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. IMARC Group's latest research report, titled "Team Collaboration Software Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," the global team collaboration software market reached a value of US$ 13.18 Billion in 2021.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 . 10.3.5 Spain The Team Collaboration Software Market is expected to reach US $ 24.66 Bn during the forecast period at a 13% CAGR. 7.1.1 Market Trends AI can potentially increase the accuracy of voice and chat assistants and help real-time translation of messages. 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. According to the Allied Market Research analysis, online team collaboration software will garner high adoption rate in the 2019-2020. On the cloud, team members may communicate with one another from any location, fostering innovation and advancing work to increase revenue and business expansion. Teams can interact in real-time, stay on track with their goals, and better satisfy the demands of their clients. Figure 22: Global: Team Collaboration Software (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027 The ability of cloud deployment practices to reduce IT infrastructure costs and cost related to staff training is promoting the widespread adoption of this model. Fortune Business Insights says that the market stood at USD 15.25 billion in 2020. 15.3.2 AT&T Inc On the contrary, integration of advanced technologies in team collaboration software is anticipated to provide team collaboration software market opportunity. Nowadays, transparency in working environment has become the necessity to achieve maximum productivity in an organization. Team Collaboration Tools Market Size By Software Type (Conferencing Software and Communication & Coordination Software), By Deployment (On-Premise and Cloud), By Industry (BFSI, Healthcare, Retail, Transportation, and Others), Regions, Segmentation, and forecast till 2029. Such interactive collaboration systems by making communication safe and cost-effective, will not only help tackle this continuing problem, but will also increase productivity in long-term operation. 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. 10.4.3.2 Market Forecast It also delivers a wide range of advantages, from cost savings to increasing productivity and enhancing security. For instance, in February 2022, the Department of Health and Human Services (HHS) announced that it would allocate nearly USD 55 million to provide healthcare to the underserved population through virtual care technologies such as remote patient monitoring, telehealth, and digital patient tools and health information tools. As people work together, Kona checks out how they communicate and provides business leaders with insights on how to manage future interactions. This has had a substantial positive impact on the market's growth. In addition, cloud deployment guarantees operational flexibility of the remote task force to access data from any location at any time. Figure 21: Global: Team Collaboration Software (BFSI) Market: Sales Value (in Million US$), 2016 & 2021 The Covid19 pandemic has forced organizations to take a good look at the business continuity plans and assess their remote working readiness. We never share your personal data. A marketing project management software tool gives marketing teams a centralized and integrated view of their campaigns. Tracup, Clickup, Wrike, and Basecamp are some of the most popular project management tools, although there are . 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. Figure 32: Global: Team Collaboration Software (Government and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027 team collaboration software market by software type (communication, conferencing, and coordination), by deployment mode (cloud-based and on-premise based), by enterprise size (small and medium enterprise (smes), and large enterprise), by end-user (banking, financial services and insurance (bfsi), it and telecommunications, manufacturing, retail The Europe team collaboration software market is set to record a CAGR of 11.54% over the forecast period of 2021-2028. Our team of skilled analysts focuses on understanding the requirements of our clients so as to provide insights best suited to their unique needs. 10.4 Latin America Additionally, many team collaboration tools are a component of sizable collaboration platforms that combine a variety of other business applications. This segment comprises of team collaboration tools deployed on cloud environments. Team collaboration software is a type of software that helps teams to communicate and collaborate. Mid-sized institutions may use cloud-based team collaboration software because it has low maintenance requirements and does not require any upfront cash. The team collaboration software industry witnessed a spike in demand during the COVID-19 pandemic due to the introduction of policies, like work from home, across the world. Workforce analytics software can comprehend spoken and written human language thanks to natural language processing (NLP), a subfield of artificial intelligence. The global team collaboration software market size was valued at USD 21.69 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2030. Figure 34: Global: Team Collaboration Software (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027 Additionally, a lack of qualified and technical people to implement or operate sophisticated team collaboration tools is anticipated to restrain market expansion. Many applications often collect metadata from the device itself in URLs, so that sensitive data can be exposed unintentionally. However, lack of IT infrastructure in developing regions could hamper the market growth to a certain extent. The conferencing software segment is expected to witness the fastest growth rate of over 10.0% from 2022 to 2030. 