Research Nester published a report titled “Global Visual Collaboration Platform Software Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global visual collaboration platform software market in terms of market segmentation by type, and application.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
With the increasing global IT sector, has led to additional adoption of visual collaboration platform software. Around the globe IT industry is one of the fastest-growing industries. The growing dependence on visual collaboration platform software increases as organizations are becoming more digitally connected due to the IT industry's incoming technologies. The increasing globalization on account of increasing industrialization is giving a significant boost to the required rate of visual collaboration software across the IT industries. In 2020, the global visual collaboration platform software market garnered USD 461.3 Million and by 2028, the market is estimated to touch USD 1667.6 Million by growing at a CAGR of 17.43% over the forecast period, i.e., 2020-2028. On the basis of type, the global market is divided into web-base and cloud-based, out of which, the cloud based is estimated to grow with highest CAGR throughout the forecast period.
Regionally, the global visual collaboration platform software market is segmented into five major regions comprising North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market accounted for highest market value (USD 276.3 Million) in 2020 and is further projected to grow significantly during the forecast period owing to the increasing application of visual collaboration platform software services in the primary industries, including healthcare, commercial business, manufacturing, and education.
Increasing need for efficient communication to Boost Market Growth
As organizations seek more robust employee engagement and customer experiences to enable more productivity and more significant business agility, visual collaboration platform software provides quality communication and collaboration, which helps organizations work smarter. For remote and office-based employees, visual collaboration platform software improves time management as employees tend to engage better on such platforms.
However, there are various security risks associated with visual collaboration platform software such as database breaches, ransomware attacks, storage problems, network-related problems, internet threats, and loss of credentials, leading to loss of information, financial data, and other issues are estimated to negatively affect the growth of the market in upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global visual collaboration platform software market which includes company profiling of Tactivos, Inc., Miro, Stormboard, , Conceptboard, Deskle, DEON GmbH & Co. KG, Ziteboard, iObeya, Lucid Software Inc., Freudenberg Filtration Technologies SE & Co. KG, IREMA, and Johns Manville. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global visual collaboration platform software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.