PUBLISHER: The Business Research Company | PRODUCT CODE: 1695150
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695150
Team collaboration software encompasses digital platforms or tools tailored to facilitate communication, coordination, and cooperation among team members engaged in shared projects or tasks. These solutions offer a wide array of features and functionalities aimed at enhancing cooperation, productivity, and collaboration irrespective of geographical locations.
The main types of team collaboration software include communication and coordination software, as well as conferencing software. Communication and coordination software are digital tools designed to facilitate seamless interaction and organization among team members working on shared projects or tasks. They offer various deployment types, including on-premise and cloud solutions, and find applications across diverse industries such as banking, financial services, and insurance (BFSI), manufacturing, healthcare, information technology (IT) and telecommunications (telecom), retail and e-commerce, government and defense, media and entertainment, education, and others.
The team collaboration software market research report is one of a series of new reports from The Business Research Company that provides team collaboration software market statistics, including team collaboration software industry global market size, regional shares, competitors with a team collaboration software market share, detailed team collaboration software market segments, market trends and opportunities, and any further data you may need to thrive in the team collaboration software industry. This team collaboration software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The team collaboration software market size has grown rapidly in recent years. It will grow from $26.02 billion in 2024 to $29.72 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to the rise of remote work, globalization, increased need for real-time communication, demand for improved productivity, emergence of cloud computing.
The team collaboration software market size is expected to see rapid growth in the next few years. It will grow to $50.15 billion in 2029 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to remote work trends, increasing adoption of cloud technology, focus on productivity and efficiency, growing importance of communication tools, globalization of businesses. Major trends in the forecast period include integration with productivity tools, AI-driven automation, remote work facilitation, enhanced security features, focus on user experience.
The escalating prevalence of remote work is poised to serve as a key driver propelling the growth of the team collaboration software market in the foreseeable future. Remote work, characterized by the execution of job tasks and responsibilities from locations outside traditional office settings, has gained traction due to a confluence of factors including technological advancements, evolving attitudes towards work-life balance, and the growing desire for flexibility among employees. Team collaboration software assumes paramount significance in remote work scenarios, facilitating seamless communication, file sharing, document collaboration, and project management irrespective of geographical barriers. Illustratively, data from the Bureau of Labor Statistics in April 2023 indicates a notable uptick in remote working prevalence, with the percentage of remote working employees reaching 42.2% in 2022, up from 37.4% in the preceding year. This underscores the pivotal role of remote work in driving the expansion of the team collaboration software market.
Major companies in the team collaboration software market are focusing on developing intelligent features, such as AI-powered diagram generation, to improve team engagement and productivity. AI-powered diagram generation refers to the use of artificial intelligence to automatically create visual diagrams and flowcharts, which streamlines the collaborative process and enhances communication by turning ideas into visual representations. For example, in June 2024, Lucid Software, a US-based software company, introduced intelligent features designed to enhance team collaboration and workflow efficiency through advanced technology. These new capabilities improve cross-collaboration, helping teams align quickly and make confident decisions with integrated workflows. Team hubs centralize access to projects, workflows, documents, and updates, enabling teams to easily add contributors and ensure they have the necessary information. New members joining mid-project automatically receive all relevant updates to help them catch up. These features include AI-powered functions, such as auto-generating diagrams in Lucidchart and seamlessly integrating with tools like Microsoft Copilot, which allows users to quickly access and summarize documents.
In August 2022, HP Inc., a US-based technology company, acquired Poly Inc. for an undisclosed amount. The acquisition aims to enhance HP's hybrid work solutions portfolio and drive long-term sustainable growth by advancing collaboration technologies. Poly Inc. is a US-based technology company specializing in workplace collaboration solutions.
Major companies operating in the team collaboration software market are Google LLC, Microsoft Corporation, AT&T Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Adobe Inc., Atos Unify solutions, Zoom Video Communications Inc., OpenText Corporation, Citrix Systems Inc., Atlassian Corporation, Avaya LLC, Monday.com Ltd., Asana Inc., Basecamp, SMART Technologies, Slack Technologies LLC, Wrike Inc., Airtable, Notion, Mattermost, Trello, Flock, Rocket.Chat, Chanty
North America was the largest region in the team collaboration software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the team collaboration software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the team collaboration software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The team collaboration software market consists of revenues earned by entities by providing services such as real-time messaging, file sharing, video conferencing, task management, and integrations. The market value includes the value of related goods sold by the service provider or included within the service offering. The team collaboration software market also includes sales of messaging and chat apps, collaboration hubs, and centralized platforms. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Team Collaboration Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on team collaboration software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for team collaboration software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The team collaboration software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.