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GLOBAL TEAM COLLABORATION SOFTWARE MARKET FORECAST 2021-2028

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GLOBAL TEAM COLLABORATION SOFTWARE MARKET FORECAST 2021-2028

Inkwood Research estimates that the global team collaboration software market is expected to reach $22.71 Billion by 2028, growing at a CAGR of 10.89% during the forecast period.

GLOBAL TEAM COLLABORATION SOFTWARE MARKET FORECAST 2021-2028

Global Team Collaboration Software Market by Deployment ( Cloud-based Deployment, on-premise ) Market by Type ( Conferencing Software, Communication & Coordination Software ) Market by Application ( Manufacturing, Bfsi, It & Telecom, Retail, Healthcare, Logistics & Transportation, Education ) and by Geography.

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Inkwood Research estimates that the global team collaboration software market is expected to reach $22.71 Billion by 2028, growing at a CAGR of 10.89% during the forecast period.

team-collaboration-software-market

Key drivers of the global team collaboration software market growth are:

  • Growing adoption of Cloud-Based SaaS
    • The increasing demand for SaaS in businesses has offered new growth opportunities for software organizations. Moreover, the diminishing barriers to entry in the SaaS market have allowed new players to enter the market space, resulting in intense competition. Additionally, machine learning and artificial intelligence have captured the SaaS landscape, which has enabled users to interact with software solutions.
    • The integration of AI with collaboration tools is at its initial stage. Still, the industry has witnessed several leading players, including Microsoft Corporation and Google Inc, invest significantly in their business productivity suits for integrating AI in their collaborative tools. Cloud-based collaboration provides real-time updates as the cloud automatically synchronizes and updates all the files. Cloud-based collaboration also acts as a centralized communication platform that facilitates better communication between various organization team members.
  • Increasing demand for conferencing & communication solutions
  • Advent of 5G delivery model

Major factors restraining the market growth are:

  • High initial capital costs
  • Growing security concerns
    • Companies are adopting technology tools that focus on communication and collaboration, since there is a rise in security concerns. Collaboration tools encompass many solutions, including VoIP, video conferencing, instant messaging, and document sharing, which gives rise to security risks inherent in these tools. These tools create security threats and vulnerabilities. Therefore there should be a careful section of tools that need to be integrated with the organizational system.

The report scope of the global team collaboration software market covers the segmentation analysis of deployment, type, and application.

Market by Application:

  • Manufacturing
  • Logistics & Transportation
  • IT & Telecom
    • IT & Telecom held the largest market share in the application segment in 2020.
    • The IT & telecom sector require collaboration tools from project management to communication to function smoothly. Instant messaging to video conferencing tools are used by companies to coordinate among teams. Synchronous or real-time collaboration software allows people to edit documents and view information even if they are from different countries or areas.
  • Retail
  • Healthcare
  • BFSI
  • Education

Geographically, the global team collaboration software market has been segmented on the basis of four major regions, which includes:

  • North America: The United States and Canada
  • Europe: The United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific
    • Asia-Pacific is estimated to record growth, projecting the highest CAGR during the forecast period.
    • The market growth is attributed to the increasing adoption of cloud & web conferencing across various sectors and the rising investments in team collaboration software. For instance, in the initial stages of COVID-19, Avaya teams and partners teamed up in China. The company donated video and audio equipment for hospitals in the region to help medical personnel perform video diagnostics and remote consultation.
  • Rest of World: Latin America, Middle East & Africa

The major players in the global team collaboration software market are:

  • IBM Corporation
  • Oracle Corporation
  • Slack Technologies Inc
  • Microsoft Corporation

Key strategies adopted by some of these companies:

In April 2020, Blackboard Inc launched the K-12 remote learning solution, which provides K-12 districts with the best practices and tools needed for transition to a virtual learning model.

Key trends of the global team collaboration software market:

  • Collaboration & conferencing reduces CO2 emissions, offering market growth opportunities.
  • Cloud-based is the fastest-growing deployment in the market.
  • The AR & VR technology in team collaboration software is beneficial to market growth.

Frequently Asked Questions (FAQs):

  • What are the drawbacks of on-premise solutions?

A: On-premise solutions’ drawbacks include limited storage capacity, high-priced hardware and software, and manual updating for new functionality and features.

  • How is AI helping in conferencing software?

A: AI in conferencing software has enabled organizations to determine the optimal length of a meeting, the ideal number of participants, and the best time of the day to hold a meeting.

  • How is team collaboration software benefiting the logistics & transportation sector?

A: Using an efficient and user-friendly alerts and updates tool is gradually impacting the logistics and shipping businesses globally, especially when the ‘data tracking and communicating’ is crucial for the entire workflow.

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • KEY DRIVERS
      • GROWING ADOPTION OF CLOUD-BASED SAAS
      • INCREASING DEMAND FOR CONFERENCING & COMMUNICATION SOLUTIONS
      • ADVENT OF 5G DELIVERY MODEL
    • KEY RESTRAINTS
      • HIGH INITIAL CAPITAL COSTS
      • GROWING SECURITY CONCERNS
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON TEAM COLLABORATION SOFTWARE MARKET
    • KEY MARKET TRENDS
    • PORTER’S FIVE FORCES ANALYSIS
      • BUYERS POWER
      • SUPPLIERS POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • KEY BUYING CRITERIA
    • VALUE CHAIN ANALYSIS
  2. MARKET BY DEPLOYMENT
    • CLOUD-BASED DEPLOYMENT
    • ON-PREMISE
  3. MARKET BY TYPE
    • CONFERENCING SOFTWARE
    • COMMUNICATION & COORDINATION SOFTWARE
  4. MARKET BY APPLICATION
    • MANUFACTURING
    • BFSI
    • IT & TELECOM
    • RETAIL
    • HEALTHCARE
    • LOGISTICS & TRANSPORTATION
    • EDUCATION
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • POLAND
        • REST OF EUROPE
    • ASIA-PACIFIC
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • KEY STRATEGIC DEVELOPMENTS
      • PRODUCT LAUNCHES & DEVELOPMENTS
      • PARTNERSHIPS & AGREEMENTS
    • COMPANY PROFILES
      • ADOBE SYSTEMS INCORPORATED
      • ASANA
      • AVAYA INC
      • AT&T INC
      • BLACKBOARD INC
      • CISCO SYSTEMS INC
      • CITRIX SYSTEMS INC
      • IBM CORPORATION
      • MICROSOFT CORPORATION
      • OPENTEXT CORPORATION
      • ORACLE CORPORATION
      • SLACK TECHNOLOGIES INC

