Rising Demand for Real-time and Remote Collaboration Tools
Enterprise collaboration tools help organisations by providing seamless communication between employees. This improves employee operational efficiency and productivity, assisting organisations in meeting their business objectives. Enterprise collaboration tools, which include features such as checking official emails, calendars, and contacts, provide data synchronization and collaboration solutions across organisations. Furthermore, video conferencing allows employees to engage in more engaging communication and share ideas.
AI and Machine Learning, Two Major Technologies to Improve Collaboration Capabilities
To improve collaborative capabilities, advanced technologies such as AI and ML are being integrated into enterprise collaboration tools. AI-powered enterprise collaboration tools can monitor employees' activities and the content they share. This is used to provide employees with anticipated business insights and to help them complete their work more quickly. Organizations can also use video analytics to gain insights into a variety of business applications, such as consumer behaviour, employee retention, office utilisation, and performance optimization, by linking visual analytics to production checkpoints.
Cloud Segment to Dominate the Market
Cloud-based deployment provides a pay-per-use service model, allowing organisations to pay cloud service vendors only when services are used, as opposed to the upfront capital expenditure required for on-premises deployment. Because extra costs are borne by service providers, cloud-deployed platforms reduce the costs associated with upgrading and updating solutions. As a result, the use of cloud-based enterprise collaboration solutions allows organisations to adapt to a changing business environment.
Mediocre Network Connectivity and Infrastructure may Derail the Market
The world's developing and underdeveloped countries continue to rely on legacy telecom infrastructure that is incapable of providing low latency and high-capacity connectivity. Due to a lack of high-speed internet, implementing enterprise collaboration tools such as video conferencing and cloud services is extremely difficult. As a result, organisations in these countries rely more on audio-based communication to avoid the frustrations of poor video quality and intermittent disconnections.
Poor Internet Speed Affects the Quality of Service
A slow internet connection can make collaboration difficult. Because collaboration tools provide all of their services online, a slow connection will result in delayed message delivery, slower file transfers, low-quality audio and video conferencing, and interrupted connections to remote workspaces. A bad connection can cause disruptions or low-quality video, which can lead to misunderstandings and a waste of time and effort.
The APAC Enterprise Collaboration Market is expected to grow rapidly in the coming years. Government initiatives to promote digital infrastructure are to blame for driving the region's adoption of enterprise collaboration solutions. The region also has the most students, and as technology advances, there is a growing demand for eLearning and distance education. This propels the enterprise collaboration market to meet a wide range of educational needs in APAC countries such as Australia and New Zealand, India, Japan, China, and Singapore.
As per Fairfield Market Research preliminary evaluation, the market is expected to grow at a CAGR of 14-18%. The report profiles major vendors in the global Enterprise Collaboration Market. The major vendors in the Enterprise Collaboration Market include IBM, Microsoft, Cisco, Adobe, Google, Citrix, Slack, Facebook, Salesforce, and Atlassian. Recent developments in the market are included in the study: -
September 2019, Microsoft partnered with Telstra to create “Secure Data Hub” which would promote enterprise collaboration through secure data sharing. This solution is focused towards government and commercial sector.
Key Elements Included In The Study: Global Enterprise Collaboration Market
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