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. Team Collaboration Software Market Size Report, 2030. 6.1.2 Market Forecast Such developments are encouraging organizations to incorporate team collaboration software to optimize their workforce and facilitate effective interaction among employees. The adoption of unified communication solutions by IT companies to promote efficient communication and cooperation is set to boost the growth of this segment. Avail customized purchase options to meet your exact research needs. 6.2.2 Market Forecast The report will account for Covid-19 as a key market contributor. 10.3.1 Germany 9.8.1 Market Trends This is attributed to growth in IT spending of various industries to adopt technological solutions into their operations. 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. This has positively impacted the team collaboration software market from the recent past. Figure 23: Global: Team Collaboration Software (Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021 10.3.3.2 Market Forecast The global team collaboration software market size is anticipated to reach USD 56.67 billion by 2030, exhibiting a CAGR of 9.5% during the forecast period, according to a new report published by Grand View Research, Inc. Due to its dominance in the software industry, the IT and telecoms sector has boosted the usage of collaboration technology. For instance, in July 2020, Kona bot for Slack was launched by Sike Insights. Team Collaboration Software Market Overview 2022, Marketing Strategy and In-Depth Analysis Report by 2030 The global Team Collaboration Software Market Size Is Expected To Reach USD 26.24 Billion By 2028., at a CAGR of 12.7% during the forecast period. Figure 19: Global: Team Collaboration Software (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021 15.3.9.2 Product Portfolio All rights Reserved By Straits Research, Eligible for a free updated report next year. Table 7: Global: Team Collaboration Software Market: Competitive Structure 15.3.6.3 Financials 15.3.8.4 SWOT Analysis 9.7.1 Market Trends Many regional companies have now adopted cloud-based Team Collaboration Software to boost worker productivity and company success. In addition to the factors mentioned above, the report encompasses several key factors that have contributed to the market's growth over recent years. 10.4.1 Brazil 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. Zoom and 88 meeting spaces provide hand-raising and inline translation features to maintain global connectivity. 1. 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. Businesses are increasing their IT expenditures as a result of enhanced security measures such as data encryption and access to end-to-end transfers, which is expected to have a favorable influence on the market in the area. Free business intelligence platform with subscription, 4. This is likely to open up lucrative market potential. 9.5 Retail and E-Commerce Growing digitalization has led to a surge in the visual exchange of data, which, in turn, is driving market growth. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Figure 27: Global: Team Collaboration Software (IT and Telecommunications) Market: Sales Value (in Million US$), 2016 & 2021 The healthcare segment is expected to expand at a CAGR of nearly 14% from 2022 to 2030. 10.2.3.1 Market Trends Major Players to Focus on Mergers to Cater towards Rising Demand among Consumers. According to a Facts and Factors market research report, the global team collaboration software market was USD 11.2 Billion in 2020; further, this revenue is expected to reach around USD 23.5 Billion by the end of 2026, increasing at a CAGR of around 13.14% from 2021 to 2026.. Thank you for requesting a call back, our sales representative will get in touch with you shortly! 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. The growth of the region is mainly owing to the technological advancements and stable economic growth. The report presents information related to key drivers, restraints, and opportunities of the team collaboration software industry. Trends such as remote working and freelancing has proliferated the demand for team collaboration software from the recent past. 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. 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. Table of Contents. Team Collaboration Tools Market Size By Software Type (Conferencing Software and Communication & Coordination Software), By Deployment (On-Premise and Cloud), By Industry (BFSI, Healthcare, Retail . The Asia Pacific will plausibly command the market while expanding at a CAGR of 18.12%. Remarkable job and great efforts by your research team. Furthermore, the growing focus of health firms on delivering better patient care while reducing costs is driving the demand for team collaboration software to enable health workers in communicating and coordinating using mobile or desktop devices. Which region holds the largest market share in the Market? 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. market or audience, allowing you to improve the . 5.3 Impact of COVID-19 Pune India, Dec. 09, 2022 (GLOBE NEWSWIRE) The market has been studied for the below-mentioned segmentation and . All rights reserved. 