Strategic Intelligence: Collaboration Tools

Strategic Intelligence: Collaboration Tools

Summary

Collaboration tools are software tools that aim to boost productivity by helping teams work together more efficiently. They incorporate services like instant messaging, file sharing, and video conferencing. According to GlobalData forecasts, the communication and collaboration (C&C) market will be worth $561.1 billion in 2028, up from $402.6 billion in 2023 at a compound annual growth rate (CAGR) of 6.9% between 2023 and 2028. The growing number of employees working from remote locations and the need to establish better communication between them and office-based staff drives enterprise adoption of C&C tools.

Key Highlights

• Artificial intelligence (AI) capabilities will differentiate those companies that compete in the collaboration tools space. The advent of generative AI and large language models (LLMs) has created new opportunities for users to communicate with AI systems used in workflow and project management. Leading players in collaboration tools, including Microsoft, Workday, and Salesforce, all announced in September 2024 that AI agents would be a core part of their AI strategy.
• In the short term, whether AI agents are worth the upfront cost to boost productivity and support collaboration is uncertain. However, companies wishing to provide effective collaboration tools in the long term must adopt advanced AI capabilities to remain competitive.

Scope

• This report provides an overview of the collaboration tools theme.
• It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
• It includes comprehensive industry analysis, including forecasts for the communications and collaboration market to 2028.
• It contains details of M&A deals driven by the collaboration tools theme, and a timeline highlighting milestones in the development of collaboration tools.
• The detailed value chain comprises three main segments: hardware, software, and services.

Reasons to Buy

• The future of work will shape both factories and offices, encouraging greater collaboration between humans and technology and empowering workers with new digital skills. Communications and collaboration tools will play a vital role in the future of work.
• This report provides an invaluable guide to this important theme, including details of the leading players and up-to-date market forecasts.