Dublin, July 01, 2020 (GLOBE NEWSWIRE) -- The "Global Team Collaboration Software Market By Type, By Deployment Type, By End-user, By Region, Industry Analysis and Forecast, 2020-2026" report has been added to ResearchAndMarkets.com's offering.
The Global Team Collaboration Software Market size is expected to reach $17.3 billion by 2026, rising at a market growth of 12.9% CAGR during the forecast period.
The advent of digitalization is the primary factor that promotes the growth of the Team Collaboration Software Market. In addition, the increasing prevalence of smartphone users, coupled with advances in the latest technologies, is expected to further help increase the overall size of the Team Collaboration Software Market in the forecast period. In addition, the rising trend of Bring Your Own Device (BYOD) and Work-from-home culture is also expected to help attract more revenue from the Team Collaboration Software Market in the years to come.
The global pandemic, COVID-19 (coronavirus), provides substantial market growth. Emerging pressure for government institutions to practice social distancing due to the highly infectious nature of the disease has prompted businesses to adopt work-from-home (WFH) business practices. The introduction of these approaches for good business activities and the resulting need to work with different team leaders and other cross-functional teams is expected to provide a boost for market development.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix, Microsoft Corporation, Cisco Systems, Inc., Oracle Corporation, AT&T, Inc., and IBM Corporation are the forerunners in the Team Collaboration Software Market. Companies such as OpenText Corporation, Avaya Holdings Corporation, and Adobe, Inc., Blackboard, Inc., and Citrix Systems, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AT&T, Inc., Adobe, Inc., Citrix Systems, Inc., IBM Corporation, Microsoft Corporation, OpenText Corporation, Oracle Corporation, Avaya Holdings Corporation, Cisco Systems, Inc., and Blackboard, Inc. (Providence Equity Partners).
Strategies Deployed in 2020
Partnerships, Collaborations, and Agreements
May-2020: AT&T collaborated with Cisco following which the companies launched Webex Calling with AT&T aimed at expanding access to cloud-based phone capabilities. Webex Calling can help more businesses in transforming their voice communications to better adapt to evolving needs using AT&T's highly secure and reliable network. Built on the Webex Calling platform, AT&T provides more ways to connect by including access to Webex Teams for business calls, meetings, and team collaboration.
Apr-2020: Adobe collaborated with Qumulo, the leading provider of enterprise-proven hybrid cloud file storage and data services. The collaboration aims to help media and entertainment organizations leverage collaborative workflows in the cloud. Adobe Premiere Pro and After Effects, together with Qumulo's file services, allow collaborative teams to create and edit video footage using cloud storage with the same levels of performance, access, and functionality as workstations in the studio.
Apr-2020: Avaya announced collaboration with ConvergeOne, an IT service provider. Through this collaboration, the latter company aimed to expand its midmarket portfolio by integrating Cloud Office ConvergeOne Cloud Experience (C1CX) with Avaya Cloud Office. The customers can simplify the management of their communication system and get the full suite of collaboration features in a single application.
Apr-2020: Blackboard announced its partnership with OneConnect, an innovative provider of turnkey technology solutions and services to African organizations. Under the partnership, the latter company is expected to enable the institutions to use Blackboard's technologies to empower their students to achieve their learning outcomes through the use of modern technology and to be capable of harnessing the potential of the Fourth Industrial Revolution.
Mar-2020: Adobe announced its collaboration with Google following which G Suite is expected to be integrated with Adobe. The integration is expected to bring Creative Cloud workflows into Gmail, now available in the G Suite Marketplace. Bringing Creative Cloud into G Suite aimed to allow a mutual user base to simplify routine tasks while staying productive in their inbox.
Mar-2020: Microsoft announced its partnership with Intrado Corporation, a global leader in technology-enabled services. Following the partnership, the latter company introduced the powerful hosted voice solution, MaxxConnect for Microsoft Teams. MaxxConnect for Microsoft Teams provides the efficiency and economic benefits of network convergence, eliminating the need for local PSTN gateways and costly PRIs.
Feb-2020: Avaya Holdings partnered with RingCentral, a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. Following the partnership, the companies launched Avaya Cloud Office by RingCentral. Avaya Cloud Office integrates RingCentral's industry-leading unified communications as a service (UCaaS) platform with Avaya phones, services, and migration capabilities for developing a highly differentiated solution backed by communications experts that delivers cloud services with extensive communication and collaboration capabilities for businesses of all sizes.
Product Launches and Product Expansions
Apr-2020: Adobe announced new features in its Premiere software for redefining Adobe video editing. Premiere now includes a customizable Productions panel, which enables people to define how they will organize a project and bring in new content. The Production panel is the command center providing access and visibility into different workflows.
Apr-2020: OpenText unveiled a comprehensive cloud update. The update provides a strengthened information infrastructure to empower organizations to quickly respond and adapt to a business climate defined by new ways to work. OpenText Cloud Editions (CE), OpenText OT2 Applications, and the new Business Network are designed for helping the customers in managing and transforming to new priorities, OpenText OT2 20.2 features new purpose-built Core SaaS applications that extend the value of existing OpenText on or off cloud deployments.
Mar-2020: Blackboard unveiled the Blackboard Collaborate Self-Service Portal. The portal enables higher education institutions, school districts, and organizations to implement the virtual classroom solution, specifically designed for educators and students, within hours.
Feb-2020: Avaya Holdings added new capabilities to Avaya Spaces. The capabilities provide a multi-experience approach by centralizing voice, video, messaging, chat, and task management in one place for improving productivity and increasing employee satisfaction. Avaya Spaces is a cost-effective cloud meeting and team collaboration app, which integrates voice, video, tasks, sharing, and more into one app that can be accessed from any endpoint device.
Market Segmentation
By Type
- Communication & coordination software
- Conferencing software
By Deployment Type
- On-premise
- Cloud
By End-user
- IT & Telecom
- Retail
- Logistics & Transportation
- Manufacturing
- Healthcare & Life Sciences
- BFSI
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- LAMEA
Companies Profiled
- AT&T, Inc.
- Adobe, Inc.
- Citrix Systems, Inc.
- IBM Corporation
- Microsoft Corporation
- OpenText Corporation
- Oracle Corporation
- Avaya Holdings Corporation
- Cisco Systems, Inc.
- Blackboard, Inc. (Providence Equity Partners)
For more information about this report visit https://www.researchandmarkets.com/r/cg8u0v
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