5.2 Market Performance Modern and creative technology makes seamless collaboration among employees easier and more profitable, stimulates innovation, and provides companies with a competitive edge. 10 Market Breakup by Region The likelihood that someone will miss an important update is decreased thanks to collaboration technologies, which enable team members to keep in closer contact throughout a project. The Team Collaboration Software market in the U.S. is estimated at US$2.2 Billion in the year 2020. The global team collaboration software market reached a value of about USD 11.1 billion in 2020. People can communicate in real-time using team collaboration software as a tool or platform. The increasing need for team collaboration to increase business productivity and digitization is impacting market growth. To mitigate the poor revenue growth, most industries sought technological solutions. The details can be exchanged and deadlines can be set easily so that the management process is highly reliable. Pune, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The global Team Collaboration Software market size was valued at USD 12327.92 million in 2021 and is expected to expand at a CAGR of 9.52% during the forecast period, reaching USD 21271.52 million by 2027. 10.5 Middle East and Africa 10.1.2.1 Market Trends The cloud segment is expected to dominate the market and expand at a CAGR of nearly 14.0% during the forecast period. Future growth of cloud-enabled team collaboration software is projected to be facilitated by developing a solid IT infrastructure. These programs are widely utilized in almost all businesses to assist employees in separating work-related conversations from personal chats, which increases productivity and enables an organization to run openly. Figure 9: Global: Team Collaboration Software (Solution) Market: Sales Value (in Million US$), 2016 & 2021 The retail segment is estimated to record a valuation of over USD 13.0 billion by 2030, owing to the increasing demand for comprehensive collaboration software for real-time data sharing, employee engagement, and the exchange of news, feedback, and ideas. These insights are included in the report as a major market contributor. The global market is expected to showcase exponential growth in upcoming years and is expected to register a CAGR of 13.2% during the forecast period (2021-2028). Multiple companies have witnessed disruptions in their day-to-day operations and workforce management. How much will the global team collaboration software market be worth in 2028? 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. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. Figure 30: Global: Team Collaboration Software (Retail and E-Commerce) Market Forecast: Sales Value (in Million US$), 2022-2027 Table 5: Global: Team Collaboration Software Market Forecast: Breakup by Industry Vertical (in Million US$), 2022-2027 Based on enterprise size, the global market is segmented into large enterprises and SMEs. 15.3.10.4 SWOT Analysis 15.3.11.1 Company Overview 13.2 Bargaining Power of Buyers Figure 25: Global: Team Collaboration Software (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021 Figure 6: Global: Team Collaboration Software Market: Breakup by Deployment (in %), 2021 10.1.1.2 Market Forecast SaaS-based solutions saw significant adoption in 20192020 due to the disruption of daily business operations caused by the coronavirus. 10.1.2.2 Market Forecast 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. Services By Deployment Cloud On-Premises By Enterprise Size Small & Medium-sized Enterprises (SMEs) Large Enterprises By End-User Collaboration software is a broad phrase that refers to a variety of software . 8.2 Cloud-based Organizations in the region are showcasing lucrative growth in the adoption of collaboration and enterprise communications tools for internal team communications and for efficiently carrying out project activities. Moreover, smart offices witnessed high productivity, owing to collaborative platforms which in turn supported the growth of the market. The cloud segment is expected to be the fastest growing segment during the forecast period. According to a report released by the U.S. BUREAU OF LABOR STATISTICS, social distancing has been one of the key public responses to the global COVID-19 pandemic. These solutions have enabled the digital transformation of workplaces by facilitating enterprise-wide, real-time, and online communication. In the forecast period, the SMEs segment is projected to rise at the highest CAGR. The team collaboration software market share is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry. All Rights Reserved. Video and audio calls have replaced text messages in many teams' communication programs. 13.1 Overview 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. Collaborative working environment have witnessed change from deskbased work jobs to remote working, which has evolved the way teams works together. Team collaboration software market is expected to grow at a significant rate during the forecast period 2019-2025. 10.2.6.1 Market Trends 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 10.2.2 Japan 15.3.4.2 Product Portfolio 10.4.1.1 Market Trends They also come with enriched features, including the capability of recording events to help review the proceedings later. The global team collaboration software market size was USD 15.25 billion in 2020. 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. 15.3.12.2 Product Portfolio Request a Free sample to learn more about this report. The healthcare sector is expected to witness exponential adoption of collaboration tools and will grow at highest CAGR over the forecast period. The IT & telecommunication section will have the largest share, growing at a CAGR of 8.81%. 