Web 2.0 - Global Market Trajectory & Analytics

Global Enterprise 2.0 Market to Reach US$9 Billion by the Year 2026

Enterprise 2.0 technologies are capable of improving external and internal business processes like product innovation, marketing and communication with suppliers and customers. These technologies ensure seamless information sharing among stakeholders, staff and clients to boost innovation, efficiency and productivity. Organizations are integrating enterprise 2.0 technologies and communication strategies to foster communication, ensure access to desired knowledge and expedite business processes. Growth in the global market is set to be driven by rising geographical diversity linked with worksites, transition to remote working, rising competition, high adoption of advanced technology among consumers, and better access to affordable mobile devices. The market is buoyed by increasing reliance on the Internet, rising investments in human capital and expansion of the broadband infrastructure. The market is posting substantial gains on account of rising significance of the web to attain diverse goals. Some of the other prominent market drivers include high organizational awareness, strong focus on customer engagement online and adoption of sophisticated applications. In the coming years, a large number of enterprises are anticipated to integrate business applications and social activity for desirable activity streams that allow organizations to navigate relevant material and quickly get the information. The integration of back-office systems with social media tools is expected to help companies in gaining insights into clients` business decision making process. The approach is bound to help companies in exploring and tapping new business processes. These benefits are poised to boost global adoption of enterprise 2.0 technologies and provide the required impetus to the global market.

Amid the COVID-19 crisis, the global market for Enterprise 2.0 estimated at US$2 Billion in the year 2020, is projected to reach a revised size of US$9 Billion by 2026, growing at a CAGR of 27% over the analysis period. Information Technology (IT), one of the segments analyzed in the report, is projected to grow at a 28.8% CAGR to reach US$3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the BFSI segment is readjusted to a revised 32.3% CAGR for the next 7-year period. This segment currently accounts for a 22.3% share of the global Enterprise 2.0 market.

The U.S. Market is Estimated at $986.8 Million in 2021, While China is Forecast to Reach $1.1 Billion by 2026

The Enterprise 2.0 market in the U.S. is estimated at US$986.8 Million in the year 2021. The country currently accounts for a 38.44% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2026 trailing a CAGR of 30.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 25.2% and 23.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 19.3% CAGR while Rest of European market (as defined in the study) will reach US$685.4 Million by the end of the analysis period. The US dominates the global enterprise 2.0 technologies market. The regional market is propelled by the presence of an established infrastructure supporting technological progress and increasing uptake of new business processes. Revenue growth of the market is also bolstered by high penetration of cloud technology along with increasing adoption of social media across a large number of enterprises in the US. Asia-Pacific is projected to exhibit a phenomenal growth due to emergence of various economies in the region as technology hub. The region is witnessing consistent transition of organizations from resources and efficiency towards innovation. In addition to reporting high adoption of sophisticated technologies, the Asia-Pacific region is witnessing increasing investments in R&D activities related to enterprise social networking software.

Manufacturing Segment to Reach $1.1 Billion by 2026

In the global Manufacturing segment, USA, Canada, Japan, China and Europe will drive the 24.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$231.4 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$102.4 Million by the year 2026.

Select Competitors (Total 35 Featured) -

• Amazon.com, Inc.
• Avaya Inc.
• Cafex Communication Inc.
• Cisco Systems, Inc.
• Dell Technologies, Inc.
• Dialogic Corporation
• International Business Machines Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• Vonage Holdings Corporation.