Team Collaboration Software Market

Team Collaboration Software Market

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Raksha Sharma

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Shruti Bhat

The Global Team Collaboration Software Market size was valued at USD 13.21 Billion in 2022 and is expected to surpass USD 37.83 Billion by 2031, expanding at a CAGR of 12.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising need for visual data exchange and digitization.

Team collaboration software uses various types of software and online services available in the company and allows the employees to work together on mutual projects, irrespective of their location. The main aim of team collaboration software is to assign workers in a team and achieve a common goal.

Team Collaboration Software Market Outlook

Market Trends, Drivers, Restraints, and Opportunities:

  • Companies have started understanding the benefits of affordable video conferencing solutions, which in turn, is driving the demand for team collaboration software.

  • Rising demand among organizations for smart meeting rooms is driving the market.

  • Rooms furnished with integrated smart control panels improve meeting experiences by combining and simplifying input commands. This is raising the demand for team collaboration software.

  • Increasing need among employees to gain uninterrupted wireless access to meeting rooms is expected to boost the market.

  • Organizations are heavily investing in mobile technologies, which can enable anytime, anywhere workforce.

Scope of Team Collaboration Software Market Report

The report on the team collaboration software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Team Collaboration Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2022–2031

Segmentation

Deployments (On-premise and Cloud-based), Software (Communication & Coordination and Conferencing), Applications (IT & Telecom, Retail, BFSI, Manufacturing, Healthcare, Logistics & Transportation, and Education)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

IBM Corporation, Adobe Systems Incorporated, Microsoft Corporation, AT&T, Inc., and Avaya Inc.

Team Collaboration Software Market Segment Insights

The on-premise segment held a major share of more than 55% in 2019

Based on deployments, the global team collaboration software market is bifurcated as on-premise and cloud-based. The on-premise segment is expected to expand at a robust CAGR during the forecast period. The growth of the segment is attributed to secure channels of meeting compliance and low data security issues. On-premise software guarantees less latency in data transfer rates, which in turn, helps organizations in cost effective data management. On-premise software also provides great control on the hardware of the server coupled with flexible customization of storage data.

The cloud-based segment is anticipated to expand at a rapid pace during the forecast period. Growth of the segment is attributed to reduction in IT expenses such as maintenance cost, staff training, and high initial costs. Access to data at anytime from anywhere ensures uninterrupted work operations. This factor is expected to increase the demand in the segment.

Team Collaboration Software Market Depolyments

The communication & coordination segment held a major share of more than 55% of total revenue in 2019

On the basis of software types, the global team collaboration software market is fragmented as communication & coordination and conferencing. The communication & collaboration segment facilitates real-time data sharing and allows cross-functional teams to stay connected though voice mails, emails, conferencing, and instant messaging. Features such as the ability to track multiple events such as deadlines and meetings are encouraging organizations to opt for the communication & collaboration software.

Increasing trend in the use of Virtual Reality (VR) and Augmented Reality (AR) based software to conduct meetings with remote workforce has increased the demand. The ability to create holograms through these technologies improves presentations and brainstorming sessions as well as generates virtual presence of an individual, which helps in building strong work relationships.

The IT & telecom segment held a key share of the total revenue in 2019

In terms of applications, the global team collaboration software market is segregated as IT & telecom, retail, BFSI, manufacturing, healthcare, logistics & transportation, and education. Increasing acceptance of Unified Communication as a Service (UCaaS) in IT companies to enable effective communication and collaboration is driving the segment growth. Additionally, increasing demand for high quality video conferencing among IT companies is boosting the market.

Increasing demand in the banking sector to digitalize current communication between the staff for efficient output is driving the market. Reduction in communication time between different departments of the bank improves operational performance.

Team Collaboration Software Market Applications

The market in North America held a major share of the global revenue in 2019

Based on regions, the global team collaboration software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to expand at a rapid pace during the forecast period. Companies in the region are increasing expenditure on IT in order to improve security features such as encryption of end-to-end data transfer and secure access, which in turn, is expected to drive the market.

