Enterprise Social Networks Market: Global Industry Analysis And Forecast (2023-2029)

Global Enterprise Social Networks Market size was valued at US$ 12.06 Bn. in 2022 and the total Enterprise Social Networks Market revenue is expected to grow at 14 % from 2023 to 2029, reaching nearly US$ 30.19 Bn.

Enterprise Social Networks Market Overview:

Enterprise social networking is the use of social media by an organisation to interact with people who share its interests or businesses, both within and internationally. Internally, these social technologies help staff members work together more successfully and address company difficulties. These tools provide access to resources and information about clients for staff on the outside.Enterprise Social Networks MarketTo know about the Research Methodology :- Request Free Sample Report To improve communication and teamwork among employees, enterprise social networking makes use of both internal software and outside social media platforms like Socialcast and Yammer. Additionally, having accounts on widely used social media sites like Twitter, Facebook, and Google+ can help an organisation interact with and communicate with its customers as well as conduct research to optimize corporate operations and procedures. Our research methodology started with gathering information on the main vendors' revenue through secondary research in order to estimate and forecast the market for unified monitoring. To divide the market into segments, by Enterprise Type (Small & Medium Enterprises, Large Enterprises) by Industry Type (IT & Telecom, Healthcare, BFSI, Government , Retail & Consumer Goods, Others) vendors' offerings are taken into account. These segments were then confirmed through primary research by conducting in-depth interviews with important figures, including chief executive officers (CEOs), vice presidents (VPs), directors, and executives. In order to estimate the market size, top-down and bottom-up methods are employed. Primary and secondary research is used to identify the major players in the enterprise social networks market and to calculate their market revenues. In contrast to secondary research, which required examining the annual and financial reports of the leading manufacturers, primary research involved conducting interviews with major opinion leaders and business leaders in the industry, including CEOs and marketing executives. Microsoft Corporation, Socialtext Inc., Google, Inc, and IBM Corporation are a few of the top significant competitors in the global enterprise social networks market. For the duration of the forecast period, they are continually strategizing about mergers and acquisitions to increase their market shares and growth potential.

Enterprise Social Networks Market Dynamics:

Market drivers: The global market for enterprise social networks is expected to develop throughout the forecast period as more businesses use social media. Different social media platforms are being used by businesses and organizations more often. These platforms, except for engaging in promotional and marketing activities, are used largely by businesses and business people to network and stay informed about job openings and opportunities. Examples of such platforms are LinkedIn and Twitter. In order to boost sales and improve brand awareness online, businesses are also promoting the debut of new products and providing information about product discounts. The market for enterprise social networks is therefore expected to increase throughout the forecast period as a result of these factors. Over the course of the forecast period, the development of an environment that is conducive to business social networks is expected to drive market growth. The constant development of business technology by well-known corporations like Tibbr and Socialtext has made it easier to integrate social media platforms with corporate technologies. Additionally, a lot of businesses are using social media platforms to interact with and inform their customers and staff. The integration of the same with other business technologies is now required in order to fully benefit from these technologies for joint venture and collaborative objectives. Therefore, it is expected that these factors accelerate market growth in the forecast period. Market restraints: During the forecast period, a lack of secure connections is expected to restrain the growth of the market for enterprise social network businesses. One of the biggest problems that organizations encounter is a lack of adequate security. Businesses are more vulnerable to cyberattacks like illegal access to crucial company data when they collaborate online with social networking sites. Integration of ERP or CRM with enterprise social networking enables customers, suppliers, and other users to access a company's material, resulting in a relatively low preference for social networking among businesses. Therefore, it is expected that these issues restrict the market growth in the forecast period. The global market for enterprise social networks and online communities is expected to grow slowly over the forecast period owing to high implementation costs. Social networking for businesses uses cutting-edge technologies. The growth of IT and personnel up-training are essential for implementing this technology in enterprises. Additionally, this technology requires additional business technologies for integration in order for businesses to publish content and gather customer data. Therefore, during the forecast period, these factors are expected to hamper the growth of the global enterprise social networks market. Market Opportunities: There is significant commercial potential as BYOD culture gains popularity. A growing number of corporate businesses are adopting the bring its device (BYOD) mentality. In a big way, this tendency is opening up chances for market growth. BYOD technology is being used by businesses across a range of industries to cut costs associated with devices, PCs, laptops, etc. for the organization with the help of BOYD, staff members communicate in real-time with both clients and coworkers. Major businesses have taken advantage of these chances by offering creative solutions and gaining an edge over rivals in the market. Social learning platforms with rapid growth offer significant growth potential. Online services and social media platforms are used every day by more than 75 % of internet users. Social networking platforms are being used widely by businesses to train their personnel. Employees learn through virtual simulations without increasing costs to the organization Additionally, businesses utilize social media to promote engagement between online communities and specialists in order to solicit suggestions for resolving a wide range of complicated problems and challenges relating to their industries. For instance, Twitter created Twitter chat, which enables users to plan online talks using business social networking. The emergence of social networking analytics has given industry participants numerous opportunities. Due to the usage of big data and analytics, this technology uses data and gathers large amounts of information to assist enterprises in making crucial decisions. Users of social networking analytics software can examine social media data using graphs and other tabular data types. For instance, businesses are using LinkedIn and Twitter to post and publish product adverts, and with the aid of analytical tools, businesses are able to track the popularity and growth of their products.