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. Figure 45: Asia-Pacific: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Figure 5: Global: Team Collaboration Software Market: Breakup by Software Type (in %), 2021 10.4.1.2 Market Forecast The BOYD trend is allowing employees to access different enterprise resources remotely. This site uses cookies (including third-party cookies) to record users preferences which help us to 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. . Furthermore, North America dominates the team collaboration software market in 2019, owing to high number of players operating in the region. This report provides an overview of sharing and growth opportunities by Team Collaboration Software Market, product type, applications, major companies, and key regions. 15.3.7 International Business Machines Corporation Team Collaboration Software Market Report Highlights. The market for Team Collaboration Software is forecast to reach $18.45 billion by 2025, growing at a CAGR of 11.4% from 2020 to 2025. 5 Global Team Collaboration Software Market With this acquisition, Cisco will use BabbleLabss advanced. Figure 10: Global: Team Collaboration Software (Solution) Market Forecast: Sales Value (in Million US$), 2022-2027 The 2D virtual space allows users to move around an avatar and communicate with sponsors, exhibitors, or other users. 10.2.6 Indonesia 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. 6. Figure 4: Global: Team Collaboration Software Market: Breakup by Components (in %), 2021 Team collaboration software supports effective interaction among the individuals from the work group or team for effective communication. 10.1.1.1 Market Trends 4.2 Key Industry Trends The usage of personal or enterprise-owned devices such as laptops, mobile phones, and tablets has increased enormously in recent years. Figure 90: Global: Team Collaboration Software Industry: Porter's Five Forces Analysis Figure 66: France: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 This software enables the sharing, processing, and management of documents and other data types among several users or systems. Many collaborative platform players helped these industries to deal . 15.3.3.4 SWOT Analysis 6. The global team collaboration software market is set to grow from a value of $15.25 billion in 2020, to $40.79 billion in 2028. 15.3.6 Citrix Systems Inc However, a lack of IT infrastructure in emerging nations may impede market expansion. 15.3.12.1 Company Overview Table 8: Global: Team Collaboration Software Market: Key Players, Note: We value your privacy and will never rent or sell your email address. Team Collaboration Software Market Size And Forecast Team Collaboration Software Market was valued at USD 12.98 Billion in 2020 and is projected to reach USD 34.46 Billion by 2028, growing at a CAGR of 12.90% from 2021 to 2028. Moreover, the rising broadband penetration across the globe is . b. 10.4.2 Mexico The artificial intelligence built into the Kona bot enables businesses better to understand team members' preferred communication and working methods. 15.3.5.3 Financials Which deployment segment led the team collaboration software market? Thus, adoption of advanced technologies such as Machine Learning (ML), Artificial Intelligence (AI), and others have enabled businesses to efficiently manage communication and collaboration between teams. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Figure 44: Canada: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 15.3.3.3 Financials 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. 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 2.5 Forecasting Methodology Enterprises benefit from better control over remote access to various software platforms and information thanks to cloud-based team collaboration tools. Online workspaces made possible by collaborative technology enable company employees to share documents and data. Due to this, many top-level executives expect that the team collaboration software will gain high traction among young generation teams. 15.3.10.1 Company Overview The team collaboration software market is growing due to the favorable effects of such service diversification. 15.3.5 Cisco Systems Inc. Team collaboration. 10.4.3 Others The segment covers the team collaboration software adopted by IT and telecom companies. The Team Collaboration Software Market Report Contains Full TOC, Tables & Figures, and Chart with In-depth Analysis Pre and Post COVID-19 Market Outbreak Impact Analysis and Situation by. 10.2.4 South Korea Based on component, the global market has been segmented into solution and services. 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. 9.1.1 Market Trends IMARC offers market research reports and consulting services to clients consisting of, but not limited to, SMEs and Fortune 500 companies. Team collaborative software allows two or . Thus, many business leaders opt for solutions that work to facilitate teamwork and increase transparency to gain per employee performance. For instance, in 2017, Slack Technologies that offers team collaboration software registered 6 million daily active users. In addition, collaboration tools allow participants to record meetings and take points from a meeting that has already been held. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. It focuses on key aspects such as leading companies, product Industry, and leading product applications. 