The increasing use of mobile devices for collaboration is the crucial aspect of the rise in the market revenue of Enterprise Collaboration as well as the growing use of networking websites will foster market growth
JERSEY CITY, N.J., Oct. 11, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Enterprise Collaboration Market" By Deployment Type (Cloud-based and On-premise), By Application (Communication Tools, Coordination Tools), By End User (Hospitals and Diagnostic Laboratories, IT and Telecommunication), and By Geography. According to Verified Market Research, the Global Enterprise Collaboration Market size was valued at USD 29.45 Billion in 2020 and is projected to reach USD 53.26 Billion by 2028, growing at a CAGR of 8.83% from 2021 to 2028.
The key drivers of this market include increased focus of organizations on improving collaboration and communication across several stakeholders that are located at different geographies, need to unify internal and external collaboration in a single space and widespread usage of social networking websites.
The increase within the got to simplify the communication process is predicted to drive the enterprise collaboration market. Most enterprises plan for business expansion, which demands effective collaboration solutions such as document management, mobile collaboration, and social collaboration. The increase in the trend of BYOD and enterprise mobility across all major regions boosts the demand for such solutions.
However, a huge amount of implementation is hindering the growth of the market. Additionally, a complication in respond E-Discovery and legal risks is hampering the growth of the market. Moreover, data collaboration security issues due to several software methods are restricting the growth of the market.
Microsoft partnered with Morgan Stanley in June 2021 to help accelerate its digital transformation. Morgan Stanley would be provided with Microsoft Azure, which provides data protection and aids in the firm's cloud transformation.
In May 2021, Google announced a partnership with SpaceX to provide secure global connectivity via SpaceX's Starlink, which will provide high-speed connectivity across Google Cloud's infrastructure. Businesses would have seamless and secure access to the cloud as a result of this.
The major players in the market are Adobe Systems, Cisco Systems, Facebook, IBM, Igloo Software, VMware, Microsoft, Atlassian, Google, and Slack Technologies.
Verified Market Research has segmented the Global Enterprise Collaboration Market On the basis of Deployment Type, Application, End User, and Geography.
Enterprise Collaboration Market, By Deployment Type
Enterprise Collaboration Market, By Application
Enterprise Collaboration Market, By End-User
Hospitals and Diagnostic Laboratories
IT and Telecommunication
Enterprise Collaboration Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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