Enterprise Social Networks Market Outlook
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The new report published by The Business Research Company, titled Enterprise Social Networks Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the enterprise social networks market size has grown rapidly in recent years. It will grow from $11.51 billion in 2023 to $13.45 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The enterprise social networks market size is expected to see rapid growth in the next few years. It will grow to $25.13 billion in 2028 at a compound annual growth rate (CAGR) of 16.9%.
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What Is Driving The Growth Of The Global Enterprise Social Networks Market?
Rising Remote Work Drives Expansion Of Enterprise Social Networks Market
Growing instances of remote working are expected to propel the growth of the enterprise social networks market going forward. Remote working refers to a work arrangement where employees perform their job duties from a location outside of the traditional office environment. The growing emphasis on remote working is driven by its potential to enhance flexibility, reduce overhead costs, and improve work-life balance for employees. Remote working utilizes enterprise social networks to facilitate seamless communication, collaboration, and knowledge sharing among distributed team members. For instance, in January 2024, according to the World Economic Forum, a Switzerland-based non-governmental organization, the global number of digital jobs that can be performed remotely from any location is expected to grow by approximately 25% by 2030, reaching around 92 million, up from 73 million in 2024. Therefore, the growing instances of remote working are driving the growth of the enterprise social networks market.
What Is The Key Trend In The Global Enterprise Social Networks Market?
Advancements In Enterprise Social Networking Enhancing Collaboration And Productivity
Major companies operating in the enterprise social networks market are focusing on developing innovative solutions such as artificial intelligence (AI)-powered networking platforms to enhance collaboration, streamline communication, and improve overall productivity within organizations. Artificial intelligence (AI)-powered networking platforms in enterprise social networks use AI to enhance connectivity by analyzing data to match employees with relevant contacts, opportunities, and information. They facilitate more efficient collaboration and knowledge sharing by automating and personalizing networking processes. For instance, in May 2023, The Goldman Sachs Group Inc., a US-based investment banking company, launched Louisa, an AI-powered social media platform tailored for corporate settings. It automatically generates user profiles from company databases and employs artificial intelligence to proactively connect employees who could benefit from networking based on potential deals and shared interests.
How Is The Global Enterprise Social Networks Market Segmented?
The enterprise social networks market covered in this report is segmented –
1) By Type: Cloud Or Web Based Enterprise Social Network Platform, On Premises Enterprise Social Network Platform
2) By Enterprise Size: Small And Medium Sized Enterprises (SMEs), Large Enterprises
3) By Industry: Education, Travel And Hospitality, Media And Entertainment, Healthcare, Information Technology (IT) And Telecom, Retail, Government And Non-Profit, Other Industries
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How Is The Competitive Landscape Of The Global Enterprise Social Networks Market?
Major companies operating in the enterprise social networks market are Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., SAP SE, Salesforce Inc., Zoho Corporation Pvt. Ltd., Aurea Software Inc., Alma Suite Inc., Jive Software Inc., Beekeeper Inc., Whaller Inc., Workplace Inc., LumApps Inc., Jalios SA, Happeo Inc., Igloo Software Inc., Vanilla Forums Inc., Jostle Corporation, Socialtext Inc., Talkspirit Inc., Jamespot Inc., Boonex Ltd., Axero Solutions Inc., Zyncro Tech S.L.
Contents Of The Global Enterprise Social Networks Market
1. Executive Summary
2. Enterprise Social Networks Market Report Structure
3. Enterprise Social Networks Market Trends And Strategies
4. Enterprise Social Networks Market – Macro Economic Scenario
5. Enterprise Social Networks Market Size And Growth
…..
27. Enterprise Social Networks Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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