Press release
How Team Collaboration Software Market 2021 is Booming Worldwide with Top Leading Players – Airtable, Amazon Chime, Asana, Inc, AT&T, Inc, Basecamp LLC
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/industry-reports/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.
This Report Answers the Following Questions:
Which region is expected to lead the market?
Will the COVID-19 pandemic affect the market severely?
What are the current industry developments in the market?
How will team collaboration software providers boost the customer base?
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Drivers & Restraints-
Need to Surge Productivity & Improve Security will Bolster Demand
Team collaboration software solutions provide a wide range of benefits to organizations, such as enhanced security, increased productivity, and reduced costs. They also help virtual teams to work together across firms, functions, and geographies to accelerate innovation and efficiency. Therefore, several organizations are rapidly inclining towards advanced solutions from conventional communication techniques to create holistic collaboration strategies. However, these tools may open an insecure channel that can attract ransomware or malicious codes. This factor may hamper the team collaboration software market growth in the near future.
Segment-
BFSI Segment to Grow Significantly Stoked by High Demand from Policy Makers & Influencers
Based on end-users, the banking, financial services and insurance (BFSI) segment earned 17.5% in 2019 in terms of team collaboration software market share. This growth is attributable to the increasing demand for such software solutions among influencers and policy makers to engage in discussions and meetings for strategizing successful banking systems.
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Regional Analysis-
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.
Competitive Landscape-
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.
List Of Key Companies Profiled In Team Collaboration Software Market Are
Airtable (California, United States)
Amazon Chime (Amazon Web Services, Inc.) (Washington, United States)
Asana, Inc. (California, United States)
AT&T, Inc. (Texas, United States)
Basecamp LLC (Illinois, United States)
Bluebeam, Inc. (California, United States)
BOX, Inc. (California, United States)
Chatter (Salesforce.com, Inc.) (California, United States)
Cisco System, Inc. (California, United States)
Citrix Systems, Inc. (Florida, United States)
Flock FZ-LLC (Mumbai, India)
Fuze, Inc. (Massachusetts, United States)
Google LLC (Alphabet Inc.) (California, United States)
IBM Corporation (New York, United States)
Jostle Corporation (Vancouver, Canada)
Kintone Corporation (California, United States)
LiquidPlanner, Inc. (Washington, United States)
LogMeIn, Inc. (Massachusetts, United States)
Microsoft Corporation (Washington, United States)
MindMeld, Inc. (California, United States)
monday.com (Tel Aviv-Yafo, Israel)
Nomadesk NV (Belgium)
nTask (California, United States)
Open Text Corporation (Waterloo, Canada)
Oracle Corporation (California, United States)
Slack Technologies, Inc. (California, United States)
SMART Technologies (Calgary, Canada)
TeamViewer GmbH (Göppingen, Germany)
Trello (Atlassian Corporation Plc) (Sydney, Australia)
Wrike, Inc. (California, United States)
Zoom Video Communications, Inc. (California, United States)
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Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. 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.
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