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Team Collaboration Software Market Size, Industry Outlook and Forecast to 2027

The global team collaboration software market is set to gain impetus from the increasing trend of bring-your-own-device (BYOD) in various small and medium-sized enterprises (SMEs). It helps in lowering the initial infrastructure costs that tend to limit early development. This information is given by Fortune Business Insights™ in a new report, titled, “Team Collaboration Software Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Deployment (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By End-User (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Manufacturing, Retail and Consumer Goods, Healthcare, Transportation and Logistics, Education, Others), and Regional Forecast, 2020-2027.” The report further mentions that the market size was USD 13.44 billion in 2019 and is projected to reach USD 35.71 billion by 2027, exhibiting a CAGR of 13.2% during the forecast period.

Request a Sample Copy for more detailed Team Collaboration Software Market Overview: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/team-collaboration-software-market-101327

COVID-19: Work from Home Initiative to Help Market Generate More Shares

In April 2020, Vyopta Incorporated published a blog that showcases that the number of participants joining online meetings increased by 3 times, as compared to January. This proves that the emergence of COVID-19 pandemic is compelling companies to adopt the software solutions for promoting the work from home culture. Some of the software providers, such as Zoom, are exhibiting high growth owing to the complete lockdown measures set by the regulatory agencies. We are providing extensive analysis of the current scenario of this market.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/team-collaboration-software-market-101327

“Key players are expected to emphasize integrating Artificial Intelligence in the system. This is anticipated to propel the growth in the global Team Collaboration Software market,” said a lead analyst at Fortune Business Insights.

Regional Analysis-

Rising Number of Smartphone Users to Augment Growth in Asia Pacific 

In 2019, North America held USD 5.65 billion in terms of revenue. The stable economic growth and rising technological advancements in the region would aid growth. At the same time, the increasing usage of this software for efficiently carrying out project activities and improving internal team communications in the region is anticipated to bolster growth. Asia Pacific, on the other hand, is expected to show a high CAGR in the near future. This growth is attributable to the presence of numerous smartphone users in the region, as well as the availability of cloud service providers.

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Competitive Landscape-

Key Companies to Develop New Team Collaboration Software for Intensifying Competition

The market includes several companies that are focusing on the strategy of innovative product launches to cater to the high consumer demand. Some of them are trying to invest in research and development activities as well. Below are two latest industry developments:

  • June 2020: Slack Technologies, Inc. launched Slack Connect, a set of technologies that would refine the company’s real-time communications collaboration platform across 20 businesses.
  • January 2020: Citrix Systems, Inc. introduced its next-generation service called Citrix® Analytics for Performance. It would help IT administrators to detect performance issues and address them proactively to provide a smooth experience.

Purchase Full Report for Exclusive Team Collaboration Software Market Growth Forecast – https://www.fortunebusinessinsights.com/checkout-page/101327

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Team Collaboration Software Market In Depth Analysis By Total Revenue And Industry Growth Rate Forecast Till 2025

Increasing shift towards an online platform to fuel demand in the global Team Collaboration Software market. The market has been witnessing the development of new technology. Fortune Business Insights has announced publishing of a report, titled “Team Collaboration Software Market Size, Industry Share and Growth Rate 2019-2026”.

Browse Complete Report Details – https://www.fortunebusinessinsights.com/industry-reports/team-collaboration-software-market-101327

“Key players are expected to emphasize integrating Artificial Intelligence in the system. This is anticipated to propel the growth in the global Team Collaboration Software market,” said a lead analyst at Fortune Business Insights.

Top Players List:

  • Adobe
  • Cisco
  • Mitel Networks Corp.
  • Avaya Inc.
  • Comindware Inc.
  • Slack
  • AT & T
  • Blackboard Inc.
  • Dropbox
  • AudioCodes Limited
  • Citrix Systems Inc.
  • Oracle
  • IBM
  • Microsoft
  • Google

Integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2018-2025. Additionally, the rising adoption of e-financial services is expected to boost the global market.

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Major Segments Mentioned:

  • By Component
  • By Deployment
  • By End-user
  • By Geography

On the contrary, high cost associated with upgraded technology is a factor that may restrain the global Team Collaboration Software market.

Regional Analysis:

  • North America (the USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

As stated in the report, North America held a significant share in the market in 2017. The region is expected to witness impressive growth during the forecast period. Owing to intense research and development taking place in the region for IoT integration in the system is likely to enable the growth in the region. Besides this, Asia Pacific is expected to witness promising growth owing to the rising adoption of a sedentary lifestyle in nations such as India and China.

The report also offers insights into the key players operating in the global Team Collaboration Software market.

Ask for Customization – https://www.fortunebusinessinsights.com/enquiry/customization/team-collaboration-software-market-101327

Major Table of Content for Team Collaboration Software Market:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Team Collaboration Software Market Analysis, Insights and Forecast, 2014-2025
  6. North America Team Collaboration Software Market Analysis, Insights and Forecast, 2014-2025
  7. Europe Team Collaboration Software Market Analysis, Insights and Forecast, 2014-2025
  8. Asia Pacific Team Collaboration Software Market Analysis, Insights and Forecast, 2014-2025
  9. Middle East and Africa Team Collaboration Software Market Analysis, Insights and Forecast, 2014-2025
  10. Latin America Team Collaboration Software Market Analysis, Insights and Forecast, 2014-2025
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

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