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Collaboration Software Market Size

Report ID: GMI711
Published Date: Dec 2024
Report Format: PDF

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Collaboration Software Market Size

The global collaboration software market size was valued at USD 18.2 billion in 2024 and is estimated to register a CAGR of 7.7% between 2025 and 2034, attributed to increasing need for businesses for real-time communication and instant feedback. The demand for faster decision-making, customer service, and rapid problem-solving requires teams to be able to communicate and collaborate on tasks in real-time. Tools such as live chat, video conferencing, and co-authoring documents helps teams to collaborate in real-time, improving efficiency and speeding up projects.

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The integration of AI and automation into collaboration software is another major growth driver. AI enhances collaboration tools by offering intelligent suggestions, automating simple routine tasks, and organizing meetings and content. Automation tools, such as workflow automation and task assignments, make business processes faster and more accurate, enhancing user experience and encouraging more businesses to use the software.

Collaboration Software Market Report Attributes
Report Attribute	Details
Base Year:	2024
Collaboration Software Market Size in 2024:	USD 18.2 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	7.7%
2034 Value Projection:	USD 39.7 Billion
Historical Data for:	2021 - 2024
No. of Pages:	175
Tables, Charts & Figures:	200
Segments covered:	Component, Deployment Model, Organization Size, Application
Growth Drivers:	Growing digital transformation initiatives by enterprises Proliferation of mobile devices Increasing demand for real-time collaboration Rising shift of businesses towards hybrid working model
Pitfalls & Challenges:	Security and privacy concerns Integration challenges

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Companies operating in the collaboration software market are launching innovative AI-powered collaboration software to enhance productivity for businesses and education organizations. For instance, in August 2024, ViewSonic Corp., launched TeamOne, an AI-powered collaboration software. The tool is part of the company's 'Future Meeting Room' and 'Future Classroom' solutions, enhancing team ideation, planning, and execution. TeamOne integrates smoothly into business and higher education settings, supporting the evolving digital collaboration space with AI features.

It offers a unified, browser-based workspace that addresses modern teamwork challenges such as geographical distances, different systems, and lack of real-time interaction. Key features include real-time whiteboarding with flexible templates, an infinite canvas, and various interactive tools to improve workflow. Additionally, it provides digital sticky notes for capturing brainstorming ideas and meeting points.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of collaboration software reached USD 18.2 billion in 2024 and is set to grow at a 7.7% CAGR from 2025 to 2034, driven by the increasing need for real-time communication and instant feedback in businesses.

The IT & telecom sector held the highest market share of 29% in 2024, led by its reliance on innovation, rapid product cycles, and agile development methodologies requiring continuous feedback and progress tracking.

The North America market accounted for 40% of the global revenue share in 2024, fueled by high adoption rates of cloud-based solutions, robust IT infrastructure, and a strong focus on digital transformation.

The key players in the industry include Atlassian, Cisco, Envoy, Google, GoTo, Microsoft, Ring Central, Salesforce, TeamViewer, and Zoom.