Collaboration Software Market Size By Component (Solution [Conferencing, Content Sharing, Project Management, Enterprise Social Networking, Messaging], Service [Professional Services, Managed Services]), By Deployment Model (On-premise, Cloud), By Organization Size (SMEs, Large Enterprises), By Application (BFSI, IT and Telecom, Retail and Consumer Goods, Healthcare, Education, Government, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Collaboration Software Market size exceeded USD 9 billion in 2019 and is poised to grow at a CAGR of over 14% between 2020 and 2026. The market growth is attributed to increasing Bring Your Own Device (BOYD) trend across enterprises.
 

The BOYD trend is allowing employees to access different enterprise resources remotely. The collaboration software is helping in increasing coordination between these remotely working employees to improve their productivity.
 

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Moreover, the rising broadband penetration across the globe is expected to boost the market revenue. In addition, the ongoing outbreak of COVID-19 epidemics has resulted in growing demand for collaboration solutions.
 

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Conferencing held the highest China collaboration software market share in 2019

Conferencing solution segment in China accounted for over 40% market share in 2019 owing to increasing demand for video meetings across international businesses. The conferencing solutions can be successfully implemented as per the requirement and convenience of employees and stakeholders participating in them.
 

The addition of advanced technologies, such as Artificial Intelligence (AI) and machine learning, has brought several advantages to web and video conferencing depending on call requirements. Several collaboration software solution providers are integrating these technologies to enhance the co-ordination of their solutions to support various industry verticals. Conferencing solution providers cater to technologies to ease communication among businesses with customers and personnel, which are either free of cost or on subscription basis to access services.
 

Adoption of collaboration software is expected to grow rapidly across SMEs

SMEs are expected to grow at a CAGR of over 15% in the South Africa market during the forecast period. The growth can be credited to growing digitalization across SMEs. The emergence of virtual business is enabling SMEs to deploy collaboration software to improve communication across enterprises. The increasing need to reduce the operating expenses for managing large office spaces is also supporting the growing demand for collaboration software across SMEs. The growing BYOD trend across SMEs is also supporting the market growth.
 

On-premise deployment model provides greater control to enterprises

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In Germany, the on-premise deployment model dominated the collaboration software market in 2019 with a revenue share of over 50% due to its capability to offer complete software service control to enterprises. The enterprises are completely responsible for maintenance and use of products & services once the license copy of the product is provided at the time of deployment by the vendor. The benefit experienced by market players after deploying on-premise model include accessibility to equipment by enterprises anytime for troubleshooting while managing disaster recovery.
 

IT and Telecom segment held the highest Canada market share in 2019

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In Canada, the IT & telecom sector held the market revenue share of over 25% in 2019 due to need to utilize collaboration, unified messaging, and conferencing techniques & tools to establish a secure and reliable means of communication to make strategic decisions for improving productivity and efficiency of businesses. The rising need of effective internal and external communication in the market is supporting the demand for collaboration software. These solutions are encouraging teamwork in an enterprise across the IT & telecom industry by providing a virtual workspace to accelerate business growth.
 

Asia Pacific market size is expected to grow rapidly during the forecast period

Asia Pacific collaboration software market is predicted to show a growth rate of over 20% through 2026 impelled by growing demand for improving enterprise communication infrastructure and supportive government initiatives for transforming ICT infrastructure in the region.
 

The outbreak of COVID-19 epidemic in major developing countries, such as China, India, and Japan, is accelerating the market demand. The increasing adoption of cloud computing services is also supporting market growth in the region. The growing popularity of work-from-home trend across startups and SMEs is also fueling the demand for collaboration software solutions.
 

Major industry players are focusing on upgrading their collaboration software solutions

Industry players are emphasizing on upgrading their products to enhance the capabilities of their collaboration software solutions and gain a competitive advantage over other market players. For instance, in December 2019, Zoom Communications, a leading provider of collaboration software solutions, released a new version of Zoom Rooms, a digital collaboration and meeting application. This allowed the company to provide more enhancements and features, such as advanced call support and companion whiteboards, for its meeting solutions.
 

The major companies operating in the market are AT&T Inc., Atlassian Corporation Plc, AudioCodes Ltd., Avaya Inc., Blackboard Inc., BOX, Inc., Cisco Systems Inc., Citrix Systems Inc., Google LLC, IBM Corporation, LogMeIn, Inc., Micro Focus International plc, Microsoft Corporation, OpenText Corporation, Oracle Corporation, Polycom, Inc., Slack Technologies, Inc., SMART Technologies, TeamViewer GmbH, Zoho Corporation Private Limited, and Zoom Video Communications, Inc.
 

The market research report on collaboration software includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:
 

Market by Component

• Solution
  • Conferencing
  • Content Sharing
  • Project Management
  • Enterprise Social Networking
  • Messaging
• Service
  • Professional Services
  • Managed Services

Market by Deployment Model

• On-premise
• Cloud

Market by Organization Size

• SMEs
• Large Enterprises

Market by Application

• BFSI
•  IT and Telecom
• Retail and Consumer Goods
• Healthcare
• Education
• Government
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • Singapore
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • UAE
  • Saudi Arabia