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – TEAM COLLABORATION SOFTWARE

TABLE 2: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY DEPLOYMENT, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 3: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY DEPLOYMENT, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 4: GLOBAL CLOUD-BASED DEPLOYMENT MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 5: GLOBAL CLOUD-BASED DEPLOYMENTMARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 6: GLOBAL ON-PREMISE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 7: GLOBAL ON-PREMISE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 8: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 9: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 10: GLOBAL CONFERENCING SOFTWARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 11: GLOBAL CONFERENCING SOFTWARE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 12: GLOBAL COMMUNICATION & COORDINATION SOFTWARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 13: GLOBAL COMMUNICATION & COORDINATION SOFTWARE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 14: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 15: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY APPLICATION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 16: GLOBAL MANUFACTURING MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 17: GLOBAL MANUFACTURING MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 18: GLOBAL BFSI MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 19: GLOBAL BFSI MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 20: GLOBAL IT & TELECOM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 21: GLOBAL IT & TELECOM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 22: GLOBAL RETAIL MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 23: GLOBAL RETAIL MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 24: GLOBAL HEALTHCARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 25: GLOBAL HEALTHCARE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 26: GLOBAL LOGISTICS & TRANSPORTATION MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 27: GLOBAL LOGISTICS & TRANSPORTATION MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 28: GLOBAL EDUCATION MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 29: GLOBAL EDUCATION MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 30: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 31: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 32: NORTH AMERICA TEAM COLLABORATION SOFTWARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 33: NORTH AMERICA TEAM COLLABORATION SOFTWARE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 34: EUROPE TEAM COLLABORATION SOFTWARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 35: EUROPE TEAM COLLABORATION SOFTWARE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 36: ASIA-PACIFIC TEAM COLLABORATION SOFTWARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 37: ASIA-PACIFIC TEAM COLLABORATION SOFTWARE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 38: REST OF WORLD TEAM COLLABORATION SOFTWARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 39: REST OF WORLD TEAM COLLABORATION SOFTWARE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 40: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 41: LIST OF PARTNERSHIPS & AGREEMENTS

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: VALUE CHAIN ANALYSIS

FIGURE 7: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, GROWTH POTENTIAL, BY DEPLOYMENT, IN 2020

FIGURE 8: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY CLOUD-BASED DEPLOYMENT, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY ON-PREMISE, 2021-2028 (IN $ MILLION)

FIGURE 10: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020

FIGURE 11: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY CONFERENCING SOFTWARE, 2021-2028 (IN $ MILLION)

FIGURE 12: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY COMMUNICATION & COORDINATION SOFTWARE, 2021-2028 (IN $ MILLION)

FIGURE 13: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2020

FIGURE 14: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY MANUFACTURING, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY BFSI, 2021-2028 (IN $ MILLION)

FIGURE 16: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY IT & TELECOM, 2021-2028 (IN $ MILLION)

FIGURE 17: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY RETAIL, 2021-2028 (IN $ MILLION)

FIGURE 18: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY HEALTHCARE, 2021-2028 (IN $ MILLION)

FIGURE 19: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY LOGISTICS & TRANSPORTATION, 2021-2028 (IN $ MILLION)

FIGURE 20: GLOBAL TEAM COLLABORATION SOFTWARE MARKET, BY EDUCATION, 2021-2028 (IN $ MILLION)

FIGURE 21: NORTH AMERICA TEAM COLLABORATION SOFTWARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: UNITED STATES TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 23: CANADA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 24: EUROPE TEAM COLLABORATION SOFTWARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 25: UNITED KINGDOM TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: GERMANY TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: FRANCE TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 28: ITALY TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: RUSSIA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 30: BELGIUM TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 31: POLAND TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 32: REST OF EUROPE TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: ASIA-PACIFIC TEAM COLLABORATION SOFTWARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 34: CHINA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 35: JAPAN TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 36: INDIA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 37: SOUTH KOREA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 38: INDONESIA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 39: THAILAND TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 40: VIETNAM TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 41: AUSTRALIA & NEW ZEALAND TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 42: REST OF ASIA-PACIFIC TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 43: REST OF WORLD TEAM COLLABORATION SOFTWARE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 44: LATIN AMERICA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 45: MIDDLE EAST & AFRICA TEAM COLLABORATION SOFTWARE MARKET, 2021-2028 (IN $ MILLION)

  1. MARKET BY DEPLOYMENT
    • CLOUD-BASED DEPLOYMENT
    • ON-PREMISE
  2. MARKET BY TYPE
    • CONFERENCING SOFTWARE
    • COMMUNICATION & COORDINATION SOFTWARE
  3. MARKET BY APPLICATION
    • MANUFACTURING
    • BFSI
    • IT & TELECOM
    • RETAIL
    • HEALTHCARE
    • LOGISTICS & TRANSPORTATION
    • EDUCATION
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • POLAND
        • REST OF EUROPE
    • ASIA-PACIFIC
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

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