IMARC Group’s latest research report, titled “Team Collaboration Software Market Size: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global team collaboration software market reached a value of US$ 13.18 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 30.19 Billion by 2027, exhibiting a CAGR of 14.20% during 2022-2027.Team collaboration software aids in maximizing teamwork effectiveness by providing a central platform wherein employees can share knowledge, data, documents, etc., to solve specific business problems or complete creative projects together. It generally offers core features, such as social networking, document management, powerful search engines, task management, smooth user interfaces on any device, etc. Consequently, various organizations are incorporating team collaboration software solutions into their day-to-day business operations to allow teams to interact from any location on the cloud as well as enhance company productivity.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by components, software type, deployment and industry vertical.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Team Collaboration Software Market
- Strategies of major players and product offerings
The rising product utilization in the oil and gas industry to help in optimizing communication while removing the disconnect between teams, thereby saving time, improving safety for ground teams, identifying poor-performing workflows, etc., is primarily driving the team collaboration software market. Additionally, banks are embedding digital collaboration into process workflows, owing to the growing volumes of financial transactions, which is further catalyzing the market growth. Besides this, the elevating number of organizations adopting remote or hybrid working models is propelling the demand for team collaboration software to make remote work more transparent and maintain business continuity. Moreover, the escalating focus among healthcare firms on delivering better patient care while reducing costs is also augmenting the need for these software solutions to assist health workers in communicating and coordinating using mobile or desktop devices. This, in turn, is anticipated to fuel the team collaboration software market over the forecasted period.
Key Players Included in Global Team Collaboration Software Market Research Report:
- Adobe Inc.
- AT&T Inc
- Avaya Inc.
- Blackboard Inc. (Anthology Inc.)
- Cisco Systems Inc.
- Citrix Systems Inc
- International Business Machines Corporation
- Microsoft Corporation
- Open Text Corporation
- Oracle Corporation
- Slack Technologies LLC (Salesforce Inc.)
- SMART Technologies ULC (Hon Hai Precision Industry Co. Ltd.).
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Components:
- Solution
- Service
Breakup by Software Type:
- Conferencing
- Communication and Co-Ordination
Breakup by Deployment:
- On-Premises
- Cloud-based
Breakup by Industry Vertical:
- BFSI
- Manufacturing
- Healthcare
- IT and Telecommunications
- Retail and E-commerce
- Government and Defense
- Media and Entertainment
- Education
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Team Collaboration Software Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Team Collaboration Software Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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