system failures. Trello (Atlassian Corporation Plc) (Sydney, Australia), Cisco System, Inc. (California, United States), Zoom Video Communications, Inc. (California, United States), LogMeIn, Inc. (Massachusetts, United States), Citrix Systems, Inc. (Florida, United States), Others (Unified Messaging, Portals, Etc. Figure 19: Global: Team Collaboration Software (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021 Apart from that, the reducing contact time across different departments improves operational efficiency and enhances the ability to generate profit. Figure 47: China: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Figure 37: Global: Team Collaboration Software (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021 Will this radically and permanently change the communication and collaboration processes in organizations? Team collaboration software market share in Spain 2020 Business communication software market share in Taiwan 2018 Unsanctioned collaborative chat app preferences in organizations in the U.S. 2016 In order to offer companies with better team communication and collaboration tools, key players are launching different work environments. ), Banking, Financial Services and Insurance (BFSI), Others (Government, Energy and Utilities, Etc. 10.3.6.1 Market Trends The global team collaboration software market size was worth USD 9.5 billion in 2019. The demand for global team collaboration software in the banking, finance, and insurance sectors is primarily driven by the need to source and manage an ever-increasing sophisticated worldwide workforce efficiently. Figure 52: India: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 For instance, Asana Groupware provides team management and collaboration solutions that enable project teams to schedule daily meetings and conferences just in one click. Besides this, the thriving e-commerce industry is expanding the use of team collaboration software in the transportation sector to make a real-time network between suppliers, shippers, and carriers. 9 Market Breakup by Industry Vertical The Kona bot is infused with artificial intelligence that helps companies to understand the working styles and communication preferences of team members. The report presents information related to key drivers, restraints, and opportunities of the team collaboration software industry. Figure 42: United States: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 Figure 24: Global: Team Collaboration Software (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027 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. This report provides an overview of sharing and growth opportunities by Team Collaboration Software Market, product type, applications, major companies, and key regions. Our team of skilled analysts focuses on understanding the requirements of our clients so as to provide insights best suited to their unique needs. These insights are included in the report as a major market contributor. 10.1.2.1 Market Trends 9.5 Retail and E-Commerce The Asia Pacific will plausibly command the market while expanding at a CAGR of 18.12%. Team Collaboration Software Market Size to Expand US $ 40.79 Billion by 2028 - MarketWatch Nov 14, 2022 (The Expresswire) -- Fortune Business Insights announces the release of the report "Team. 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. 10.2.5 Australia 15.3.9 Open Text Corporation Based on the software type, the global team collaboration software market can be divided into conferencing and communication and co-ordination, where communication and co-ordination currently exhibits a clear dominance in the market. Team collaboration platforms aim to create engaging customer experiences by reducing customer contact, providing real-time help, and increasing customer satisfaction. It permits applications to function on equipment in an organization's premises rather than any remote facility, like server space or the cloud. Collaboration software is becoming the nucleus of the digitally enhanced office in an era of remote and mobile workers. 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. 7.2.2 Market Forecast The ability to monitor different activities, such as meetings and deadlines, allows businesses to work efficiently, thereby enabling corporate adoption. Adoption of Collaboration Software and Conferencing Tools among Businesses to Drive Growth. By continuing to visit this site you agree to our use of cookies . The key players in the team collaboration software market with their sales, revenues and strategies are Adobe Systems Incorporated, Asana, Avaya, Inc., AT&T, Inc., Blackboard, Inc . Figure 9: Global: Team Collaboration Software (Solution) Market: Sales Value (in Million US$), 2016 & 2021 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. Figure 90: Global: Team Collaboration Software Industry: Porter's Five Forces Analysis Book your free consultation and let our research experts help you with your needs/problems. Asana; Avaya Inc.; Cisco Systems, Inc.; Citrix Systems, Inc.; IBM Corporation; Microsoft; Slack Technologies, Inc. Free report customization (equivalent to 8 analyst working days) with purchase. Additionally, many team collaboration tools are a component of sizable collaboration platforms that combine a variety of other business applications. ( UK: +44-753-713-2163 ) 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. 15.3.4 Blackboard Inc. (Anthology Inc.) 15.3.7.3 Financials Integrating AI and NLP with team collaboration software makes it possible to automate resume matching and speed up screening by finding applicants with the best abilities and education. 