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Press Release

Enterprise Collaboration Market Expected to Reach $70.61 Billion by 2019- New Report by MarketsandMarkets

>PRWEB.COM Newswire

(PRWEB) May 16, 2014

The report "Enterprise Collaboration Market [Solutions (Telephony, Unified Messaging, Conferencing, Collaboration Platforms, Enterprise Social), Services, Deployment, User Types (SME, Enterprises)] - Global Advancements, Worldwide Forecasts & Analysis (2014 - 2019)", defines and segments the Enterprise Collaboration market into various sub-segments with an in-depth analysis and forecasting of revenues. The report also identifies the factors driving this market, various restraints and opportunities impacting it along with the technology roadmap and adoption trends.

Browse more than 93 market data tables with 42 figures spread through 216 pages and in-depth TOC on "Enterprise Collaboration Market [Solutions (Telephony, Unified Messaging, Conferencing, Collaboration Platforms, Enterprise Social), Services, Deployment, User Types (SME, Enterprises)] - Global Advancements, Worldwide Forecasts & Analysis (2014 - 2019)."

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MarketsandMarkets forecasts the Enterprise Collaboration market to grow from $47.30 billion in 2014 to $70.61 billion in 2019. In terms of geographies, North America and Europe is expected to be the biggest market in terms of revenue contribution, while Asia-Pacific (APAC) and Europe are expected to experience increased market traction, during the forecast period.

Banking, Financial services and Insurance (BFSI), Business services and IT and Telecom verticals accounts for the top 3 largest market during the period 2014-2019. The Enterprise Collaboration software is applicable and is crucial for every vertical; for any type of business, as today majority of businesses relies on internal as well as external communications to take key decisions. The essentialities of today's business communications are: continuous connectivity, internet service and real time data sharing. Nowadays, businesses want to gain competitive advantage by taking key decisions before their competitors and for this organizations keep their employees updated and informed about all the recent changes. Organizations take measures to ensure real time sharing of information but communication gap/delays do occur. To avoid this, Enterprise Collaboration is very important. Enterprise Collaboration solution helps to integrate different devices being used by employees to connect with other devices and to the company network infrastructure.

Apart from Banking, Financial services and Insurance (BFSI), Business services and IT and Telecom, there are few other revenue pockets, namely Manufacturing, Retail and wholesale, Healthcare and Government, which will witness significant growth during the forecast period.

The Enterprise Collaboration solutions are crucial in delivering any type of business communications, for any type of business. The application of Enterprise Collaboration solutions across top 3 verticals:

Application in Banking, Financial services and Insurance (BFSI) market:

  • Provides integrated solutions for lenders, branch employees, call center agents and specialists in a collaborative environment.
  • Provides employees and customers with exact information needed by them and helps to reduce the time taken by them to search for information.
  • Helps to create workspaces for small teams who need to work together on projects/tasks.
  • Reduces IT overhead costs for providing a collaborative environment.
Application in Business services market:
  • Helps to increase the efficiency and productivity of enterprise, team and individual.
  • Improve knowledge sharing and collaboration among individuals, teams, departments and organizations.
  • Reduce response time to queries and questions/doubts by customers or colleagues.
  • Provides communication to teams across the globe at all the levels of organization.
Application in IT and Telecom market:
  • Helps to communicate better with customers on their requirements and the products and services being offered to them.
  • Helps in delivering personalized solutions and thus helps in building customer loyalty.
  • Better revenue opportunities by connecting with customers at a personalized level.
  • Reduce service calls expenditure by providing personalized services to the clients.
Application in other revenue pockets, such as, Healthcare, BFSI and Government sectors:
  • Assist in Healthcare industry by providing real time updates about patients to the team of doctors and enables better and quicker decision by doctors.
  • Assists in manufacturing industry by saving costs of supply chain management, better communication with customers and improve employee potential by boosting peer relationships.
  • Real-time information about stocks held at each store leads to better sales, reduced inventory costs, and better supply chain decision making.
  • Helps government agencies, departments and contractors come together and communicate on a single platform.

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