Global Enterprise Collaboration Service Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 10.2% during a forecast period.
Global Enterprise Collaboration Service Market, By Region
Enterprise collaboration services are comprehensive abilities that allow employees in the organization to store, share, and jointly alter data and information with one another regardless of different geographic locations. Different technologies are comprised of enterprise collaboration like video conferencing, document sharing capabilities, groupware, and more.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The report contains a detailed list of factors that will drive and restrain the growth of the enterprise collaboration service market. Worldwide competition has forced manufacturing enterprises, particularly small and medium-sized enterprises i.e. SMEs, to upsurge their productivity and profitability through optimal resource utilization to fulfill market demands and achieve customers’ satisfaction. On the other hand, rapid alteration of business demands and especially manufacturing environments make resource utilization more and more erratic and unbalanced. The benefits of forming virtual enterprises enabled by information and communication technologies supply new ways in facilitating inter-enterprise manufacturing resource sharing and so enhancing the profitability of SMEs. However, a major challenge in implementing such an environment is based on the integration of various hardware and software platforms.
Market Opportunities: The use of social media for business has increased significantly in the recent past as a means of coupling the power of social collaboration tools like Office 365 and Lync. These tools empower partners, employees, and create client engagement in real-time. So, vendors in the market are focused on building ecosystems to make social business integration compelling for organizations.
Various service providers are focused on integrating enterprise collaborative services with AI, In order to provide enhanced communication and collaborative services. Addition of AI and cutting-edge technology can allow enterprises to share data and information with other parties easily and offer enhanced services. The demand for AI-integrated enterprise collaborative services is expected to upsurge, because of growing adoption of IoT and machine learning in many businesses.
Market Trends: The report covers all the trends and technologies playing a major role in the growth of the enterprise collaboration services market during the forecast period. Vendors in the global enterprise collaboration service market are focused on expanding their offering by providing maintenance and integration service to end-use applications. Additionally, service providers are adoption central approach to capture, create, organize, access, and assess an organization’s whole enterprise ecosystem of media, knowledge assets, and electronic documents.
The report provides an in-depth segment analysis of the global enterprise collaboration service market, thereby providing valuable insights at micro as well as macro levels. By solution, video conferencing expected to grow at the highest XX% CAGR during the forecast period owing to the demand for video conferencing is high as compared to many other solutions. However, there are high chances that the demand in the mobility/telephony segment might overtake video conferencing segment.
North America enterprise collaboration services market was valued at US$ XX Mn in 2019 and is expected to reach a value of US$ XX Mn by 2027, with a CAGR of XX% during the forecast period. This is because of the U.S being an early adopter of technology, growing adoption of cloud platforms, and AI. The US was one of the major investors within the ICT industry and has invested an amount of US$ X.3 Trillion in 2019. Additionally, China is expected to be the second main geographical ICT market, since the country has made an investment of US$ XX Bn in 2019 and is expected to significantly grow at a CAGR of X.2% through 2027.
Competitive analysis and Mergers & Acquisitions:
Key players in the enterprise collaboration services market are focused on collaboration and partnership, in order to enhance the market presence. Like in 2019, IBM Corporation collaborated with AT&T Company where AT&T communication will use IBM’s expertise to modernize AT&T Business Solutions’ internal software application.
The entry of new players is expected to increase competition among the players. Leading players are engaged in R&D activities and are also focusing on using various organic and inorganic business development strategies. Some of the leading players in the market include Cisco System Inc., IBM Corporation, HP Corporation, Nokia Network and others.
The objective of the report is to present a comprehensive analysis of the Global Enterprise Collaboration Service Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Enterprise Collaboration Service Market dynamics, structure by analyzing the market segments and projects the Global Enterprise Collaboration Service Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Enterprise Collaboration Service Market make the report investor’s guide.
Scope of the Global Enterprise Collaboration Service Market
Global Enterprise Collaboration Service Market, By Type
Global Enterprise Collaboration Service Market, By Solution
• Video Conferencing
• Contact Center
• Collaborative Tool
o Application Sharing
o Web Services
o Search Services
o Office Suite
o Resource Management
o Process Management
o Business Intelligence
Global Enterprise Collaboration Service Market, By Application
• Banking, Financial services and Insurance (BFSI)
• Information Technology
• Media and Entertainment
• Other (Transportation and Manufacturing)
Global Enterprise Collaboration Service Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Enterprise Collaboration Service Market
• Nokia Networks
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