Global Team Collaboration Software Market to Reach $23.8 Billion by 2030
The global market for Team Collaboration Software estimated at US$11.5 Billion in the year 2023, is expected to reach US$23.8 Billion by 2030, growing at a CAGR of 10.9% over the period 2023-2030. Communication & Coordination Software, one of the segments analyzed in the report, is expected to record 9.7% CAGR and reach US$12.6 Billion by the end of the analysis period. Growth in the Conferencing Software segment is estimated at 12.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 14.6% CAGR
The Team Collaboration Software market in the U.S. is estimated at US$3.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.4 Billion by the year 2030 trailing a CAGR of 14.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.2% and 8.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR.
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