MarketsandMarkets forecasts the global Enterprise Collaboration Market size to grow from USD 47.2 billion in 2021 to USD 85.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 12.7% during the forecast period. Enterprise collaboration tools that utilize cloud services store all files and important information in a centralized location. Cloud services enable syncing all the changes made in real-time to enhance collaboration in organizations. Hence, organizations are spending more toward the adoption of cloud services.
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By Component, the Solutions segment to hold the larger market size during the forecast period
The Equipment segment of the Mobile and wireless backhaul Market is projected to hold the larger market size in 2021. The enterprise collaboration market consists of solutions that increase knowledge sharing among employees and enhance productivity for organizations. The solutions segment is further classified into seven sub-segments, namely enterprise video, unified messaging, enterprise social network, portals and intranet platforms, file sharing and synchronization, project management, and analytics and business process management.
By Solutions, the Enterprise Video segment to record the highest market size in 2021
Under the Solutions segment, the Enterprise Video Services segment is expected to dominate the market during the forecast period. Enterprise video solutions boost enterprise communication with real-time information sharing capabilities by reducing travel costs. These solutions enable internal and external users of an organization to interact with each other through audio, video, and web.
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Unique Features in the Enterprise Collaboration Market
Combining many lines of communication—including voice calls, video conferences, file sharing, and messaging—into one cohesive platform. Teams are able to work together regardless of physical location because to this seamless communication and collaboration feature.
Systems specifically designed for team collaboration that centralise document sharing, project management, and communication. Chat, channels, task management, and connectivity with additional corporate tools are common features.
Quick decision-making and effective teamwork are facilitated by real-time collaboration tools including co-editing documents, live chat, and instant messaging.
Enhanced video conferencing features, such as screen sharing, virtual meeting rooms, and high definition video. Solutions for virtual meetings have become essential for dispersed and remote teams.
Collaboration while on the road using mobile-friendly UI and specialised mobile apps. The ability to access collaborative tools from a mobile device is crucial for employees and distant workers.
Major Highlights of the Enterprise Collaboration Market
Platforms for team collaboration have grown in popularity because they provide a central location for teamwork, project management, document sharing, and communication. These platforms sought to increase total output and optimise processes.
Businesses gave more thought to how collaborative technologies could improve the work experience. Prioritised were mobile accessibility, user-friendly interfaces, and elements that encourage happiness and engagement.
Popular productivity tools including office suites, file-sharing websites, and project management software are integrated with collaboration platforms. The goal of seamless integrations was to offer a single user experience.
Automating tasks and using artificial intelligence (AI) to improve collaborative platforms. Enhancing productivity and decision-making, AI-driven capabilities included predictive analytics, automated processes, and smart search.
Increased attention to compliance and security elements in collaboration platforms. Protecting sensitive data and guaranteeing regulatory compliance required the implementation of encryption, access controls, and compliance tools.
Top Key Companies in the Enterprise Collaboration Market
The key and emerging market players in the enterprise collaboration market include IBM (US), Microsoft (US), Cisco (US), Adobe (US), Google (US), Citrix (US), Slack (US), Facebook (US), Salesforce (US), Atlassian (Australia), Igloo (Canada), Jive (US), VMware (US), SAP (Germany), Mitel (Canada), RingCentral (US), TIBCO Software (US), Zoho (US), Jalios (France), Jamespot (France), Box (US), Bynder (Netherlands), Axero (US), BlueKiwi (France), Whaller (France), Dropbox (US), Kaltura (US), Asana (US), Clickup (US), and Chanty (US). These players have adopted various strategies to grow in the global enterprise collaboration market.
IBM is one of the leading providers of enterprise collaboration solutions and services. The company provides their workplace collaboration services, which improve business communication and complexities associated with collaboration services offered overcloud. Using Microsoft-based solutions and SaaS-based delivery options, IBM offers a cost-effective and secured workplace collaboration system to enhance the productivity and innovation of employees. In April 2019, IBM launched its new automation functionality for Aspera on the cloud for early access customers. These new automation capabilities served as a powerful solution for managing cloud-based workflows.
Google is another leading enterprise collaboration solutions provider. The company offers its Google Workspace which is a suite of applications to enhance productivity and collaboration for organizations. The Google Workspace plan provides solutions that help with real-time collaboration and machine intelligence to help enterprise customers work smarter. In May 2021, Google partnered with SpaceX to deliver secure global connectivity using SpaceX’s Starlink to provide high-speed connection across Google Cloud’ infrastructure. This would provide businesses with seamless and secure access to the cloud.
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