Segment Analysis:

Based on Enterprise Type, The Large Enterprises segment is expected to grow at the highest CAGR during the forecast period. Large businesses are becoming more and more dependent on services. Owing to their superior financial resources and established international presence, large companies hold a higher part of the global market than do smaller competitors. In order to communicate with staff members working across borders, market their products, and track user behavior connected to specific items, large businesses use these enterprise social networks. Owing to the present widespread adoption of enterprise social networking platforms, it is expected that during the forecast period, demand for services like consultation and installation among large enterprises grow. Based on Industry Type, The IT & Telecom segment is expected to grow at the highest CAGR during the forecast period. The workplace social network in the IT & Telecom sector helps 67 % of employees have more interactions with more coworkers. "Social Network analysis illustrates what happens in the white area on the organization according to MMR findings. 50% claim that they are more reliant on others to do their work. 57 % of respondents say that the number of their coworkers from other regions has increased. With the help of the enterprise social network market, all benefits are available. Additionally, IT and telecom firms are implementing enterprise social network software solutions to control and foster centralized cooperation.Enterprise Social Networks Market

Regional Insights:

Enterprise social networking is widely used in the Asia-Pacific area. The Asia-Pacific region is home to the majority of unique enterprise social network users globally, making up 65% of the global audience, according to DFMA (Digital Marketing for Asia), a digital marketing services company with a focus on online advertising in Japan. North America is expected to experience the fastest growth rate during the forecast period. The region's use of enterprise social networks has increased as a result of manufacturers in North America adopting precision engineering techniques that emphasize accuracy and durability in product manufacturing. The objective of the report is to present a comprehensive analysis of the Enterprise Social Networks Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Enterprise Social Networks Market dynamics, and structure by analyzing the market segments and projecting the Enterprise Social Networks Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Enterprise Social Networks Market make the report investor’s guide.

