Enterprise Collaboration Services Market to Grow at an Estimated CAGR of 8.5% During the Forecast Period 2022-2030

31 Dec 2019

The latest market report published by Acute Market Reports “Enterprise Collaboration Services Market: Growth, Future Prospects, and Competitive Analysis, 2023 - 20230” the enterprise collaboration services market was valued at US$ 41.10 Mn in 2021 and expected to grow at a CAGR of 8.5% during the forecast period from 2023 to 20230.

Market Insights

Investment in platforms, devices and software ecosystem will spur revenue growth throughout the forecast period

Hyper-competitive business environment demands new ways for collaboration. The global technological and economic trends, including mobility, globalization, cloud, and big data are accelerating the demand of enterprise collaboration service market. In addition, the combination of factors including AI, the proliferation of smartphone devices, and growing usage of networking websites are also propelling the enterprise collaboration services market growth.

Business communication processes are becoming swifter and advanced, on account of evolving technologies, including APIs integration, and cloud platforms which are some of the key drivers for enterprise collaboration services market. Enterprises are stirring towards a user-friendly API cloud platform that includes tools, such as sandbox, sample code, and dashboards.

Key Market Movements

• Globally, the enterprise collaboration services market is growing at a CAGR of more than 8.5% for the period from 2023 to 20230

• North America is the largest revenue contributing region to the enterprise collaboration services market with more than 1/3rd of total market revenue. This is due to the U.S. being an early adopter of technology, rising adoption of cloud platforms, and AI.

• To build internal and external knowledge banks, organizations, public organizations in the U.S. including the US Department of Defense and US Joint Forces Command, among others have started to use the collaborative technologies.

• The cloud-based deployment model is expected to be dominant and will fuel the market growth in the upcoming years. This is due to the rapid adoption of cloud-based deployment model by all the large and small and medium enterprises (SMEs).

The Global Enterprise Collaboration Services Market is Segmented into:

ATTRIBUTE	DETAILS
Research Period	2020-20230
Base Year	2021
Forecast Period	2023-20230
Historical Year	2020
Unit	USD Billion
Segmentation	Service Type Segment (2020–20230; US$ Bn)
	Deployment Mode Segment (2020–20230; US$ Bn)
	Organization Size Segment (2020–20230; US$ Bn)
	End-use Vertical Segment (2020–20230; US$ Bn)
	Geography Segment (2020–20230; US$ Bn)