Global Enterprise Social Networks Market Projected to Surpass $29.33 Billion by 2029 with 16.8% Annual Growth

What industry-specific factors are fueling the growth of the enterprise social networks market?
The increasing trend of remote working is expected to drive the growth of the enterprise social networks market. Remote working, where employees work outside the traditional office environment, is being driven by its flexibility, cost reductions, and improved work-life balance. Enterprise social networks facilitate communication, collaboration, and knowledge sharing among remote teams. For instance, in January 2024, the World Economic Forum reported that the number of remote digital jobs is expected to grow by 25% by 2030, reaching 92 million, up from 73 million in 2024. Therefore, the rising trend of remote working is propelling the enterprise social networks market.

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What Is the projected market size and growth rate for the enterprise social networks market?
The enterprise social networks market has grown steadily in recent years. It is expected to increase from $13.45 billion in 2024 to $15.75 billion in 2025, with a CAGR of 17.1%. The expansion is driven by higher employee engagement, rising demand from SMEs, increasing remote work, improved integration with existing tools, and the growth of e-commerce.

The enterprise social networks market is expected to grow rapidly, reaching $29.33 billion by 2029 at a CAGR of 16.8%. Growth is driven by the growing importance of data analytics, knowledge management, support for agile work environments, customizable solutions, and a shift toward employee-centric cultures. Trends include AI and machine learning integration, enhanced security features, gamification, blockchain adoption, and social learning platforms.

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What new trends are reshaping the enterprise social networks market and its opportunities?
Major companies in the enterprise social networks market are integrating AI-powered networking platforms to boost collaboration, streamline communication, and improve productivity. AI-powered platforms analyze data to connect employees with relevant contacts and opportunities. In May 2023, Goldman Sachs launched Louisa, an AI-powered social media platform designed for corporate environments. It uses AI to automatically generate profiles and connect employees based on shared interests and potential deals.

What major market segments define the scope and growth of the enterprise social networks market?
The enterprise social networks market covered in this report is segmented -

1) By Type: Cloud Or Web Based Enterprise Social Network Platform, On Premises Enterprise Social Network Platform
2) By Enterprise Size: Small And Medium Sized Enterprises (SMEs), Large Enterprises
3) By Industry: Education, Travel And Hospitality, Media And Entertainment, Healthcare, Information Technology (IT) And Telecom, Retail, Government And Non-Profit, Other Industries

Subsegments:
1) By Cloud Or Web-Based Enterprise Social Network Platform: Software-As-A-Service (Saas) Platforms, Collaboration Tools With Social Networking Features, Enterprise Social Media Platforms, Cloud-Based Knowledge Sharing And Community Platforms, Social Intranet Solutions Hosted On The Cloud
2) By On-Premises Enterprise Social Network Platform: On-Premises Collaboration And Communication Tools, On-Premises Knowledge Management Platforms, Private Social Networks For Organizations, Customizable On-premises Social Platforms For Employee Engagement, Enterprise Social Intranet Systems Installed Locally

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Which regions are key players in the growth of the enterprise social networks market?
Asia-Pacific was the largest region in the enterprise social networks market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise social networks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the enterprise social networks industry growth?
Major companies operating in the enterprise social networks market are Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., SAP SE, Salesforce Inc., Zoho Corporation Pvt. Ltd., Aurea Software Inc., Alma Suite Inc., Jive Software Inc., Beekeeper Inc., Whaller Inc., Workplace Inc., LumApps Inc., Jalios SA, Happeo Inc., Igloo Software Inc., Vanilla Forums Inc., Jostle Corporation, Socialtext Inc., Talkspirit Inc., Jamespot Inc., Boonex Ltd., Axero Solutions Inc., Zyncro Tech S.L.

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What Is Covered In The Enterprise Social Networks Global Market Report?

•Market Size Forecast: Examine the enterprise social networks market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the enterprise social networks market for a structured understanding.
•Key Players Overview: Analyze major players in the enterprise social networks market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the enterprise social networks market.
•Segment Contributions: Evaluate how different segments drive overall growth in the enterprise social networks market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the enterprise social networks market.
•Industry Challenges: Identify potential risks and obstacles affecting the enterprise social networks market.
•Competitive Landscape: Review strategic developments in the enterprise social networks market, including expansions, agreements, and new product launches.

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