There is an increase in the penetration of the advanced technologies, along with the increasing demand for enhanced communication in various organizations. This is encouraging organizations to adopt enterprise social networks and online community platforms. Due to this, players in this market are continuously upgrading their product portfolios in order to meet the demands of the competitive enterprise social networks and online communities market.
The APAC and Japan regions are developing with significant CAGRs, which could be a great opportunity for players associated with enterprise social networks and online community platforms to tap new business opportunities in emerging markets in the respective regions. These are some of the crucial findings made by Persistence Market Research in a new research report titled ‘Enterprise Social Networks and Online Communities Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026’.
In this report, there is a detailed section on the market dynamics operating in the global enterprise social networks and online communities market which deals with the factors that impact the growth of this market. As per the numbers given in this report, the global enterprise social networks and online communities market is estimated to be valued at US$ 3,278.6 Mn in 2018 end and is forecasted to reach a valuation of US$ 11,460.7 Mn in 2026 end, reflecting a CAGR of 16.9% during the period of assessment 2018-2026.
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Global Enterprise Social Networks and Online Communities Market: Factors Influencing Revenue Growth
There are various advantages of implementing an enterprise social network platform and such kind of platforms not only benefit the employees, but also help in achieving the goals and objectives of the organization. Research has demonstrated high ROI (return on investment) for these platforms. By implementing an enterprise social network, the brand of the organization gets more visibility and enjoys increased customer loyalty.
This in turn, contributes to the growth of the organization. Such kind of platforms are also advantageous in the healthcare domain, where they provide various benefits and services to doctors and patients. With the help of enterprise social networks, organizations are able to make a strong brand identity in the market, and also helps in improving the workplace culture and environment. The growing trend of digitalization and rapid evolution of social networks in the realm of healthcare sector is pushing organizations to adopt enterprise social network platforms, and this is expected to fuel the demand in the enterprise social networks and online communities market worldwide.
Global Enterprise Social Networks and Online Communities Market: Segmentation and Forecast
The global enterprise social networks and online communities market is segmented on the basis of enterprise type, industry type and region.
- The large enterprise segment will hold a significant market share of 69.2% at the end of the year 2018 and is expected to lose market share in 2026 as compared to 2018.
- The IT and telecom segment was valued at US$ 593.3 Mn in 2017 and is forecasted to witness a CAGR of 19.5% during the assessment period 2018-2026.
- The China enterprise social networks and online communities market was valued at US$ 130.3 Mn in 2017.
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Market Players
- Google, Inc.
- Lithium Technologies Inc.
- TIBCO Software Inc.
- SAP SE
- Salesforce
- VMware
- Cisco Systems
- IBM Corporation
- Vanilla Forums
- Zimbra
- Axero Solutions
- Igloo Software
- Zoho Corporation
- Aurea Software Inc.