Employee Communication Software Market Worth US$ 1,780.09 Million, Globally, by 2028 at 11.8% CAGR - Exclusive Report by The Insight Partners

The Insight Partners published latest research 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 employee communication software market is expected to grow from US$ 816.41 million in 2021 to US$ 1,780.09 million by 2027. The employee communication software market is expected to grow at a CAGR of 11.8% during the forecast period of 2021 to 2027.

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With increasing competitiveness across industries, the need for high operational and employee productivity is growing among enterprises for sustainable and profitable long term growth. Hence, the demand for efficient and effective employee communication solutions is rising at an impressive pace across industries such as BFSI, manufacturing, retail, healthcare, IT & telecom, education, and others. Internal organizational communication plays a crucial role in driving collaboration, productivity, and workforce engagement in an enterprise. In addition to this, the crucial need to maintain proper communication with deskless employees and growing share of remote workforce owing to ongoing coronavirus outbreak are some of the important factors that are boosting the adoption of employee communication software and services globally. There are several innovative companies that are offering these solutions with a wide variety of features integrated in them. An employee communication software allows organizations to customize and offer targeted communications across departments such as internal communications, HR communications, operational messages, compliance communications, and emergency notifications among others. These solutions also offer high level of personalization and employee engagement tools to support holistic communication development across the enterprise. The rising trend of digitalization, growing demand for outcome-based communication solutions, and increasing adoption of cloud-based solutions across small, medium, and large sized enterprises are some of the key driving factors for the growth of employee communication software market
The market for employee communication software is segmented into deployment type, enterprise size, industry, and geography. Based on deployment type, the employee communication software market is divided into cloud and on-premise. Cloud segment is projected to be the largest and fastest growing segment over the forecast from 2021 to 2027. On the basis of enterprise size, the market is segmented into SMEs and large enterprises. The large enterprises segment contributed the largest revenue share in 2019 whereas SMEs segment is projected to be the fastest growing sector in terms of growth rate. On basis of industry, the market is segmented into BFSI, manufacturing, retail, healthcare, IT & telecom and others. In 2020, IT and telecom industry led the employee communication software market globally. Geographically, the market is segmented into five major regions, namely North America, Europe, APAC, MEA and SAM. In 2019, North America held the largest revenue share followed by Europe and APAC.

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Increasing Need for Enhanced Communication with Deskless Workforce to Drive the Demand
With increasing level of competition and changing technology landscape across industry verticals, companies are continuously striving for solutions that could help in enhancing employee productivity, operational efficiency, and end user experiences, while reducing their overall costs. In addition to this, due to coronavirus outbreak, companies are also shifting towards remote working culture owing to restrictions on on-premise business activities and movement restrictions being implemented in various countries. The structure of today's enterprises is becoming more dynamic and complex, especially in industries such as retail and healthcare where a large section of workforce is deskless/mobile in nature. The coronavirus outbreak is further driving the trend of remove working in other industries also such as BFSI, manufacturing, IT and telecom among others. Hence, due to increasing share of deskless workforce across industries, the demand for multi-platform communication tools (desktop, mobile, tablets etc.) is expected to rise at an impressive rate in the coming years.

Deployment Type -Based Market Insights
Based on deployment type, the global employee communication software market is segmented into cloud and on-premise. The demand for the cloud-based employee communication software is greater than the on-premise employee communication software. The cloud-base software offerings are less expensive than the on-premise software; moreover, strong network infrastructure in developed countries also supports the adoption of cloud-based software. Various corporate players are planning to make substantial investments on advanced software to swiftly shift toward modern platforms integrated with advanced features. Players operating in the Employee Communication Software market are mainly focused on the development of advanced and efficient products.

Players operating in the Employee communication software market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the employee communication software market. A few developments by key players of the employee communication software market are:

In September 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.

In April 2020, Nudge Corporation launched a frontline activation suite of features designed to activate dormant frontline workforces. Nudge helps to navigate four key recovery stages, including field execution, recruitment, onboarding, and sustained performance, that advance existing benchmarks for employee engagement.

Employee Communication Software Market - By Deployment Type
Cloud
On-Premise

Employee Communication Software Market - by Enterprise Size
SMEs
Large Enterprises

Employee Communication Software Market-CompanyProfiles
• Beekeeper AG
• Nudge Corporation
• Poppulo (E-Search DAC)
• Simpplr Inc.
• Smarp Oy
• SnapComms
• Sociabble, Inc.
• Staffbase
• theEMPLOYEEapp
• Workvivo Limited

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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