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According to Facts and Factors, the Global Team Collaboration Software Market size is expanding from USD 11.2 billion in 2020 to USD 23.5 billion by 2026, at a CAGR of approximately 13.14% between 2021 and 2026. The key players in the team collaboration software market with their sales, revenues and strategies are Adobe Systems Incorporated, Asana, Avaya, Inc., AT&T, Inc., Blackboard, Inc., Cisco Systems, Inc., Citrix Systems, Inc., IBM Corporation, and Others.
/EIN News/ — Miami, FL, Oct. 03, 2022 (GLOBE NEWSWIRE) — According to Facts and Factors has published a new research report titled “Team Collaboration Software Market By Software Type (Communication, Conferencing, and Coordination), By Deployment Mode (Cloud-based and On-Premise based), By Enterprise Size (Small and Medium Enterprise (SMEs), and Large Enterprise), By End-User (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Manufacturing, Retail and Consumer Goods, Healthcare, Transportation and Logistics, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” in its research database.
“According to the latest research study, the demand of global Team Collaboration Software Market size & share in terms of revenue was valued at USD 11.2 billion in 2020 and it is expected to surpass around USD 23.5 billion mark by 2026, growing at a compound annual growth rate (CAGR) of approximately 13.14% during the forecast period 2021 to 2026.”
Team Collaboration Software Market Overview:
Collaboration software is a broad phrase that refers to a variety of software applications. Communication tools, conferencing tools, and coordination tools are three types of software that are regularly required by businesses. Depending on their specific business requirements, businesses may require a single tool or a collection of all tools. For example, the sales team can use communication tools to discuss a product launch strategy, have group discussions using conferencing tools, and collaborate with other departments to keep track of deliverables using coordination tools.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2021 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 197+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2021
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Market Growth Dynamics
Businesses are using team collaboration software more than ever before that enables two employees to have a private communication, or communication between specialized groups, or even across an entire organization. Text messaging, audio chat, and videoconferencing are all the available options for this type of communication. Through collaboration software, the team can also share, manage, and process files, documents, and other types of data. This is possible any time and from any location among multiple people and systems. This aids in the effective operation of businesses and the improvement of project efficiency. Users can use team collaboration software to promptly answer inquiries, verify their tasks, and access common information and data.
There are numerous advantages to using team collaboration software that can lead to more efficient and effective task attainment. Team collaboration software saves time, improves project management, strengthens team relationships, and streamlines processes. Team collaboration software is meant to make it simple for employees to coordinate and work together on a common goal. When it comes to achieving a common goal, team collaboration software ensures team members' trust, comfort, and confidence.
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Team Collaboration Software Market: COVID-19 Impact Analysis
COVID-19 Pandemic has forced many nations around the world to go under lockdown to stop the virus from spreading. Thus, several organizations around the world have ordered their employees to work from home due to which a rise in demand for team collaboration software is likely possible. To manage and maintain an efficient workflow among the workforce, businesses have started adopting team collaboration software.
Because of team collaboration tools, remote work is now possible. For many businesses, remote employment has become the new standard since the COVID-19 Pandemic. According to survey data, since the virus struck the world, more than 77% of people have reported increased productivity, and 52%are less likely to take time off. According to survey data, 91% of people who work from home believe they are more productive than those who work in an office. With the use of team collaboration software, employees have reported feeling more productive, confident, and a part of the team. Employees may confidently engage and express their thoughts, and they have easy access to all common data.
Before the COVID-19 Pandemic, several businesses experimented with working remotely or even fully distributed teams. For example, Automattic Inc.'s WordPress was launched in 2005 and has been completely distributed since then. According to Slack's analysis, 45% of employees now work from home, with 66% doing so as a consequence of the COVID-19 Pandemic. The figures of employees working from home and businesses adopting team collaborations software vary depending on the industry and the area. However, it is evident that due to the COVID-19 Pandemic, there has been an upsurge in remote work and the use of team collaboration software.
The market is segmented by end-user into BFSI, IT and Telecommunications, Retail and Consumer Goods, Manufacturing, Healthcare, Transportation and Logistics, Education, and Others. For the retail and consumer goods industry, team collaboration software provides a complete platform for collaboration, employee engagement, and real-time data sharing. Retail stores may benefit from team collaboration software to increase sales and profits while maintaining brand identity. Employees can use Instant Messaging (IM), voice communication, and contact center channels to communicate with stores and back offices in multiple locations, as well as access CRM and inventory solutions. Team collaboration software can also assist retailers in integrating mobility applications and enhancing customer service as a result.
