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Team Collaboration Software Market - Forecast(2024 - 2030)
Overview
The market for Team Collaboration Software is forecast to reach $18.45 billion by 2025, growing at a CAGR of 11.4% from 2020 to 2025. Increasing need to share and digitize visual data provides an opportunity for business development. Integrating web conference applications with other communication tools improves collaboration solutions' flexibility and provides the ability to effectively communicate among participant participants. Additionally, organizations have started realizing the benefits of leveraging affordable video conferencing solutions, which is facilitating wide-scale adoption of team collaboration software.
Report Coverage
The report: “Team Collaboration Software Market– Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Team Collaboration Software Market.
By Delivery Model – On-premise, SaaS
By Vertical – BFSI, Communications & Media, Manufacturing, Government, Healthcare, Wholesale & Retail, Services, Transportation, Utilities & Resources, Others
By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Australia and Others), and RoW (Middle east and Africa)
Key Takeaways
- North America dominated the global market for team collaboration software, with a share of 38.9% in 2019 attributed to an incrementing trend amongst corporations to increase IT budgets to transform legacy communication systems and enhance employee productivity.
- The on premise delivery model segment captured 55.05% revenue share of the team collaboration software market in 2019 as it delivers more secure medium of meeting compliance and data security issues than the SaaS model.
- The implementation of work from home strategy for continual operational practices, and the subsequent need to collaborate with various team members and other cross-functional teams is providing an impetus to the market growth.
- The growing use of video conferencing applications offers security challenges for users, which is one of the major obstacles hindering the growth of team collaboration software market.
Delivery Model - Segment Analysis
The on premise delivery model segment captured 55.05% revenue share of the team collaboration software market in 2019, as it delivers a secure medium of meeting compliance and data security issues. On-premise solutions ensure low latency in data transfer rates, which in return aids organizations in practicing cost-effective data management. The adoption of on-premise deployment mitigates the need to invest in expensive internet plans, which offers cost-saving opportunities to organizations and also ensures continual operational practices in cases of a data outage. Such solutions also provide the ability to exercise greater control on server hardware along with flexible customization of storage distribution.
Vertical - Segment Analysis
The market is segmented by vertical into BFSI, Communications & Media, Manufacturing, Government, Healthcare, Wholesale & Retail, Services, Transportation, and Utilities & Resources among Others. The Communications & Media segment dominated the market in 2019. The increased need for efficient coordination among team members during the lockdown period is creating lucrative team collaboration software market growth opportunities in IT and communications vertical. Team collaborations are helping organizations to improve productivity, secure document sharing and efficient coordination between departments. Rising adoption of Unified Communication as a Service (UCaaS) amongst IT companies to facilitate efficient communication and collaboration is offering an impetus to the market growth. Telecom companies, including AT&T Inc., have started collaborating with OTT media streaming providers to offer value-added services to their customers, which augments the need to deploy team collaboration software between OTT service providers and the company. Furthermore, rising demand amongst companies in this sector to indulge in video conferencing to facilitate knowledge sharing is also acting as a major driving factor for the market growth.
Geography - Segment Analysis
North America dominated the global market for team collaboration software, with a share of 38.9% in 2019. This can be attributed to an incrementing trend amongst corporations to increase IT budgets to transform legacy communication systems and enhance employee productivity. Enterprises are also increasing IT spend on account of enhanced security measures such as encryption of end-to-end data transfer, and access, which is expected to impact the market growth positively. Additionally, the growing penetration of high-speed internet in several households is facilitating employee flexibility, thereby increasing the demand for this software in the region. Asia Pacific is expected to witness the fastest growth over the forecast period. The growth can be attributed to a rise in several investments in infrastructure, cloud service providers, and smartphone users. Rapid industrialization in countries, such as India and Japan, due to improved government initiatives such as the Make in India and Startup India initiatives, and the new immigration bill passed in Japan in 2018; is further augmenting the need to develop efficient team collaboration systems. Additionally, changes in FDI policies in countries such as Singapore, Indonesia, and India are promoting corporations to open up centers in these regions, which facilitate the need to deploy effective collaboration solutions on an organizational scale.
