May 28, 2019   SOURCE: PR NewsWire

Team Collaboration Software Market Size Worth $16.60 Billion by 2025 | CAGR: 9.5%: Grand View Research, Inc.

SAN FRANCISCO, May 28, 2019 /PRNewswire/ -- The global team collaboration software market size is poised to reach USD 16.60 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 9.5% during the forecast period. Surging demand for communication and conferencing solutions among enterprises is likely to drive the market.

https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

Key suggestions from the report:

    --  Cloud-based software is expected to witness substantial growth over the
        forecast period as it reduces the infrastructure cost and offers a
        centralized management system
    --  The conferencing software segment is expected to post a significant CAGR
        over the forecast period. Growing deployment of conferencing solutions,
        such as Cisco Webex Meetings, Cisco Jabber, and Adobe Connect, is
        expected to supplement segment growth
    --  The healthcare segment is projected to register the highest CAGR during
        the forecast period. The growth can be attributed to increasing need for
        patient engagement and sharing real-time information with them
    --  Key market players include Microsoft Corporation, Cisco Systems, Inc.,
        Citrix Systems, Inc., and Oracle Corporation. Integrating software,
        hardware, and network capabilities together is the growth strategy
        adopted by the key players to stay ahead in the market.

Read 141 page research report with TOC on "Team Collaboration Software Market Analysis Report By Application, By Software Type (Conferencing, Communication & Coordination), By Deployment (Cloud, On-Premise), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/team-collaboration-software-market

Increasing need for digitization and visual data sharing is anticipated to stir up the demand for communication and conferencing solutions. Declining cost of video conferencing solutions is encouraging its large-scale deployment across organizations, which earlier was not possible due to high cost of installation. Moreover, integration of web conferencing with other communication tools to develop additional applications into collaborative workspaces is projected to augment the market over the next few years.

Application Program Interfaces (APIs) have enabled organizations to bridge together multiple platforms, providing an omnichannel experience to customers. APIs allow users to work efficiently from remote locations, as they integrate both cloud and on-premise applications, creating a seamless communication between systems and employees.

Organizations are increasingly deploying voice-based virtual team members to assist employees in daily meetings and reporting as part of their efforts to ensure a comfortable workspace for employees. Artificial intelligence is also being used to develop innovative team collaboration software. Augmented Reality (AR) and Virtual Reality (VR) are also being increasingly utilized for the development of team collaboration software.

Enterprises have started realizing the importance of using AI bots and Smart Virtual Personal Assistants (SVPAs) in automating various tasks and improving workplace collaboration. This, in turn, is working in favor of the market. Organizations are already using bots for collaboration purposes, such as taking notes and scheduling meetings.

Grand View Research has segmented the global team collaboration software market on the basis of deployment, software, application, and region.

    --  Team Collaboration Software Deployment Outlook (Revenue, USD Million,
        2014 - 2025)
        --  Cloud
        --  On-premise
    --  Team Collaboration Software Type Outlook (Revenue, USD Million, 2014 -
        2025)
        --  Conferencing software
        --  Communication & coordination software
    --  Team Collaboration Software Application Outlook (Revenue, USD Million,
        2014 - 2025)
        --  Manufacturing
        --  BFSI
        --  IT & telecom
        --  Retail
        --  Healthcare
        --  Logistics & transportation
        --  Education
    --  Team Collaboration Software Regional Outlook (Revenue, USD Million, 2014
        - 2025)
        --  North America
            --  U.S.
            --  Canada
        --  Europe
            --  Germany
            --  U.K.
        --  Asia Pacific
            --  China
            --  India
            --  Japan
        --  Latin America
            --  Brazil
            --  Mexico
        --  Middle East and Africa (MEA)

Find more research reports on Communication Services Industry, by Grand View Research:

    --  Communications Test And Measurement Market - The global communications
        test and measurement (CTM) market has witnessed high growth in recent
        years owing to the proliferation of the telecom industry. The industry
        is expected to grow at an approximate CAGR of over 15% from 2015 to
        2022.
    --  Web Analytics Market - Web analytics is a tool that studies the impact
        of a website on the users. It measures, collects, analyzes and reports
        web data to understand and optimize web usage.
    --  mCommerce Market - The mCommerce market is expected to grow with
        increasing number of smartphones, tablets and other internet enabled
        devices.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter

View original content:http://www.prnewswire.com/news-releases/team-collaboration-software-market-size-worth-16-60-billion-by-2025--cagr-9-5-grand-view-research-inc-300857158.html

SOURCE Grand View Research, Inc.