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Enterprise Collaboration Market Projected to reach $59.86 billion by 2023 | Key players include Atlassian, Facebook, IBM, Microsoft, Salesforce.Com and VMware

07-08-2019 09:32 AM CET | IT, New Media & Software

Press release from: MarketsandMarkets

Enterprise Collaboration Market Projected to reach $59.86

According to recent research "Enterprise Collaboration Market by Component (Solutions (Enterprise Video, Enterprise Social Network, Project Management & Analytics, Unified Messaging), Services), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets, global enterprise collaboration market is expected to grow from USD 34.57 Billion in 2018 to USD 59.86 Billion by 2023, at a CAGR of 11.6% from 2018 to 2023.

The growth of the enterprise collaboration market is primarily driven by the widespread usage of social networking websites and increasing usage of mobile devices for collaboration.

Browse 74 market data Tables and 51 Figures spread through 161 Pages and in-depth TOC on "Enterprise Collaboration Market”
https://www.marketsandmarkets.com/Market-Reports/enterprise-collaboration-market-130299553.html?utm_source=Openpr

Based on deployment type, the cloud segment of the enterprise collaboration market is projected to grow at a higher CAGR than the on-premises segment during the forecast period.

Based on deployment type, the cloud segment of the enterprise collaboration market is projected to grow at a higher CAGR than on-premises segment during the forecast period. The demand for cloud-deployed enterprise collaboration solutions is increasing in organizations, as these solutions are easy to deploy, are agile, and they provide more scalability functions than on-premises solutions at an affordable cost. Majority of the SMEs are adopting cloud deployment, as these solutions help SMEs in avoiding costs related to hardware, software, storage, and technical staff.

Based on organization size, the small & medium enterprises segment of the enterprise collaboration market is projected to grow at a higher CAGR than the large enterprises segment from 2018 to 2023.

Based on organization size, the small & medium enterprises segment of the enterprise collaboration market is expected to witness a higher growth than the large enterprises segment during the forecast period. Cost-effectiveness is important for Small & Medium Enterprises (SMEs), as they have limited budgets. Hence, the implementation of cloud-based enterprise collaboration solutions is expected to result in increased revenue, desired business outcome, and improved business efficiency for SMEs. Enterprise collaboration solutions help SMEs reduce travel cost and the need for face-to-face meetings.

Speak to our Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=130299553&utm_source=Openpr

The North American region is expected to lead the enterprise collaboration market in 2018.

The North American region is expected to lead the enterprise collaboration market in 2018, as North America is the earliest adopter of cloud technologies and has advanced infrastructure capabilities, and is the largest revenue generator region for the market. North America, especially the US and Canada, is witnessing the widespread adoption of cloud-based enterprise collaboration solutions and services in large enterprises and SMEs across multiple verticals.

Mr. Shelly Singh
MarketsandMarkets™ INC.
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Email: newsletter@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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