Northbrook, IL 60062 -- (SBWIRE) -- 12/20/2023 -- The global Enterprise Collaboration Market size to grow from USD 47.2 billion in 2021 to USD 85.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 12.7% during the forecast period, according to research report by MarketsandMarkets™.

Enterprise collaboration tools that utilize cloud services store all files and important information in a centralized location. Cloud services enable syncing all the changes made in real-time to enhance collaboration in organizations. Hence, organizations are spending more toward the adoption of cloud services.

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The key and emerging market players in the enterprise collaboration market include IBM (US), Microsoft (US), Cisco (US), Adobe (US), Google (US), Citrix (US), Slack (US), Facebook (US), Salesforce (US), Atlassian (Australia), Igloo (Canada), Jive (US), VMware (US), SAP (Germany), Mitel (Canada), RingCentral (US), TIBCO Software (US), Zoho (US), Jalios (France), Jamespot (France), Box (US), Bynder (Netherlands), Axero (US), BlueKiwi (France), Whaller (France), Dropbox (US), Kaltura (US), Asana (US), Clickup (US), and Chanty (US). These players have adopted various strategies to grow in the global enterprise collaboration market.

IBM is one of the leading providers of enterprise collaboration solutions and services. The company provides their workplace collaboration services, which improve business communication and complexities associated with collaboration services offered overcloud. Using Microsoft-based solutions and SaaS-based delivery options, IBM offers a cost-effective and secured workplace collaboration system to enhance the productivity and innovation of employees. In April 2019, IBM launched its new automation functionality for Aspera on the cloud for early access customers. These new automation capabilities served as a powerful solution for managing cloud-based workflows.

Google is another leading enterprise collaboration solutions provider. The company offers its Google Workspace which is a suite of applications to enhance productivity and collaboration for organizations. The Google Workspace plan provides solutions that help with real-time collaboration and machine intelligence to help enterprise customers work smarter. In May 2021, Google partnered with SpaceX to deliver secure global connectivity using SpaceX's Starlink to provide high-speed connection across Google Cloud' infrastructure. This would provide businesses with seamless and secure access to the cloud.

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Some of the key players operating in the cloud-based data management services market are – IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), HPE (US), NetApp (US), Informatica (US), SAS (US), Actian (US), and Oracle (US).

Key Dynamic Factors For Enterprise Collaboration Market:

Trends in Remote Work:

A major factor driving the need for workplace collaboration solutions was the transition in the global workforce towards remote and hybrid work arrangements. Companies looked for solutions that would allow remote teams to collaborate on projects, share files, and communicate easily.

Unified Communication and Collaboration (UC&C) Integration:

The trend of organisations seeking integrated solutions that include phone calling, video conferencing, messaging, and collaboration features has led to the convergence of communication and collaboration tools. Platforms for Unified Communication and Collaboration were designed to make communication routes more efficient.

Pay attention to accessibility and user experience:

Organisations began placing a premium on solutions that were available across multiple platforms, straightforward, and easy to use, making user experience a crucial component. User-friendly interface-focused solutions gained popularity.

Growth of Platforms for Team Collaboration:

Teams have come to rely on systems like Microsoft Teams, Slack, and others for document collaboration, project management, and real-time communication. There was innovation and rivalry in this market.

Concerns about Security and Compliance:

The integration of collaboration tools into business processes has made security and adherence to data protection rules crucial. Solutions with strong security features, encryption, and compliance capabilities were given priority by enterprises.

Automation & Artificial Intelligence:

It has become common practice to incorporate automation and artificial intelligence (AI) capabilities into collaborative platforms. Artificial intelligence (AI)-driven features like virtual assistants, smart scheduling, and document recommendations are meant to improve user experience and efficiency.

Competitive and Segmentation Analysis:

Competitive analysis is essential in the dynamic enterprise collaboration landscape since companies are fighting for market share in a continually changing ecosystem. Prominent entities like Microsoft Teams, Slack, and Cisco Webex fiercely contend to provide all-inclusive collaboration suites that include communication, project management, and document sharing functionalities. Innovative firms that concentrate on specialised collaboration features are also beginning to emerge in the competitive terrain, adding to the market's diversity and competitiveness. As businesses look to improve their products and services and offer end-to-end solutions, they frequently form strategic alliances and make acquisitions. This is shown in the case of technology behemoths that are growing their portfolios by purchasing suppliers of collaboration tools.

In the enterprise collaboration industry, segmentation analysis is critical to comprehending and meeting the needs of heterogeneous organisations. Tools designed for certain communication modalities, such video conferencing, document collaboration, and instant messaging, are frequently included in segments. Deployment options provide organisations with flexibility according to their infrastructure and preferences, ranging from cloud-based platforms to on-premises solutions. Furthermore, segmentation based on firm size, geographic location, and industry verticals enables customised solutions to meet specific needs for collaboration across different industries. Businesses may choose and tailor collaboration solutions to match their unique processes, regulatory requirements, and organisational structures thanks to this fine-grained segmentation.

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