Global Team Collaboration Software Market By Type (Communication & coordination software and Conferencing software) By Deployment Type (On-premise and Cloud) By End User (IT & Telecom, Retail, Logistics & Transportation, Manufacturing, Healthcare & Life Sciences, BFSI and Others) By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Team Collaboration Software Market size is expected to reach $17.3 billion by 2026, rising at a market growth of 12.9% CAGR during the forecast period. Team collaboration software allows to process, manage, and share documents, files, and other documents between systems or multiple users. Team collaborative software allows two or more remote clients to work on the same project or task in equal measure. This type of software is therefore very effective for group processes that help people involved in a mutual task to achieve their goals.
Global Team Collaboration Software Market Size
In addition, community associates are able to create workspaces that are open and viewable for all other members from various places, with the aid of team coordination tools. Additionally, solutions for collaboration and conferencing regularly become a mainstream tool for effective communication. Various organizations around the globe have already installed collaborative software to streamline their business processes, better manage projects of all sizes and boost their work efficiency across the management or board.
The advent of digitalization is the primary factor that promotes the growth of the Team Collaboration Software Market. In addition, the increasing prevalence of smartphone users, coupled with advances in the latest technologies, is expected to further help increase the overall size of the Team Collaboration Software Market in the forecast period. In addition, the rising trend of Bring Your Device (BYOB) and Work-from-home culture is also expected to help attract more revenue from the Team Collaboration Software Market in the years to come.
Team Collaboration Software Market Share
The global pandemic, COVID-19 (coronavirus), provides substantial market growth. Emerging pressure for government institutions to practice social distancing due to the highly infectious nature of the disease has prompted businesses to adopt work-from-home (WFH) business practices. The introduction of these approaches for good business activities and the resulting need to work with different team leaders and other cross-functional teams would provide a boost for market development.
Based on Type, the market is segmented into Communication & coordination software and Conferencing software. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into IT & Telecom, Retail, Logistics & Transportation, Manufacturing, Healthcare & Life Sciences, BFSI and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Team Collaboration Software Market to reach a market size of $17.3 billion by 2026
Team Collaboration Software Market Cardinal Matrix
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix, Microsoft Corporation, Cisco Systems, Inc., Oracle Corporation, AT&T, Inc., and IBM Corporation are the forerunners in the Team Collaboration Software Market. Companies such as OpenText Corporation, Avaya Holdings Corporation, and Adobe, Inc., Blackboard, Inc., and Citrix Systems, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AT&T, Inc., Adobe, Inc., Citrix Systems, Inc., IBM Corporation, Microsoft Corporation, OpenText Corporation, Oracle Corporation, Avaya Holdings Corporation, Cisco Systems, Inc., and Blackboard, Inc. (Providence Equity Partners).
Recent Strategies Deployed in Team Collaboration Software Market
» Partnerships, Collaborations, and Agreements:
- May-2020: AT&T collaborated with Cisco following which the companies launched Webex Calling with AT&T aimed at expanding access to cloud-based phone capabilities. Webex Calling can help more businesses in transforming their voice communications to better adapt to evolving needs using AT&T’s highly secure and reliable network. Built on the Webex Calling platform, AT&T provides more ways to connect by including access to Webex Teams for business calls, meetings, and team collaboration.
- Apr-2020: Adobe collaborated with Qumulo, the leading provider of enterprise-proven hybrid cloud file storage and data services. The collaboration aims to help media and entertainment organizations leverage collaborative workflows in the cloud. Adobe Premiere Pro and After Effects, together with Qumulo’s file services, allow collaborative teams to create and edit video footage using cloud storage with the same levels of performance, access, and functionality as workstations in the studio.
- Apr-2020: Avaya announced collaboration with ConvergeOne, an IT service provider. Through this collaboration, the latter company aimed to expand its midmarket portfolio by integrating Cloud Office ConvergeOne Cloud Experience (C1CX) with Avaya Cloud Office. The customers can simplify the management of their communication system and get the full suite of collaboration features in a single application.