Drivers – Team Collaboration Software Market
Advent of 5G Delivery Model
One of the major factors that has boosted the adoption of team collaboration is the advent of 5G delivery model. Rising demands of clients and increasing remote workforce facilitate the requirement to be connected and be productive, which can be achieved by leveraging 5G technology. The provision of high-speed internet offers the ability to indulge in seamless video conferencing, superior VoIP experience, and faster data processing and transfer rates. Organizations are preparing to introduce 5G by investing in a flexible network, which can adapt to new collaboration and communications tools. The adoption of upgraded software with 5G capability is expected to trigger the market growth over the next few years.
Growing trend among organizations to implement smart meeting rooms
The growing trend among organizations to implement smart meeting rooms is offering exciting prospects to market growth. Modern and innovative technologies enable corporations to facilitate seamless connectivity amongst their workforce, which boosts productivity, fosters creativity, and gives companies a competitive edge against their peers. Meeting rooms equipped with integrated smart control panels enhance meeting experiences by simplifying and consolidating input commands, which facilitates better user experience and encourages positive collaboration. Furthermore, these tools offer the ability to record meetings for participants to follow up and take points from a previously conducted meeting.
Work from Home policy due to emergence of Covid-19 pandemic
The global pandemic, COVID-19 (coronavirus), offers significant growth aspects to the market. Emerging regulations from government bodies to practice social distancing due to the highly contagious nature of the disease has promoted companies to increasingly deploy work-from-home (WFH) business practices. The implementation of these strategies for continual operational practices, and the subsequent need to collaborate with various team members and other cross-functional teams is providing an impetus to the market growth.
Challenges – Team Collaboration Software Market
Security Issues
Furthermore, the emerging need amongst enterprises and SMEs to conduct video conferences to ensure continual and efficient business processes is further aiding the market growth. However, the growing use of video conferencing applications offers security challenges for users. Rising instances of hacking by individuals with malicious intent deters growth opportunities. Furthermore, a globally slowing economy restricts companies from investing in IT-related infrastructure, which may act as a challenge for industry growth.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Team Collaboration Software Market. Team Collaboration Software driver market is expected to be dominated by major companies such Adobe Systems (The U.S), AT&T (The U.S), Avaya (The U.S), Citrix Systems (The U.S), Cisco Systems (The U.S), YAHOO (The U.S), Smart Technologies (Canada), Unify Software and Solutions GmbH & Co. KG (Germany), Polycom (The U.S), Novell (The U.S), Microsoft Corporation (The U.S), IBM (The U.S), Oracle Corporation (The U.S), Blackboard (The U.S), AudioCodes (TIsrael) and Radisys (The U.S) among others.
Acquisitions/Technology Launches/Partnerships
- September 2018 – Astro was acquired by Slack for helping about more than 12M Daily Active Users (DAU) and over 100k paid customers by simplifying the job of moving conversations from an email into Slack. The company is planning its strategic acquisition for improving the regular customer experience in terms of slack application.
- July 2019 –A new Unified Communications (UC) product, namely Grasshopper Connect, was launched by LogMeln, Inc. This product is designed for providing all types of business communications in a single and easy-to-use application format to small businesses. This will further help to strengthen the Unified Communications portfolio on the one hand and help business management easier for small companies on the other.
1. Team Collaboration Software Market - Overview
1.1 Definitions and Scope
2. Team Collaboration Software Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Team Collaboration Software Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Team Collaboration Software Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Team Collaboration Software Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Team Collaboration Software Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Team Collaboration Software Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
8. Team Collaboration Software Market - By Product Type (Market Size -$Million / $Billion)
8.1 Market Size and Market Share Analysis
8.2 Application Revenue and Trend Research
8.3 Product Segment Analysis
9. Team Collaboration Software Market - BY DELIVERY MODEL (Market Size -$Million / $Billion)
9.1 ON-PREMISES MODEL
9.2 SAAS (SUBSCRIPTION BASED SERVICE)
10. Team Collaboration Software - BY VERTICALS (Market Size -$Million / $Billion)
10.1 Segment type Size and Market Share Analysis
10.2 Application Revenue and Trends by type of Application
10.3 Application Segment Analysis by Type
10.4 BANKING, FINANCIAL SERVICES & INSURANCE
10.5 COMMUNICATIONS & MEDIA
10.6 MANUFACTURING (DISCRETE & PROCESS)
10.7 GOVERNMENT
10.8 HEALTH
10.9 WHOLESALE & RETAIL
10.10 SERVICES
10.11 TRANSPORTATION
10.12 UTILITIES & RESOURCES
10.13 OTHERS (CONSTRUCTION & EDUCATION
11. Team Collaboration Software- By Geography (Market Size -$Million / $Billion)
11.1 Team Collaboration Software Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 Team Collaboration Software- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Team Collaboration Software- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 Team Collaboration Software - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong kong
11.8.5.9 Rest of APAC
11.9 Team Collaboration Software - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Team Collaboration Software Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Team Collaboration Software Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at global level - Top 10 companies
