Worldwide Enterprise Social Networks and Online Communities Market Shares, 2017: Innovation at Scale
According to the latest market report published by KMI Market Research titled ‘Enterprise Social Networks and Online Communities Market: Global Industry Analysis and Forecast 2017–2022’, the global enterprise social networks and online communities market is anticipated to grow from US$ 2,525.1 Mn in 2016 to US$ 12,178.0 Mn by 2022, registering a CAGR of 15.5% in terms of revenue during the forecast period (2017-2022). In this report, the global enterprise social networks and online communities market is tracked in terms of value and is calibrated to obtain the market revenue estimates.
This KMI study examines the vendor revenue performance in the overall enterprise social network for 2017. One of the most sought after features in this market is the ability to operate online communities both in teams and across the enterprise.
The ability to seamlessly leverage other collaborative assets adds value to the communities, and the company as a whole."Collaboration is becoming the new manufacturing, according to Wayne Kurtzman, research director for KMI's Collaboration and Communities Solutions program. "Assembly lines created for productivity have evolved into a connected, collaborative workforce that is supported by cross-platform and cross-device technologies."
Increasing adoption of enterprise social networking technologies for collaboration with business technologies to improve social collaboration are major factors driving the growth of global enterprise social networks and online communities market. Demand for social media technology among businesses for activity streaming, blogging, profiles, expert advices and other secure communications is strong in this market and is slated to increase in the forecast period.
Moreover, demand among industries such as healthcare for real time communication is expected to improve growth which is expected to reflect in the revenue forecast.
However, lack of awareness about the technology, and the high cost of integration with business technologies are major challenges expected to be faced by market players in the global enterprise social networks and online communities market during the forecast period.
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