Global Enterprise Collaboration Service Market- Demand for Collaborative Tools Aiding Cross-border Business to Boost Growth, says TMR

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Global Enterprise Collaboration Service Market: Demand for Collaborative

Tools Aiding Cross-border Business to Boost Growth, says TMR

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The degree of competition among the existing players in the global enterprise collaboration service market is

quite high. The prevailing competition is forecast get fiercer in the future with the entry of new market players,

finds Transparency Market Research (TMR) in a new report. Currently, IBM Corporation, Cisco System Inc.,

Nokia Network, HP Corporation, and Polycom, Inc., are the top players in the global enterprise collaboration

service market. The dominance of these enterprises is on account of their persistent funding and efforts

towards innovation and in providing collaboration services. “Through strategic collaborations and mergers,

vendors in the market are competing against one another and looking to strengthen their market position,”

observed the TMR report’s author. Exhibiting a CAGR of 10.3%, the global enterprise collaboration service

market is forecast to reach US$56.51 bn by the end of 2024.

North America and Mobility & Telephony Emerge Dominant Based on Region and Solution,

Respectively

Regionally, North America will held a majority share of 53.1% of the overall market in 2015. This regional

market is gaining impetus from the increasing demand application of video conferencing in the defense and

military. Reporting a robust CAGR, the North America market will successfully maintain its position as the

market lead through the course of the forecast period.

By solution, the overall market is led by mobility and telephony. However, over the forecast period the video

conferencing segment is likely to emerge dominant exhibiting a CAGR of 11.5% between 2016 and 2024.

Besides this, collaborative tool and mobility and telephony will cumulatively account for a significant market

share.


Rising Demand for Mobile Workforce to Aid Growth

The increasing demand for mobile workforce and enterprise mobility is creating lucrative prospects for the

global enterprise collaboration service market. To continue witnessing sustainable growth, enterprises are

nowadays looking to expand their global footprint by conducting cross-border businesses. This created

accelerated demand for collaborative tool as without technology enabling effective communication

enterprises will fail to conduct business across borders.

Due to various benefits offered by enterprise collaboration services their uptake is expected to surge in the

coming years. In addition, the rising penetration of mobile devices will have a strong influence on the market,

positively propelling its growth. For instance, the availability of low-priced smartphones around the world

has provided immense opportunities for the leading vendors to capitalize on.

Increasing Incidence of Cyber-attacks Poses Threat

On the downside due to the rising incidence of cyber-attacks in the last few years, data breaches have become

crucial concerns for enterprises. “As enterprises often communicate voice data via Internet lines, streaming

media services, and voice over internet protocol, they often encounter security threats and have become more

vulnerable to cyber-attacks,” said a lead TMR analyst. Such concerns cause hindrances for the overall market.


Rising Use of Social Media for Business to Create Lucrative Opportunities

Nevertheless, there has been a considerable rise in number of enterprises using social media to propagate their

businesses. As these companies harness the power of social collaborative tools such as Office 365 and Lync,

they can empower partners and employees and create customer engagement in real time. Leading vendors in

the market are therefore intending to build ecosystems to make social business integration more compelling

for organizations. Furthermore, the market will gain from the rising use of enterprise social software solutions

such as Yammer, Jive, and Salesforce Chatter.

This review is based on a TMR report, titled “Enterprise Collaboration Service Market -Global Industry

Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024.”

The report segments the global enterprise collaboration service market as:

By Solution






Messaging

Video Conferencing

Contact Center

Mobility/Telephony

Collaborative Tool

o

o

o

o

o

o

o

o

Email

Application Sharing

Web Services

Search Services

Office Suite

Resource Management

Process Management

Business Intelligence

By Deployment




Off Premise

On-Premise

Hybrid

By End-use Application


Banking, Financial services and

Insurance (BFSI)

Retail

Healthcare

Government

Information Technology

Media and Entertainment

Education

Other (Transportation and Manufacturing)

By Geography






North America

o

o

o

Europe

o

o

o

o

o

The U.S.

Canada

Rest of North America

The U.K.

Germany

France

Italy

Rest of Europe

Asia Pacific (APAC)

o

o

o

o

o

China

Japan

India

South Korea

Rest of APAC

Middle East and Africa (MEA)

o

o

o

GCC Countries

South Africa

Rest of MEA

South America

o

o

Brazil

Argentina


o

Rest of South America

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business

information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides

forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers,

and consultants, use proprietary data sources and various tools and techniques to gather, and analyze

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