The global collaborative applications market is expected to witness significant growth over the forecast period. Collaborative or groupware applications are software designed in an architecture to help people get involved in a common task and accomplish a common goal. The aim of any company is to make its critical workforce perform smarter, faster and help them to be more productive. In order to achieve this goal the company requires next generation technology and collaborative applications and technology is one among them.
Adopting such technology helps to analyze the collaborative behavior by digging deep into processes and incentivize the methods. From the competitive perspective, it can be said that major vendors need to raise their aspirations in order to achieve their targets. Although there is no lack of collaborative applications and technologies in the market place vendors are presenting innovative offerings such as Chatter which is a social platform same as Facebook, Yammer and Jive. These also includes company crowd sourcing apps like Answer Hub and Spigit.
A survey conducted by Avande in 2013 found that 77 percent of the decision makers are using collaborative tools and 82 percent of the businesses who uses collaborative technology and related applications wanted to use and adopt more in the upcoming years. Consumer giant Unilever is one of the largest end user of collaborative applications.
Unilever’s “Creating Brand’s for Life” social marketing campaign aims at its customers who can also play the role of advocates to their brand portfolios. To meet this business requirement coordination among customers and central marketing team is done with Unilever’s collaborative application name digital platform for social marketing. This helped Unilever to touch base customers with ease by creating customized internal sites where marketers and partners can converse easily.
The key drivers and benefits for collaborative applications market that help to boost growth include immense demand from embedded technologies and insurance companies. In insurance collaborative technology application is of immense importance as it helps in improving underwriters’ speed and effectiveness in pricing insurance policies.
Other benefits obtained from adopting these applications is the availability of a platform that allows for sharing experience and ideas online., Carbon management software are also a kind of collaborative application where company identifies programs to reduce CO2 emissions. These applications also help in quick sharing of documents. It helps to guide a particular process which can be performed optimally and thus help to improve quality and productivity at one go.
One of the key drivers of collaborative applications market is change management adopted by different multinational companies. Any business which is highly labor intensive presents itself as a lucrative application market for collaborative applications. Salesforce.com uses “live ops” cloud contact centre for delivering global customer support services. This involves tapping vendors who work from home and they set their own login efforts.
It is expected in that future the collaborative applications market will see a tremendous growth rate as the present application concepts are projected to be applied to different kinds of knowledge works.
On the basis of application, the industry can be segmented into computer supported cooperative network, integrated collaboration environment, content management system, document management system, enterprise content management, event management software, human-based genetic algorithm, intranet, common based peer production, and management information systems.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The global industry is expected to be valued at over USD 150 million by 2022 with North America and Europe being the major contributors towards its revenue.
Key vendors in the industry include 10000ft, Asana, Base camp, Binfire, Bitrix, Bluescape, Brightpod, CEITON, Central desktop, Citadel/UX, Collaborate Cloud, Confluence, Desk away, eXo Platform, Freed camp, Group - office, High Q, hurdle.net, Hyper office, IBM Connections, Intellinote, Jive, Liquid Planner, Mavenlink, Only Office, Open Text, Pivotal Labs, Podio, red booth, same page, share point, slack, smart sheet, Team Foundation server, Team Wox, teamwork.com, Target Process, Tom’s Planner, Trello, Yammer, Wrike, Xait, Zarafa, Zoho.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.