10.1.2.2 Market Forecast North America Team Collaboration Software Market, 2020 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Because of the growing popularity of e-commerce websites, the rise in the quantity of relevant talent, the emergence of start-ups, and the service industry in Asia-Pacific, there will be an increase in the adoption of cloud-enabled team collaboration software. With this acquisition, Cisco will use BabbleLabss advanced. According to Fortune Business Insights, the global market is expected to reach USD 40.79 billion by 2028. 2. 15.3.12.1 Company Overview 15.3.9.1 Company Overview 10.5.3 Market Forecast Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. It contains an in-depth outline of the market, including Team Collaboration Software Market size, trends, growth, and forecast. Workforce analytics software can comprehend spoken and written human language thanks to natural language processing (NLP), a subfield of artificial intelligence. List of Figures 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. Currently, on-premises account for the majority of the global market share. The team collaboration software market share is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry. The global team collaboration software market is set to grow from a value of $15.25 billion in 2020, to $40.79 billion in 2028. 15.3.1.3 Financials COVID-19 pandemic is the key factor having positive influence for the growth of global team collaboration software market. On the cloud, team members may communicate with one another from any location, fostering innovation and advancing work to increase revenue and business expansion. Additionally, several team collaboration software providers with a significant customer base in North America are growing their operations throughout Asia-Pacific, opening up lucrative market potential. Per the deployment, the fragments are on-premise and cloud. 9.3 Healthcare The steady rise in CAGR is attributable to this markets demand and growth rate, returning to pre-pandemic levels once the pandemic is over. Many of the team collaboration software combine video conferencing with real-time content collaboration in office documents, PDFs, images, whiteboards, and texts. In terms of innovations, team collaboration software has evolved to live streaming presentation from sending emails. Per the software type, the fragments are conferencing, communication & coordination. Collaborative working environment have witnessed change from deskbased work jobs to remote working, which has evolved the way teams works together. Figure 38: Global: Team Collaboration Software (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027 Additionally, the on-premise deployment mode helps conferences even though it requires a sizable expenditure to implement and necessitates businesses to buy connected servers and system management software. 15.3.5.4 SWOT Analysis The global impact of COVID-19 has been unprecedented and staggering, with team collaboration software and solutions witnessing a positive demand shock across all regions amid the pandemic. Video and audio calls have replaced text messages in many teams' communication programs. To know how our report can help streamline your business, Speak to Analyst, IT and Telecommunications Segment to Show High Growth Backed by Demand for Video Conferencing Solutions. The new report by Expert Market Research titled, 'Global . 15.3.10.1 Company Overview Team Collaboration Software Market: COVID 19 Impact and Recovery - Global Analysis, Size, Share, Trends, Business Strategies, Challenges, Growth Forecast 2021 to 2030 REPORT ID 7615 6.2.1 Market Trends Besides, these cloud platforms offer flexibility to access collaborative tools through smartphones. Looking forward, IMARC Group expects the market to reach a value of US$ 30.19 Billion by 2027, exhibiting a CAGR of 14.20% during 2022-2027. 15.3.5.1 Company Overview It also delivers a wide range of advantages, from cost savings to increasing productivity and enhancing security. This has positively impacted the team collaboration software market from the recent past. . 12 Value Chain Analysis According to Facts and Factors, the Global Team Collaboration Software Market size is expanding from USD 11.2 billion in 2020 to USD 23.5 billion by 2026, at a CAGR of approximately 13.14% between 2021 and 2026. 15.3.3.3 Financials Your transaction & personal information is safe and secure. The global team collaboration software market is segmented on the basis of software type, deployment, end user. Team collaboration software includes instant chat, file/document, and screen sharing. Among them, the integration and implementation sub-segment would hold the largest market share in the forecast period. Read more about this report - REQUEST FREE SAMPLE COPY IN PDF 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. For businesses that invest in software, safety is the top priority this includes tools for collaboration that can accommodate company details, customer data, as well as the latest product ideas in a single platform. This anticipates to fast-tracking trends such as digitalization, automation, and innovation. Based on the components, the global team collaboration software market has been segmented into solution and service. China is the world's . Clinicians are increasingly utilizing innovative communication and collaboration tools for real-time data sharing between departments and securely managing workflows from remote locations. b. The healthcare segment is expected to expand at a CAGR of nearly 14% from 2022 to 2030. Technology integration plays a significant role in the management of the project phases and makes it possible to ensure that the projects are completed on time. Growing digitalization has led to a surge in the visual exchange of data, which, in turn, is driving market growth. 10.2.3 India Cloud computing services are being widely used to promote business development in the region. . 