Team Collaboration Software Market size was estimated at $16.7 Million in 2019 and is expected to reach $83.6 Million by 2027, growing at a CAGR of 25.9% during the forecast period of 2020 to 2027.
Team Collaboration Software Market Growth Factors
Team Collaboration Software Market Segmentation
Team Collaboration Software Market Country Analysis
Team Collaboration Software Market Share and Competition
Key companies operating in this industry are IBM Corporation, Microsoft Corporation, Oracle Corporation, Cisco System Inc., Slack Technologies, Inc., Mindmeld Inc., Citrix Systems Inc., AT&T Intellectual Property, Google (Alphabet Inc.), SMART Technologies ULC, LogMeIn, Inc. BOX, Inc. Team Viewer GmbH, Zoom Video Communications, Inc.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• 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
Component Analysis (Revenue, USD Million, 2020 - 2027)
• Solutions
o Conferencing
o Communications
o Task Management
o File sharing & Synchronization
o Enterprise Social Network
• Services
• Professionals Services
o Integration and Implementation
o Support and Maintenance
o Training and Education
• Managed Services
Development Analysis (Revenue, USD Million, 2020 - 2027)
• On-premise
• Cloud
Organization Size Analysis (Revenue, USD Million, 2020 – 2027
• SMEs
• Large Enterprises
End-User Analysis (Revenue, USD Million, 2020 – 2027
• BFSI
• IT & Telecommunications
• Manufacturing
• Retail & Consumer Goods
• Healthcare
• Others
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Team Collaboration Software Market Companies
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Cisco System Inc.
• Slack Technologies, Inc.
• Mindmeld Inc.
• Citrix Systems Inc.
• AT&T Intellectual Property
• Google (Alphabet Inc.)
• SMART Technologies ULC
• LogMeIn, Inc.
• BOX, Inc.
• Team Viewer GmbH
• Zoom Video Communications, Inc.
Available Versions:-
United States Team Collaboration Software Industry Research Report
Europe Team Collaboration Software Industry Research Report
Asia Pacific Team Collaboration Software Industry Research Report
Team Collaboration Software is a visionary way to implement meetings and conferences in a virtual environment. It also lays the first stone to act as a manual in organizing and implementing details, projects and analysis. Emerging as an anchor to the majority of high-end ventures and companies, The Global market of Team Collaboration Software Has raised the bar and set the standards high.
The Global market has gained huge thrust in demands due to the awareness of the Team collaboration software, Transparency in process, organized process of meetings, and boosted convenience have propelled the market by fourfold. The video and audio conference options in Team collaboration software along with extended geographical expansion has also contributed to the growth of the Target Market. Also, The virtual world and its fraternities are in high demand and the need of community heads to manage and keep a track record of each employee has led to more surge in demands to the Team Collaboration Software market. The software has found space in multiple sectors as BFSI, IT, Telecommunication, manufacturing, retail and healthcare facilities, it has gained the attention of the high-end service providers due to its integrated, transparent and organized system of collaborative meetings and discussions. These demands would yield good revenue in the manufacturing sectors. The market is also gaining traffic due to increased demand of Artificial Intelligence-based software. Todays work environment is knitted with an interactive and cooperative team which is possible to yield in Team collaboration software. The restraint factors can include extravagant prices of all collaborative tools which are not affordable by all employees and a lack of idea of the functionality of the software. However, Fostering creativity in tools, spreading awareness about digitalization and explaining proper working can yield streamline growth in the market.
Microsoft teams has a major role in today’s team collaboration softwares being used worldwide. Zoom on the other hand took a great loss, after having a massive profit amid the pandemic, due to security reasons. Microsoft took this chance and boosted their softwares to be used world-wide professionally during the first quarter of 2020.
Asana took a huge step in June 2020 by announcing its work management software collaborating with Microsoft Teams. Alex Hood, Head of Product at Asana, stated, “Insights from Asana’s Anatomy of Work: Remote Teams index show that nearly two-thirds of workers have increased their use of collaboration tools since moving to remote and distributed work, with one in five using these tools for the first time.”
Cisco’s WebEx is currently working on improvements in its software by increasing its security. Cisco announced that IT will be enabled by WebEx Control Hub to put a Content Retention Policy in action. Cisco also mentioned that it will be integrating the software with its Cloudlock CASB. WebEx has also introduced some new key features which include DLP, Retention, Legal Hold and e-Discovery.
