The global communication software market is envisioned to garner $2.55 Billion by 2031, growing from $1.00 Billion in 2021 at a CAGR of 10.3% from 2022 to 2031.
Communication software refers to computer programs or applications that enable users to communicate with one another electronically. This Includes messaging, voice and video calling, email, file sharing, and other forms of communication. Examples of communication software Include instant messaging applications such as WhatsApp, Slack, and Telegram; video conferencing software such as Zoom and Skype; email clients such as Microsoft Outlook and Gmail; and collaboration tools such as Google Drive and Dropbox.
The market for communication software is mainly influenced by the rising demand for video conferencing and virtual meeting solutions. Businesses have to swiftly adjust to the new reality of virtual collaboration as a result of the COVID-19 pandemic, which has expedited the adoption of remote work. For organizations to sustain efficiency and communication among distant staff, communication software has become a crucial tool. Teams can interact in real-time, share ideas, and discuss projects without having to hold physical meetings due to video conferencing and virtual meeting technologies. In addition to video conferencing, communication software also Includes email, instant messaging, project management systems, and other technologies that support successful communication and collaboration amongst remote teams.
Communication software typically relies on high-speed internet connectivity to function effectively, and if this is not available, the software may not be able to perform as intended or may not be accessible at all. This can be particularly challenging in regions with limited internet infrastructure or where access to high-speed internet is limited due to factors such as geography, economic conditions, or political instability. In such regions, individuals and businesses may not be able to fully leverage the benefits of communication software, such as improved collaboration, remote work capabilities, and reduced communication costs.
The market for communication software has a sizable opportunity due to the expanding usage of video conferencing. In recent years, video conferencing technology has evolved and become more widely available, leading to a rise in its use across a variety of sectors and corporate sizes. With video conferencing, remote teams can collaborate and communicate more effectively, which boosts productivity and lowers travel expenses. The need for video conferencing software is set to Increase as companies look for more effective and affordable methods to cooperate and communicate.
The COVID-19 pandemic has had significant impacts on the market for communication software. The need for communication software has rapidly expanded with the acceptance of remote work and virtual collaboration. Due to the need for businesses of all sizes to move their activities online, there is a rising need for software that facilitates communication and cooperation among distant workers. The market’s move towards cloud-based communication platforms has been one of COVID-19's most important effects on the market for communication software. A number of advantages, Including simplicity of use, scalability, and accessibility from any location with an internet connection, are provided by cloud-based systems. So as to assist their remote workers, organizations are Increasingly relying on cloud-based solutions. Video conferencing software has been one of the fastest-growing segments of the communication software market during the pandemic.
The key players profiled in this report Include Nudge Rewards Inc., GuideSpark, Beekeeper AG, Sociabble, Inc.,SocialChorus. Inc., Poppulo, OurPeople, Smarp, theemployeeapp, and Workvivo Limited.
Communication software refers to computer programs or applications that enable users to communicate with one another electronically. This Includes messaging, voice and video calling, email, file sharing, and other forms of communication. Examples of communication software Include instant messaging applications such as WhatsApp, Slack, and Telegram; video conferencing software such as Zoom and Skype; email clients such as Microsoft Outlook and Gmail; and collaboration tools such as Google Drive and Dropbox.
The market for communication software is mainly influenced by the rising demand for video conferencing and virtual meeting solutions. Businesses have to swiftly adjust to the new reality of virtual collaboration as a result of the COVID-19 pandemic, which has expedited the adoption of remote work. For organizations to sustain efficiency and communication among distant staff, communication software has become a crucial tool. Teams can interact in real-time, share ideas, and discuss projects without having to hold physical meetings due to video conferencing and virtual meeting technologies. In addition to video conferencing, communication software also Includes email, instant messaging, project management systems, and other technologies that support successful communication and collaboration amongst remote teams.
Communication software typically relies on high-speed internet connectivity to function effectively, and if this is not available, the software may not be able to perform as intended or may not be accessible at all. This can be particularly challenging in regions with limited internet infrastructure or where access to high-speed internet is limited due to factors such as geography, economic conditions, or political instability. In such regions, individuals and businesses may not be able to fully leverage the benefits of communication software, such as improved collaboration, remote work capabilities, and reduced communication costs.
The market for communication software has a sizable opportunity due to the expanding usage of video conferencing. In recent years, video conferencing technology has evolved and become more widely available, leading to a rise in its use across a variety of sectors and corporate sizes. With video conferencing, remote teams can collaborate and communicate more effectively, which boosts productivity and lowers travel expenses. The need for video conferencing software is set to Increase as companies look for more effective and affordable methods to cooperate and communicate.
The COVID-19 pandemic has had significant impacts on the market for communication software. The need for communication software has rapidly expanded with the acceptance of remote work and virtual collaboration. Due to the need for businesses of all sizes to move their activities online, there is a rising need for software that facilitates communication and cooperation among distant workers. The market’s move towards cloud-based communication platforms has been one of COVID-19's most important effects on the market for communication software. A number of advantages, Including simplicity of use, scalability, and accessibility from any location with an internet connection, are provided by cloud-based systems. So as to assist their remote workers, organizations are Increasingly relying on cloud-based solutions. Video conferencing software has been one of the fastest-growing segments of the communication software market during the pandemic.
