In a remarkable journey of growth, the global enterprise social networks market has left a significant mark. The year 2021 witnessed a substantial market size of US$ 6.4 billion, setting the stage for even more impressive strides ahead. Projections indicate a robust Compound Annual Growth Rate (CAGR) of 13.9%, propelling the market’s value to a remarkable US$ 26.5 billion by the year 2032.
At present, the enterprise social networks market accounts for approximately 10% of the overarching enterprise collaboration domain. This innovative space facilitates seamless connectivity and content exchange among employees, nurturing a platform for the sharing of ideas. Beyond this, enterprise social networks play a pivotal role in enhancing operational efficiency and refining internal communication within organizations.
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Elevating Collaboration and Communication: The Transformative Role of Enterprise Social Networks
- Seamless Integration with Business Applications: Unleashing the Power
In the realm of modern business dynamics, enterprise social networks are emerging as pivotal players in redefining collaboration and communication. By forging closer bonds with business applications, these networks are poised to evolve into central hubs for interaction, ushering in a new era of connectivity.
- Simplifying Communication: Taming the Inbox Chaos
A compelling advantage of enterprise social networks lies in their ability to declutter the communication landscape. Lengthy and bewildering email threads can be seamlessly replaced by efficient private or public communication channels. This transition not only streamlines conversations but also enhances engagement and efficiency.
Key Takeaways:
- By type, the cloud/web-based enterprise social network platform segment is estimated to grow at a robust CAGR of 2% through 2032.
- Among the enterprise size, large enterprises segment is anticipated to expand at a CAGR of 5% between 2022 & 2032.
- By industry, the IT & telecom segment is anticipated to grow at a CAGR of 8% between 2022 & 2032.
- North America is dominating enterprise social networks market followed by Europe region in 2022. South Asia & Pacific is estimated to grow at the fastest rate over the forecast period.
- The market in U.S. is expected to progress at a CAGR of around 8% through 2032.
- In India, the enterprise social networks market is expected to grow at a CAGR of 6% during the forecast period.
- Enterprise social networks market in China is estimated to witness the absolute opportunity of US$ 3.1 Bn over the forecast period.
More Valuable Insights on Enterprise Social Networks Market
Future Market Insight’s report on the enterprise social networks industry research is segmented into five major sections – type (cloud/web-based enterprise social network platform, and on-premises enterprise social network platform), enterprise size (small and medium-sized enterprises, large enterprises), industry (education, travel & hospitality, media & entertainment, healthcare, IT & telecom, retail, government & non-profit, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the enterprise social networks demand outlook.
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How is Adoption of Enterprise Social Networking Platforms Boosting the Market?
Increasing adoption of enterprise social networks solutions is helping organizations in reforming the communication across their workforce. Owing to this, demand for streamlined communications across the organizational hierarchy is increasing. Hence, companies are adopting enterprise social networks solutions and services for management of enterprise communication workflows.
Rising need for enterprise internetworking among partners, employees, distributors, and suppliers across small and mid-size enterprises is expected to augment the growth in the market over the forecast period.
Enterprise Social Networks Outlook by Category
By Type:
- Cloud/Web-based Enterprise Social Network Platform
- On-Premises Enterprise Social Network Platform
By Enterprise Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- Education
- Travel & Hospitality
- Media & Entertainment
- Healthcare
- IT & Telecom
- Retail
- Government & Non-Profit
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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