Global Enterprise Social Networks and Online Communities Market Analysis and Forecast Predictions

Recently, a fresh study highlighting the market snapshot of Enterprise Social Networks and Online Communities has been publicized to the wide database of Market Research Reports Search Engine (MRRSE). This in-depth study is headlined as “Global Market Study on Enterprise Social Networks and Online Communities: Healthcare Industry Estimated to Account for Maximum Market Revenue Share by 2026” which discusses the historic and current scenario of the global market, along with the future prospects it holds for a 7 year assessment period, 2018-2026. For the benefit of the investors of the report, this research focuses on the drivers and restraints anticipated to impact the demand for Enterprise Social Networks and Online Communities in the coming years.

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Different types of social media platforms are being increasingly used in various types of organizations and business houses. Examples of these include Google+ and Office 365, and such type of software are being majorly used by various professionals and companies for the purpose of communication and sharing of files/documents and information. In addition, professionals also communicate with different entities outside the organization for the purpose of different job-related openings and opportunities, apart from engaging in promotional and marketing activities. Organizations are spending a lot on advertising the launch of new products, details regarding product discounts and other offers in order to increase their sales and also enhance their brand visibility online. Also, companies are even connecting with their business partners through such portals and platforms in real time. Due to the growing adoption of social media and increasing use by organizations, the market for enterprise social networks and online communities is expected to receive a huge boost during the period of assessment.

Increasing use of content analytics driving the growth of the global market

Content analytics is another aspect that is driving the market for enterprise social networks and online communities. With the aid of analytics, organizations can monitor the social interactions related to the product or service that they are offering in the market. In addition, with the help of analytics, organizations are able to understand the image of the company with statistical analysis. Organizations are in a position to take decisions on the basis of information provided by such analytics tools which are related to product trends, growth and failure. This is another potential factor that is expected to drive the enterprise social network and online communities market. For example, Alcatel-Lucent, an IT and telecom company, is utilizing enterprise social networking applications to analyze data and to perform several analytical observations in order to under the various problems that the organization is facing. Alcatel-Lucent is also using this technology for communicating with their various offices located worldwide.

High cost of implementation may deter various small and medium companies from adopting enterprise social networks

Since the cost of implementing enterprise social networks is high, such type of system can come across a financial burden to small and medium enterprises. In order to implement such type of platforms in organizations, expansion of IT infrastructure and training of employees is required. In addition, such type of platforms need other business technologies to integrate. This can enable the organizations to use the facilities of these platforms for business purposes, and to improve their communication with their customers. Small and medium sized companies may not be interested to invest in such type of social networking platforms, as the cost of such platforms is high. The high subscription cost of these platforms is expected to have a negative impact on the growth of the enterprise social networks and online communities market during the period of assessment.

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Global Enterprise Social Networks and Online Communities Market Analysis, By Industry

The healthcare segment in the global enterprise social networks and online communities market was valued at US$ 729 Mn in 2017. This segment is expected to reach a valuation of US$ 2,548.5 Mn at the end of year 2026, and reflect a CAGR of 15.6% during the period of assessment 2018-2026. The government segment was valued at US$ 414.3 Mn in 2017 end and is expected to reflect an exponential CAGR growth during the period of assessment. The retail and consumer goods segment was valued at US$ 475.2 Mn in 2017 end.

Research methodology

A detailed analysis has been provided for every segment in terms of market size analysis for the global enterprise social networks and online communities market. In order to offer an accurate forecast, we started by sizing up the current market, which forms the basis of how the global enterprise social networks and online communities market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis based on supply side, downstream industry demand and the economic envelope.  

It is vital to note that in an ever-fluctuating global economy, we not only conduct forecast in terms of CAGR, but also analyze the same on the basis of key parameters such as, year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities for market players. 

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