Global Enterprise Social Software Market- WishTree Insight

Global Enterprise Social Software Market by Enterprise Type (Small Enterprises, Medium Enterprises, and Large Enterprises), Industry Type (It & Telecom, BFSI, Retail & Consumer Goods, Healthcare, and Others), and Regions, (APAC, Europe, North America, and LAMEA) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Enterprise Social Software market size was valued at USD 6.6 billion in 2022 and is expected to surpass USD 26.7 billion by 2032, expanding at a CAGR of 14.1 % during the forecast period, 2022–2032. The market's growth is attributed to the increasing adoption of enterprise social network solutions is helping organizations in reforming communication across their workforce.

INTRODUCTION

Enterprise social software (ESS) is a type of software that enables employees to collaborate, communicate, and share information within an organization's network. It provides a platform for employees to interact with each other, share knowledge and ideas, and work together more effectively.

ESS typically includes a range of features, such as instant messaging, forums, wikis, blogs, and social networking tools. These features enable employees to communicate and collaborate in real time, regardless of their location, improving their productivity and efficiency.

ESS also helps to break down silos between different departments and teams, allowing for better communication and collaboration across the organization. It can also facilitate knowledge sharing, helping employees to access information and expertise that they may not have had access to otherwise.

Another key benefit of ESS is that it can help to improve employee engagement and morale. By providing a platform for employees to express their opinions, share their ideas, and feel more connected to the organization, ESS can help to create a more positive and collaborative work culture.

However, there are also potential drawbacks to ESS. If not properly managed, it can lead to information overload, distractions, and decreased productivity. Additionally, ESS can raise concerns about data privacy and security, particularly if employees are sharing sensitive information.

Overall, enterprise social software can be a powerful tool for improving communication, collaboration, and knowledge sharing within an organization, but it must be managed effectively to avoid potential pitfalls.

Market Trends, Drivers, Restraints, and Opportunities

• Rising adoption of internal enterprise social networks are driving the market growth.
• Rising awareness regarding enterprise social platforms is expected to spur market growth.
• The high usage of social media is expected to propel the global enterprise social software market.
• The development of an environment that is conducive to social networks is anticipated to augment the market growth.
• A lack of secure connections is hampering the global enterprise social software market

Scope of the Report

Market Segment Insights

The large enterprise segment is projected to boost at highest CAGR

Based on type, the enterprise social software market is divided into small enterprises, medium enterprises, and large enterprises. The large enterprise segment is expected to expand rapidly during the forecast period owing to financial resources and global presence.

The IT & Telecom segment is expected to expand at a rapid pace

Based on industry type, the enterprise social software market is divided into IT & telecom, BFSI, retail & consumer goods, healthcare, and others. The IT & Telecom segment is expected to expand rapidly during the forecast period.

Asia Pacific is leading the market

In terms of regions, the enterprise social software market is classified as APAC, Europe, North America, and LAMEA. The market of Asia Pacific is leading the global enterprise social software market and is expected to continue a key share of the market during the projected period owing to a large number of presences of key players. The North American market is anticipated to expand at a rapid pace during the forecast period owing to the use of enterprise social networks has increased as a result of manufacturers in the region.

Competitive Landscape

Key players competing in the Enterprise Social Software market are VMWare; IBM Corporation; Microsoft Corporation; Google, Inc; Cisco Systems; Zyncro Tech.

FAQs

How much is the market worth?

The Enterprise Social Software market size was valued at USD 6.6 billion in 2022 and is expected to surpass USD 26.7 billion by 2032.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 14.1%.

What are the key drivers of the market?

The market's growth is attributed to the increasing adoption of enterprise social network solutions is helping organizations in reforming communication across their workforce.

What segments are covered in the Enterprise Social Software report?

The segments covered in the report are type (small enterprises, medium enterprises, and large enterprises), and industry type (IT & telecom, BFSI, retail & consumer goods, healthcare, and others).

Mention which region is expected to hold the highest share of the Enterprise Social Software market.

The Asia Pacific region is expected to hold the highest share of the Enterprise Social Software market.

Mention the key players in the market.

VMWare; IBM Corporation; Microsoft Corporation; Google, Inc; Cisco Systems; Zyncro Tech.