The global team collaboration software market is set to gain impetus from the increasing trend of bring-your-own-device (BYOD) in various small and medium-sized enterprises (SMEs). It helps in lowering the initial infrastructure costs that tend to limit early development. This information is given by Fortune Business Insights™ in a new report, titled, “Team Collaboration Software Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Deployment (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By End-User (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Manufacturing, Retail and Consumer Goods, Healthcare, Transportation and Logistics, Education, Others), and Regional Forecast, 2020-2027.” The report further mentions that the market size was USD 13.44 billion in 2019 and is projected to reach USD 35.71 billion by 2027, exhibiting a CAGR of 13.2% during the forecast period.
Request a Sample Copy for more detailed Team Collaboration Software Market Overview: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/team-collaboration-software-market-101327
COVID-19: Work from Home Initiative to Help Market Generate More Shares
In April 2020, Vyopta Incorporated published a blog that showcases that the number of participants joining online meetings increased by 3 times, as compared to January. This proves that the emergence of COVID-19 pandemic is compelling companies to adopt the software solutions for promoting the work from home culture. Some of the software providers, such as Zoom, are exhibiting high growth owing to the complete lockdown measures set by the regulatory agencies. We are providing extensive analysis of the current scenario of this market.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/team-collaboration-software-market-101327
“Key players are expected to emphasize integrating Artificial Intelligence in the system. This is anticipated to propel the growth in the global Team Collaboration Software market,” said a lead analyst at Fortune Business Insights.
Rising Number of Smartphone Users to Augment Growth in Asia Pacific
In 2019, North America held USD 5.65 billion in terms of revenue. The stable economic growth and rising technological advancements in the region would aid growth. At the same time, the increasing usage of this software for efficiently carrying out project activities and improving internal team communications in the region is anticipated to bolster growth. Asia Pacific, on the other hand, is expected to show a high CAGR in the near future. This growth is attributable to the presence of numerous smartphone users in the region, as well as the availability of cloud service providers.
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/team-collaboration-software-market-101327
Key Companies to Develop New Team Collaboration Software for Intensifying Competition
The market includes several companies that are focusing on the strategy of innovative product launches to cater to the high consumer demand. Some of them are trying to invest in research and development activities as well. Below are two latest industry developments:
- June 2020: Slack Technologies, Inc. launched Slack Connect, a set of technologies that would refine the company’s real-time communications collaboration platform across 20 businesses.
- January 2020: Citrix Systems, Inc. introduced its next-generation service called Citrix® Analytics for Performance. It would help IT administrators to detect performance issues and address them proactively to provide a smooth experience.
Purchase Full Report for Exclusive Team Collaboration Software Market Growth Forecast – https://www.fortunebusinessinsights.com/checkout-page/101327
Other Exclusive Reports:
High Pressure Fixed Firefighting Misting System Market Research Report 2021: Industry Latest News, Top Company Analysis, Research Methodology and Forecast to 2025
Ultrafine Tungsten Wire Market Share, Growth Insight, Size, Competitive Analysis, Regional, And Global Forecast To 2025
Aerial Imaging Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2025)
High Availability Server Market Size, Industry Share, Total Revenue Growth Rate by Key Players Forecast Till 2025
Power Distribution Unit Market Share, Growth Insight, Size, Competitive Analysis, Regional, And Global Forecast To 2026
Welding Wires Market Share, Growth Insight, Size, Competitive Analysis, Regional, And Global Forecast To 2026
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]