Report Description
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.
Market Trends, Drivers, Restraints, and Opportunities:
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Companies have started understanding the benefits of affordable video conferencing solutions, which in turn, is driving the demand for team collaboration software.
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Rising demand among organizations for smart meeting rooms is driving the market.
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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.
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Increasing need among employees to gain uninterrupted wireless access to meeting rooms is expected to boost the market.
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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
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Details
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Report Title
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Team Collaboration Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2022–2031
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Segmentation
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Deployments (On-premise and Cloud-based), Software (Communication & Coordination and Conferencing), Applications (IT & Telecom, Retail, BFSI, Manufacturing, Healthcare, Logistics & Transportation, and Education)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IBM Corporation, Adobe Systems Incorporated, Microsoft Corporation, AT&T, Inc., and Avaya Inc.
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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.
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.
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.
Segments
The global team collaboration software market has been segmented on the basis of
Deployments
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.
Table Of Content
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.