Collaborative applications can be defined as applications that can be accessed by people to get involved in a shared assignment and undertake a common goal. Adoption of collaborative applications and support services is rising, as companies are shifting toward cloud computing. Collaborative applications help in the efficient management of workforce. Rise in number of mobile devices and browsers/platforms has led to large scale adoption of collaborative applications in organizations. Vendors are offering collaborative applications to industry-leading technology platforms such as SAP, Oracle, IBM, and SaaS/custom development platforms. This helps increase organizational profitability through effective strategizing and planning. Additionally, it provides an organization with competitive edge.
Growth of mobile applications is a recent trend of the collaborative applications market. Data generated and recorded by organizations can be analyzed to track and scrutinize performance at all levels of the enterprise. Through collaborative applications, businesses can make quick decisions for strategic advantages. This is an add-on feature of such software. Additionally, ease in accessibility offered through cloud-based systems is fuelling the collaborative applications market. However, development of such apps requires adequate training. Furthermore, rise in competition among information and technology companies makes the collaborative applications market highly competitive. Such challenges are likely to hamper the collaborative applications market. Nevertheless, customization in collaborative applications is expected to offer growth opportunities to the market during the forecast period.
The global collaborative applications market can be segmented based on deployment, organization size, end-use industry, and geography. Based on deployment, the market can be bifurcated into on-premise and cloud. The cloud segment can be sub-segmented into on-demand cloud and hosted cloud. The cloud segment is expected to gain traction in the near future, due to numerous benefits offered by cloud-deployed collaborative applications such as ease of use, ease of access, reduced physical clutter, cost savings, and reliability. In terms of organization size, the global collaborative applications market can be categorized into small & medium enterprise (SME) and large enterprise. Based on end-use industry, the global collaborative applications market can be segmented into IT and telecom, BFSI, retail, manufacturing, healthcare, and others.
In terms or region, the global collaborative applications market can be segregated into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to hold prominent share of the global collaborative applications market. This dominance is primarily due to the presence of many global players in the U.S. and Canada. Europe is also likely to constitute key share of the market in the near future. This can be ascribed to the increase in focus on innovations obtained through research and development and IT technologies in developed countries in the region. Asia Pacific region is expected to emerge as a rapidly growing region of the market during the forecast period. Increase in adoption of cloud platforms by businesses and rise in adherence toward regulatory compliances are factors driving the collaborative applications market in Asia Pacific.
Companies are strengthening their position through merger & acquisition activities. They are constantly investing in research and development (R&D) activities to come up with solutions to cater to the customers’ changing requirements. Various software development providers and vendors are focusing on enrichment of collaborative applications by integrating value added processing such as human resource compliance management tools, artificial intelligence, and process design control. Furthermore, increase in globalization of the workforce is projected to propel the large scale implementation of workforce analytics by small and large enterprises.
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Prominent global companies that offer collaborative application solutions include 10000ft, Asana, Base camp, Binfire, Bitrix, Bluescape, Brightpod, CEITON, Central desktop, Citadel/UX, Collaborate Cloud, Confluence, Desk away, eXo Platform, Freed camp, High Q, hurdle.net, Hyper office, IBM Connections, Intellinote, Jive, Liquid Planner, Mavenlink, Only Office, Open Text, Pivotal Labs, Podio, Team Foundation server, Team Wox, Target Process, Tom’s Planner, Trello, Yammer, Wrike, Xait, Zarafa, and Zoho.
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