Social Collaboration Software Market is segmented By Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), By Solution (Document Management System, Project And Team Management, Enterprise Social Collaboration), By Services (Software-as-a-service, Platform-as-a-service, Consulting, Maintenance and support), and By Industry Vertical (Retail, IT and telecom, Government, BFSI, Media And Entertainment, Manufacturing, and Others) and Region (United States, Canada, Mexico, South America, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, South Africa, Rest of World)
Social Collaboration Software Market size was estimated at $8.79 billion in 2020 and is expected to reach $16.60 billion by 2028, growing at a CAGR of 9.5% during the forecast period of 2021 to 2028.
Social collaboration software is specially designed to assist individuals or groups in interacting and sharing information to achieve common goals. Enterprises are increasingly focused on adopting social collaboration systems to interact one-on-one or one-to-many.
A single platform that provides an online or interactive work environment for a complete organization or department is referred to as social collaboration software. Enterprises may improve their job effectiveness and efficiency by allowing workers to effortlessly interact and interact with everyone via social collaboration tools or platforms. Cloud meetings and collaborative services provide organizations with a continuous connected experience as well as a full array of collaborative capabilities. Social collaboration software provides a platform for engaging and involving personnel, resulting in market growth. However, the widespread usage of the internet, which raises security threats, is a major impediment to industry expansion. Continuous technological improvements may be viewed as an opportunity for the prospective expansion of the social collaboration software industry.
The COVID-19 crisis has led businesses to accelerate their use of cloud-based services, including video conferencing and instant messaging software that enable organizations to connect and interact with employees worldwide while also ensuring their safety. Cloud-based technologies also enable distant teams to optimize business processes and manage projects of any scale without jeopardizing organizational efficiency. Simultaneously, software bots are deployed as virtual employees to assist remote teams with cooperation and communication activities.
Social Collaboration Software Market Growth and Trend
The sharp increase among businesses toward smart meeting rooms has created new chances for industry expansion. Corporates may use cutting-edge, creative technology to provide seamless communication, increase efficiency, and stimulate innovation, all while obtaining a competitive edge over their counterparts.
Meeting rooms with connected sensor control panels can simplify and condense input commands, promote active participation, and ultimately improve the meeting experience. Additionally, these tools enable participants to record sessions to follow up later and reference earlier sessions.
The integration of Artificial Intelligence (AI) with collaboration platforms enables organizations to automate and communicate better. AI has the potential to increase the accuracy of voice and chat assistants and aid in the real-time translation of communications.
The growing BYOD and workplace mobility trends enable users to connect from any distant place in the world. Together with the accessibility of smart devices like smartphones, tablets, and laptops, these growing trends enable employees to deliver live presentations, hold live meetings, and provide training from any distant location. This enables users to keep in contact with their clients and staff while also responding quickly due to their devices proximity. As a result, firms are placing a premium on business mobility and BYOD for a variety of reasons, including lower IT costs, better efficiency, and real-time answers.
By Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), By Solution (Document Management System, Project And Team Management, Enterprise Social Collaboration), By Services (Software-as-a-service, Platform-as-a-service, Consulting, Maintenance and support), and By Industry Vertical (Retail, IT and telecom, Government, BFSI, Media And Entertainment, Manufacturing, and Others)
Social Collaboration Software Market Segmentation
The social collaboration software market is segmented by deployment mode, solution, services, and industry vertical. Based on deployment mode, the market consists of public cloud, private cloud, hybrid cloud. By solution, the market is divided into document management system, project and team management, enterprise social collaboration. Based on services, the market is segmented into Software-as-a-service, Platform-as-a-service, consulting, maintenance, and support. Based on industry vertical, the market is divided into retail, IT and telecom, government, BFSI, media and entertainment, manufacturing, and others.
Social Collaboration Software Market Country Analysis
Due to the high prevalence of technology, the Asia Pacific area is likely to offer enormous prospects for the social collaboration software industry. Additionally, the increase in demand for social collaboration software is attributed to the regions firms, which are attempting to gain a competitive edge by focusing on providing a superior customer experience. Additionally, it is anticipated that improved decision-making inside organizations would raise demand for the market throughout the projection period.
North America is likely to provide development prospects throughout the projected period, owing to the existence of many cloud-based social collaboration software companies. The United States and Canada are fertile territories for the social collaboration software industry. The access to social collaboration software is increasing as the regions infrastructure capabilities improve.
Social Collaboration Software Market Share and Competition
The major players operating in the global social collaboration software market are Survey Monkey, Microsoft, Intralinks Holdings Incorporations, Cisco System, Oracle, Box incorporation, Google, Citrix, and IBM.
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• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Services Analysis (Revenue, USD Million, 2021 - 2028)
• Maintenance and support
Solution Analysis (Revenue, USD Million, 2021 - 2028)
• Document Management System
• Project And Team Management
• Enterprise Social Collaboration
Deployment Analysis (Revenue, USD Million, 2021 - 2028)
• Public Cloud
• Private Cloud
• Hybrid Cloud
Industry Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• IT and telecom
• Media And Entertainment
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o United States
• South America
o United Kingdom
• Asia Pacific
o South Korea
• Middle East
o GCC C ountries
o South Korea
• South Africa
• Rest of World
Social Collaboration Software Market Companies
• Survey Monkey
• Intralinks Holdings Incorporations
• Cisco System
• Box incorporation
• United States Social Collaboration Software Industry Research Report
• Europe Social Collaboration Software Industry Research Report
• Asia Pacific Social Collaboration Software Industry Research Report
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