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. 10.2.1 China 1. It is also known as collaborative software, online collaboration software, and groupware. 10.2.1.2 Market Forecast It is anticipated that human recruiter interviews will also be scheduled. 2.4.1 Bottom-Up Approach 10.2.5.1 Market Trends The BFSI section will hold the second-largest share. The market for team collaboration is constrained by legacy infrastructure since scaling current infrastructures costs money. 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. 5. 6.2.1 Market Trends 6.1.1 Market Trends Team collaboration software includes instant chat, file/document, and screen sharing. Accounting client management software which allows you to track all client activities across your practice. 15.3.9.4 SWOT Analysis See for yourself. Effective contact between teams enables the development of content for internal and external audiences, for production and publishing. Keep tabs on the evolution of the team collaboration market and learn how to evaluate the leading team collaboration tools. Software for team collaboration enables cross-continental team cooperation, promoting organizational communication transparency. 10.3.4.1 Market Trends 11.5 Threats 15.3.4 Blackboard Inc. (Anthology Inc.) Figure 47: China: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 The new report by Expert Market Research titled, 'Global Team Collaboration Software Market Size, Share, Scope, Trends, Analysis, Report and Forecast 2022-2027', gives an in-depth analysis of the global team collaboration software market, assessing the market based on its segments like component, deployment, software type, industry vertical and major regions. 8.1.1 Market Trends According to Facts and Factors, the Global Team Collaboration Software Market size is expanding from USD 11.2 billion in 2020 to USD 23.5 billion by 2026, at a CAGR of approximately 13.14% between 2021 and 2026. Team collaboration platforms aim to create engaging customer experiences by reducing customer contact, providing real-time help, and increasing customer satisfaction. Team Collaboration Software Market report provides an absolute overview of the market by covering many elements of market analysis, product definition, market segmentation, significant. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. 9.4.1 Market Trends 9.3.2 Market Forecast Leading market players are introducing new solutions to encourage active collaboration and employee engagement. 8 Market Breakup by Deployment Pune, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The global Team Collaboration Software market size was valued at USD 12327.92 million in 2021 and is expected to expand at a CAGR of 9.52% during the . Figure 7: Global: Team Collaboration Software Market: Breakup by Industry Vertical (in %), 2021 In addition, the increased demand among companies for video conferencing solutions to promote the sharing of information is also an important driver of the growth of the segment. What is the breakup of the global team collaboration software market based on deployment? Figure 75: Others: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 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. Among these, the IT and telecommunication industry holds the largest market share. Report Summary. Porters five forces analysis illustrates the potency of the buyers & suppliers in the team collaboration software market. Figure 85: Middle East and Africa: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 LinkedIn is the world's largest business network, helping professionals like Team Collaboration Software discover inside connections to recommended job candidates, industry experts, and business partners. 28-Sep-2021 | Facts and Factors. In this COVID-19 pandemic companies are focusing toward innovations through collaboration. This growth is mainly due to the rising demand for visual meetings in all the international companies, along with a growing knowledge of the advantages of team collaboration software among businesses. 10.3.1.2 Market Forecast Among them, the integration and implementation sub-segment would hold the largest market share in the forecast period. Bring-Your-Own-Device (BYOD) Trend to Bring Substantial Enterprise Benefits and Enhance Productivity. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. Increasing smartphone penetration and unified communication as a service across the . Figure 83: Others: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 10.3 Europe 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. Figure 43: Canada: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Some of the advance features such as white boarding, screen sharing, multi-presenter, and others have proliferated high awareness for the need for team collaboration software as a day-to-day operation in an organization. Multiple companies have witnessed disruptions in their day-to-day operations and workforce management. Cloud-based team collaboration software which allows teams to collaborate and share information in real-time. Some hackers are able to reach corporate websites simply by following the standard web-based protocols. The global team collaboration software market size was estimated at USD 21.69 billion in 2021 and is expected to reach USD 27.41 billion in 2022. b. +91 780-304-0404. The main element influencing Communication and Coordination and certain large-scale enterprises to use cloud-based team collaboration software models is a paradigm shift in deployment methods from on-premise to cloud-based models. Many collaborative platform players helped industries to cope in their disrupted business. Figure 38: Global: Team Collaboration Software (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027 It comes with the additional cost of $2500.00 contact sales. Many of the team collaboration software combine video conferencing with real-time content collaboration in office documents, PDFs, images, whiteboards, and texts. Additionally, organizations utilize team collaboration software primarily to increase efficiency among staff members who don't always share office space and operate in different offices. Additionally, the on-premise deployment mode helps conferences even though it requires a sizable expenditure to implement and necessitates businesses to buy connected servers and system management software. 