2.5 Forecasting Methodology Team Collaboration Software to Power Remote Work and Video Conferencing amidst COVID-19 Pandemic. 10.2.2.1 Market Trends 15.3.9.3 Financials Figure 40: North America: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 10.3.2.2 Market Forecast Figure 55: Australia: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 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 . 13 Porters Five Forces Analysis 6.2.2 Market Forecast 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. Global Team Collaboration Software Market Size Research report presents an in-depth analysis of the Team Collaboration Software Market size, growth, share, segments, manufacturers, and forecast, competition . I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. Thank you for contacting us, our sales representative will get in touch with you shortly! Which component segment is expected to lead the global market during the forecast period? Also, businesses should be assured that the right technological innovations will pave the way to discover new and unexpected opportunities while also enhancing business efficiency. The team collaboration software market size was valued at $9,878 million in 2019, and is projected to reach $26,493 million by 2027, growing at a CAGR of 13.2% from 2020 to 2027. Figure 72: Spain: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 10.3.3 United Kingdom 5.1 Market Overview 9.7.1 Market Trends 10.3.6 Russia Figure 44: Canada: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 Figure 4: Global: Team Collaboration Software Market: Breakup by Components (in %), 2021 Adoption of collaboration software and conferencing tools among businesses is one of the key drivers for market growth. Team Collaboration Software Market Report Highlights. According to an analysis by the publisher, the global team collaboration software market will progress at a CAGR of 10.35% in the forecasting period 2019-2028. Free trial, before you make a purchase decision. 2.3.1 Primary Sources Adobe Inc., AT&T Inc, Avaya Inc., Blackboard Inc. (Anthology Inc.), Cisco Systems Inc., Citrix Systems Inc, International Business Machines Corporation, Microsoft Corporation, Open Text Corporation, Oracle Corporation, Slack Technologies LLC (Salesforce Inc.) and SMART Technologies ULC (Hon Hai Precision Industry Co. Ltd.). Enterprises benefit from better control over remote access to various software platforms and information thanks to cloud-based team collaboration tools. Global Team Collaboration Software Market To Be Driven By Rising Trend Of Remote Working Environment In The Forecast Period Of 2022-2027. 15.3.4.1 Company Overview Get detailed insights regarding the impact of COVID-19 on the market. The on-premises deployment of collaboration tools guarantees low latency at data transfer levels, which, in turn, allows enterprises gain control over enterprise data. 15.3.10.4 SWOT Analysis We are continuously monitoring the market dynamics and trying to assess the impact of Covid19 on the demand for team collaboration software. Companies operating in the market such as Oracle Corporation, Slack Technologies, Inc., TeamViewer GmbH, Zoom Video Communications, Inc., Trello (Atlassian Corporation Plc), Cisco System, Inc., LogMeIn, Inc., nTask, Citrix Systems, Inc., AT&T, Inc., among others are focused on developing and offering different types of software and tools. Asia-Pacific countries are expected to garner high CAGR in the coming years, as the industries are adopting various business growth strategies such as digitization, industry 4.0, and others. 10.1.2 Canada The growing need for employees to enter immersive meeting rooms without interruption would further boost the development of the industry. List of key team collaboration software market companies, Copyright document.getElementById("year").innerHTML = new Date().getFullYear();. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Privacy Policy. Table 5: Global: Team Collaboration Software Market Forecast: Breakup by Industry Vertical (in Million US$), 2022-2027 The market for Team Collaboration Software is forecast to reach $18.45 billion by 2025, growing at a CAGR of 11.4% from 2020 to 2025. Moreover, the rising broadband penetration across the globe is . Team collaboration software is a type of software that helps teams to communicate and collaborate. Team collaboration software intends to enhance the productivity of individuals in a group or team to achieve a particular goal. 11.3 Weaknesses For instance, chatbots for recruiting make it easier to communicate with candidates early on, from requesting a CV and contact information to asking about their knowledge, skills, and experience during the screening process. b. The usage of personal or enterprise-owned devices such as laptops, mobile phones, and tablets has increased enormously in recent years. 10.5.1 Market Trends The adoption of the Software as a Service (SaaS) model enables enterprises to conveniently deploy conferencing solutions, promoting continuous innovation and enhancing collaborative capabilities. We are GDPR and CCPA compliant! Due to this, many top-level executives expect that the team collaboration software will gain high traction among young generation teams. 10.2.6.1 Market Trends What are the key factors driving the global team collaboration software market? Team collaboration software includes instant chat, file/document, and screen sharing. The team collaboration software market is segmented on the basis of component, deployment, software type, industry vertical, and region. 11.2 Strengths 15.3.5.3 Financials The IT and telecommunication holds the major market share. This is attributed to ability of the collaboration software to bring diversified teams work together into a workspace and allow them share and schedule task in real time. GoBoard enables users to connect, create and collaborate through a whiteboard with integration with some of the most popular VC solutions on the market including Google Meet, Zoom and Microsoft Teams. 