13.1.6 Best Practises for companies
14. Team Collaboration Software Market - Key Company List by Country Premium
15. Team Collaboration Software Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 ADOBE
15.3 AT
15.4 AUDIOCODES
15.5 AVAYA INC
15.6 BLACKBOARD INC
15.7 CITRIX SYSTEMS
15.8 GLOBAL CROSSING
15.9 GOOGLE
15.10 IBM
15.11 METASWITCH
15.12 MICROSOFT
15.13 MITEL
15.14 NOVELL
15.15 OPENTEXT
15.16 ORACLE
15.17 PGI
15.18 POLYCOM
15.19 RADISYS
15.20 SIEMENS ENTERPRISE COMMUNICATIONS GMBH & CO KG
15.21 SMART TECHNOLOGIES INC.
15.22 WEST CORP.
15.23 WYDE VOICE
15.24 YAHOO
15.25 Company 24
15.26 Company 25 & More
*Financials would be provided on a best efforts basis for private companies
16. Team Collaboration Software Market - Appendix
16.1 Abbreviations
16.2 Sources
17. Team Collaboration Software Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends
LIST OF TABLES
LIST OF FIGURES
1.US Team Collaboration Software Market Revenue, 2019-2024 ($M)2.Canada Team Collaboration Software Market Revenue, 2019-2024 ($M)
3.Mexico Team Collaboration Software Market Revenue, 2019-2024 ($M)
4.Brazil Team Collaboration Software Market Revenue, 2019-2024 ($M)
5.Argentina Team Collaboration Software Market Revenue, 2019-2024 ($M)
6.Peru Team Collaboration Software Market Revenue, 2019-2024 ($M)
7.Colombia Team Collaboration Software Market Revenue, 2019-2024 ($M)
8.Chile Team Collaboration Software Market Revenue, 2019-2024 ($M)
9.Rest of South America Team Collaboration Software Market Revenue, 2019-2024 ($M)
10.UK Team Collaboration Software Market Revenue, 2019-2024 ($M)
11.Germany Team Collaboration Software Market Revenue, 2019-2024 ($M)
12.France Team Collaboration Software Market Revenue, 2019-2024 ($M)
13.Italy Team Collaboration Software Market Revenue, 2019-2024 ($M)
14.Spain Team Collaboration Software Market Revenue, 2019-2024 ($M)
15.Rest of Europe Team Collaboration Software Market Revenue, 2019-2024 ($M)
16.China Team Collaboration Software Market Revenue, 2019-2024 ($M)
17.India Team Collaboration Software Market Revenue, 2019-2024 ($M)
18.Japan Team Collaboration Software Market Revenue, 2019-2024 ($M)
19.South Korea Team Collaboration Software Market Revenue, 2019-2024 ($M)
20.South Africa Team Collaboration Software Market Revenue, 2019-2024 ($M)
21.North America Team Collaboration Software By Application
22.South America Team Collaboration Software By Application
23.Europe Team Collaboration Software By Application
24.APAC Team Collaboration Software By Application
25.MENA Team Collaboration Software By Application
26.ADOBE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.AT, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.AUDIOCODES, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.AVAYA INC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.CITRIX SYSTEMS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.BLACKBOARD INC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.GLOBAL CROSSING, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.GOOGLE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.IBM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.METASWITCH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.MICROSOFT, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.MITEL, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.NOVELL, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.OPENTEXT, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.ORACLE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
41.PGI, Sales /Revenue, 2015-2018 ($Mn/$Bn)
42.POLYCOM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
43.RADISYS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
44.SIEMENS ENTERPRISE COMMUNICATIONS GMBH & CO KG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
45.SMART TECHNOLOGIES INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
46.WEST CORP., Sales /Revenue, 2015-2018 ($Mn/$Bn)
47.WYDE VOICE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
48.YAHOO, Sales /Revenue, 2015-2018 ($Mn/$Bn)