The Global Enterprise Collaboration Market size is expected to reach $101.7 billion by 2028, rising at a market growth of 12.1% CAGR during the forecast period.
Enterprise collaboration is a method of communication among employees at a company that includes the utilization of a collaboration platform, a corporate intranet, enterprise social networking tools, and the public Internet. Through a blend of networking capabilities, software technologies, and collaborative methods, the enterprise collaboration method allows employees in a company to share information and collaborate on projects from multiple geographic locations. Groupware, videoconferencing, and document-sharing capabilities are examples of technologies. Many workplace collaboration software applications provide features that are comparable to those found on popular social networking platforms. It's a method for aiding various employees in collaborating across geographies. As long as distant workers have access to the internet, they can be engaged in regular duties such as project management, file sharing, and social media through a single online system.
Additionally, enterprise collaboration platforms, which are well-designed to make it easier for employees to communicate, have become more complex for many enterprises as global and remote work environments have grown in popularity. The fast-paced nature of company operations, as well as the ever-increasing quantity of data that employees need to manage. Business users can communicate knowledge, save and share files, create and jointly amend papers, and communicate with each other in real-time in collaborative workspaces using a collaboration system. In order to facilitate effective collaboration, the tools chosen must be simple to use and accessible so that people will engage with and use the system on a regular basis.
Along with that, enterprise collaboration solutions are an essential tool for the modern workplace environment, allowing teams to collaborate and prevent any kind of hindrances in organizations. Productivity improves when miscommunication is decreased. Errors can be addressed rapidly by incorporating technologies that enable easy internal dialogue before team members produce work with errors, which will then be redone. Enterprise collaboration technologies are excellent for obtaining real-time input from consumers, partners, stakeholders, and vendors, enabling for more efficient replies and enhanced creativity.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Enterprise Collaboration Market. Companies such as RingCentral, Inc., SAP SE and IBM Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Google LLC, SAP SE, Cisco Systems, Inc., Adobe, Inc., Facebook, Salesforce.com, Inc., Citrix Systems, Inc., and Rin
tral, Inc.
By Component
Enterprise collaboration is a method of communication among employees at a company that includes the utilization of a collaboration platform, a corporate intranet, enterprise social networking tools, and the public Internet. Through a blend of networking capabilities, software technologies, and collaborative methods, the enterprise collaboration method allows employees in a company to share information and collaborate on projects from multiple geographic locations. Groupware, videoconferencing, and document-sharing capabilities are examples of technologies. Many workplace collaboration software applications provide features that are comparable to those found on popular social networking platforms. It's a method for aiding various employees in collaborating across geographies. As long as distant workers have access to the internet, they can be engaged in regular duties such as project management, file sharing, and social media through a single online system.
Additionally, enterprise collaboration platforms, which are well-designed to make it easier for employees to communicate, have become more complex for many enterprises as global and remote work environments have grown in popularity. The fast-paced nature of company operations, as well as the ever-increasing quantity of data that employees need to manage. Business users can communicate knowledge, save and share files, create and jointly amend papers, and communicate with each other in real-time in collaborative workspaces using a collaboration system. In order to facilitate effective collaboration, the tools chosen must be simple to use and accessible so that people will engage with and use the system on a regular basis.
Along with that, enterprise collaboration solutions are an essential tool for the modern workplace environment, allowing teams to collaborate and prevent any kind of hindrances in organizations. Productivity improves when miscommunication is decreased. Errors can be addressed rapidly by incorporating technologies that enable easy internal dialogue before team members produce work with errors, which will then be redone. Enterprise collaboration technologies are excellent for obtaining real-time input from consumers, partners, stakeholders, and vendors, enabling for more efficient replies and enhanced creativity.