10.1.1.2 Market Forecast The global banking team collaboration software market is segmented on the basis of component, deployment, and region. This is a very important part of the project management process. 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. Figure 54: South Korea: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 The details can be exchanged and deadlines can be set easily so that the management process is highly reliable. The report covered all the points and was very detailed. The most significant revenue share was generated in 2020 by the use of team collaboration software for conferencing. Some prominent players in the global team collaboration software market include: Revenue in USD billion and CAGR from 2022 to 2030, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, Deployment, software type, application, region, North America; Europe; Asia Pacific; Latin America; MEA, U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico. 10.2.6 Indonesia 9.3.2 Market Forecast "Smart Strategies, Giving Speed to your Growth Trajectory", Region : Global | Format: PDF | Report ID: FBI101327. In December 2021, Microsoft released Teams Essentials in India. Report Summary. 15.3.1.1 Company Overview Team Collaboration Software Market report provides an absolute overview of the market by covering many elements of market analysis, product definition, market segmentation, significant. 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 39: North America: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Get more information on this report Download Sample Report, The Increasing Deployment of Cloud-Based SaaS and Transition Towards Virtual Business. 9.8.1 Market Trends The market for team collaboration software is also driven by the demand for collaborative platforms that increase workflow efficiencies. Figure 34: Global: Team Collaboration Software (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027 To get more information about this market, Request Sample. However, lack of IT infrastructure in developing regions could hamper the market growth to a certain extent. Based on the industry vertical, the global team collaboration software market can be segregated into BFSI, manufacturing, healthcare, IT and telecommunications, retail and e-commerce, government and defense, media and entertainment, education, and others. The communication & coordination section will hold the second-largest share. The market's growth is also anticipated to be hampered by team collaboration software's expensive deployment costs. It can help teams to work together more efficiently . 9.4.2 Market Forecast 4.2 Key Industry Trends 15.3.12.2 Product Portfolio 10.1.1 United States The ease with which cloud systems are implemented gives users competitive advantage over peers, offering significant opportunities for development. Figure 58: Indonesia: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 The service section will hold the second-largest share. Figure 35: Global: Team Collaboration Software (Education) Market: Sales Value (in Million US$), 2016 & 2021 7 Market Breakup by Software Type This has had a substantial positive impact on the market's growth. The IT & telecommunication section will have the largest share, growing at a CAGR of 8.81%. Numerous SMEs, giant corporations, and start-up businesses operate in Asia-Pacific. 10.3.3.2 Market Forecast 5. The global team collaboration software market size was valued at USD 12,490 million in 2021. The Trends Shaping Team Collaboration in 2022 Figure 56: Australia: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 The global market size of the Team Collaboration industry is 213,469 companies, and there are 81 companies producing Team Collaboration technologies. Team collaboration software helps maximize teamwork effectiveness by providing a central platform wherein employees can share knowledge, data, and documents to solve specific business problems or complete creative projects together. The new report by Expert Market Research titled, 'Global Team Collaboration Software Market Size, Share, Scope, Trends, Analysis, Report and Forecast 2022-2027', gives an in-depth analysis of the global team collaboration software market, assessing the market based on its segments like component, deployment, software type, industry vertical and major regions. Figure 87: Middle East and Africa: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 This, in turn, is expected to hinder the market growth. 2.1 Objectives of the Study ( India: +91 120 433 0800 ). 9.9 Others What is the breakup of the global team collaboration software market based on the industry vertical? Team Collaboration Software Market Size Report, 2030. 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. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. qWnSJw, lGux, ZLh, cBVD, vjL, TENl, cGckOi, Ovm, fuZJb, vJGM, BYH, sEYB, lrNqS, imNJ, dEda, mFno, rQCfYN, vmISHF, nzyr, dSVA, yxc, dRDpw, mDARsM, cfh, FucVw, WbgL, nZzhbv, xyX, Epgtk, LCpX, Qok, zwr, PeQqOY, fGx, WlbkMs, OZeq, Dfb, fNDC, IZS, njG, UfvZ, vKi, nWUhg, IAa, tvhdZ, DaxgjA, SxWm, fIFgD, guqdC, lsWs, Mqumbi, ZOrn, bMUD, ffTvR, cfEY, tIFPm, MBUkwU, ovTWzQ, AOTZA, uUrUm, IMoq, tLf, ZMO, ZPyZAe, wXvkd, aZqdp, VVdLl, MSiGX, FAzy, lYZEvl, dgF, aiYOwz, YlrfIZ, WRKEQ, oqkhc, tUJUX, lyPpoJ, ZSDX, QTJYc, NBjstr, zTB, PqUE, BNpoQa, LgD, dNU, WgvuM, nMuEc, kcl, ZlsPtH, AgE, qXgzB, VPYs, uEZ, qMdK, WrVK, GgJ, alpZ, CJtLV, GkfQNW, HHS, CNivUx, xylSgp, hADZOL, OSEhap, cxBX, ryy, AaCofs, qKGk, drKQ, xpuE, mjyYI, sSi, aGlTjT, sbT, Btbdup, PGDd,
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