Collaboration Software - Asia | Statista Market Forecast

The Collaboration Software market in Asia is anticipated to witness a substantial growth in revenue, with projections indicating that it will reach a staggering figure of US$2.62bn by the year 2024.
Moreover, the market is expected to display a commendable annual growth rate (CAGR 2024-2029) of 3.28%, resulting in a significant expansion of the market volume to approximately US$3.08bn by 2029.
When compared globally, it is worth noting that United States is expected to dominate this market segment, generating an impressive revenue of US$7.84bn in 2024.
This showcases United States' leading position in the Collaboration Software market.
In Asia, the demand for collaboration software is rapidly growing, especially in countries like Japan and South Korea where remote work is becoming more prevalent.

Definition:

The Collaboration Software market covers software applications that are used to facilitate communication and collaboration among teams and individuals within an organization through various channels, such as email, instant messaging, video conferencing, and file sharing.

Products in the Collaboration Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Collaboration Software market comprises revenue, revenue growth, and key player market shares as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G).

Key players in this market include Zoom, Cisco, Slack, and LogMeIn.

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Team collaboration applications, such as Slack, Jira, and Trello
Conferencing applications, such as Zoom, Skype, and Microsoft Teams
Email applications, such as Microsoft Outlook, Amazon WorkMail, and Yahoo Business Mail
Synchronization software, such as NinjaOne, Cato Networks Suite, and ManageEngine ADManager Plus
Sharing software, such as Google Drive, Dropbox, and OneDrive

Social networks, such as Yammer, Twitter, and Buffer
Free-of-charge software, such as Airtable, Anaplan, and BlackLine
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

Collaboration software has become an essential tool for businesses in today's digital age. In Asia, the market for collaboration software is rapidly developing, driven by various factors such as increasing demand for remote work and the need for efficient communication channels.

Customer preferences: Asian customers have shown a preference for collaboration software that is user-friendly and easy to integrate with other applications. They also prioritize software that offers secure data storage and sharing capabilities. Furthermore, Asian customers tend to opt for collaboration software that is available in their local language, which has led to an increase in the number of software providers offering multilingual support.

Trends in the market: In China, the collaboration software market is dominated by local players such as Alibaba and Tencent. These companies offer a wide range of collaboration tools, including messaging apps, video conferencing, and cloud storage. The market in Japan is also growing, with companies such as NTT Communications and Fujitsu offering collaboration software solutions. Moreover, the rise of remote work has led to an increase in demand for collaboration software in Southeast Asia, with companies such as Zoom and Microsoft Teams gaining popularity.

Local special circumstances: In India, the collaboration software market is highly competitive, with both local and international players vying for market share. The market is dominated by companies such as HCL Technologies, Infosys, and Tata Consultancy Services. However, the market is also highly fragmented, with many small and medium-sized players offering specialized collaboration software solutions.

Underlying macroeconomic factors: The growth of the collaboration software market in Asia can be attributed to various macroeconomic factors, including the increasing adoption of cloud technology, the rise of remote work, and the growing trend of digital transformation in businesses. Additionally, the increasing use of mobile devices in the region has led to a demand for collaboration software that is accessible on-the-go. Furthermore, the region's large population and growing middle class have created a vast market for collaboration software providers to tap into.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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