Report Ocean is a comprehensive analysis of the “Accounting Software Market” that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.
Global Enterprise Collaboration Market Surge: USD 133.6 Billion in 2021, Poised for Steady Growth of Over 20% CAGR Through 2030
Refreshed Content:
Enterprise collaboration entails individuals within an organization working collectively to achieve common goals through various tools and technologies. It involves the sharing of information, ideas, and resources to enhance productivity, streamline workflows, and foster innovation. The Enterprise Collaboration market is witnessing expansion due to factors such as the increasing number of SMEs and the growing adoption of cloud technology. The demand for Enterprise Collaboration has progressively increased in the international market during the forecast period from 2023 to 2030.
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Market Dynamics:
SMEs often operate in niche markets or focus on specific industries, bringing unique perspectives and expertise to the table. When collaborating with larger enterprises, their specialized knowledge can lead to innovative solutions and insights that might not have been considered otherwise. According to Statista, there were estimated to be approximately 332.99 million SMEs worldwide in 2021. Furthermore, the continent with the most SMEs was Asia having 186.1 million in 2021. Another important factor that drives the Enterprise Collaboration market is the increasing adoption of the cloud.
Cloud-based collaboration tools often include communication features such as instant messaging, video conferencing, and team chat, fostering real-time and direct communication among team members. In addition, as per Statista, in 2021, the global cloud applications market accounts for USD 133.6 billion and is expected to reach up to USD 168.6 billion by 2025. Moreover, the rising trend of remote work and increasing usage of smartphones are anticipated to create lucrative growth opportunities for the market over the forecast period. However, data privacy concern and the technical complexity of enterprise collaboration is going to impede overall market growth throughout the forecast period of 2023-2030.
Key Regions:
In 2022, North America dominated the market due to the presence of key players and the increasing adoption of enterprise collaboration solutions and services. The region’s dominant performance is expected to drive overall demand. Asia Pacific is anticipated to experience the fastest growth during the forecast period, supported by government initiatives to promote digital infrastructure.
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Major Market Players:
Key players in this market include Salesforce, Inc., Citrix Systems, Inc., Cisco Systems, Inc., Atlassian Corporation Plc, Meta Platforms, Inc., Adobe Inc., Microsoft Corporation, Alphabet Inc., International Business Machines Corporation, and VMware, Inc.
Recent Developments News:
- In February 2023, Cisco and NTT Ltd., a global provider of IT infrastructure and services, collaborated to accelerate Private 5G adoption in various sectors. The companies aim to present technologies and managed services that enable enterprise clients to successfully implement Private 5G for improved business outcomes. This collaboration integrates NTT’s Managed Private 5G solution with Intel hardware, facilitating the incorporation of private 5G into existing infrastructure.
Objective of the Study:
The study aims to define market sizes of different segments & countries in recent years and forecast values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report provides detailed information about crucial aspects such as driving factors, challenges, potential opportunities in micro markets, competitive landscape analysis, and product offerings of key players. The detailed segments and sub-segments of the market are explained below:
By Type:
- Solution
- Service
By Organization Size:
- SMEs
- Large Enterprises
By Deployment Mode:
- On-premises
- Cloud
By End Users:
- IT and Telecommunication
- BFSI
- Healthcare and Life Sciences
- Energy and Utilities
- Others
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By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Report Scope:
- Historical Data: 2020 – 2021
- Base Year for Estimation: 2022
- Forecast Period: 2023-2030
- Report Coverage: Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
- Segments Covered: Type, Organization Size, Deployment Mode, End Users, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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Key Questions Answered by the Report:
- What are the driving factors for market growth?
- What challenges and limitations does the market face?
- What emerging opportunities exist in the market?
- What potential threats and risks could impact the market?
- What is the current market size and growth rate?
- What are the market segments and their sizes?
- Which regions are projected to experience the highest growth and market share?
- What variables affect different geographical areas?
- Who are the major players in the market and their rankings?
- What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
- What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
- What is the present market outlook, considering recent changes and growth possibilities?
- What are the drivers, obstacles, and restrictions in both developing and emerging regions?
- How does the market analysis utilize Porter’s five forces analysis?
- How does the Value Chain provide insights into market dynamics?
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