Overview:

Adoption of enterprise collaboration tools has been getting a boost in the recent years with key players such as Slack Technologies, Microsoft Corporation, and Facebook Inc. releasing featured upgrades enabling their collaboration software to work efficiently for enterprise users. In 2018, Facebook Inc. announced an upgrade in its Workplace collaboration tool user interface which allows employees to access other services like SharePoint within the Workplace UI.

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In May 2019, Microsoft Corporation also made interface changes to its Teams collaboration tool, permitting administrators to let quickly add or remove team members, and change user settings and make changes across the whiteboard. The company also added technical support for Teams Whiteboard on Surface Hub conferencing system. Growth and development of various enterprise platforms and tools such as Blink mobile app, Jira software, Smartsheet platform among others is expected to drive the market across the globe.

Segmentation:

According to Market Research Future, the enterprise collaboration market has been segmented on the basis of component, type, organization size, deployment, vertical, and region.

By component, the market has been segmented into, solutions and services.

By type, the market has been segmented into asynchronous and synchronous

By organization size, the market has been segmented into Large enterprises and SMEs.

By deployment, the market has been segmented into cloud and on-premise

By vertical, the market has been segmented into BFSI, IT & telecommunications, retail, healthcare, travel & hospitality, transportation & logistics, government, energy & utilities, education, and others.

Regional Analysis:

The enterprise collaboration market share across the globe is split into North America, APAC/Asia Pacific, Europe and the Rest of the World/RoW.

The global enterprise collaboration market is currently headed by North America, which is home to a huge number of IT giants such as Microsoft Corporation, Oracle Corporation, IBM Corporation, and more that offer cloud-based enterprise collaboration services and solutions. Canada, Mexico and the US will remain the leading adopters of enterprise collaboration tools in light of the growing need to streamline essential processes, boost worker engagement as well as employees collaboration. Over the coming years, North America could witness a surge in the demand for cloud-based collaboration solutions across IT & telecom, healthcare and BFSI.

Europe is the second biggest gainer in the global market, thanks to the escalating deployment of secured and advanced enterprise collaboration tools for better management in enterprises across Italy, the UK, Portugal, France, the Netherlands, Spain, Austria, Germany and Sweden to name a few. The market here also gains from the increasing prominence of social networking platforms and tools among verticals like retail, IT & telecom, healthcare, BFSI, education and government.

As the third highest revenue generating market, APAC is racing ahead backed by the escalating demand for enterprise collaboration tools and solutions among the IT & telecom and financial service industries. The rising spending by enterprises across Singapore, Japan, India, Malaysia, Australia and China on the deployment of efficient collaboration tools for both external and external across the border communication also aids market growth. Apart from this, the high demand from the e-commerce and retail industry for these tools can also be credited for the immense business growth in APAC. Philippines, Vietnam, South Korea, Thailand, Indonesia, Myanmar and Sri Lanka are some of the emerging countries that present several growth opportunities to the eminent firms.

Key Players:

The renowned industry firms identified by MRFR are Atlassian Corporation Plc, Salesforce.com, Inc., Slack Technologies, Jive Software, VMware, Inc. (Dell Technologies), SAP SE, Microsoft Corporation, Adobe Inc., Google LLC, TIBCO Software Inc., IBM Corporation, Mitel Networks Corporation, Cisco Systems, Inc., Facebook Inc., Igloo Software, to mention a few.

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