ENTERPRISE COLLABORATION SERVICE MARKET ANALYSIS

1. Coherent Market InsightsMarket Research and Business Consulting Serviceshttps://www.coherentmarketinsights.com ENTERPRISE COLLABORATION SERVICE MARKET ANALYSIS

2. Market Overview • Enterprise collaboration is a system of communication among corporate workers, which may include the use of enterprise social networking tools, collaboration platforms, public internet, and corporate internet. Enterprise collaboration services are comprehensive capabilities that allow employees in the organization to store, share, and jointly modify data and information with one another regardless of different geographical locations. Different technologies are included in enterprise collaboration such as video conferencing, groupware, document sharing capabilities, and more. An adequately designed enterprise collaboration system simplifies the communication process, which has become complex for employees in an organization largely due to the expansion of the work environment. Apart from employees within the company, other stakeholders such as vendors, customers, partners, and contractors can make a fruitful contribution to work getting done. • The global enterprise collaboration service market was valued for US$ 34.52 Bn in 2019 and expected to reach US$ 76.86 Bn by 2027.

3. Market Driver • Growing demand for enterprise mobility and mobile workforce is expected to drive growth of the global enterprise collaboration service market during the forecast period • Over the years, the number of mobile workers has increased significantly across the globe. Increasing liberalization worldwide has compelled large enterprises to enter into cross-border markets, which in turn, is increasing the need for collaboration tools. These tools would enable effective communication among employees of the company. According to Cisco IBSG 2012, around 84% of the people surveyed were positive about the growth of the BYOD trend around the world. Enterprise collaboration services support mobility, increase productivity, and provide flexibility across the business. Moreover, organizations could conduct online meetings using video conferencing and audio conferencing, owing to increasing support of collaboration services. Thus, these factors are expected to drive growth of the global market during the forecast period. • Increasing penetration of mobile devices is expected to propel the global enterprise collaboration service market growth over the forecast period • According to the Ericsson Mobility Report 2015, smartphone subscriptions are expected to more than double by 2020. It is also anticipated that by 2020, around 70% of the world population would own a smartphone to get connected to Internet. Smartphones and tablets are compatible with audio & video conferencing, email, IM, and social networking via PBX mobile extensions and software clients. Hence, most of the IP PBX vendors provide an integrated voice into their UCC portfolios to further extend their enterprise UCC functionality. This functionality was previously available only through smartphone and desktop phones to tablets, smartphones, and cell phones via mobile client software. Furthermore, availability of low-priced smartphones is expected to support the global enterprise collaboration service market growth over the forecast period.

4. North America region dominated the global enterprise collaboration service market in 2019, accounting for 51.1% share in terms of value, followed by Europe and Asia Pacific, Latin America and Middle East respectively.

5. Market Dynamics- Restraints • Concerns regarding security of data are expected to restrain growth of the global enterprise collaboration service market during the forecast period • Over the years, cyber-attacks have increased significantly thereby making data breach a critical issue for organizations. As voice data is transmitted over Internet lines, Voice over Internet Protocol (VoIP) and streaming media service encounter security threats and are vulnerable to cyber-attack. As voice data is transmitted over Internet lines, Voice over Internet Protocol (VoIP) and streaming media service encounter security threats and are vulnerable to cyber-attack. This has hindered the confidence in end users considering implementing these services. Since companies are shifting to a more collaborative environment, there will be an increased flow of data and content both within the organization and with external parties. Thus, these factors are expected to restrain the growth of the market in the near future. • High cost of implementation is expected to hamper the global enterprise collaboration service market growth over the forecast period • Implementing enterprise collaboration service requires adequate investment and timely inspection. Such high cost implementation is difficult for small and medium-sized enterprises thereby making them reluctant to implement the system altogether. Many SMEs are unwilling to implement these services due to high operational cost, which in turn, is expected to hamper the global enterprise collaboration service market growth over the forecast period.

6. Market Opportunities • Increasing social business collaborations is expected to present lucrative growth opportunities • The use of social media for business has increased substantially in the recent past as a means of harnessing the power of social collaboration tools such as Lync and Office 365. These tools empower employees, partners, and create customer engagement in real-time. Thus, vendors in the market are focused on building ecosystems to make social business integration compelling for organizations. Moreover, increasing the use of enterprise social software solutions such as Yammer, Jive, IBM Connections, and Salesforce Chatter has accelerated the adoption of social business solutions in organizations from an employee collaborative perspective. • High demand for AI across the globe is expected to provide major business opportunities • Many service providers are focused on integrating enterprise collaborative services with artificial intelligence (AI), in order to provide enhanced communication and collaborative services. Integration of AI and cutting-edge technology can enable enterprises to share data and information with other parties easily and provide enhanced services. The demand for AI-integrated enterprise collaborative services is expected to increase, owing to growing adoption of IoT and machine learning in various businesses.

7. Market Trends • Introduction of browser-based communication solutions • Enterprise is focused on simple and effective communication through browsers with the introduction of the WebRTC platform. WebRTC is an application programming interface (API), which can easily be integrated with existing unified communication tools. Moreover, WebRTC is compatible with real-time video and voice calling within WebRTC-enabled browsers. Vendors in market are expected to integrate WebRTC in their solutions in the near future. For instance, in 2014, Twilio Inc. partnered with IBM Corporation to create IBM BlueMix which provides a platform to developers in building applications such as application dialing, conference calling, and group texting. • Comprehensive and prolonged management service • Vendors in the global enterprise collaboration service market are focused on diversifying their offering by providing integration and maintenance service to end-use applications. Moreover, service providers are adoption centralized approach to create, capture, organize, access, and assess an organization’s entire enterprise ecosystem of knowledge assets, media, and electronic documents.

8. Segment information In global enterprise collaboration service market, by Type segment, the Software, sub-segment dominated the global market in 2019, accounting for 42.9% share in terms of value, followed by hardware and service respectively.

9. Competitive Section • Key players operating in the global enterprise collaboration service market are Fuze Inc., Cisco Systems, Inc., GENBAND, Inc., IBM Corporation, Atlassian Corp PLC, Microsoft Corporation, Xura, Inc., Alcatel-Lucent SA (Nokia Networks), Vonage networks LLC, Unify, Inc. (Atos SE), Tropo, Inc., Hewlett-Packard Development Company, L.P., Cafex Communications Inc., Mitel Networks Corporation, ShoreTel Inc., Polycom, Inc., and 8x8, Inc.

10. Key Developments • Key players in the market are focused on collaboration and partnership, in order to enhance the market presence. For instance, in July 2019, IBM Corporation collaborated with AT&T Inc., where AT&T communication will use IBM’s expertise to modernize AT&T Business Solutions’ internal software application. • Major market companies are involved in mergers and acquisitions, in order to gain competitive edge in the market. For instance, in January 2017, Atlassian Corp PLC, a provider of team collaboration software, acquired Trello, a web-based list style marketing application.

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