New York, USA, Nov. 16, 2020 (GLOBE NEWSWIRE) -- According to newly published report by Research Dive, the global employee communication software market is projected to generate $1,197.2 million and grow at a CAGR of 10.8% during the forecast period from 2019 to 2026. The North America market for employee communication software is estimated to hold a dominant position in the global market throughout the forecast period, majorly owing to technological advancements in communication software in the region.
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Market Dynamics
The increasing adoption of communication software for web conferences amongst organizations is the major factor likely to propel the growth of the global employee communication software market during the forecast period. However, the high costs associated with the installation of communication software is predicted to hinder the market growth in the coming years. On the other hand, the rising adoption of bring your own device (BYOD) and internet of things (IoT) are the key growth opportunities for the global market by 2026.
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Key Segment Findings of the Market
The report segments the global employee communication software market into Development Type, End-Use, Industry, and Region.
• By development type, the cloud type segment is estimated to generate $594.1 million and observe lucrative growth during the forecast period. The cloud type enables workers/management to access the employee communication software through their mobiles, which offers them compatibility & flexibility of the software.
• By end-use, the small and medium enterprises (SMEs) segment is expected to surpass $512.4 million and witness a lucrative growth by 2026. This growth is majorly attributed to rise in number of SMEs across the globe and the growing importance of communication software understanding among those SMEs.
• By industry, the healthcare segment is predicted to witness a significant growth and reach up to $95.8 million during the projected timeframe. This growth is mainly due to the growing adoption of employee communication software by clinics & hospitals across the globe.
• Geographically, the Asia Pacific employee communication software market is projected to grow at a CAGR of 12.2% from 2019 to 2026, owing to the growth in digitalization of organizations in the region.
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Major Market Players
• Nudge Rewards Inc.
• GuideSpark
• Beekeeper AG
• Sociabble, Inc.
• SocialChorus, Inc.
• Poppulo
• OurPeople
• Smarp
• theEMPLOYEEapp
Further, the report outlines various aspects of these key players such as product portfolio, recent strategic moves & developments, SWOT analysis, and financial performance.
These players are adopting several strategies such as technological advancements, mergers & acquisitions, and novel product launches to obtain a strong position in the global market. For instance, in October 2019, SocialChorus announced the launch of new software “Analyze,” which is especially designed to deliver answers to the most elusive and stimulating questions about the organization’s health. Analyze is an advanced measurement tool for workforce communication.
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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