Businesses steered by collaboration technology will reap significant benefits, enhanced efficiencies, and improved revenues. Business spending on online collaboration solutions is predicted to expand this year further as the demand for these collaborative platforms continues to grow, further boosting the collaboration software market size. The collaboration with StatsSA will go a long way in enhancing the integrity of the SAPS crime statistics and ensuring that policy-makers have quality data to assist them with making policy decisions. The more channels of collaboration you open, the more likely collaboration is to take place. Copyright © 2020 FinancesOnline. Collaboration is how the world’s best work happens. Highest Collaboration/Communication Market Growth Segments in 2019, When talented, highly motivated individuals with brilliant minds work together on a shared objective, great things are achieved. Messaging apps have become part and parcel of daily life, and a critical part of business communication. The unified communications and collaboration market is expected to register a CAGR of over 27.8% over the forecast period 2020 - 2025. 1. Another issue is that Introducing these tools to an organization requires change management. These are also freemium software products, offering quite a bit of functionality before you need to breach the paywall. According to IBM, enterprise data is expected to grow at a rate of 50x year over … Source: MZA Consultants When asked about the frequency of their collaboration with colleagues, partners, or vendors, almost all connected employees (98%) collaborate at some level. This can be more complicated than it sounds…. The increasing use of AI with online collaboration solutions is driving the demand for enhanced communication and, Upcoming and emerging collaborative tools are expected to carry extra capabilities aside from core features. There will be a sustained rise of a wide array of AI-powered bots, such as Xor.ai, AllyO, and Text Recruit. To benefit from these trends, the proper mindset should be on how to productively exist and utilize AI. The increasing use of AI with online collaboration solutions is driving the demand for enhanced communication and workflow management tools. By the end-users/application, the Cognitive Collaboration Market report covers the following segments 2020-2025: Data Analytics Facial Recognition Social Media Assistance. This process can be facilitated by including discussions on collaboration in performance reviews and project meetings, where you can discuss the importance of collaboration and provide employees with an opportunity to communicate clearly on topics of importance to them. We must ensure that whenever people connect and collaborate, these translate to organizational productivity, business value, and competitive advantage. Providing immersive experience in workplace collaboration, VR and AR will reach a market size of $16.1 billion by 2025. Call Crime Stop at 08600 10111 Website: www.saps.gov.za. 57% of employees in the financial industry can work from home (U.S. Bureau of Labour Statistics) Virtual & Augmented Reality: The Next Big Computing Platform? A leading application in this department is Slack. A revolution in business process automation, MODELLING THE RELATIONSHIP BETWEEN DESIGN ACTIVITY AND COMPUTER-SUPPORTED COLLABORATIVE DESIGN FACTORS, The Future of Collaboration in the Artificial Intelligence Era, Professional Services Automation Software - PSA, Project Portfolio Management Software - PPM, 30+ Essential Online Collaboration Statistics: 2020 Analysis of Trends, Data and Market Share, Collaboration Software Market Size Statistics, Collaboration Technology in Business Statistics, Deployment of Workplace Collaboration Technology Statistics, business intelligence tools for small businesses and enterprises, future of online collaboration technologies, Cloud Communications Continue to Drive and Disrupt the $45 billion Collaboration Market, Enterprise Collaboration Market worth $48.1 billion by 2024. In terms of collaboration software market share, cloud-based online collaboration tools have now surpassed on-premise apps by a ratio of 64% to 36%. 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