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Global Team Collaboration Software Market to Reach USD 23.4 billion by 2026, Aided by Cloud-Based Services

Team Collaboration Software Market

Global Team Collaboration Software Market: By Component: Software, Service; Deployment: On-Premise, Cloud; Software Type: Conferencing, Communication & Co-ordination; Industry Vertical; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Team Collaboration Software Market Outlook

The global team collaboration software market reached a value of about USD 14.22 billion in 2022. The industry is further expected to grow at a CAGR of about 13.2% in the forecast period of 2023-2028 to reach a value of around USD 29.99 billion by 2028, driven by the changing work culture.

 

Global Team Collaboration Software Market

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North America to Significantly Aid the Growth of the Team Collaboration Software Industry


North America is one of the major regional markets in the team collaboration software industry, contributing significantly to the growth of the overall market. The market growth in the region can be attributed to the rapid adoption of web conferencing solutions, communication tools, and collaboration portals by businesses in North America. In addition, North American key players have been introducing innovative collaboration software with the addition of the existing software, which is expected to further aid the market growth. For instance, in June 2020, Google LLC introduced roll-free access to “advanced” features for Hangouts Meet to all G Suite and G Suite for education customers globally. The Asia Pacific region also accounted for a significant revenue share in the market in line with the increased emphasis on improving networking technology to cope with the COVID-19 pandemic. India and China, for example, are investing in the development of high-speed data networks. This has encouraged organisations to deploy team collaboration software as a part of the effort to optimize the workforce and ensure efficient employee interaction.
 

Impact of COVID-19 on Team Collaboration Software Industry 

The team collaboration software industry witnessed a spike in demand during the COVID-19 pandemic owing to the introduction of policies, such as work from home, across the globe. Multiple industries witnessed disruptions in their business operations and workforce management. Many collaborative platform players helped these industries to cope with their disrupted business. For instance - Microsoft Corporation offered a free six-month trial for a premium tier of Microsoft Teams globally in June 2020. The tier was created to allow hospitals, schools, and businesses in China to run Microsoft Teams quickly, and it is now available globally. The company also introduced new Teams features aimed at improving remote meetings, which further propelled the market growth during the pandemic.
 

Team Collaboration Software:Industry Definition and Segmentation

Team collaboration software, also known as a team collaboration tool, is a term used to define the different types of software and online services available to companies and individuals that enable them to feasibly work together on common projects, regardless of their physical location. These tools enable a more coordinated workflow by establishing a unified platform for file sharing, online storage, team discussion, task assignments, and real-time collaboration.

 

Global Team Collaboration Software Market by Segment

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The major components of the industry can be divided into: 

  • Software 
  • Service 

On the basis of deployment, the industry is classified into:

  • On-Premise 
  • Cloud

The market can be broadly categorised based on its software type into:

  • Conferencing 
  • Communication and Co-ordination 

The industry is further divided on the basis of industry vertical:

  • Banking, Financial Services and Insurance (BFSI)
  • Manufacturing
  • Healthcare
  • IT and Telecommunications
  • Retail and E-commerce
  • Government and Defence
  • Media and Entertainment
  • Education
  • Others

 

Global Team Collaboration Software Market by Region

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Rising Demand for Cloud-Based Services Boosting the Market Growth of Team Collaboration Software


The rising demand for cloud-based services is among the primary factors leading the market growth. The need for cloud-based platforms to effectively share and collaborate, and to ensure enterprise-wide seamless communication is growing as the number of people working remotely increases. The COVID-19 pandemic has prompted businesses to ramp up their use of cloud-based communication tools like video conferencing and instant messaging software, which allow companies to connect and communicate with employees remotely while ensuring their safety. The work-from-home trends are growing in popularity among start-ups and small and medium-sized businesses, which is expected to boost the market growth. Organisations are also looking forward to the post-pandemic era and considering adopting a hybrid working culture. They are subsequently ramping up their investments in reliable collaboration solutions to ensure effective communication. Such factors are expected to propel the market growth of team collaboration software.

New technologies, such as machine learning, artificial intelligence, virtual reality, and augmented reality, are expected to be integrated into various collaboration tools, creating lucrative opportunities for players in the online collaboration software market. The IT and telecommunication industry anticipates high adoption of team collaboration software in the coming years. This is attributed to the growth in IT spending by various industries to adopt technological solutions into their operations. Also, the banking, financial services, and insurance sector (BFSI) have increased their IT budgets to adopt various collaborative platforms to help cope with ongoing disruptions due to the COVID-19 pandemic. These factors are expected to continue aiding the growth of the market for team collaboration software in the coming years.
 

