New York, Nov. 09, 2021 (GLOBE NEWSWIRE) -- According to the statistics by the World Health Organization (WHO), coronavirus cases across the world as of November 8, 2021 reached 249,743,428. Moreover, according to the statistical survey done by the Pew Research Center, in the year 2020, 71% of the employed adults in the United States were working from home. The statistics also stated that before the coronavirus outbreak, 20% of the employed adults were working remotely.
Research Nester has recently added a report on “Global Visual Collaboration Platform Software Market” which has an in-depth analysis of the key players operating in the market, along with the key market dynamics, which include the growth drivers, latest market trends, and the opportunities that are associated with the growth of the market during the forecast period, i.e., 2020-2028.
Post the coronavirus outbreak globally, the trend of working from home has been accepted widely by organizations so as to keep their employees safe. To balance out the efficiency of the employees amidst the new normal working situation, and to maintain unhampered business operations, and further promote team collaboration, organizations are increasingly investing in different IT services and are adopting numerous tools, which is anticipated to drive the growth of the global visual collaboration platform software market during the forecast period. By the end of 2021, IT services spending globally is expected to reach close to USD 1115 Billion. Moreover, the spending on cloud infrastructure services by enterprises worldwide from 2010-2020 recorded close to USD 130 Billion. The market is also anticipated to grow on account of the rapid surge in the adoption of cloud computing services, and increasing internet penetration worldwide, and the growing advancements in computing technology. According to the statistics by the World Bank, the share of individuals out of the total population using the internet around the globe increased from 6.734% in the year 2000 to 56.727% in the year 2019. The global visual collaboration platform software market, garnered a revenue of USD 246.9 Million in 2014, and is further projected to reach USD 1667.6 Million by the end of 2028, by growing with a CAGR of 17.43% during the forecast period. Moreover, by the end of 2021, the market is anticipated to garner a revenue of USD 537.3 Million.
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The global visual collaboration platform software market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Out of the market in these regions, the market in North America is anticipated to hold the largest market share throughout the forecast period and further reach a revenue of USD 970.1 Million by the end of 2028, up from a revenue of USD 151.1 Million in 2014. The market in the region is segmented by country into the U.S. and Canada. Out of these countries, the market in the U.S. is anticipated to hold the largest market revenue throughout the forecast period. In the year 2021, the market in the country is anticipated to generate a revenue of USD 265.2 Million. The market in Canada, on the other hand, is expected to grow with the highest CAGR of 17.61% during the forecast period.
The visual collaboration platform software market in Europe is anticipated to hold the second-leading share over the forecast period and further reach market revenue of USD 315 Million by the end of 2028, up from a revenue of USD 42.7 Million in the year 2014, by growing at a CAGR of 18.15% during the forecast period. The Europe visual collaboration platform software market is segmented on the basis of country into Germany, the U.K., France, and the Rest of Europe. Amongst the countries, the market in the U.K. registered the highest revenue of USD 13.5 Million in the year 2014, whereas the market in Germany is anticipated to achieve the largest market revenue of USD 104.5 Million by the end of 2028. The market in Germany is also anticipated to grow with the highest CAGR of 19.01% during the forecast period.
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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global visual collaboration platform software market is segmented by type into cloud-based and web-based. Out of these, the cloud-based segment is anticipated to hold the highest market share and further register a market revenue of USD 407.7 Million by the end of 2022. In North America, the segment is expected to hold the largest market revenue of USD 225.1 Million by the end of 2021. Furthermore, in the U.S., the segment is projected to hold the largest market share throughout the forecast period and further attain revenue of USD 636 Million by the end of 2028. In Asia Pacific, the segment is projected to garner the largest market revenue of USD 140.1 Million by the end of 2028, up from a revenue of USD 15.3 Million in the year 2014.
The global visual collaboration platform software market is also segmented on the basis of application.
Global Visual Collaboration Platform Software Market, Segmentation by Application
- Large Enterprises
- Small & Medium Enterprises
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Some of the leading players in the global visual collaboration platform software market are Tactivos Inc DBA MURAL, RealtimeBoard, Inc. dba Miro, Stormboard, dba Bluescape, Conceptboard Cloud Service GmbH, Deskle, DEON GmbH & Co. KG, Ziteboard, iObeya, Lucid Software Inc., and others.
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