New York, June 07, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Employee Communication Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Deployment Type (On-Premise and Cloud), Enterprise Size (SMEs and Large Enterprises), and Industry (BFSI, Manufacturing, Retail, Healthcare, IT and Telecom, and Other Industries)” The global employee communication software market growth is driven by increasing need for enhanced communication with deskless workforce coupled with the growing trend of digital workplace transformation through adoption of advanced solutions.
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| Market Size Value in | US$ 816.41 Million in 2021 |
| Market Size Value by | US$ 1.78 Billion by 2027 |
| Growth rate | CAGR of 11.8% from 2021-2027 |
| Forecast Period | 2021-2027 |
| Base Year | 2021 |
| No. of Pages | 168 |
| No. Tables | 83 |
| No. of Charts & Figures | 79 |
| Historical data available | Yes |
| Segments covered | Deployment Type , Enterprise Size , and Industry |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Employee communication platforms are one-stop communication solutions for enterprises that help them boost internal communications, engage employees, and improve overall business communication. These platforms can also be personalized as per customer requirements to deliver targeted communication across business units, branches, and departments and enable a digital workplace by including both office workforce and mobile/deskless workforce. Presently, the employee communication software market is primarily dominated by large enterprises in terms of revenue share due to their large-scale operations and high adoption of such solutions in developed regions such as Europe and North America. In addition, large enterprises are the ones driving the trend of digital transformation in workplaces and on-field to improve overall operational efficiency and enhance employee engagement. Moreover, the rising penetration of digital solutions, cloud computing, and mobile-first communication platforms among small & medium sized enterprises (SMEs) is anticipated to drive the growth of employee communication software market during the forecast period. SMEs are in the growth stage of adopting advanced and effective employee communication solutions by replacing the traditional company intranet and other broad functionality software solutions. Moreover, with growing adoption and popularity of cloud-based employee communication software solutions, SMEs now have an option to invest in effective employee communication software due to cost benefits and easy integration offered by cloud-based solutions. Thus, the rising penetration of digital solutions among SMEs for improving business communication, enhancing operational productivity, and reducing costs are among the major factors that are projected to offer growth opportunities for market players during the forecast period. A few companies operating in the employee communication software market are Beekeeper AG; Nudge Corporation; Poppulo (E-Search DAC); Simpplr Inc.; Smarp Oy; SnapComms; Sociabble, Inc.; Staffbase; theEMPLOYEEapp; and Workvivo Limited.
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Internal organizational communication plays a crucial role in driving collaboration, productivity, and workforce engagement in an enterprise. In addition, the crucial need to maintain proper communication with deskless employees and growing share of remote workforce owing to ongoing COVID-19 pandemic are among the important factors boosting the adoption of employee communication software and services globally. Due to the pandemic, companies are shifting toward remote working culture owing to restrictions on on-premise business activities and movement restrictions implemented in various countries. The structure of today’s enterprises is becoming more dynamic and complex, especially in industries such as retail and healthcare where a large section of workforce is deskless/mobile in nature. The COVID-19 outbreak is further driving the trend of remote working in industries such as BFSI, manufacturing, and IT and telecom. Hence, due to increasing share of deskless workforce across industries, the demand for multi-platform communication tools (desktop, mobile, tablets etc.) is expected to rise at an impressive rate in the coming years.
The employee communication software market is segmented into deployment type, enterprise size, industry, and geography. Based on deployment type, the employee communication software market is divided into cloud and on-premise. Cloud segment is projected to hold a larger share during the forecast period. On the basis of enterprise size, the market is segmented into SMEs and large enterprises. The large enterprises segment held a larger revenue share in 2019, whereas SMEs segment is projected to be a faster growing sector in terms of growth rate. On basis of industry, the market is segmented into BFSI, manufacturing, retail, healthcare, IT & telecom, and others. In 2019, IT and telecom industry led the employee communication software market globally. Geographically, the market is segmented into five major regions, namely North America, Europe, APAC, MEA, and SAM. In 2019, North America held the largest share followed by Europe and APAC. APAC is projected to be the fastest-growing region from 2020 to 2027.
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Employee Communication Software Market in APAC to Grow at Highest CAGR During 2020–2027:
In terms of growth, APAC is anticipated to be the fastest-growing region with an impressive CAGR of 14.3% during 2020–2027. APAC comprises several developing economies such as China, India, Australia, and other southeast countries, as well as developed economies such as Japan. Favorable government support to promote manufacturing and service-based sectors by integrating advanced technologies in emerging economies such as China and India will further accelerate the penetration of employee communication software. In addition, more than 30% of Japanese companies have a policy of flexible working that helps in promoting the use of employee communication software. Also, the regional logistics sector is driven by the increase in trade and e-commerce. This aspect is anticipated to promote the penetration of employee communication software, as most of the logistics staff works remotely. Moreover, growing focus of corporates on increasing efficiency, workforce management, and productivity is expected to boost the employee communication software market. Asian organizations spend an average of 15% of their total revenues on digital initiatives, which allows them to spend on modern technologies. Moreover, organizations backed by regional government bodies are fueling digital transformation and connected workplace. China, Singapore, Japan, South Korea, and India are making huge efforts to develop their organizations by transforming it. Manufacturing and retail players are the prominent industries in Asia that are growing at an exponential rate. In addition to digital transformation and connected workforce, a wide footprint of companies offering employee communication platforms also contributes the market growth in APAC.
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