Collaboration Software Market: the past, the present, and the future
Companies nowadays are adopting digital workplace by using collaboration softwares to work efficiently. The emergence of the COVID-19 and the continuation of work from home are speeding up the digitalization of work environments. Tech startups are particularly more open towards adopting digital workplace, as seen by Facebook, Shopify and Twitter announcing all members to work from home indefinitely. Traditional firms and corporates also started to use collaboration tools within the company to increase work efficiency.
Let’s dive more deeply into the changing global collaboration software market.
The graph above shows the size of the past, current and future of global collaboration software market size. The total market size is expected to surpass USD 26.5 billion in 2020, and it is projected to reach USD 35.71 billion by 2027, showing compound annual growth rate(CAGR) of 13.2%.
The above graph shows the number of daily active users (DAU) of leading collaboration softwares in the market. Leading softwares include Microsoft’s ‘Teams’, Salesforce’s ‘Slack’, and ‘Zoom’, which gained its popularity as a video chat software during COVID-19.
Research experts project that the market will continue to grow rapidly as many companies plan to maintain remote work even after COVID-19. Collaboration softwares are becoming more essential as the adoption of digital workplace becomes the norm.
