Global Enterprise Collaboration Service Market- Demand for Collaborative Tools Aiding Cross-border Business to Boost Growth, says TMR
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<strong>Global</strong> <strong>Enterprise</strong> <strong>Collaboration</strong> <strong>Service</strong> <strong>Market</strong>: <strong>Demand</strong> <strong>for</strong> <strong>Collaborative</strong><br />
<strong>Tools</strong> <strong>Aiding</strong> <strong>Cross</strong>-<strong>border</strong> <strong>Business</strong> <strong>to</strong> <strong>Boost</strong> <strong>Growth</strong>, <strong>says</strong> <strong>TMR</strong><br />
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The degree of competition among the existing players in the global enterprise collaboration service market is<br />
quite high. The prevailing competition is <strong>for</strong>ecast get fiercer in the future with the entry of new market players,<br />
finds Transparency <strong>Market</strong> Research (<strong>TMR</strong>) in a new report. Currently, IBM Corporation, Cisco System Inc.,<br />
Nokia Network, HP Corporation, and Polycom, Inc., are the <strong>to</strong>p players in the global enterprise collaboration<br />
service market. The dominance of these enterprises is on account of their persistent funding and ef<strong>for</strong>ts<br />
<strong>to</strong>wards innovation and in providing collaboration services. “Through strategic collaborations and mergers,<br />
vendors in the market are competing against one another and looking <strong>to</strong> strengthen their market position,”<br />
observed the <strong>TMR</strong> report’s author. Exhibiting a CAGR of 10.3%, the global enterprise collaboration service<br />
market is <strong>for</strong>ecast <strong>to</strong> reach US$56.51 bn by the end of 2024.<br />
North America and Mobility & Telephony Emerge Dominant Based on Region and Solution,<br />
Respectively<br />
Regionally, North America will held a majority share of 53.1% of the overall market in 2015. This regional<br />
market is gaining impetus from the increasing demand application of video conferencing in the defense and<br />
military. Reporting a robust CAGR, the North America market will successfully maintain its position as the<br />
market lead through the course of the <strong>for</strong>ecast period.<br />
By solution, the overall market is led by mobility and telephony. However, over the <strong>for</strong>ecast period the video<br />
conferencing segment is likely <strong>to</strong> emerge dominant exhibiting a CAGR of 11.5% between 2016 and 2024.<br />
Besides this, collaborative <strong>to</strong>ol and mobility and telephony will cumulatively account <strong>for</strong> a significant market<br />
share.
Rising <strong>Demand</strong> <strong>for</strong> Mobile Work<strong>for</strong>ce <strong>to</strong> Aid <strong>Growth</strong><br />
The increasing demand <strong>for</strong> mobile work<strong>for</strong>ce and enterprise mobility is creating lucrative prospects <strong>for</strong> the<br />
global enterprise collaboration service market. To continue witnessing sustainable growth, enterprises are<br />
nowadays looking <strong>to</strong> expand their global footprint by conducting cross-<strong>border</strong> businesses. This created<br />
accelerated demand <strong>for</strong> collaborative <strong>to</strong>ol as without technology enabling effective communication<br />
enterprises will fail <strong>to</strong> conduct business across <strong>border</strong>s.<br />
Due <strong>to</strong> various benefits offered by enterprise collaboration services their uptake is expected <strong>to</strong> surge in the<br />
coming years. In addition, the rising penetration of mobile devices will have a strong influence on the market,<br />
positively propelling its growth. For instance, the availability of low-priced smartphones around the world<br />
has provided immense opportunities <strong>for</strong> the leading vendors <strong>to</strong> capitalize on.<br />
Increasing Incidence of Cyber-attacks Poses Threat<br />
On the downside due <strong>to</strong> the rising incidence of cyber-attacks in the last few years, data breaches have become<br />
crucial concerns <strong>for</strong> enterprises. “As enterprises often communicate voice data via Internet lines, streaming<br />
media services, and voice over internet pro<strong>to</strong>col, they often encounter security threats and have become more<br />
vulnerable <strong>to</strong> cyber-attacks,” said a lead <strong>TMR</strong> analyst. Such concerns cause hindrances <strong>for</strong> the overall market.
Rising Use of Social Media <strong>for</strong> <strong>Business</strong> <strong>to</strong> Create Lucrative Opportunities<br />
Nevertheless, there has been a considerable rise in number of enterprises using social media <strong>to</strong> propagate their<br />
businesses. As these companies harness the power of social collaborative <strong>to</strong>ols such as Office 365 and Lync,<br />
they can empower partners and employees and create cus<strong>to</strong>mer engagement in real time. Leading vendors in<br />
the market are there<strong>for</strong>e intending <strong>to</strong> build ecosystems <strong>to</strong> make social business integration more compelling<br />
<strong>for</strong> organizations. Furthermore, the market will gain from the rising use of enterprise social software solutions<br />
such as Yammer, Jive, and Sales<strong>for</strong>ce Chatter.<br />
This review is based on a <strong>TMR</strong> report, titled “<strong>Enterprise</strong> <strong>Collaboration</strong> <strong>Service</strong> <strong>Market</strong> -<strong>Global</strong> Industry<br />
Analysis, Size, Share, <strong>Growth</strong>, Trends and Forecast, 2016 - 2024.”<br />
The report segments the global enterprise collaboration service market as:<br />
By Solution<br />
<br />
<br />
<br />
<br />
<br />
Messaging<br />
Video Conferencing<br />
Contact Center<br />
Mobility/Telephony<br />
<strong>Collaborative</strong> Tool<br />
o<br />
o<br />
o<br />
o<br />
o<br />
o<br />
o<br />
o<br />
Email<br />
Application Sharing<br />
Web <strong>Service</strong>s<br />
Search <strong>Service</strong>s<br />
Office Suite<br />
Resource Management<br />
Process Management<br />
<strong>Business</strong> Intelligence<br />
By Deployment<br />
<br />
<br />
<br />
Off Premise<br />
On-Premise<br />
Hybrid<br />
By End-use Application
Banking, Financial services and<br />
Insurance (BFSI)<br />
Retail<br />
Healthcare<br />
Government<br />
In<strong>for</strong>mation Technology<br />
Media and Entertainment<br />
Education<br />
Other (Transportation and Manufacturing)<br />
By Geography<br />
<br />
<br />
<br />
<br />
<br />
North America<br />
o<br />
o<br />
o<br />
Europe<br />
o<br />
o<br />
o<br />
o<br />
o<br />
The U.S.<br />
Canada<br />
Rest of North America<br />
The U.K.<br />
Germany<br />
France<br />
Italy<br />
Rest of Europe<br />
Asia Pacific (APAC)<br />
o<br />
o<br />
o<br />
o<br />
o<br />
China<br />
Japan<br />
India<br />
South Korea<br />
Rest of APAC<br />
Middle East and Africa (MEA)<br />
o<br />
o<br />
o<br />
GCC Countries<br />
South Africa<br />
Rest of MEA<br />
South America<br />
o<br />
o<br />
Brazil<br />
Argentina
o<br />
Rest of South America<br />
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