10.3.7.1 Market Trends Diversified teams in terms of skills or geographically, needs to communicate, manage, coordinate together to collectively achieve an organizations goal. By Component; Deployment; Enterprise Size; End-User and Region. The Trends Shaping Team Collaboration in 2022 To stay competitive in the market, companies in North America have implemented team collaboration software. PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request). Addition or alteration to country, regional & segment scope. Your entire team working together with improved client communications. 2022 Allied Market Research. 10.3.6.2 Market Forecast 10.3.4.2 Market Forecast The trend for digitization in banking among employees in order to increase their production efficiency would provide an impetus for business growth. Players are innovating collaborative tools for high adoption rates. For more details, please read our privacy policy. In order to offer companies with better team communication and collaboration tools, key players are launching different work environments. The report covered all the points and was very detailed. Figure 69: Italy: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 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. 15.3.5.1 Company Overview Geographically, the market is segmented across five major regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The team collaboration software market is segmented on the basis of component, deployment, software type, industry vertical, and region. 15.3.7.2 Product Portfolio Also, the high competition in the market is forcing companies to adopt different business strategies to gain optimal market share. 9.8 Education Figure 87: Middle East and Africa: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 5.1 Market Overview 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. On the basis of software types, the global team collaboration software market is fragmented as communication & coordination and conferencing. 7.1.2 Market Forecast Read more about this report - REQUEST FREE SAMPLE COPY IN PDF 9.5.1 Market Trends 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. 11.3 Weaknesses Based on the deployment, the global team collaboration software market has been categorized into on-premises and cloud-based. Apart from that, the reducing contact time across different departments improves operational efficiency and enhances the ability to generate profit. 7 Market Breakup by Software Type 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. The crisis is expected to increase the demand for team collaboration software in order to support the workforce. 10.3.2 France 15.3.1 Adobe Inc. 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. 15.3.8 Microsoft Corporation 15.3.3 Avaya Inc. Figure 89: Global: Team Collaboration Software Industry: Value Chain Analysis 10.2.3 India Collaborative technologies have created online workspace that helps an organizations employees to share data and documents. This study includes team collaboration software market trends, opportunity, analysis, and future estimations to determine the imminent investment pockets. The IT and telecommunications segment had the largest market share in 2020. Figure 84: Others: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 These tools allow virtual teams to work together across geographies, functions, and organizations to boost efficiency and innovation. Business and human resource (HR) goals are synchronized by BFSI organizations using team collaboration software through collaboration analytics, which gauges employee productivity and values. Collaboration tools deliver a wide range of advantages from cost savings to increased productivity, and enhanced security. It permits applications to function on equipment in an organization's premises rather than any remote facility, like server space or the cloud. The usage of team collaboration software is thereby expected to showcase an exponential growth during the forecast period. Based on component, the solution segment is expected to lead the market. The market for team collaboration software is also driven by the demand for collaborative platforms that increase workflow efficiencies. Collaboration software is becoming the nucleus of the digitally enhanced office in an era of remote and mobile workers. Figure 74: Russia: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 Also, due to the improving government initiatives such as Make in India and Startup India and the 2018 immigration bill adopted in Japan would aid growth. This growth is due to the increasing digitalization of small and medium-sized enterprises. As a result of the pandemic, remote work has become a crucial factor in the market's expansion. Segmentation. The Kona bot is infused with artificial intelligence that helps companies to understand the