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Social for the Enterprise Is Expected To Double By 2019

Social for the Enterprise Is Expected To Double By 2019

Jul 30 2014
3222
"Global enterprise social software market (ESS) is forecast to grow from $4.77 billion in 2014 to $8.14 billion in 2019. This represents a compound annual growth rate (CAGR) of 11.3% from 2014 to 2019. The enterprise social software market drivers discussed in this research include Enterprise Social Adds Value to Businesses, Accommodating Features and Employees Popular Demand. Skeptical Approach, Initial Setup Costs and Profusion of tools and Lack of Integration are the major restraints and challenges mentioned for the ESS industry. Multi-Vertical Focus and Bring Your Own Device (Byod) Ecosystem are the top most opportunities analyzed for this sector."

Global enterprise social software market (ESS) is forecast to grow from $4.77 billion in 2014 to $8.14 billion in 2019. This represents a compound annual growth rate (CAGR) of 11.3% from 2014 to 2019. The enterprise social software market drivers discussed in this research include Enterprise Social Adds Value to Businesses, Accommodating Features and Employees Popular Demand. Skeptical Approach, Initial Setup Costs and Profusion of tools and Lack of Integration are the major restraints and challenges mentioned for the ESS industry. Multi-Vertical Focus and Bring Your Own Device (Byod) Ecosystem are the top most opportunities analyzed for this sector.

 

The ESS market redefines the traditional collaboration suite by bringing in a social angle to it. These solutions are not just confined to traditional email and online meetings but also extend their offerings to social networking functionality such as micro-blogging, wikis, profiles, tagging, and feeds. These solutions don't just cater to employees within organizations, but are also aimed at expanding their reach across channel partners and customers, thereby expanding their reach across departmental and geographical boundaries. Social software suite includes social networking, social content, and social collaboration.

Components of an enterprise social suite: 

  • Social collaboration: Social collaboration comprises sharing, distribution of information amongst users, document sharing, emails, instant messaging, online meetings, webinars, video conferences, and screen sharing, amongst others
  • Social content: Social content applications support explicit sharing of content items along social networks. As a category, social content includes video or media-sharing, as well as other ways to share or raise awareness of content
  • Social networking: Social networks can support basic communications as well as the sharing of information via bookmarks, news feeds, people search engines, comments, photo sharing, sharing documents, sharing reports and tasks, application activities, content, ideas, favorites, and ratings. Social networking is an integration of various social software functions into one environment
  • The complete report can be download here.

     

About the Author, Patrick Santry

Patrick Santry, has two decades of experience in enabling businesses to take advantage of the digital landscape. A well rounded experience in technology, and business is what sets me apart from the rest of the pack. When it comes to an overall digital strategy my experience is impressive.

BS in Computer Information Systems. Four time recipient of the Microsoft MVP Award, and author of several books and magazine articles on digital technologies.


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