Enterprise social software is a set of social networking and collaboration tools used by organizations for sharing information, data, tasks, networking, social and formal communication. Enterprise social software offers organizations a means to improve business operations through unified connectivity that allows for smoother communications across all departments. Enterprise social software is primarily used for corporate communication, and also to improve transparency by making information or data easily accessible without boundaries.
Increasing adoption of social networking application such as LinkedIn, Twitter, etc. by business professionals & companies is a key factor driving growth of the global enterprise social software market. In addition, increasing use of tablets, smartphones & other internet enabled devices is another factor expected to propel growth of the global enterprise social software market over the forecast period.
However, concerns related to data security is a major factor restraining growth of the global enterprise social software market. Additionally, low adoption rate of enterprise social software (ESS) due to lack of awareness, and internet connectivity issues in developing economies are some other factors expected to hamper growth of the global enterprise social software market over the forecast period.
A major and rising trend in the global enterprise social software market is rising adoption of bring your own device (BYOD) at enterprises for communication with employees and clients. This is another factor expected to aid in growth of the global enterprise social software market over the forecast period.
The global enterprise social software market is segmented on the basis of enterprise type, end-user, and region. On the basis of region, the global enterprise social software market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America is expected to account for the largest share in terms of revenue as compared to other regions. This can be attributed to increasing penetration of internet, and development in enterprise applications in countries in the region. The market in Asia Pacific is projected to register highest CAGR over the forecast period, owing to increasing digitization in small and medium enterprises (SME) in emerging economies such as China and India.
Prominent players in the global enterprise social software market include Aurea Software, Inc., International Business Machines Corporation, Lithium Technologies Inc., Microsoft Corporation, Salesforce.com, inc., SAP SE, Socialtext, Inc., Synacor, Inc., TIBCO Software Inc., and VMware, Inc.
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