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Enterprise Social Software Industry Likely to touch US$6.1 bn by 2022

Feb 4th 2019 at 3:01 AM

The global enterprise social software market is envisaged to gain traction on the back of the growing adoption of social media. The penetration of sites related to social media is at its peak. Employees are asking for a similar experience at their work sites. The market could be propelled further with the surging count of positive case studies of organizations producing an encouraging return on investment (ROI). This could also be helped by the mounting count of use cases of Social Software. The market is envisioned to experience a positive effect due to the confluence of collaboration software and social software into one solution offering.

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The publication covers the current scenario and future growth opportunities of the global enterprise social software market for the forecast period 2017–2022. Moreover, factors such as market trends, growth drivers and restraints, and vendor competition are comprehensively explained by the analysts.

At a staggering rate, the need for niche software could be said to have aggravated significantly in the recent time. This is prophesied to be on account of an increase in the requirement of enterprise social technology. As a result, the world enterprise social software market could receive a solid push in its growth in the coming years. A number of software developers are becoming part of the software bandwagon to provide or develop enterprise social software across the world. The influx of software developers in the industry could be attributed to the rise of enterprise social software gaining impetus around the world, including emerging regions such as Africa and Asia Pacific.

The international enterprise social software market is anticipated to witness the presence of segments such as small, medium, and large by enterprise size. As per the analysis of the researchers, large enterprise could be a stronger market representing an estimated US$1.7 bn of revenue size in 2017. Between 2017 and 2022, this market is prognosticated to grow at an annual revenue of approximately US$0.4 bn.

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As per vertical, the international enterprise social software market could be classified into banking, financial services, and insurance (BFSI), healthcare, IT and telecommunications, retail, and government.

By type of deployment, the international enterprise social software market is predicted to be segmented into on-premise and cloud-based.

Regionally, the international enterprise social software market could be segregated into North America, Latin America, Europe, Asia Pacific except Japan (APEJ), and the Middle East and Africa (MEA) and Japan. Amongst these regions, the report states that North America could lead the market with a roughly US$0.9 bn expected to be secured under its belt in 2017.

The analysts profile some of the dominating companies in the worldwide enterprise social software market such as Aurea, Inc., IBM Corporation, Lithium Technologies, Inc., Microsoft Corporation, Salesforce.com, Inc., SAP, Socialtext, Inc., Synacor, Inc., TIBCO Software, Inc., and VMWare, Inc. Besides a complete company profile, the report provides an important analysis of the market shares of key players.

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