Key Industry Players in the Global Team Collaboration Software Market

The report gives a detailed analysis of the following key players in the global team collaboration software market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Cisco Systems, Inc.
  • Citrix Systems, Inc.
  • Google LLC
  • International Business Machines Corporation 
  • Microsoft Corporation 
  • Oracle Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment, Software Type, Industry Vertical, Region
Breakup by Component Software, Service
Breakup by Deployment On-Premise, Cloud
Breakup by Software Type Conferencing, Communication & Co-ordination
Breakup by Industry Vertical Banking, Financial Services and Insurance (BFSI), Manufacturing, Healthcare, IT and Telecommunications, Retail and E-commerce, Government and Defence, Media and Entertainment, Education, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Cisco Systems, Inc., Citrix Systems, Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Team Collaboration Software Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Team Collaboration Software Historical Market (2018-2022) 
    8.3    Global Team Collaboration Software Market Forecast (2023-2028)
    8.4    Global Team Collaboration Software Market by Component
        8.4.1    Software
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Service
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Team Collaboration Software Market by Deployment
        8.5.1    On-Premise
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Cloud
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
    8.6    Global Team Collaboration Software Market by Software Type
        8.6.1    Conferencing
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Communication & Co-ordination
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
    8.7    Global Team Collaboration Software Market by Industry Vertical
        8.7.1    Banking, Financial Services and Insurance (BFSI)
            8.7.1.1    Historical Trend (2018-2022)
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Manufacturing
            8.7.2.1    Historical Trend (2018-2022)
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Healthcare
            8.7.3.1    Historical Trend (2018-2022)
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    IT and Telecommunications
            8.7.4.1    Historical Trend (2018-2022)
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Retail and E-commerce
            8.7.5.1    Historical Trend (2018-2022)
            8.7.5.2    Forecast Trend (2023-2028)
        8.7.6    Government and Defence
            8.7.6.1    Historical Trend (2018-2022)
            8.7.6.2    Forecast Trend (2023-2028)
        8.7.7    Media and Entertainment
            8.7.7.1    Historical Trend (2018-2022)
            8.7.7.2    Forecast Trend (2023-2028)
        8.7.8    Education
            8.7.8.1    Historical Trend (2018-2022)
            8.7.8.2    Forecast Trend (2023-2028)
        8.7.9    Others
    8.8    Global Team Collaboration Software Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2022) 
            8.8.1.2    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2022) 
            8.8.2.2    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2022) 
            8.8.3.2    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2022) 
            8.8.4.2    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2022) 
            8.8.5.2    Forecast Trend (2023-2028) 
9    North America Team Collaboration Software Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Team Collaboration Software Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Team Collaboration Software Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Team Collaboration Software Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Team Collaboration Software Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Cisco Systems, Inc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Citrix Systems, Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
                16.2.2.4    Certifications
        16.2.3    Google LLC
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    International Business Machines Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Microsoft Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Oracle Corporation
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

List of Key Figures and Tables

1.    Global Team Collaboration Software Market: Key Industry Highlights, 2018 and 2028
2.    Global Team Collaboration Software Historical Market: Breakup by Component (USD Billion), 2018-2022
3.    Global Team Collaboration Software Market Forecast: Breakup by Component (USD Billion), 2023-2028
4.    Global Team Collaboration Software Historical Market: Breakup by Deployment (USD Billion), 2018-2022
5.    Global Team Collaboration Software Market Forecast: Breakup by Deployment (USD Billion), 2023-2028
6.    Global Team Collaboration Software Historical Market: Breakup by Software Type (USD Billion), 2018-2022
7.    Global Team Collaboration Software Market Forecast: Breakup by Software Type (USD Billion), 2023-2028
8.    Global Team Collaboration Software Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2022
9.    Global Team Collaboration Software Market Forecast: Breakup by Industry Vertical (USD Billion), 2023-2028
10.    Global Team Collaboration Software Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Team Collaboration Software Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Team Collaboration Software Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Team Collaboration Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Team Collaboration Software Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Team Collaboration Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Team Collaboration Software Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Team Collaboration Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Team Collaboration Software Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Team Collaboration Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Team Collaboration Software Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Team Collaboration Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Global Team Collaboration Software Market Structure

Key Questions Answered in the Report

What was the global team collaboration software market size in 2022?

In 2022, the global team collaboration software market attained a value of nearly USD 14.22 billion.

What is the growth rate of the global team collaboration software market?

The market is projected to grow at a CAGR of 13.2% between 2023 and 2028.

What is the forecast outlook of the global team collaboration software market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 29.99 billion by 2028.

What are the major market drivers?

The major market drivers are the surging broadband penetration, increasing investment in the development of high-speed data networks, and the growing adoption of web conferencing solutions.

What are the key trends of the market?

Technological advancements and innovations, the growing adoption of work-from-home culture, and the rising demand for cloud-based services, machine learning, and artificial intelligence (AI) are the key trends propelling the market growth.

What are the major regional markets of team collaboration software, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major components of team collaboration software in the market?

The major components of team collaboration software in the market are software and service.

What are the various deployment segments considered in the market report?

On-premises and cloud are the various deployment segments considered in the market report.

What are the significant software types included in the market report?

The significant software types included in the market report are conferencing and communication, and co-ordination.
 

What are the various industry verticals in the market?

Banking, financial services and insurance (BFSI), manufacturing, healthcare, IT and telecommunications, retail and e-commerce, government and defence, media and entertainment, and education, among others, are the major industry verticals in the market.

Who are the key players in the team collaboration software market, according to the report?

The major players in the market are Cisco Systems, Inc., Citrix Systems, Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, and Oracle Corporation, among others.

Analyst Review

The global team collaboration software market attained a value of nearly USD 14.22 billion in 2022, driven by the changing work culture due to the COVID-19 pandemic. Aided by the growing technological advancements, machine learning, and cloud-based services, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 13.2%. The market is projected to reach USD 29.99 billion by 2028.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on component, the team collaboration software industry can be segmented into software and service. On the basis of deployment, the market can be segmented into on-premises and cloud. The software types in the market include conferencing, communication and co-ordination. The various industry verticals in the market include banking, financial services and insurance (BFSI), manufacturing, healthcare, IT and telecommunications, retail and e-commerce, government and defence, media and entertainment, and education, among others. The major regional markets for  team collaboration software  are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Cisco Systems, Inc., Citrix Systems, Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, and Oracle Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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