Market Research Report
Collaboration Tools - Thematic Research
|Collaboration Tools - Thematic Research|
Published: December 13, 2021
Content info: 44 Pages
Delivery time: 1-2 business days
The collaboration tools market contains many companies, from hyperscalers and telecom operators to small, cloud-based providers. Enhancing user experience to meet the expectations of an increasingly tech-savvy customer base is vital for differentiation. Companies investing in artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) capabilities will be the most successful. Such technologies will be critical in the emerging hybrid workplace to ensure employees can access essential enterprise applications and corporate data regardless of location.
According to GlobalData forecasts, the communications and collaboration (C&C) market will grow to $309 billion by 2025. Software will be the fastest-growing segment. The communication platforms segment, which was worth $16.3 billion in 2020, will grow at a CAGR of 15% between 2020 and 2025. The growing number of employees working from remote locations and the need to establish strong links between them and office-based staff is driving enterprise adoption of C&C tools.
Meta (formerly Facebook) and Microsoft have already revealed their versions of the enterprise metaverse, a virtual world where users share experiences and interact in real-time within simulated scenarios. The competition will only increase as augmented versions of collaboration tools become increasingly commonplace. There is a strong belief that the metaverse will be the next-generation interface enabling users to access multiple services. However, it remains to be seen whether office workers, many of whom are already struggling with 'Zoom fatigue' following the COVID-19 pandemic, will find it appealing to interact with digital avatars in the corporate metaverse.