Enterprise Social Networks And Online Communities Market By Deployment Model (On-Premise, Cloud-Based), By Enterprise Size (Small Enterprises (Upto 250 Employees), Medium Enterprises (251 To 500 Employees), Large Enterprises (Above 500 Employees)), By Industry Vertical (Healthcare, IT & Telecom, Banks, Financial Services & Insurance (BFSI), Government, Retail & Hospitality, Others) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Growing Investment towards Enhanced Employee Collaboration to Bolster the Enterprise Social Networks & Online Communities Market

The overall enterprise social networks & online communities market expected to demonstrate double digit CAGR during the forecast period from 2018 to 2026, up from US$ 2,562.3 Mn in 2017. Enterprise social networks and online communities have significantly enhanced internal collaboration among the employees due to ease of information sharing and communication. The most prominent factor responsible for introduction of social networks in corporate sector is the continually growing user base of social media worldwide. As of 2017, a person on an average spends more than 2½ hours every day on social media websites globally. Subsequently, enterprise social media has emerged as a powerful tool capable of transforming internal collaboration in corporate sector.

Enterprise social networking technology allows employees to connect, collaborate, and exchange learnings, informally over an online platform. The concept of introducing social media in enterprises focuses on encouraging socializing and sharing among people rather than broadcasting information to the masses. The market has been gaining rapid traction due to the immense convenience in communication offered to employees. This may include sharing information as short messages, documents, updates, links and videos with other interested employees.

With consistently growing penetration of cloud-based services, these social networks and online communities are made available on software as a service (SaaS) basis. Similarly, market players also offer on-premise installation of these platforms for enterprises seeking higher data security. Nevertheless, dominance of conventional communication and collaboration tools such as Instant Messaging, Emails, SharePoint, Skype and others remain as major challenge for the market growth.

Market Synopsis

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Cloud-based Enterprise Social Network Platforms to Witness Higher Growth over the Forecast Period

The overall enterprise social networks and online communities market is primarily governed by large enterprises. Thus, majority of the companies prefer installing on-premise solution for ensuring higher level of data security. In 2017, the on-premise segment led the market accounting for nearly 2/3rd of the total market value generated worldwide. Nevertheless, cloud-based enterprise social networking segment is projected to register faster growth during the forecast period. Due to availability of deployment over more secure private cloud, the segment would experience higher growth in the following years.

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North America to Continue Leading the Market; Asia Pacific to Emerge as the Fastest Growing Region

North America led the global enterprise social networks and online communities market, with a market share of over 45%, in 2017. The market here is primarily backed by the U.S., having high popularity of social media networks. The U.S. is among the top 10 countries having high penetration (approximately 71%) of social media networks across the world. In addition, presence of numerous companies including IBM Corporation, Jive Software, Inc., Communispace Corporation, Microsoft Corporation (Yammer) and few others is another major factor supporting the market growth. Over the forecast period, Asia Pacific is set to emerge as the fastest growing on account of growing IT & telecom and healthcare sectors in the region.

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Large Number of Enterprise Social Network and Online Community Vendors Make the Market Highly Competitive

The overall market is still in nascent stage with limited adoption across different industry verticals. Due to presence of large number of players, the market has emerged highly competitive over the period. Majority of the companies including IBM Corporation, Jive Software, Inc., Communispace Corporation and Socialtext, Inc. focus on developing frequent updates in their software with an aim of improving user experience, convenience and look-and-feel of the platform. This further encourages the end-user organizations to adopt enterprise social networks and online communities for better employee engagement. Major players profiled in the market include IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., Jive Software, Inc., Google, Inc., Communispace Corporation, VMware, Inc., SAP SE, Socialtext, Inc., Telligent, Inc., Mzinga, Inc., Lithium Technologies, Inc., TIBCO Software, Inc., Convo, Salesforce.com, Inc., Zyncro Tech SL and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The enterprise social networks and online communities market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global enterprise social networks and online communities market based on deployment model, enterprise size, industry vertical and geography. Key segments covered in the report are as follows:

Key questions answered in this report

• What was the market size of enterprise social networks and online communities in 2017 and forecast up to 2026?
• Which is the largest regional market for enterprise social networks and online communities?
• What are the key market trends observed in the enterprise social networks and online communities market?
• Who are the key players leading the market?
• What are the key strategies adopted by the leading players in market?

Unique data points of this report

• Statistics on active social media users worldwide
• Top countries in terms of penetration of social media
• Attractive investment proposition for industry vertical segment as well as geography
• Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)