(MENAFN- Ameliorate Digital Consultancy)
According to the given report, collaboration software market revenue is likely to surpass 30 billion over 2020-2026, increasing at a rate of 14% through 2026. It includes important information on the current market situation, evolving technologies, robust competitive landscape, industry strategies, future growth opportunities, and market segmentations.
Mounting need for remote management and interoperability of projects across businesses could massively aid the industry growth. Businesses have started to evolve, with numerous enterprises looking for an effective system to share their critical information with third-party business partners. This has fueled the adoption of cloud-based groupware services.
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On the regional landscape, North America is considered to be an ideal region for collaboration software companies, since it has held a substantial share of the global market share in 2019. The region is expected to show healthy growth over the predicted timeframe. North America is renowned for its rich presence of tech enterprises like Google LLC, Slack Technologies, and IBM Corporation.
Large scale organizations across the region are implementing collaboration software in their business models for large project management. Taking June 2019 for instance, Microsoft Corporation released a partner-to-partner collaboration system in its partner network. This would simplify the process of delivering cloud-based solutions and integrating partner technology.
In terms of application, the collaboration software market is bifurcated into IT & telecommunications, BFSI, education, healthcare, retail & consumer goods, and government. Out of these, the education segment is projected to maintain a compound annual growth rate of 13% by 2026. The ongoing coronavirus crisis has affected the workflow of educational institutions.
Universities and colleges are therefore turning towards collaboration software for delivering quality educational services to students. For example, earlier in March 2020, Avaya Holdings Corp. offered its Avaya Spaces collaboration software to universities and colleges for free. This allowed educational institutes to resume their daily classes and deliver education to students.
In a bid to improve consumer base and market share, collaboration software market players are constantly focusing on developing innovative software solutions by partnering with prominent tech companies. Citing an instance, in June 2019, Oracle Corporation and Microsoft Corporation joined forces to integrate Oracle Cloud and Azure. Both the firms have jointly designed a cloud-based interoperability system for businesses.
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Partial Chapter of the Table of Content
Chapter 7. Collaboration Software Market, By Organization Size
7.1. Key trends, by organization size
7.2.1. Market estimates and forecast, 2015 – 2026
7.3. Large Enterprises
7.3.1. Market estimates and forecast, 2015 – 2026
Chapter 8. Collaboration software Market, By Application
8.1. Key trends, by application
8.2.1. Market estimates and forecast, 2015 – 2026
8.3. IT & telecom
8.3.1. Market estimates and forecast, 2015 – 2026
8.4. Retail and consumer goods
8.4.1. Market estimates and forecast, 2015 – 2026
8.5.1. Market estimates and forecast, 2015 – 2026
8.6.1. Collaboration software Market estimates and forecast, 2015 – 2026
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