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Social Intranet Software Market: By Type (Cloud, On-Premises), By Application (BFSI, Retail, and E-commerce, Telecom, Others), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[170+ Pages Research Report] Social Intranet Software Market to surpass USD 2 billion by 2031 from USD 0.3 billion in 2021 at a CAGR of 4.2% throughout the forecast period 2021-31.
Social intranet is a platform that aims to centralize content, information, and collaboration within your firm. From there, the app and software connections can be linked to the social intranet so that employees have access to all resources through a single dashboard. The advantages of a social intranet begin with the company's employees, as they provide a central communication hub that boosts employee engagement and motivation across the board. Employees have better access to knowledge and learning, enabling them to contribute to crowdsourcing information and new ideas.
Global Social Intranet Software Market to surpass USD 2 billion by 2031 from USD 0.3 billion in 2021 at a CAGR of 20.9% in the coming years, i.e., 2021-2031. The market for Social Intranet Software is rising as a result of factors such as the growing requirement for high employee productivity and engagement, as well as digital workplace solutions. Other factors driving the growth of the Social Intranet Software market include more operational flexibility, lower maintenance costs, and an increase in the number of SMEs around the world.
The Cloud segment is expected to grow with the highest CAGR during 2021-31
On the basis of Type, the Global Social Intranet Software Market is fragmented into Cloud, and On-Premises. Since enterprises do not need to invest in additional computing resources, cloud implementation helps them to reduce total operational costs. Other factors, such as cost-effectiveness and increased efficiency, are expected to contribute to the segment's growth.
The BFSI segment is expected to grow with the highest CAGR during 2021-31
Global Social Intranet Software Market is classified on the basis of application into BFSI, Retail and E-commerce, Telecom, and Others. During the projection period, the BFSI segment will have the biggest market share. The reasons that can be ascribed to the increased demand for cloud-based security solutions, as well as the increasing risk of cyber threats against BFSI infrastructure, are driving demand for this category.
Higher demand for Social Intranet Software in various industries
The growing demand for social intranet software in the BFSI, retail & e-commerce, telecom, and healthcare industries, which are seeing rapid growth due to technology improvements and digital transformation initiatives across different regions, is driving the market. Furthermore, expanding social connectedness, as well as increasing cloud computing and IoT penetration, are expected to boost the market growth. Furthermore, the rising number of incidences of data theft, hacking, and privacy breaches in business settings is expected to drive market expansion.
Growing Demand for Effective Communication Platform for Employees
The Social Intranet Software includes features to accommodate remote workers, which is expected to drive market expansion. Another key market driver is the growing demand for social intranet software in offices to maintain effective communication and avoid data breaches or hacking by external sources. Furthermore, as the internet becomes more widely used and the desire for an effective communication platform for employees grows, social intranet software is expected to become more popular.
High cost associated with the Social Intranet Software
Data security issues are constraining market growth due to factors such as a shortage of qualified labor, experience, and the increasing adoption of cloud-based services inside companies and software solutions. The market's growth is also expected to be hampered by a significant volume of unstructured data held by businesses or individual customers.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Social Intranet Software Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America now dominates the global intranet as a service market and is expected to do so during the evaluation period. The demand for cloud-based software solutions is driving growth in the intranet as a service (IaaS) industry in this region. The market in the North American region will be driven by continual expenditures and a focus on the intranet as a service application among small and medium-sized businesses, the presence of key companies in the region, and ongoing projects.
Despite the fact that the intranet as a service business has seen a modest increase in company adoption over the last few years, the COVID-19 disruption triggered an explosion. With substantial changes in people's lifestyles, the IaaS industry is gaining significant market prominence. With the recent digital disruption and move to remote work brought on by the coronavirus, many businesses are in desperate need of new and better ways to communicate with their employees.
Global Social Intranet Software Market is further segmented by region into:
Social Intranet Software Market Segments:
Report Attribute |
Details |
|
Market size value in 2021 |
USD 0.3 billion |
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Revenue forecast in 2031 |
USD 2 billion |
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Growth Rate |
CAGR of 20.9% from 2021 to 2031 |
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Base year for estimation |
2020 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, Application, and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
Wizdom, Samepage, Speakap, SharePoint, eXo Platform, Honey, Collab Hub, Easysite, Hyper Office, Creative Social Intrane, Colibo, Titan Intranet, Jive Software, and Other Prominent Players. |
The Social Intranet Software Market size was estimated at USD 0.3 billion in 2021 and is expected to reach USD 2 billion in 2031.
Global Social Intranet Software is a form of corporate software that allows employees to communicate within the firm. Businesses use it to connect people, share files and data, and interact with one another both internally and outside.
The Cloud segment accounted for the largest Social Intranet Software Market share.
Key players in the Social Intranet Software Market include Wizdom, Samepage, Speakap, SharePoint, eXo Platform, Honey, Collab Hub, Easysite, Hyper Office, Creative Social Intrane, Colibo, Titan Intranet, Jive Software, and Other Prominent Players.
The market is growing due to the rising demand for social intranet software in the Retail & E-Commerce, BFSI, Telecom, and Healthcare industries.
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