Employee Communication Software Market is Surging with 11.8% of CAGR by 2027 - SnapComms, Sociabble, Inc., Staffbase, theEMPLOYEEapp, Workvivo Limited

According to our latest study on “Employee Communication Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Deployment Type (On-Premise and Cloud), Enterprise Size (SMEs and Large Enterprises), and Industry (BFSI, Manufacturing, Retail, Healthcare, IT and Telecom, and Other Industries),” the market was valued at US$ 739.43 million in 2019 and is projected to reach US$ 1,780.09 million by 2027; it is expected to grow at a CAGR of 11.8% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

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Impact of COVID–19 Pandemic on North America Employee Communication Software Market

In 2019, North America led the employee communication software market in terms of revenue share and it is anticipated to hold a substantial share during the forecast period of 2020 to 2027. The region is characterized by the presence of developed nations such as the US and Canada, where the adoption of advanced technology/communication solutions, mobile applications, and digital services is quite high owing to the huge presence of key technology and internal communication software companies, consumer electronics manufacturers, cloud service providers, and tech-savvy population. Presently, in terms of COVID-19 outbreak, the US is the world’s and North America’s worst-affected country, and the economic and industry growth has negatively affected the country. However, to continue daily operations and key business activities, remote working has been adopted by major companies operating in this region. With this development, the demand for secure and advanced employee communication solutions to ensure proper communication and high productivity with continuous employee engagement is growing at an impressive pace over the past few months. Hence, the demand for employee communication platforms among enterprises is rising in a positive manner and COVID-19 has had a positive impact on the market growth.

Businesses today are increasingly adopting digital and technology solutions to transform their business models and existing processes to enhance operational efficiency and increase revenue growth by implementing effective digital solutions and automated systems. In the past few years, proliferation of smart and connected devices, adoption of cloud computing, and emergence of technologies such as artificial intelligence (AI) and internet of things (IoT) have led to advent of smart and intelligent workplaces. Due to increasing penetration of web applications, mobile applications, and SaaS-based solutions in enterprises, the demand for advanced employee communication tools for effective and efficient business communication is rising at an impressive pace. The need for providing enhanced customer experience, streamlining business applications/systems, and engaging mobile and stationary workforce is boosting the adoption of employee communication software solutions among large, small, and medium-sized enterprises. In addition, the growing demand for end-to-end business process optimization, enhanced operational efficiency, efficient employee interaction, and reduced miscommunication are among the major factors that are fueling the adoption of these solutions globally. Beekeeper AG; Nudge Corporation; Poppulo (E-Search DAC); Simpplr Inc.; Smarp Oy; SnapComms; Sociabble, Inc.; Staffbase; theEMPLOYEEapp; and Workvivo Limited are among the key players operating in the employee communication software market.

Strategic Insights

Players operating in the employee communication software market are mainly focusing on the development of advanced and efficient products.

- In 2020, SnapComms Inc. launched a new feature and updated its platform. It includes a new template library that delivers messages instantly, send personalized content with advanced employee targeting, engaging employees with animation alerts, etc.
- In 2020, Smarp Oy launched an AI-powered analytics suite. This suite combines the AI and real-time analytics to measure the impact of employee communication.

The growth of the outlook of employee communication software market in all the major regions is likely to propel during the forecast period. The COVID-19 outbreak is expected to further drive the adoption of employee communication software among enterprises owing to mass lockdowns, travel bans, and business shutdowns across all countries. The companies have implemented work from home policies as a preventive measures to prevent the spread of COVID-19. Thus, there is a sudden increase in y-o-y growth of the employee communication software market in 2020and will continue during the forecast period.

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