Global Social Intranet Software Market Highlights over 2022 – 2031
The global social intranet software market is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022 – 2031. Social intranet is an internal communication platform, which is prominently used in workplace for collaboration and files sharing. The growth of the market can be attributed to the increasing demand for social intranet software in offices to maintain good communication, and avoid data breach or hacking by external sources. Along with this, this software has features to support remote workforce, which is further estimated to boost the market growth. Moreover, increasing penetration of cloud-computing technology, and IoT, combined with rising social connectivity are projected to encourage the market growth. For instance, it was observed that cloud computing generated a revenue of more than USD 290 billion in 2020. In addition to this, the increasing cases of data theft, hacking, and privacy breaches in commercial spaces, are estimated to fuel the market growth.
Furthermore, the increasing penetration of internet, and the rising demand for efficient communication platform for employees to enhance productivity, are also anticipated to surge the adoption of social intranet software. According to the data by the World Bank, in 2019, 56.727% of the total global population has access to internet. CLICK TO DOWNLOAD SAMPLE REPORT
The market is bifurcated by end-user into commercial, and non-commercial, out of which, the commercial segment is anticipated to hold the largest share in the global social intranet software market over the forecast period on account of high demand for intranet platform in offices for safe and smooth communication. Based on application, the market is segmented into BFSI, retail & e-commerce, telecom, healthcare, media & entertainment, and others. Out of these, the telecom segment is estimated to gain significant growth during the forecast period owing to the rising adoption of advanced technologies and software in the telecom sector, along with the higher acceptance of cloud computing technology.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Social Intranet Software Market Regional Synopsis
On the basis of geographical analysis, the global social intranet software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing service sector, and increasing employment rate in developing countries, such as, India, China, Japan, and Singapore. Moreover, high investment by multi-national companies in the APAC region, backed by the cheap labor, is bound to create growth opportunities for the market.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period, owing to increasing adoption of advanced technologies, along with rising remote working conditions. Moreover, increasing expenditure in the IT sector, which is further anticipated to boost the regional market growth. The government IT expenditure in the U.S. crossed USD 86 billion in 2019, which is projected to reach around USD 92 billion by the end of 2021.
The global social intranet software market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global social intranet software market includes the following segments:
By Type
- Cloud
- On-Premise
By Application
- BFSI
- Retail & E-commerce
- Telecom
- Healthcare
- Media & Entertainment
- Others
By End-User
- Commercial
- Non-Commercial
Growth Drivers
- Increasing Need for Communication Platform for Workplaces
- Growing Penetration of Cloud Technology
Challenges
- Lack of Awareness about the Software
- High Maintenance Cost
Top Featured Companies Dominating the Market
- Jive Software, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- TFW Labs, Inc.
- Colibo A/S
- HyperOffice
- eXo Platform SAS
- Creative Social Intranet
- Speakap B.V.
- Informa PLC
- SharePoint Inc.
- Collab Hub LLC
