Artificial Intelligence
Worldwide Team Collaboration Tools Industry to 2026 – Continuous Innovation in Team Collaborative Tool Offerings are Driving Growth
Dublin, March 16, 2021 (GLOBE NEWSWIRE) — The “Team Collaboration Tools Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The team collaboration tools market is expected to register a CAGR of 18%, over the forecast period (2021-2026). Team collaboration tools make working together on professional projects more comfortable and faster. It reduces queue in feedback and approval processes and allows for real-time communication. The areas that team collaboration tackles are for efficient means of communication, project and task management, and file sharing.
The development of Artificial Intelligence and its integration with team collaboration tools are expected to create higher demand, in achieving automation and improved communication within an organization. Most organizations expect increased productivity and focus on high-value tasks, as significant team benefits of Artificial Intelligence.
AI, along with team collaboration tools, can filter and highlight the most relevant messages according to work pattern and behavior, understand email content, propose intelligent response, and type emails based on voice commands, correct mistakes, and include related files, which can boost the organization’s efficiency.
The latest technological advancements in team collaboration tools include analyzation of information and data from different sources and connecting them, schedule meetings with relevant people at a time convenient for everyone, and also can be used for reminding workers of a meeting and join automatically via face recognition when the meeting starts. The outbreak of COVID-19 is expected to increase the usage of team collaboration tools. Due to lockdown, many organizations are promoting the usage of team collaboration tools as employees tend to work from home during the crisis. Microsoft Teams, a team collaboration software from Microsoft, witnessed a 40% increase in demand due to the adjustment of the businesses to remote work. Microsoft launched new Teams features, which are designed to improve remote meetings, as they become the default work mode rather than the pre-pandemic exception. In the week from March 11 to March 18, 2020, Microsoft Teams witnessed 12 million new users using its service on a daily basis.
Key Market Trends
The Outbreak of COVID-19 is Expected to Increase the Usage of Team Collaboration Tools
North America is Expected to Hold a Significant Share
Competitive Landscape
The team collaboration tools market is moderately consolidated. The top players in the market occupy the majority of the market share. Additionally, existing players already have their customer base who generally do not switch to new players, and new players do face immense competition from the already established players in the market studied. Some of the key players include Microsoft Corporation, Slack Technologies Inc., Asana Inc., and Smartsheet Inc.
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Key Topics Covered:
1 INTRODUCTION 2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS 5 MARKET SEGMENTATION 6 COMPETITIVE LANDSCAPE 7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/qf4mqw
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Need for Tools to Make Work Seamless and Agile
4.2.2 Continuous Innovation in Team Collaborative Tool Offerings
4.3 Market Restraints
4.3.1 Compliance and Governance Issues
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Assessment of COVID-19 on the Industry
5.1 Type of Deployment
5.1.1 Cloud
5.1.2 On-premise
5.2 Organization Size
5.2.1 Small and Medium Enterprises
5.2.2 Large Enterprises
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Rest of Asia Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of Latin America
5.3.5 Middle East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 Africa
5.3.5.4 Rest of Middle East and Africa
6.1 Company Profiles
6.1.1 Microsoft Corporation
6.1.2 Slack Technologies Inc.
6.1.3 Atlassian Corporation PLC
6.1.4 Smartsheet Inc.
6.1.5 Asana Inc.
6.1.6 Huddle (Ninian Solutions Limited)
6.1.7 TigerConnect Inc.
6.1.8 Wrike Inc.
6.1.9 Symphony Communication Services LLC
6.1.10 Cybozu Inc.CONTACT: ResearchAndMarkets.com
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