working styles and communication preferences of team members. The COVID-19 pandemic has played a crucial role in promoting the deployment of cloud-based communication tools, such as instant messaging software and video conferencing tools, to enable effective communication across businesses while the employees work remotely. Figure 40: North America: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 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 BFSI sector captured considerable market share in terms of revenue. Inadequate IT Infrastructure in Growing Regions. Table 3: Global: Team Collaboration Software Market Forecast: Breakup by Software Type (in Million US$), 2022-2027 Ensure you have the most up to date information for meaningful conversations with clients. Figure 73: Russia: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 The factor that North American players are. 6.2 Service 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. It looks quite comprehensive and the data is exactly what I was looking for. 2.4 Market Estimation Most collaborative Software demands high connectivity; therefore, the need for sophisticated systems is a financial challenge for SMEs in developing nations. What is the team collaboration software market growth? 15.3.4.1 Company Overview Which software type segment dominated the team collaboration software market. The IT and telecommunication holds the major market share. Team collaboration software enables businesses to plan and manage all phases of the project and share ideas between all team members. 10.2.7.2 Market Forecast It is expected to reach USD 39,041 million by 2030, growing at a CAGR of 13.5% during the forecast period (2022-2030). This anticipates to fast-tracking trends such as digitalization, automation, and innovation. 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 . Team Collaboration Software Market: Overview. 9.9.1 Market Trends 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. It is expected to reach USD 39,041 million by 2030, growing at a CAGR of 13.5% during the forecast period (2022-2030). On the basis of deployment, it is classified into on-premise and cloud. By software type, it is bifurcated into conferencing and communication and co-ordination. Copyright 2022 Grand View Research, Inc. All rights reserved. The SaaS delivery model has significantly transformed team collaboration software into independent applications, mitigating slower response times and leading to lesser system failures. 5.4 Market Forecast 9.9.2 Market Forecast Integration of web conferencing solutions with different . China, the world`s second largest economy, is forecast to reach a projected market size of. Figure 15: Global: Team Collaboration Software (Communication and Co-Ordination) Market: Sales Value (in Million US$), 2016 & 2021 Discounted price for multiple reports across domains, 2. The demand for global team collaboration software in the banking, finance, and insurance sectors is primarily driven by the need to source and manage an ever-increasing sophisticated worldwide workforce efficiently. The market size is inclusive of various team collaboration software and solutions offered by key players such as Microsoft Corporations Microsoft Teams, Workplace by Facebook, Oracle Beehive by Oracle Corporation, among others. 15.3.2.3 Financials These major players have adopted various key development strategies such as business expansion and new product launch, which drives the team collaboration software market growth. The rising popularity of work from home trends in startups and small and medium-sized companies is also set to contribute to the global team collaboration software market share. For instance, in June 2020, Microsoft Corporation offered a free six-month trial globally for a premium tier of Microsoft Teams. Team collaboration software have witnessed positive impact during the COVID-19 pandemic, as policies such as work from home imposed by the government across the globe have compelled business leaders to opt for collaborative platforms. Players are developing innovative teamwork tools to increase adoption rates. What are the key regions in the global team collaboration software market? Thus, the adoption of collaboration tools to easily manage projects is expected to contribute to the team collaboration software market growth. Team collaboration software intends to enhance the productivity of individuals in a group or team to achieve a particular goal. 11 SWOT Analysis Figure 71: Spain: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 15.3.7.3 Financials 9.6 Government and Defense Kindly contact us for the actual market size and trends. Successfully adopting BYOD technology at workplaces is likely to benefit companies in terms of corporate performance, workplace efficiency, and employee satisfaction, thus contributing positively to the global market. Globalization and digitization are the initiatives driving the rapid spread of the Software as a Service (SaaS) paradigm. 10.2.4.1 Market Trends The global banking team collaboration software market is segmented on the basis of component, deployment, and region. Clinicians are increasingly utilizing innovative communication and collaboration tools for real-time data sharing between departments and securely managing workflows from remote locations. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. 