- Apr-2020: Blackboard announced its partnership with OneConnect, an innovative provider of turnkey technology solutions and services to African organizations. Under the partnership, the latter company would enable the institutions to use Blackboard’s technologies to empower their students to achieve their learning outcomes through the use of modern technology and to be capable of harnessing the potential of the Fourth Industrial Revolution.
- Mar-2020: Adobe announced its collaboration with Google following which G Suite would be integrated with Adobe. The integration would bring Creative Cloud workflows into Gmail, now available in the G Suite Marketplace. Bringing Creative Cloud into G Suite aimed to allow a mutual user base to simplify routine tasks while staying productive in their inbox.
- Mar-2020: Microsoft announced its partnership with Intrado Corporation, a global leader in technology-enabled services. Following the partnership, the latter company introduced the powerful hosted voice solution, MaxxConnect for Microsoft Teams. MaxxConnect for Microsoft Teams provides the efficiency and economic benefits of network convergence, eliminating the need for local PSTN gateways and costly PRIs.
- Feb-2020: Avaya Holdings partnered with RingCentral, a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. Following the partnership, the companies launched Avaya Cloud Office by RingCentral. Avaya Cloud Office integrates RingCentral’s industry-leading unified communications as a service (UCaaS) platform with Avaya phones, services, and migration capabilities for developing a highly differentiated solution backed by communications experts that delivers cloud services with extensive communication and collaboration capabilities for businesses of all sizes.
- Nov-2019: AT&T extended its partnership with the RingCentral brand. The upgraded partnership aimed to make AT&T’s offering "Office@Hand” into a lead offer for Unified Communications as a Service solution offered by RingCentral. The AT&T offering would be an important part of the broad RingCentral Voice and Collaboration portfolio. The AT&T Office@Hand solution is based on the RingCentral platform, and it brings an extensive mobile-first solution into the market for online meetings, video, voice, messaging, and collaboration among team members.
- Nov-2019: Cisco came into partnership with Microsoft Corporation. The partnership enabled Cisco’s Webex video devices to connect to the Microsoft Teams meeting services in multiple ways. Following the partnership, the former company aimed to launch an interop solution that would be certified as a Microsoft Cloud Video Interop (CVI) offering to allow Cisco Webex Room devices and SIP video conferencing devices to join Microsoft Teams meetings with a reliable interop experience.
- Oct-2019: Cisco teamed up with NextPlane, leading providers of interoperability and federation services for collaboration solutions. Under this collaboration, the latter company announced several federation capabilities for Cisco’s Webex Teams. With the latest support arriving for Cisco Webex Teams, NextPlane provides a vast selection of universal interoperability services, including solutions for all of Cisco’s tools, including Cisco Jabber.
- Sep-2019: Adobe teamed up with DrFirst, the leading provider of e-prescribing, patient medication management, and price transparency solutions. Following the collaboration, the latter company's Backline secure care collaboration platform has become the first such mobile solution for the healthcare market to offer an e-signature capability. With Adobe Sign integrated into the Backline care collaboration platform, health care teams can focus on meaningful experiences with patients rather than administrative tasks.
- Sep-2019: Oracle signed a cloud interoperability partnership with Microsoft. Following the partnership, Oracle announced integration between Oracle Digital Assistant and Microsoft Teams. Enterprise customers can access Oracle Cloud Applications through an AI-powered voice experience in Teams. With the help of Oracle Digital Assistant, business users can simply and conversationally interact with business applications directly from their Microsoft Teams interface just as they would collaborate with their fellow employees or other productivity tools.
- Sep-2019: Oracle collaborated with Box, Inc., a cloud content management and file sharing service for businesses. The collaboration was focused on enabling customers to connect their cloud and on-premises Oracle and third-party applications with Box via Oracle Integration. Through this integration, enterprise customers can seamlessly connect applications with Box as their unified cloud content management layer to power secure collaboration and workflows around their most valuable content in the cloud.
- Jul-2019: AT&T Communications signed partnership agreement with Microsoft Corporation. Under the partnership, the companies aimed to apply technologies, including cloud, AI, and 5G, to improve how people live and work today and in the future. AT&T would provide much of its workforce with robust cloud-based productivity and collaboration tools available with Microsoft 365, and would migrate non-network infrastructure applications to the Microsoft Azure cloud platform.
