SINGAPORE, May 21, 2012 /PRNewswire/ -- Asia Pacific, with its large Gen-Y population, has become the fastest growing region of social networking users in the world. Southeast Asian countries such as Philippines and Malaysia have already achieved penetration rates of as much as 85 percent for popular social networking sites. Social media platforms are becoming rapidly commercialized due to the escalating need for social interaction between businesses and customers to promote products and services.
However, free-to-use consumer social networks and the Internet regulation in countries such as India and China, which offer only limited access to social media platforms, have slowed regional adoption of these global platforms. The deployment of localized versions of Facebook and Twitter in these countries could limit the impact of the regulations on the market.
New analysis from Frost & Sullivan (http://www.enterprise.frost.com), Enterprise Social Media and Web 2.0 Market 2010, finds that the market experienced more than 20 percent growth. It generated revenues of $28.6 million in 2010 and is expected to touch $126 million in 2017.
Businesses are often reluctant to implement enterprise social media and Web 2.0 applications due to the lack of successful deployment cases. Most social media platforms have long ROI periods, which deter enterprises that are only seeking short-term benefits. Companies should adopt easily measurable key performance indicators (KPIs) to gauge the utility of enterprise social media and Web 2.0 applications in their day-to-day operations.
"Easily measurable KPIs will help decision makers to justify the investment in enterprise social media applications," says Frost & Sullivan Research Analyst Jessie Yu. "A KPI that can be easily measured is the increase in intercompany communication and knowledge sharing, which is a clear indicator of the breakdown of information silos in a company."
Service providers will also be pleased by the growing need of mobile workers to readily access information through an online knowledge portal. Technology vendors have been bundling collaboration solutions with their other core communication offerings to provide an integrated experience to consumers. This trend has gained pace with vendors trying to break into the collaboration space by tapping their existing customer base.
"With many enterprises having a geographically dispersed employee base, there is a need for knowledge/content management solutions to be accessible via the internet," notes Yu. "This will bolster the adoption of enterprise social media and Web 2.0 application among enterprises across geographies."
If you are interested in more information on this study, please send an e-mail with your contact details to Jessie Loh, Corporate Communications, at email@example.com.
Enterprise Social Media and Web 2.0 Market 2010 is part of the Enterprise Communications Growth Partnership Services program, which also includes research in the following markets: Asia Pacific Video Conferencing Endpoints Market, Asia Pacific Video Conferencing Infrastructure Market, Asia Pacific Telepresence Market, Asia Pacific Audio and Video Conferencing Services Market, and Asia Pacific Web Conferencing Software and Services Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Director - Corporate Communications, Asia Pacific
DID: +61 (0) 8247 8927
M: +61 (0) 407 598 937
F: +61 (0) 2 9252 8066
Manager, Corporate Communications, Asia Pacific
DID: 65 6890 0942
M: 65 9677 3360
SOURCE Frost & Sullivan