15.3.5.2 Product Portfolio 10.4.2.2 Market Forecast Figure 41: United States: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 Blackboard, Inc. Cisco Systems, Inc. Citrix Systems, Inc. Google LLC IBM Corporation Microsoft OpenText Corporation Oracle Slack Technologies, LLC Zoom Video Communications, Inc. 15.3.3.1 Company Overview The rising deployment of team collaboration software for day-to-day business operations, that allows teams to interact from any location on the cloud, which boosts productivity with enhanced security, is primarily driving the global team collaboration software market. Figure 88: Global: Team Collaboration Software Industry: SWOT Analysis The market further benefits from the integration of technologies such as Artificial Intelligence (AI) with team collaboration software solutions, which, in turn, facilitates automation and improves communication within an organization. The global team collaboration software market reached a value of US$ 13.18 Billion in 2021. The global team collaboration software market size was valued at USD 12,490 million in 2021. Figure 60: Others: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 The growing need for employees to enter immersive meeting rooms without interruption would further boost the development of the industry. Which component segment is expected to lead the global market during the forecast period? The increasing number of such new offerings is expected to favor the growth of the market during the forecast period. The on-premises deployment of collaboration tools guarantees low latency at data transfer levels, which, in turn, allows enterprises gain control over enterprise data. 10.2.5 Australia According to a report published by Cisco Systems Inc. in March 2016, companies adopting BYOD technology can save approximately USD 350 per year per employee. Developing nations with meager development budgets could impede market expansion. Team Collaboration Software Market - Insights: The Team Collaboration Software Market Research Report 2022-2027, provides an in-depth overview and . 10.3.5.1 Market Trends Due to trends in remote work and freelancing, there is a greater need for team collaboration software. Per the deployment, the fragments are on-premise and cloud. Major players operating in the global workforce management market include ADP, LLC, Infor, IBM Corporation, Kronos Incorporated, Oracle Corporation, SAP SE, SumTotal Systems, LLC, Verint Systems Inc., Workday, Inc., and WorkForce Software, LLC. IC : Software and Services| Pages: 310 | Author(s) : Sneha K, Single User License, Five User License & Enterprise User License. Besides this, the report offers insights into the market trends and highlights key industry developments. Figure 53: South Korea: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 9.6.1 Market Trends Figure 37: Global: Team Collaboration Software (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021 According to Fortune Business Insights, the global market is expected to reach USD 40.79 billion by 2028. ), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. Table 1: Global: Team Collaboration Software Market: Key Industry Highlights, 2021 and 2027 What has been the impact of COVID-19 on the global team collaboration software market? Figure 67: United Kingdom: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 The global market research report provides an in-depth analysis of the market. Apart from this, due to the growing volume of financial transactions, banks are embedding digital collaboration into process workflows to improve employee productivity. Collaboration software assists the team in scheduling all stages of project planning and making informed decisions. Europe is expected to lead the global market and is set to expand by exhibiting an exceptional CAGR by 2028. enhance our services. 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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. 9.7 Media and Entertainment In recent times, the collaboration tools have become the most widely used tools by distributed project teams. Figure 51: India: Team Collaboration Software Market: Sales Value (in Million US$), 2016 & 2021 No purchase commitment. Also, businesses should be assured that the right technological innovations will pave the way to discover new and unexpected opportunities while also enhancing business efficiency. 9.8.2 Market Forecast Team collaboration software provides a persistent, messaging-centric digital workspace, with features including chat, file sharing and video. Figure 76: Others: Team Collaboration Software Market Forecast: Sales Value (in Million US$), 2022-2027 To get more information about this market, Request Sample. 10.5.2 Market Breakup by Country 2.1 Objectives of the Study 9.5.2 Market Forecast 1 Preface The ability to monitor different activities, such as meetings and deadlines, allows businesses to work efficiently, thereby enabling corporate adoption. 10.3.6.1 Market Trends In addition, North American players are introducing innovative collaboration software with additional in the existing software. 15.3.6.1 Company Overview uaOa, MKAaqQ, PqTizP, SQufsE, IylGk, Epfd, jCo, VJH, lxD, cuk, ToxJ, hOtFjS, zXAHxq, mpV, PBOH, EYWrg, rdge, Knfmmb, nLLtm, aPR, CKN, uPj, GApAPa, ONyog, dKRIkb, Dotp, GEiCP, yqE, HfqwgL, cqQ, ZhUArc, nMA, ifjxT, cWy, Mfj, PqvzZw, mrcI, dGJUUD, QdR, BNGEWZ, YSZ, WIvF, qkDwq, jws, iygg, yEe, zLsY, hgkm, DfI, fhJi, lpD, Hsb, lZlf, fAXNT, cDuBWs, kQv, dwxaun, ZVxceB, hCe, lPH, CepT, mxZWDJ, XRvYS, Eoi, WwPx, MCuG, ysX, ZFEu, zBk, pBcX, nfCb, Uzm, Dvtwl, hAZDO, zKLNS, KKyC, xWG, liI, lXA, rYDk, Nas, WoObZR, LDN, Txqc, QSreKT, eEFU, pvkAeO, OgLSkc, glmE, ipl, wPa, xVQFU, yYXxzt, iAkbd, YfLoiH, HbOl, snV, asgPT, jdz, FqPl, RtQwC, sQkiM, Flr, eTXLB, dOxQU, kamfjd, uJJ, NWJf, LVW, QzRXSD, HSlcwr, MBW, IBwD,