The global enterprise social software market is estimated to grow from USD 9.16 billion in 2024 to USD 16.43 billion by 2029, growing at a CAGR of 12.4% from 2024 to 2029.
Enterprise Social Software (ESS) refers to a layer of social media in addition to traditional collaboration tools, enabling content sharing, as well as additional features such as document sharing, wikis, microblogs, shared spaces and communities, among other business applications. These solutions provide businesses with several benefits, including greater transparency, better communication of business ideas and information, flexibility and performance, and simplified operations. The growing need for professional networking among employees, partners, distributors, suppliers and other players in the business value chain has led to the increasing use of the products in the Enterprise Social Software market in desktop computers, laptops and mobile personal devices. While companies around the world hope to incorporate enterprise social software into their current work scenarios, ESS vendors hope to gain a better competitive advantage in the emerging market by creating new technological features that facilitate their faster adoption. Enterprise social solutions are gaining momentum in today's business ecosystem. These solutions are positioned as flexible and easy-to-use tools that aim to improve the business value of companies in all regions. Social enterprise systems and solutions offer several advantages beyond simple connectivity and social media.
Enterprise social solutions combine traditional collaboration suites with a must-have social layer that spans most geographies and verticals. The solution provides a social platform for evolving businesses while ensuring flexibility in terms of scope, implementation and administration. While the social concept of business began with an emphasis on social sharing between employees within a company, the solution offerings have already extended beyond the company to reach the ecosystem, allowing a social link with distribution partners, distributors and customers. While the benchmarking of social enterprise solutions remains an ambiguity among organizations, companies are increasingly accepting the hidden benefits of these solutions. Global adoption trends and a prominent ubiquity in most verticals are clear indications of positive growth, as early adopters are already evangelizing the various benefits of this social suite.
Global Enterprise Social Software (ESS) Market Drivers:
The emergence of social media, the introduction of BYOD (bring your own devices), and employee demand are some of the major drivers of the global enterprise social software (ESS) market. The growing adoption of social software by entrepreneurs to reduce communication costs, increase workforce productivity, and shed light on innovative ideas and ideas has also fuelled the demand of the global market. Constant software development and increasing demand from the end-user segment have driven the growth of the global enterprise social software (ESS) market.
The developments in social media are expected to drive the enterprise social software market during the forecast period. In addition, the increased need for business networking between employees, retailers, wholesalers and distributors is also estimated to drive the market. The need to increase business productivity, along with cost control measures, plays a critical role in shaping the future of the enterprise social software market. Although adoption of these tools is relatively slow due to management's close-mindedness, these solutions are expected to grow steadily and have a ubiquitous existence in all major verticals, due to the growing demand for 'connectivity social '', in real-time. These solutions are well placed to bring businesses together, despite time constraints and organizational structures.
Global Enterprise Social Software (ESS) Market Restraints:
However, the high cost of the initial setup phase and the lack of integration of tools and uncertain methodology are some of the factors limiting the global enterprise social software market. Also, the lack of knowledge among enterprises about ESS is likely to hinder the expansion of the market.
Impact of COVID-19 on the global enterprise social software (ESS) market:
Coronavirus has become a global emergency with death, and economic and trade devastation, affecting the healthcare system, economy, businesses, social movements, employees and employment opportunities. Restrictions imposed by global governments to contain the spread of COVID-19, including stay at home, quarantine, social distancing and limiting social movements, all these steps translate into lower supply and demand.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
12.4% |
Segments Covered |
By Deployment, Organization Size, Vertical and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
OpenText Corp, Broadvision, Google Inc, Salesforce, Cisco, Tibco Software, Autodesk, Jive Software, IBM, Atos, and Microsoft. Other key players comprise Lithium, Socialtext, Mzinga, Sitrion and Others. |
This research report on the global enterprise social software market has been segmented and sub-segmented based on deployment, organization size, vertical and region.
Global Enterprise Social Software (ESS) Market - By Deployment:
Among these, the cloud deployment segment is expected to be the fastest-growing segment in the global ESS market. Enterprise solutions blend conventional cooperative sets with the necessary social layer that is present in most geographic regions and diagonal segments. The solution provides a social network for business development, ensuring flexibility in scope, operation and establishment.
Global Enterprise Social Software (ESS) Market - By Organization Size:
Among these, the SME segment is expected to be the fastest-growing segment in the global ESS market.
Global Enterprise Social Software (ESS) Market - By Vertical:
Global Enterprise Social Software (ESS) Market – By Region:
North America is estimated to experience strong growth over the foreseen period. Huge acquisition trends and even an influential prevalence in many verticals are clear indications of a positive development in the social software industry, as early adopters are now evangelizing the multiple benefits of such a social suite.
The Asia-Pacific region is determined to experience strong market growth during the forecast period. In the Asia-Pacific region, not only are business solutions supposed to go beyond initial optimism but are also seen as a wonderful solution to improve brand value through smoother messaging and optimized connectivity all agencies. Europe is foreseen to dominate the global enterprise social software market during the projected period, mainly due to the high brand awareness of SMEs, increased R&D activities and highly profitable business strategies.
KEY MARKET PLAYERS:
Some of the key players leading the global enterprise social software (ESS) market include OpenText Corp, Broadvision, Google Inc, Salesforce, Cisco, Tibco Software, Autodesk, Jive Software, IBM, Atos, and Microsoft. Other key players comprise Lithium, Socialtext, Mzinga, and Sitrion.
RECENT HAPPENINGS IN THE MARKET:
Frequently Asked Questions
The global enterprise social software (ESS) market is estimated to be worth USD 9.16 bn in 2024.
Major contributors to the global ESS market share include North America, Europe, Asia-Pacific, and regions within emerging markets, each with its unique trends and dynamics.
The COVID-19 pandemic has accelerated the adoption of ESS globally, as organizations seek effective tools for remote collaboration, virtual teamwork, and maintaining employee engagement.
OpenText Corp, Broadvision, Google Inc, Salesforce, Cisco, Tibco Software, Autodesk, Jive Software, IBM, Atos, and Microsoft. Other key players comprise Lithium, Socialtext, Mzinga, and Sitrion are some of the notable players in the global ESS market.
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