» Product Launches and Product Expansions:
- Apr-2020: Adobe announced new features in its Premiere software for redefining Adobe video editing. Premiere now includes a customizable Productions panel, which enables people to define how they will organize a project and bring in new content. The Production panel is the command center providing access and visibility into different workflows.
- Apr-2020: OpenText unveiled a comprehensive cloud update. The update provides a strengthened information infrastructure to empower organizations to quickly respond and adapt to a business climate defined by new ways to work. OpenText Cloud Editions (CE), OpenText OT2 Applications, and the new Business Network are designed for helping the customers in managing and transforming to new priorities, OpenText OT2 20.2 features new purpose-built Core SaaS applications that extend the value of existing OpenText on or off cloud deployments.
- Mar-2020: Blackboard unveiled the Blackboard Collaborate Self-Service Portal. The portal enables higher education institutions, school districts, and organizations to implement the virtual classroom solution, specifically designed for educators and students, within hours.
- Feb-2020: Avaya Holdings added new capabilities to Avaya Spaces. The capabilities provide a multi-experience approach by centralizing voice, video, messaging, chat, and task management in one place for improving productivity and increasing employee satisfaction. Avaya Spaces is a cost-effective cloud meeting and team collaboration app, which integrates voice, video, tasks, sharing, and more into one app that can be accessed from any endpoint device.
- Jul-2019: Avaya introduced the Cloud-based video conferencing and collaboration service in India. The service can transform workplace experiences by turning any space into a video collaboration room. A subscription-based service, Avaya Equinox Meetings Online (AEMO) provides customers with unlimited use of virtual meeting rooms and offers them a customized user interface for access to voice, video, chat communications channels, calendar, meetings, and more.
- Jul-2019: Avaya introduced the CU360, a compact Android-based collaboration unit, and Avaya Equinox Meetings Online (AEMO), a high-quality cloud conferencing service. It has Android 7.1.2 Nougat and Aura, IPO, and Avaya Breeze Client SDK support.
- Nov-2018: Cisco released collaboration hardware products. The products include Webex Share, a palm-sized adapter that plugs into a device and connects to any screen without a dongle or cable to share screens; Webex Room Kit Mini, a custom-made camera with AI capabilities that can be placed in any room to help facilitate remote meetings and share content; and the latest version of Webex Board, Cisco’s digital whiteboard solution.
- Mar-2018: Microsoft added new capabilities to its Teams product. These capabilities include Cortana voice interactions, message translations, and cloud-based recording and transcription. Cloud recording enables participants to record meetings with one click, as well as offer automatic transcription and timecoding. Written posts can be translated, while Cortana enables users to join meetings, add others to a meeting, or make calls using spoken natural language.
Scope of the Team Collaboration Software Market Analysis
- Communication & coordination software
- Conferencing software
By Deployment Type
- IT & Telecom
- Logistics & Transportation
- Healthcare & Life Sciences
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- AT&T, Inc.
- Adobe, Inc.
- Citrix Systems, Inc.
- IBM Corporation
- Microsoft Corporation
- OpenText Corporation
- Oracle Corporation
- Avaya Holdings Corporation
- Cisco Systems, Inc.
- Blackboard, Inc. (Providence Equity Partners)
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Team Collaboration Software Market Related Reports:
What would be the value of the global team collaboration software market by 2026?
The team collaboration software market size is projected to reach USD 17.3 billion by 2026.
What are the major top companies in the competitive landscape?
AT&T, Inc., Adobe, Inc., Citrix Systems, Inc., IBM Corporation, Microsoft Corporation, OpenText Corporation, Oracle Corporation, Avaya Holdings Corporation, Cisco Systems, Inc., and Blackboard, Inc. (Providence Equity Partners).
At what CAGR is the team collaboration software market estimate to grow in the forecast period?
The expected CAGR of the team collaboration software market is 12.9% from 2020 to 2026.