According to the new market research
report "Enterprise Collaboration Market by
Component (Solutions (Enterprise Video, Enterprise Social Network, Project Management
& Analytics, Unified Messaging), Services), Deployment Type, Organization
Size, Vertical, and Region - Global Forecast to 2023", The enterprise
collaboration market is expected to grow from USD 34.57 Billion in 2018 to USD
59.86 Billion by 2023, at a CAGR of 11.6% from 2018 to 2023.
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The
growth of the enterprise collaboration market is primarily driven by the
widespread usage of social networking websites and increasing usage of mobile devices
for collaboration.
Based on deployment type, the cloud
segment of the enterprise collaboration market is projected to grow at a higher
CAGR than the on-premises segment during the forecast period.
Based
on deployment type, the cloud segment of the enterprise collaboration market is
projected to grow at a higher CAGR than on-premises segment during the forecast
period. The demand for cloud-deployed enterprise collaboration solutions is
increasing in organizations, as these solutions are easy to deploy, are agile,
and they provide more scalability functions than on-premises solutions at an
affordable cost. Majority of the SMEs are adopting cloud deployment, as these
solutions help SMEs in avoiding costs related to hardware, software, storage,
and technical staff.
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in-depth TOC on "Enterprise
Collaboration Market"
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Based on organization size, the small & medium enterprises segment
of the enterprise collaboration market is projected to grow at a higher CAGR
than the large enterprises segment from 2018 to 2023.
Based on organization size, the small & medium
enterprises segment of the enterprise collaboration market is expected to
witness a higher growth than the large enterprises segment during the forecast
period. Cost-effectiveness is important for Small & Medium Enterprises
(SMEs), as they have limited budgets. Hence, the implementation of cloud-based
enterprise collaboration solutions is expected to result in increased revenue,
desired business outcome, and improved business efficiency for SMEs. Enterprise
collaboration solutions help SMEs reduce travel cost and the need for
face-to-face meetings.
The North American
region is expected to lead the enterprise collaboration market in 2018.
The
North American region is expected to lead the enterprise collaboration market
in 2018, as North America is the earliest adopter of cloud technologies and has
advanced infrastructure capabilities, and is the largest revenue generator
region for the market. North America, especially the US and Canada, is
witnessing the widespread adoption of cloud-based enterprise collaboration
solutions and services in large enterprises and SMEs across multiple verticals.
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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/enterprise-collaboration-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/enterprise-collaboration-market.asp
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