Global enterprise social software market: $6.2 billion industry by 2018

Press Release   •   Feb 18, 2013 11:53 GMT

The global enterprise social software market is expected to grow from an estimated value of $721.3 million in 2012, to a total of $6.18 billion by 2018. This suggests a year-on-year CAGR of 44.9% between 2012 and 2018. The largest adopter in the global enterprise social software market is expected to be the 'High Tech & Telecommunication' vertical. In terms of regions, North America is expected to be the main contributor to the industry.

Enterprise Social Software (ESS) refers to a social networking layer on top of tradition collaborative tools, which enables content sharing, along with additional features such as document sharing, wikis, micro blogging, shared spaces and communities, amongst other business applications. These solutions provide enterprises with several advantages including increased transparency, better communication of business ideas and information, flexibility and performance along with simplified operations.

Major forces driving this market are the rising need to stay connected, seamless social integration channels and the popularity of sharing ideas on a real time basis. Rising need for enterprise internetworking amongst employees, partners, distributors, suppliers and others in the business value chain has given way to growing deployment of ESS on-premise as well as on the cloud. While enterprises across the globe are looking forward to incubate ESS into their current work scenarios, ESS providers look forward to gain better competitive advantage in this emerging market, thereby creating new technological features that facilitate quicker adoption of the same.

We believe that the need for increasing enterprise productivity, along with cost control measures is playing a pivotal role in shaping the future of enterprise social software. Even though the adoption of these tools is relatively slow due to closed mindsets of the top management ; these solutions are expected to grow steadily and have a pervasive existence across all major verticals, owing to the growing demand of 'social connectedness', on a real-time basis. These solutions are well positioned to bring businesses closer, despite time zone barriers and organizational structures. We further expect that the integration of enterprise social software tools with the existing collaborative organizational tools and applications will further enhance the growth of enterprises, while ensuring their compliance and regulatory policies.

Report Scope

The Enterprise Social Software (ESS) market is broadly segmented by type of deployment models: On-premise and On-demand; By type of service consumers: Small Office Home Office(SOHO), Small and Medium Businesses(SMB), Enterprises; By type of verticals: Banking and Finance Service Insurance (BFSI), Academia and Government, Healthcare and Life Sciences, Retail, High Tech and Telecommunications and other sectors; By geographies: North America(NA), Asia Pacific and China(APAC), Europe(EU), Middle East Africa(MEA) and Latin America(LA).

This research report categorizes the global market for Enterprise Social Software in each of the following sub-markets:

On the basis of Deployment and Service:

- On Demand (SaaS)
- On Premise

On the basis of Service Consumers:

- Small Office Home Office (SOHO)
- Small and Medium Businesses (SMB)
- Enterprises

On the basis of Verticals:

- Academia and Government
- Banking, Financial Services and Insurance (BFSI)
- Healthcare and Life Sciences
- Retail
- High Tech and Telecommunications
- Others

On the basis of Geography:

- North America (NA)
- Europe (EU)
- Middle-East Africa (MEA)
- Asia-Pacific (APAC)
- Latin America (LA)

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