Global Enterprise Collaboration Market

Enterprise collaboration is defined as the platform wherein different organizations and workers can partake in correspondence between different departments and enterprises, providing users with all of the tools required for interacting with each other. This platform is also responsible for organizing various different programs which helps in blending of different enterprises.

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The main factors behind the growth of the market are:

• Optimal productivity and performance of enterprise collaboration: Due to the sharing of knowledge, information and market practices amongst individuals and enterprises on this platform it enables greater productivity in their own fields. They can be made aware regarding the best method of service provision or product development with the help of enterprise collaboration platforms
• Flexibility and agility for businesses: Adoption of these platforms for the enterprise operations helps promote greater flexibility and enhances the agility of different departments regarding the communication tools and interconnectivity solutions. Enterprise collaboration provides them with a streamlined connectivity platform wherein a number of influential individuals and enterprises can organize meetings and informal as well as formal communications which can result in enhancement of profitability

The market is segmented on the basis of component as solutions, services; deployment type as cloud, on-premises; organization size as large enterprises, small enterprises, medium enterprises; vertical as IT & telecommunications, BFSI, public sector, power & utilities, education, healthcare, retail & consumer goods, travel & hospitality, transportation & logistics, others.

Some of the key market developments are as follows:

• In June 2018, Workstorm announced the availability of enterprise collaboration platform for legal users and applications. The beta version was launched of the platform alongside the announcement for various small and mid-sized law firms while a fifteen firms from Am Law 200 were also included in the users of the beta program. The beta-users will be provided with the full-scale platform availability in advance when it is commercially available. This platform will enhance the communication of law firms from their employees, clients, associates and even opposing counsel in the same platform
• In May 2018, Cisco announced that they had completed the acquisition of Accompani, Inc. based in California, United States as well as having offices in Oregon, United States dealing in development of relationship platforms for different organizations. This acquisition will enhance the existing collaboration portfolio of Cisco by enhancing the databases of organizations

“According to Data Bridge Market Research, global enterprise collaboration market is expected to be growing at a healthy CAGR of 11.54% during the forecast period of 2019 to 2026”

Some of the major players operating in the market are Microsoft, Huawei Technologies Co. Ltd., VMware, Inc, Adobe, Mitel Network Corp, Atlassian, SAP SE, Slack TIBCO Software Inc, Plantronics, Inc.Salesforce.com Inc., IBM Corp., Cisco System Inc., Zoho Corporation Pvt. Ltd., Jive Software, Axero Solutions, LLC., Igloo Software., GlobalLogic, Smartsheet Inc., Deskera among others.

With the significant utilization of artificial intelligence (AI) and its large-scale penetration in various different systems and technologies the affected markets are witnessing the large-scale positive impacts that are associated with integrating AI in their product offerings. And this opportunity is being positively embraced by various solutions provider of enterprise collaboration platforms which helps them in providing a streamlined service model. This trend is expected to have a positive impact on demands of enterprise collaboration platform as it enhances the quality of service being provided to the customers.