Communication Software Market By Deployment Model (On-Premises, Cloud), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Industry Vertical (BFSI, Manufacturing, Retail, Healthcare, IT and Telecom, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031
The global communication software market is envisioned to garner $2550.5 million by 2031, growing from $1001.9 million in 2021 at a CAGR of 10.3% from 2022 to 2031.
Communication software refers to computer programs or applications that enable users to communicate with one another electronically. This includes messaging, voice and video calling, email, file sharing, and other forms of communication. Examples of communication software include instant messaging applications such as WhatsApp, Slack, and Telegram; video conferencing software such as Zoom and Skype; email clients such as Microsoft Outlook and Gmail; and collaboration tools such as Google Drive and Dropbox.
The market for communication software is mainly influenced by the rising demand for video conferencing and virtual meeting solutions. Businesses have to swiftly adjust to the new reality of virtual collaboration as a result of the COVID-19 pandemic, which has expedited the adoption of remote work. For organizations to sustain efficiency and communication among distant staff, communication software has become a crucial tool. Teams can interact in real-time, share ideas, and discuss projects without having to hold physical meetings due to video conferencing and virtual meeting technologies. In addition to video conferencing, communication software also includes email, instant messaging, project management systems, and other technologies that support successful communication and collaboration amongst remote teams.
Communication software typically relies on high-speed internet connectivity to function effectively, and if this is not available, the software may not be able to perform as intended or may not be accessible at all. This can be particularly challenging in regions with limited internet infrastructure or where access to high-speed internet is limited due to factors such as geography, economic conditions, or political instability. In such regions, individuals and businesses may not be able to fully leverage the benefits of communication software, such as improved collaboration, remote work capabilities, and reduced communication costs.
The market for communication software has a sizable opportunity due to the expanding usage of video conferencing. In recent years, video conferencing technology has evolved and become more widely available, leading to a rise in its use across a variety of sectors and corporate sizes. With video conferencing, remote teams can collaborate and communicate more effectively, which boosts productivity and lowers travel expenses. The need for video conferencing software is set to increase as companies look for more effective and affordable methods to cooperate and communicate.
The COVID-19 pandemic has had significant impacts on the market for communication software. The need for communication software has rapidly expanded with the acceptance of remote work and virtual collaboration. Due to the need for businesses of all sizes to move their activities online, there is a rising need for software that facilitates communication and cooperation among distant workers. The market’s move towards cloud-based communication platforms has been one of COVID-19's most important effects on the market for communication software. A number of advantages, including simplicity of use, scalability, and accessibility from any location with an internet connection, are provided by cloud-based systems. So as to assist their remote workers, organizations are increasingly relying on cloud-based solutions. Video conferencing software has been one of the fastest-growing segments of the communication software market during the pandemic.
The key players profiled in this report include Nudge Rewards Inc., GuideSpark, Beekeeper AG, Sociabble, Inc.,SocialChorus. Inc., Poppulo, OurPeople, Smarp, theemployeeapp, and Workvivo Limited.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the communication software market analysis from 2021 to 2031 to identify the prevailing communication software market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the communication software market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global communication software market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Deployment ModelOn-Premises
Cloud
By Enterprise SizeLarge Enterprises
Small and Medium Enterprises
By Industry VerticalBFSI
Manufacturing
Retail
Healthcare
IT and Telecom
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
United Arab Emirates
South Africa
Rest of LAMEA
Key Market Players
Beekeeper AG
GuideSpark
Nudge Rewards Inc.
OurPeople
Poppulo
Smarp
Sociabble, Inc.
SocialChorus. Inc.
theemployeeapp
Workvivo Limited
Please Note: It will take 7-10 business days to complete the report upon order confirmation.