Team Collaboration Software Market Size Worth $17.3 Billion By 2026 - KBV Research

NEW YORK - June 29, 2020 - PRLog -- According to a new report Global Team Collaboration Software Market, published by KBV research, 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. The increase in the need for visual data sharing and digitization is an opportunity for market development. Integrating online conferencing systems with other collaboration tools improves the flexibility of collaborative solutions and facilitates effective communication between participant participants. In addition, companies have started to understand the advantages of utilizing inexpensive video conferencing tools that promote the wide-ranging adoption of team collaboration technologies.

The on-premise deployment segment gained a dominant market share in 2019, due to a more efficient platform for enforcement and data protection issues. On-premise solutions ensure low latency in data transfer rates, which in return aid organizations in the practice of cost-effective data management.

The use of team collaboration software for communication and coordination recorded the highest growth rate of the market. Team collaboration software promotes real-time data sharing and enables cross-functional teams to remain linked via email, instant messaging, voice mail and conferencing. The conferencing segment recorded a significant market share in 2019.

Global Team Collaboration Software Market Segmentation

By Type

• Communication & coordination software
• Conferencing software

By Deployment Type

• On-premise
• Cloud

By End-User

• IT & Telecom
• Retail
• Logistics & Transportation
• Manufacturing
• Healthcare & Life Sciences
• BFSI
• Others

By Geography

North America

• US
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific

LAMEA

• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• 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)
Structural Insights: https://www.kbvresearch.com/team-collaboration-software-market/