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IDC: Expenditure on collaboration software looks solid, even as offices move to reopen

IDC: Expenditure on collaboration software looks solid, even as offices move to reopen

Research firm IDC expects that spending on collaboration software will continue to explode after the pandemic and that companies will invest to more effectively connect staff and even customers.

Expenditure on collaboration software increased during the Covid-19 pandemic, as remote work became the norm for many companies, and investment remained high even as offices began to reopen.

Global spending on collaborative software reached $ 22.6 billion in 2020, according to an IDC report, up 32.9% from 2019. It was the fourth consecutive year of double-digit growth from year to year. year, according to IDC.

The top five revenue collaboration software vendors (Microsoft, Google, Zoom, Cisco and Slack) accounted for 64.2% of the market, 4% more than the previous year. The top 20 suppliers saw an annual revenue growth of 40%, on average, during the year, although Zoom outperformed the market by 227.1%.

A variety of factors are likely to contribute to continued growth, said Wayne Kurtzman, IDC’s research director and author of the report. Companies are now more aware of the business value of collaboration tools that enable optimized internal communications and better employee efficiency. The tools can also provide a better understanding of the operations and flow of information within an organization. And closer integration of collaboration software with business applications, such as CRM platforms, can help improve customer outcomes, he said.

New ways of collaborating will also boost business demand, Kurtzman said, as partners and customers find they can communicate more effectively. Slack and Microsoft have opened their respective team chat applications to external collaboration, for example by introducing shared channels.

«Collaborating with external users provides a better understanding of project teams and enables companies to better meet the needs of customers and partners,» said Kurtzman. «This translates into greater loyalty to the company and a better customer experience.»

Extending collaboration software to front-end and customer-oriented employee groups, which will be previously served, will also lead to costs.

In the future, IDC expects emerging collaborative technologies to increase revenue for a variety of vendors. This includes efforts to create virtual environments for remote collaboration, as seen with Microsoft’s HoloLens and Facebook’s Horizon Workrooms, and the replacement of «talking end» video streams with interacting avatars.

«Metaverse solutions will be integrated into conferences, teamwork and community space in the future,» he said.

A recent Gartner report also shed light on the degree of adoption of collaborative software during the pandemic.

Nearly 80 percent of workers now use workplace collaboration software, compared to just over half of workers in 2019, according to the results of the Gartner Digital Worker Experience Survey. This represented a 44% increase in use. Over the same period, the adoption of storage and sharing tools increased by 16% and the use of real-time mobile messaging applications increased by 7%.

The increase was driven by the rapid shift to pandemic video and audio dating: Gartner research also surprisingly found that the number of personal dating has dropped from 63% in 2019 to 33% in 2021 Expect Thiatshift to continue, with only 25% of the meetings taking place in person by 2024; Many companies plan «hybrid» remote work strategies in the future.