COVID-19 Impact Analysis
The COVID-19 outbreak caused a significant downfall to various economies all over the world. The outbreak of the novel coronavirus slowed down numerous businesses globally. In addition, due to the rapid spread of the infection, governments all over the world were forced to impose countrywide lockdowns. Due to the travel restrictions under the lockdown, the supply chain of various goods, as well as intermediate goods, was significantly disrupted. Moreover, the lockdown also caused a considerable hindrance to various manufacturing facilities worldwide. The demand for enterprise collaboration solutions significantly surged during the COVID-19 pandemic. The utilization of enterprise collaboration solutions was increased due to the requirement for communication among employees in various organizations.Market Growth Factors:
Rising penetration of advanced tools and technologies among businesses
Organizations leverage a considerable number of advantages from enterprise collaboration technologies because they enable seamless communication amongst employees. This increases the operational efficiency as well as productivity of the staff of an organization, assisting them in accomplishing their business objectives. Data synchronization and collaboration solutions are provided by enterprise collaboration platforms, which include capabilities such as monitoring calendars, official emails, and contacts. Additionally, video conferencing allows employees to communicate and exchange ideas in a more engaging manner. These factors substantially increase the ability of employees to increase productivity through enhanced collaboration.Increases learning and skills with expedited engagement
While various companies have official training and up skilling programs in place, a collaborative work atmosphere encourages more organic learning. Individual members of teams in organizations can learn from each other by providing as well as receiving feedback and exchanging different perspectives as they work together. Some workers may also be compelled to gain various learning opportunities and flourish if they work in a competitive atmosphere. Collaboration, on the other hand, promotes teams to enhance and diversify their set of skills as a whole. When confronted with new obstacles, teams can draw on a greater breadth of knowledge to address problems more quickly.Marketing Restraining Factor:
Infrastructure and internet connectivity challenges
A slow internet connection can generate major disruption in the process of collaboration, which can make the interaction more challenging. Because collaboration solutions provide all of their services online, a slow connection can result in delayed message delivery, low-quality video and audio conferencing, slower file transfers, and disrupted internet connections to various remote workspaces. In addition, a poor connection or poor audio and video quality can also cause disruptions, which can lead to misunderstandings and a loss of time and effort for the organization.
Component Outlook
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Enterprise Video, Unified Messaging & Enterprise Social Network, Business Process Management, File Sharing & Synchronization, Project Management & Analytics, and Others. In 2021, the service segment garnered a substantial revenue share of the enterprise collaboration market. The increasing growth of this segment is owing to the rising number of complexities that are being faced by various organizations due to the increasing workloads as well as the rising number of employees in these organizations. Enterprise collaboration systems are broadly being leveraged in order to address this communication issue, which is expected to fuel the growth of the segment.End-User Outlook
Based on End-User, the market is segmented into BFSI, Public Sector, Energy & Utilities, Manufacturing, Telecom & IT, Retail & Consumer Goods, Healthcare & Life Sciences, Travel & Hospitality, and Others. In 2021, the telecom and IT segment registered a significant revenue share of the enterprise collaboration market. The utilization of the enterprise collaboration tools majorly inclined across the telecommunication and IT sector due to the emerging work-from-home culture. Due to the increasing workloads in both the telecommunication and IT industry, the requirement for effective interpersonal communication among the employees of the telecom and IT organizations is constantly rising. This factor is driving the growth of this segment of the market.Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-premise and Cloud. In 2021, the on-premise segment witnessed the largest revenue share of the enterprise collaboration market. The on-premise solutions is increasingly becoming popular due to the fact that in this mode, the risk of data and privacy leaks is eliminated. In this deployment mode, tools and technologies are integrated into the systems that are owned by the company on its premises. The on-premise deployment mode offers complete control over enterprise collaboration to the company. Therefore, this factor is accelerating the growth of the enterprise collaboration market.Organization Size Outlook
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. In 2021, the large enterprise segment procured the highest revenue share of the enterprise collaboration market. The rising demand for enterprise collaboration tools in large enterprises is attributed to the significant number of employees who work in these organizations. The process of communication in large enterprises disrupts when the number of employees increases. Due to this, the demand for a solution that streamlines the interaction activities among employees significantly rises. Hence, the integration of enterprise collaboration systems in large enterprises is rapidly increasing.Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America accounted for the highest revenue share of the enterprise collaboration market. The deployment of enterprise collaboration solutions and tools in the region is being driven by government measures to enhance digital infrastructure. The region also has the largest student population, and there is an increasing need for E-Learning and online education as technology advances. This propels the enterprise collaboration market to address a wide range of educational requirements across the region including countries like China, Australia and New Zealand (ANZ), Japan, Singapore, and India.Enterprise Collaboration Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Enterprise Collaboration Market. Companies such as RingCentral, Inc., SAP SE and IBM Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Google LLC, SAP SE, Cisco Systems, Inc., Adobe, Inc., Facebook, Salesforce.com, Inc., Citrix Systems, Inc., and Rin
tral, Inc.
