March 31, 2020

Enterprise Collaboration Services Market: During the forecast period, the Managed Services segment will hold a significant growth

The latest market report published by Credence Research, Inc. “Enterprise Collaboration Services Market: Growth, Future Prospects and Competitive Analysis, 2019-2027″ was valued at US$ 32.75 million in 2018 and is expected to grow at 9.3 per cent CAGR over the forecast period from 2019 to 2027.

Market Insights 

The hyper-competitive business environment requires new ways of working together. Global technological and economic trends, including mobility, globalization, cloud and big data, are accelerating the demand for the enterprise collaborative services market. In addition, the combination of factors, including AI, the proliferation of smartphone devices and the increasing use of networking websites, is also driving the growth of the market for enterprise collaboration services.
Business communication processes are becoming faster and more advanced due to the evolving technologies, including integration of APIs and cloud platforms, which are some of the key drivers for the enterprise collaborative services market. Enterprises are moving towards a user-friendly API cloud platform that includes tools such as sandboxes, sample code and dashboards.

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Key Market Movements

• Globally, the enterprise collaborative services market is growing at CAGR by more than 9.3 per cent between 2019 and 2027

• North America is the largest revenue-contributing region to the enterprise collaborative services market with more than 1/3 of total market revenue. This is due to the early adoption of technology by the U.S., the rising adoption of cloud platforms, and AI.

• Collaborative technologies have begun to be used to build internal and external knowledge banks, organizations, public organizations in the U.S., including the U.S. Department of Defense and the U.S. Joint Forces Command, among others.

• The cloud-based deployment model is expected to dominate and will fuel market growth in the coming years. This is due to the rapid adoption of the cloud-based deployment model by all large and small and medium-sized enterprises (SMEs).

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