Global Collaboration Software Market: Things to Focus on to Ensure Long-term Success 2020-2026

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Global Collaboration Software Market Factors
Helping to Maintain Strong Position Globally
2020-2026
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Industry Overview

• Accordingly, to Global Market Insights research
  report the collaboration software market is
  estimated to garner remarkable revenue growth on
  account of surging demand for real-time file or
  resource managing, sharing, and processing
  services. Collaboration software can improve task
  management and processing capabilities by
  establishing an effective coordination system
  among team members. It offers a centralized
  approach for collaborative process management.
• Mounting need for remote management and
  interoperability of projects across businesses
  could massively aid the industry growth.
  Businesses have started to evolve, with numerous
  enterprises looking for an effective system to
  share their critical information with third-party
  business partners. This has fueled the adoption
  of cloud-based groupware services. On this note,
  Global Market Insights, Inc., projects that the
  collaboration software market could cross USD 30
  billion by the year 2026.
• However, factors like scalability issues and flat
  adoption rates across SMEs could hinder the
  growth of the collaborative software industry.
  Additionally, concerns like low efficiency,
  scalability problems, and integration with
  existing infrastructure could impact the adoption
  rate of this software. Technology companies are
  working on mitigating these issues by developing
  a more advanced and flexible collaboration
  software that has robust integration capabilities.

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• In terms of application, the collaboration
  software market is bifurcated into IT
  telecommunications, BFSI, education, healthcare,
  retail consumer goods, and government. Out of
  these, the education segment is projected to
  maintain a compound annual growth rate of 13 by
  2026. The ongoing coronavirus crisis has affected
  the workflow of educational institutions.
• Universities and colleges are therefore turning
  towards collaboration software for delivering
  quality educational services to students. For
  example, earlier in March 2020, Avaya Holdings
  Corp. offered its Avaya Spaces collaboration
  software to universities and colleges for free.
  This allowed educational institutes to resume
  their daily classes and deliver education to
  students.
• On the regional landscape, North America is
  considered to be an ideal region for
  collaboration software companies, since it has
  held a substantial share of the global market
  share in 2019. The region is expected to show
  healthy growth over the predicted timeframe.
  North America is renowned for its rich presence
  of tech enterprises like Google LLC, Slack
  Technologies, and IBM Corporation.
• Large scale organizations across the region are
  implementing collaboration software in their
  business models for large project management.
  Taking June 2019 for instance, Microsoft
  Corporation released a partner-to-partner
  collaboration system in its partner network. This
  would simplify the process of delivering
  cloud-based solutions and integrating partner
  technology.

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Growth Drivers

• Growing popularity of the work from home trend
• Rising demand of unified communications
• Surging need for streamlining business
  communication process flows
• Growing demand to reduce administration and
  maintenance cost
• Rising adoption of wireless devices

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• Top key Player are ATT Inc., Atlassian
  Corporation Plc, AudioCodes Ltd., Avaya Inc.,
  Blackboard Inc., BOX, Inc., Cisco Systems Inc.,
  Citrix Systems Inc., Google LLC, IBM Corporation,
  LogMeIn, Inc., Micro Focus International plc,
  Microsoft Corporation, OpenText Corporation,
  Oracle Corporation, Polycom, Inc., Slack
  Technologies, Inc., SMART Technologies,
  TeamViewer GmbH, Zoho Corporation Private
  Limited, and Zoom Video Communications, Inc.

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