Recent Strategies Deployed in Enterprise Collaboration Market
Partnerships, Collaborations and Agreements:
- Mar-2022: Google joined hands with Mahindra Group, an Indian multinational conglomerate. This collaboration aimed to drive innovation across various business units, of the group. Moreover, Mahindra is expected to transform its business-critical applications from its on-premises data centers to Google Cloud under the RISE with SAP program and its data lake and data warehouse.
- Feb-2022: RingCentral extended its partnership with Deutsche Telekom, a German telecommunications company. Following this partnership, the companies is expected to introduce RingCentral X powered by Telekom, a flexible, reliable, and secure business communications and collaboration solution in order to aid organizations in migrating to the cloud.
- Dec-2021: Adobe came into a partnership with Microsoft, an American multinational technology corporation. Under this partnership, the companies is expected to redefine the future of work. Moreover, the companies is expected to unlock new approaches to meet their joint clients in order to aid their employees as well as businesses thrive in an evolving hybrid world.
- Nov-2021: Microsoft partnered with Veritas, an American international data management company. Following this partnership, the companies is expected to advance Microsoft Azure with Veritas Enterprise Data Services in order to address various significant obstacles, like the increased risk of ransomware, which is being faced by enterprises nowadays.
- Nov-2021: Adobe partnered with Tata Consultancy Services, an Indian IT giant. Through this partnership, the companies aimed to digitally transform document-driven processes for enterprise-wide departments in order to provide turnkey digital customer experiences to the customers.
- Nov-2021: RingCentral partnered with Mitel, a Canadian telecommunications company. Through this partnership, RingCentral is expected to offer a flawless migration path to RingCentral's Message Video Phone to Mitel's customers across the world.
- Oct-2021: IBM teamed up with Apptio, a leader in providing technology business management SaaS applications. Following this partnership, the companies is expected to help customers in driving the adoption of enhancing hybrid cloud technology decision-making IBM's open hybrid cloud approach and Red Hat OpenShift.
- Oct-2021: Cisco extended its partnership with Lumen, an American telecommunications company. Through this extended partnership, the companies is expected to introduce Lumen Solutions for Cisco Unified Communications Manager Cloud, a new offering. Moreover, this extended partnership is expected to allow users of Cisco Webex to install agile, flexible, and effective collaboration technologies without requiring ongoing maintenance, significant capital investments, and high IT expenses for training and staffing.
- Oct-2021: Citrix extended its partnership with Google Cloud, a suite of cloud computing services by Google. With this expanded partnership, the companies is expected to offer future hybrid work for enterprise customers by empowering hybrid and distributed workers to access information and tools securely.
- Jul-2021: Microsoft extended its partnership with NEC, a Japanese multinational information technology and electronics corporation. With this partnership, the companies is expected to utilize Microsoft 365, and Microsoft Azure integrated with NEC's IT and network expertise in order to offer improved capabilities with the purpose of driving sustainable digitalization, helping their customers in transforming their business models, and building digital workplaces for the post-pandemic environment.
- Jul-2021: Google teamed up with AT&T, an American multinational conglomerate. This collaboration is expected to integrate AT&T's 5G capabilities into Google Cloud's edge computing portfolio, comprising AT&T's on-premises multi-access edge compute solution and AT&T Network Edge capabilities via LTE, wireline, and 5G. Moreover, the companies is expected to also examine how network APIs can optimize applications leveraging near real-time network information at the Google Cloud edge. Further, it is expected to enable companies to optimize the customer experience at the edge as well as drive meaningful outcomes for enterprises.