The global Team Collaboration Software market is segmented as follows:
By Software Type
By Deployment Mode
- On-Premise based
By Enterprise Size
- Small and Medium Enterprise (SMEs)
- Large Enterprise
- Banking, Financial Services, and Insurance
- IT and Telecommunications
- Retail and Consumer Goods
- Transportation and Logistics
Browse the full “Team Collaboration Software Market By Software Type (Communication, Conferencing, and Coordination), By Deployment Mode (Cloud-based and On-Premise based), By Enterprise Size (Small and Medium Enterprise (SMEs), and Large Enterprise), By End-User (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Manufacturing, Retail and Consumer Goods, Healthcare, Transportation and Logistics, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” Report at https://www.fnfresearch.com/team-collaboration-software-market
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards. Some of the main competitors dominating the global Team Collaboration Software market include –
- Adobe Systems Incorporated
- Cisco SystemsInc.
- Citrix SystemsInc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- OpenText Corporation
- Slack TechnologiesInc.
- TeamViewer GmbH
- Zoom Video Communications Inc.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Team Collaboration Softwaremarket is likely to expand at a CAGR of around 13.14% during the forecast period (2021-2026).
- In terms of revenue, the Team Collaboration Software market size was valued at around US$ 11.2 Billion in 2020 and is projected to reach US$ 23.5 Billion by 2026.
- The team collaboration software market is driven mainly by the increasingly remote workforce and the need for them to stay connected from anywhere at any time.
- On the basis of region, North America holds the largest market share in the global team collaboration software market.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Team Collaboration Software industry?
- What are the main driving factors propelling the Team Collaboration Software Market forward?
- What are the leading companies in the Team Collaboration Software Industry?
- What segments does the Team Collaboration Software Market cover?
- How can I receive a free copy of the Team Collaboration Software Market sample report and company profiles?
- Market Size & Forecast by Revenue | 2021−2026
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Software Type, Deployment Mode, Enterprise Size, End-User, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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The market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share in the global team collaboration software market. As the bulk of the workforce has begun working from home since the beginning of the COVID-19 pandemic, businesses of all sizes in North America are using web conferencing solutions, communication & coordination tools, and collaboration portals to ensure a steady and synchronized workflow. The availability of high-speed data and increasing demand for visual meetings are driving the expansion of the North American team collaboration software market.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
|Market Size in 2020||USD 11.2 Billion|
|Projected Market Size in 2026||USD 23.5 Billion|
|CAGR Growth Rate||13.14% CAGR|
|Key Market Players||Adobe Systems Incorporated, Asana, Avaya, Inc., AT&T, Inc., Blackboard, Inc., Cisco Systems, Inc., Citrix Systems, Inc., IBM Corporation, and Others|
|Key Segments||Software Type, Deployment Mode, Enterprise Size, End-User, and Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Purchase Options||Request customized purchase options to meet your research needs.|
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Table of Content
- Chapter 1 Executive Summary
- 1.1. Introduction of Team Collaboration Software
- 1.2. Global Team Collaboration Software Market, 2020 & 2026 (USD Billion)
- 1.3. Global Team Collaboration Software Market, 2016 – 2026 (USD Billion)
- 1.4. Global Team Collaboration Software Market Absolute Revenue Opportunity, 2016 – 2026 (USD Billion)
- 1.5. Global Team Collaboration Software Market Incremental Revenue Opportunity, 2020 – 2026 (USD Billion)
- 1.6. COVID-19 Impacts on Virtual Communication Market
- 1.6.1. COVID-19 Impact on the Players
- 1.6.2. Business Strategies and Recommendations
- Chapter 2 Team Collaboration Software Market – Software Type Analysis
- 2.1. Global Team Collaboration Software Market – Software Type Overview
- 2.2. Global Team Collaboration Software Market Share, by Software Type, 2020 & 2026 (USD Billion)
- 2.3. Communication
- 2.3.1. Global Communication Team Collaboration Software Market, 2016 – 2026 (USD Billion)
- 2.4. Conferencing
- 2.4.1. Global Conferencing Team Collaboration Software Market, 2016 – 2026 (USD Billion)
- 2.5. Coordination
- 2.5.1. Global Coordination Team Collaboration Software Market, 2016 – 2026 (USD Billion)
Read More TOC>>>>https://www.fnfresearch.com/toc/team-collaboration-software-market
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