Collaboration Software - Eastern Asia

The Collaboration Software market in Eastern Asia is expected to see a significant increase in revenue.
It is projected to reach a staggering US$860.00m by the year 2024.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 0.35%.
As a result, the market volume is expected to reach US$875.20m by 2029.
When compared on a global scale, it is worth noting that United States will generate the highest revenue in this market segment.
In 2024 alone, United States is projected to generate an impressive US$7.84bn in revenue.
In Eastern Asia, collaboration software is rapidly gaining popularity as companies strive for increased efficiency and teamwork.

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

The demand for collaboration software in Eastern Asia has been on the rise in recent years.

Customer preferences: Customers in Eastern Asia have shown a preference for collaboration software that is easy to use and can be integrated with other business tools. They also value software that offers real-time communication and collaboration features, as well as those that prioritize data security and privacy.

Trends in the market: In Japan, the collaboration software market has seen a shift towards cloud-based solutions, as companies seek to reduce costs and improve scalability. The market in China, on the other hand, has been dominated by local providers such as Tencent and Alibaba, who have leveraged their existing user base to gain market share. South Korea has seen an increase in demand for remote collaboration tools, as companies adapt to the new normal of remote work.

Local special circumstances: Eastern Asia is a diverse region with unique cultural and linguistic differences, which has led to the development of collaboration software that caters to local needs. For instance, in China, the use of messaging apps such as WeChat and DingTalk for business communication is more common than in other countries in the region. In Japan, there is a strong emphasis on privacy, which has led to the development of software that prioritizes data security.

Underlying macroeconomic factors: Eastern Asia is home to some of the world's largest economies, including China, Japan, and South Korea. The region's strong economic growth has led to increased investment in technology, including collaboration software. Additionally, the rise of remote work due to the COVID-19 pandemic has accelerated the adoption of collaboration software in the region, as companies seek to maintain productivity while employees work from home.

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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These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.