The market in Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period. Rising demand for integrated connectivity and growing adoption of advanced technology among consumers is estimated to fuel the market.

Team Collaboration Software Market Regions

Segments

The global team collaboration software market has been segmented on the basis of

Deployments

  • On-premise
  • Cloud-based

Applications

  • IT & Telecom
  • Retail
  • BFSI
  • Manufacturing
  • Healthcare
  • Logistics & Transportation
  • Education

Software

  • Communication & Coordination
  • Conferencing

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players in the global team collaboration software market include IBM Corporation, Adobe Systems Incorporated, Microsoft Corporation, AT&T, Inc., and Avaya Inc. Manufacturers have acquired several strategies, such as mergers and acquisitions to increase their market share.

Team Collaboration Software Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Team Collaboration Software Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Team Collaboration Software Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Team Collaboration Software Market - Supply Chain
  4.5. Global Team Collaboration Software Market Forecast
     4.5.1. Team Collaboration Software Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Team Collaboration Software Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Team Collaboration Software Market Absolute $ Opportunity
5. Global Team Collaboration Software Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Team Collaboration Software Market Size and Volume Forecast by Applications
     5.3.1. IT & Telecom
     5.3.2. Retail
     5.3.3. BFSI
     5.3.4. Manufacturing
     5.3.5. Healthcare
     5.3.6. Logistics & Transportation
     5.3.7. Education
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Team Collaboration Software Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Team Collaboration Software Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Team Collaboration Software Demand Share Forecast, 2019-2026
7. North America Team Collaboration Software Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Team Collaboration Software Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Team Collaboration Software Market Size and Volume Forecast by Applications
     7.4.1. IT & Telecom
     7.4.2. Retail
     7.4.3. BFSI
     7.4.4. Manufacturing
     7.4.5. Healthcare
     7.4.6. Logistics & Transportation
     7.4.7. Education
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Team Collaboration Software Demand Share Forecast, 2019-2026
8. Latin America Team Collaboration Software Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Team Collaboration Software Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Team Collaboration Software Market Size and Volume Forecast by Applications
     8.4.1. IT & Telecom
     8.4.2. Retail
     8.4.3. BFSI
     8.4.4. Manufacturing
     8.4.5. Healthcare
     8.4.6. Logistics & Transportation
     8.4.7. Education
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Team Collaboration Software Demand Share Forecast, 2019-2026
9. Europe Team Collaboration Software Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Team Collaboration Software Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Team Collaboration Software Market Size and Volume Forecast by Applications
     9.4.1. IT & Telecom
     9.4.2. Retail
     9.4.3. BFSI
     9.4.4. Manufacturing
     9.4.5. Healthcare
     9.4.6. Logistics & Transportation
     9.4.7. Education
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Team Collaboration Software Demand Share Forecast, 2019-2026
10. Asia Pacific Team Collaboration Software Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Team Collaboration Software Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Team Collaboration Software Market Size and Volume Forecast by Applications
     10.4.1. IT & Telecom
     10.4.2. Retail
     10.4.3. BFSI
     10.4.4. Manufacturing
     10.4.5. Healthcare
     10.4.6. Logistics & Transportation
     10.4.7. Education
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Team Collaboration Software Demand Share Forecast, 2019-2026
11. Middle East & Africa Team Collaboration Software Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Team Collaboration Software Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Team Collaboration Software Market Size and Volume Forecast by Applications
     11.4.1. IT & Telecom
     11.4.2. Retail
     11.4.3. BFSI
     11.4.4. Manufacturing
     11.4.5. Healthcare
     11.4.6. Logistics & Transportation
     11.4.7. Education
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Team Collaboration Software Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Team Collaboration Software Market: Market Share Analysis
  12.2. Team Collaboration Software Distributors and Customers
  12.3. Team Collaboration Software Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. IBM Corporation
     12.4.2. Adobe Systems Incorporated
     12.4.3. Microsoft Corporation
     12.4.4. AT&T, Inc.
     12.4.5. Avaya Inc.

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