Global enterprise 2.0 technologies market expected to reach around USD 14,955 million by 2024, at a CAGR approximately 46.87% for the forecast period from 2018 to 2024. Enterprise 2.0 Technologies Industry Share by Platform, Application and region.
Enterprise 2.0 Technologies Market
Enterprise 2.0 technology can spur productivity, efficiency, and innovation by encouraging staff and other stakeholders to discuss business problems and share information in an open and collaborative setting. According to a survey, 69% respondents claimed that their organizations have benefitted with better access to knowledge, effective marketing, innovative services, and higher revenue. The survey also found that the companies not only integrate enterprise 2.0 technology but also establish a network that involves the company, suppliers, and customers.
The global enterprise 2.0 technologies market is likely to be driven by the rising need to provide better customer service. Web 2.0 technologies help organizations in creating customer communities to consistently document common issues faced by them. Moreover, the increasing regional diversity of workplace demands a large number of staff to work from their homes, which is anticipated to contribute notably toward the enterprise 2.0 technologies market in the future. According to a survey by Gallup World Poll, most employees in America are working remotely. The survey also found that work from home opportunities and flexible scheduling of work play a critical role in an employee’s decision about continuing or leaving a job. However, the enterprise 2.0 technologies market growth might get limited due to the risk of security on networks and information overload in the future.
By platform, the market is segmented into wikis, blogs, really simple syndication (RSS), mashups, online communities, social bookmarking, social networking, and others. Wikis are one of the most popular forms of enterprise 2.0, as they are capable of enhancing a company’s communication technique along with creating a synergy of communication that flows from top to bottom management.
By application, the market includes information technology (IT), manufacturing, BFSI (Banking, Finance, and Insurance), education, healthcare, transport, government, retail, media, and others. The IT sector is likely to dominate the market in the future, due to its extensive use of enterprise 2.0 accounting method.
By region, the Asia Pacific region is expected to grow rapidly in the global enterprise 2.0 technologies market, owing to the rising number of installations and investments in research and development of enterprise social networking software in the region. Europe is projected to hold a considerable share of the global enterprise 2.0 technologies market in the future, due to the rising investments and adoption of cloud services. The North American enterprise 2.0 technologies market is likely to contribute a major revenue share in this global market in the future. This can be attributed to the early adoption of cloud technology and increased acceptance of social media by a majority of the U.S.-based companies.
The key players of the enterprise 2.0 technologies market include IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., Oracle, and SAP, among others.