- Jun-2021: Cisco partnered with AT&T, an American multinational conglomerate. This partnership aimed to introduce Webex Calling with AT&T in order to help businesses in optimizing their operations and expediting the digital transformation.
- May-2021: RingCentral came into a partnership with Verizon, an American wireless network operator. Under this partnership, the companies is expected to integrate cloud-based enterprise communication solutions and integrated video meetings, team messaging, and a cloud phone system in order to develop unified communications as a service (UCaaS) solution for enterprise businesses.
- Apr-2021: SAP extended its partnership with Siemens, a German multinational conglomerate corporation. Following this extended partnership, the companies aimed to introduce new cloud-based services to help industrial equipment producers to increase the operational efficiency of the critical asset. Moreover, this extended partnership is expected to also enable the companies to provide new solutions for the asset and service lifecycle.
- Apr-2021: SAP SE extended its partnership with Accenture, an Ireland-based multinational professional services company. Through this extended partnership, the companies is expected to help organizations in embedding sustainability over the full spectrum of their business operations. Moreover, the companies is expected to also co-develop SAP's new solution for responsible design and production.
- Apr-2021: IBM partnered with Celonis and z. This partnership aimed to expedite the adoption of the Execution Management System of Celonis and help in providing more flexible choices in the deployment processes of the technology. Moreover, the companies is expected to also accelerate how customers implement process intelligence, mining, and automation to the core organization system processes and functions that propel business execution.
- Mar-2021: Microsoft partnered with Nokia, a Finnish multinational telecommunication, information technology, and consumer electronics company. Under this partnership, the companies is expected to develop new 4G and 5G private wireless use cases developed for businesses by integrating Microsoft Azure cloud-based services and developer ecosystem with Cloud RAN technologies of Nokia. Moreover, the companies is expected to drive end-user functionality through new business cases.
- Feb-2021: SAP SE partnered with Lumen Technologies, an American telecommunications company. Under this partnership, the companies is expected to integrate SAP HANA with the Lumen platform for enterprise customers leveraging SAP Business One. In addition, the new integration is expected to aid customers and partners by providing a choice of cloud infrastructure providers and hybrid deployment models.
- Jan-2021: IBM extended its partnership with Atos, a French multinational information technology service and consulting company. Under this extended partnership, the companies is expected to aid customers in accelerating their digital transformation as well as optimizing their business processes. In addition, the companies is expected to collaborate to address business issues in order to serve the Energy and Utilities, Oil and Gas, Retail and Transportation, and Manufacturing sectors.
- Jan-2021: Microsoft partnered with SAP SE, a German multinational software corporation. With this partnership, the companies is expected to expedite the adoption of SAP S/4HANA across the Microsoft Azure in order to gain the ability to operate a mission-critical intelligent enterprise on Azure.
- Jan-2021: Salesforce extended its partnership with Accenture, an Ireland-based multinational professional services company. With this expanded partnership, the companies is expected to introduce C-suite to aid organizations in embedding sustainability into their business, fulfill increasing stakeholder and customer demands, and contribute to enhancing the United Nations Sustainable Development Goals.
- Dec-2020: Microsoft partnered with EY, a multinational professional services network. Following this launch, the companies is expected to introduce EY Microsoft Services Group in order to aid companies in realizing long-term value via end-to-end Microsoft powered digital transformation.
- Nov-2020: RingCentral extended its partnership with BT, the leading network and telecommunications provider based in the UK. With this expanded partnership, the companies is expected to expedite the adoption of cloud-based communications and aid in the digital transformation of businesses in the UK.
- Oct-2020: IBM came into a partnership with HCL, an Indian multinational information technology services and consulting company. Under this partnership, the companies is expected to bring together the capabilities of HCL and the IBM Ecosystem Unit in order to help customers, including those companies in regulated industries like telecommunications, financial services, energy & amp; utilities, and life sciences & amp; healthcare, in shifting their mission-critical workloads to IBM public cloud and develop cloud-native and digital solutions, which is expected to help them in accelerating their migration.