Enterprise Social Networks Market Scope: Inquire before buying

Global Enterprise Social Networks Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 12.06 Bn.
Forecast Period 2023 to 2029 CAGR: 14 % Market Size in 2029: US $ 30.19 Bn.
Segments Covered: by Enterprise Type Small & Medium Enterprises Large Enterprises
by Industry Type Healthcare BFSI IT & Telecom Government Retail & Consumer Goods Others

Enterprise Social Networks Market, by Region

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Enterprise Social Networks Market Key Players

1. Microsoft Corporation 2. Socialtext Inc. 3. Google, Inc 4. IBM Corporation 5. Zyncro tech 6. SL 7. Cisco Systems 8. TIBCO Software 9. VMWare, Inc. 10. Jive Software 11. Salesforce.com 12. Talkspirit 13. Workplace 14. Jamespot 15. Yammer 16. LumApps 17. Jalios 18. Jostle 19. Happeo 20. Whaller 21. Beekeeper 22. Chatter FAQs: 1. Which is the potential market for the Enterprise Social Networks Market in terms of the region? Ans. In Asia Pacific region, the growing business and educational sectors are expected to help drive the use of collaborative screens. 2. What are the opportunities for new market entrants? Ans. The key opportunity in the market is new initiatives from governments that provide funding for Enterprise Social Networks Markets in educational institutes 3. What is expected to drive the growth of the Enterprise Social Networks Market in the forecast period? Ans. A major driver in the market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic 4. What is the projected market size & growth rate of the Enterprise Social Networks Market? Ans. Enterprise Social Networks Market size was valued at US$ 12.06 Billion in 2022 and the total market revenue is expected to grow at 14 % through 2023 to 2029, reaching nearly US$ 30.19 Billion. 5. What segments are covered in the Enterprise Social Networks Market report? Ans. The segments covered are Enterprise Type, Industry Type and, Region.
1. Enterprise Social Networks Market: Research Methodology 2. Enterprise Social Networks Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Enterprise Social Networks Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Enterprise Social Networks Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Enterprise Social Networks Market Segmentation 4.1. Enterprise Social Networks Market, by Enterprise Type (2022-2029) • Small & Medium Enterprises • Large Enterprises Trailers 4.2. Enterprise Social Networks Market, by Industry Type (2022-2029) • IT & Telecom • Healthcare • BFSI • Government • Retail & Consumer Goods • Others 5. North America Enterprise Social Networks Market(2022-2029) 5.1 North American Enterprise Social Networks Market, By Enterprise Type (2022-2029) • Small & Medium Enterprises • Large Enterprises 5.2 North America Enterprise Social Networks Market, By Industry Type (2022-2029) • IT & Telecom • Healthcare • BFSI • Government • Retail & Consumer Goods • Others 5.3 North America Enterprise Social Networks Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Enterprise Social Networks Market(2022-2029) 6.1. European Enterprise Social Networks Market, By Type (2022-2029) 6.2. European Enterprise Social Networks Market, By Industry Type (2022-2029) 6.3 European Enterprise Social Networks Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Enterprise Social Networks Market(2022-2029) 7.1. Asia Pacific Enterprise Social Networks Market, By Type (2022-2029) 7.2. Asia Pacific Enterprise Social Networks Market, By Industry Type (2022-2029) 7.3. Asia Pacific Enterprise Social Networks Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Enterprise Social Networks Market(2022-2029) 8.1. Middle East and Africa Enterprise Social Networks Market, By Enterprise Type (2022-2029) 8.2. Middle East and Africa Enterprise Social Networks Market, By Industry Type (2022-2029) 8.3. Middle East and Africa Enterprise Social Networks Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Enterprise Social Networks Market(2022-2029) 9.1. South America Enterprise Social Networks Market, By Enterprise Type (2022-2029) 9.2. South America Enterprise Social Networks Market, By Industry Type (2022-2029) 9.3 South America Enterprise Social Networks Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Microsoft Corporation. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Socialtext Inc. 10.3 Google, Inc 10.4 IBM Corporation 10.5 Zyncro tech 10.6 SL 10.7 Cisco Systems 10.8 TIBCO Software 10.9 VMWare, Inc. 10.10 Jive Software 10.11 Salesforce.com 10.12 Talkspirit 10.13 Workplace 10.14 Jamespot 10.15 Yammer 10.16 LumApps 10.17 Jalios 10.18 Jostle 10.19 Happeo 10.20 Whaller 10.21 Beekeeper 10.22 Chatter
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