The key players profiled in this report Include Nudge Rewards Inc., GuideSpark, Beekeeper AG, Sociabble, Inc.,SocialChorus. Inc., Poppulo, OurPeople, Smarp, theemployeeapp, and Workvivo Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the communication software market analysis from 2021 to 2031 to identify the prevailing communication software market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the communication software market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global communication software market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Deployment Model
- On-Premises
- Cloud
By Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
By Industry Vertical
- BFSI
- Manufacturing
- Retail
- Healthcare
- IT and Telecom
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- Beekeeper AG
- GuideSpark
- Nudge Rewards Inc.
- OurPeople
- Poppulo
- Smarp
- Sociabble, Inc.
- SocialChorus. Inc.
- theemployeeapp
- Workvivo Limited
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COMMUNICATION SOFTWARE MARKET, BY DEPLOYMENT MODEL
CHAPTER 5: COMMUNICATION SOFTWARE MARKET, BY ENTERPRISE SIZE
CHAPTER 6: COMMUNICATION SOFTWARE MARKET, BY INDUSTRY VERTICAL
CHAPTER 7: COMMUNICATION SOFTWARE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Communication Software Market,' The communication software market was valued at $1 billion in 2021, and is estimated to reach $2.6 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031.The growing demand for remote communication is one of the major growth factors of the communication software market. The demand for reliable and efficient communication solutions has increased as more firms implement remote work models. Regardless of where a team is located, communication software offers a variety of features, including instant messaging, video conferencing, file sharing, and project management. The COVID-19 pandemic has also boosted the use of remote work and emphasized the significance of digital communication technologies. The need for communication software has consequently grown even more. It has been necessary for many firms to adjust to remote employment, and communication software has been a key component of this change. These factors are anticipated to boost the communication software industry growth in the upcoming years.
However, the limited internet connectivity can restrain the communication software market in certain regions of the world. Communication software typically relies on high-speed internet connectivity to function effectively, and if this is not available, the software may not be able to perform as intended or may not be accessible at all. This can be particularly challenging in regions with limited internet infrastructure or where access to high-speed internet is limited due to factors such as geography, economic conditions, or political instability. In such regions, individuals and businesses may not be able to fully leverage the benefits of communication software, such as improved collaboration, remote work capabilities, and reduced communication costs.
The communication software market is rapidly growing due to the increasing demand for more efficient and effective communication tools among businesses. Cloud-based communication solutions are a major driver of this growth as they offer many advantages over traditional on-premises solutions. With cloud-based solutions, users can access communication tools from any location and on any device, making it ideal for remote work and collaboration. This allows businesses to easily scale their communication capabilities up or down as needed, without having to worry about infrastructure limitations or the costs associated with maintaining on-premises solutions. These factors are anticipated to boost market growth in the upcoming years.
The global communication software market share is segmented based on deployment model, enterprise size, Industry Vertical, and region. By deployment model, it is classified into cloud, and on-premises. By enterprise size, it is classified into large enterprises, and small and medium enterprises. By Industry Vertical, it is classified into BFSI, Manufacturing, Retail, Healthcare, IT and Telecom and Others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the communication software market report include Nudge Rewards Inc., GuideSpark, Beekeeper AG, Sociabble, Inc., SocialChorus. Inc., Poppulo, OurPeople, Smarp, theemployeeapp, and Workvivo Limited.
The report offers a comprehensive analysis of the global communication software market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of Covid-19 on the Global Communication Software Industry
The COVID-19 pandemic has had a significant impact on the communication software market, as it has accelerated the adoption of remote work and virtual communication tools. Increased demand for video conferencing tools like Zoom, Microsoft Teams, and Google Meet has been the pandemic's biggest effect on the market for communications software market.The rising usage of cloud-based communication solutions is another trend that has developed during the pandemic. Greater flexibility and scalability are made possible by cloud software, which is crucial as businesses try adjusting to shifting business environments. The rising usage of cloud-based communication solutions is another trend that has developed during the pandemic. Greater flexibility and scalability are made possible by cloud software, which is crucial as businesses try adjusting to shifting business environments.
Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market.
Key Findings of the Study
- Based on deployment model, the on-premises sub-segment emerged as the global leader in 2021 and as well as sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on enterprise size, the large enterprises sub-segment emerged as the global leader in 2021 and as well as sub-segment is predicted to show the fastest growth in the upcoming years.
- Based on industry vertical, the IT and Telecom sub-segment emerged as the global leader in 2021 and as well as this sub-segment is predicted to show the fastest growth in the upcoming years.
- Based on region, the North America market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.
Companies Mentioned
- Beekeeper AG
- GuideSpark
- Nudge Rewards Inc.
- OurPeople
- Poppulo
- Smarp
- Sociabble, Inc.
- SocialChorus. Inc.
- theemployeeapp
- Workvivo Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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