- Jul-2020: Citrix entered into a multi-year agreement with Microsoft, an American multinational technology corporation. Under this agreement, the companies is expected to empower and reimagine the flexible workplace of the future. In addition, the companies is expected to allow Microsoft customers to leverage the digital workspace platform and Microsoft Azure is expected to become a preferred public cloud for organizations utilizing the Citrix portfolio to allow customers to work remotely through any device.
- Jun-2020: IBM entered into a partnership with SAP SE, a German multinational software corporation. Following this partnership, the companies aimed to develop various new product ranges designed to innovate a more predictable journey for companies to become data-driven intelligent businesses.
- Mar-2020: IBM partnered with Infosys, a world leader in consulting and next-generation digital services. Through this partnership, the companies is expected to help businesses in accelerating their digital transformation journey by leveraging the IBM public cloud to migrate, modernize, and transform their business applications and workloads by tapping into open innovation, security, and enterprise capabilities of the IBM public cloud.
Acquisitions and Mergers:
- Jan-2022: SAP SE took over Taulia, a financial technology business. Following this acquisition, the company aimed to strengthen its position in working capital management by incorporating Taulia's deep working capital management expertise with the broad CFO solution portfolio of SAP SE. Moreover, this acquisition is expected to also help businesses in enhancing their seize growth opportunities as well as financial position.
- Mar-2021: RingCentral acquired the engineering and technology team at Kindite, a leading developer of cryptographic technologies. Following this acquisition, the companies is expected to develop a technology that is expected to be integrated into the global communications platform of RingCentral in order to offer improved security capabilities, including end-to-end encryption, to the customers.
- Feb-2021: Cisco acquired IMImobile, a provider of cloud communications software and services. This acquisition aimed to integrate IMImobile's capabilities into Cisco's Webex Contact Center in order to offer enhanced customer experience as a Service offering.
- Jan-2021: Citrix took over Wrike, an American project management application service provider. Under this acquisition, the companies is expected to innovative work management solution from Wrike with Citrix's powerful digital work platform in order to facilitate work execution and collaboration, offering additional tools to employees to work securely and efficiently.
- Jan-2021: SAP SE acquired Signavio, a vendor of Business Process Management software. Under this acquisition, the companies is expected to bring together business process intelligence from Signavio and SAP in order to develop a leading end-to-end business process transformation suite, which is expected to help meet the customers" requirements to gain a competitive edge.
- Dec-2020: Salesforce completed its acquisition of Slack, a proprietary business communication platform. Through this acquisition, the companies aimed to provide a single source of truth for their business along with a unified platform for connecting employees, partners, and customers.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Enterprise Video
- Unified Messaging & amp; Enterprise Social Network
- Business Process Management
- File Sharing & amp; Synchronization
- Project Management & amp; Analytics
- Others
- Services
- BFSI
- Public Sector, Energy & amp; Utilities
- Manufacturing
- Telecom & amp; IT
- Retail & amp; Consumer Goods
- Healthcare & amp; Life Sciences
- Travel & amp; Hospitality
- Others
- On-premise
- Cloud
- Large Enterprises
- Small & amp; Medium Enterprises
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Microsoft Corporation
- Google LLC
- SAP SE
- Cisco Systems, Inc.
- Adobe, Inc.
- Salesforce.com, Inc.
- Citrix Systems, Inc.
- RingCentral, Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Enterprise Collaboration Market by Component
Chapter 5. Global Enterprise Collaboration Market by End-User
Chapter 6. Global Enterprise Collaboration Market by Deployment Type
Chapter 7. Global Enterprise Collaboration Market by Organization Size
Chapter 8. Global Enterprise Collaboration Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- Google LLC
- SAP SE
- Cisco Systems, Inc.
- Adobe, Inc.
- Salesforce.com, Inc.
- Citrix Systems, Inc.
- RingCentral, Inc.
Methodology
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