New York, USA, July 06, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global employee communication software market is anticipated to garner a revenue of $1,197.2 million and grow at a CAGR of 10.8% during the forecast period from 2019 to 2026.
As per our analysts, with the rising adoption of communication software for web conferences among organizations to streamline the operations, and enhance the productivity and performance irrespective of the organization’s size and employee location, the employee communication software market is expected to witness progressive growth during the forecast period. Besides, the employee communication software enables employees to express their feedback and concerns on the project which is predicted to fortify the growth of the market over the analysis period. Moreover, the increasing acceptance of bring your own device (BYOD) and the rising interest in the Internet of Things (IoT) are expected to create massive investment opportunities for the market during the estimated timeframe. However, the high capital cost for the installation of communication software may impede the growth of the market during the forecast period.
Segments of the Employee Communication Software Market
The report has divided the market into segments based on development type, end-use, industry, and region.
Development Type: Cloud-Based Sub-Segment to be Most Productive
The cloud-based sub-segment is projected to generate a revenue of $594.1 million and rise at a CAGR of 11.6% during the analysis period. The cloud-type communication software offers greater compatibility and flexibility of the software to the management of an organization, which is the factor expected to bolster the growth of the market sub-segment over the forecast period.
End-Use: Large Enterprises Sub-Segment to be Most Lucrative
The large enterprises sub-segment is predicted to generate a revenue of $684.8 million over the analysis timeframe. The increasing demand for communication software among large enterprises to connect and assist their employees located in different locations is expected to amplify the growth of the employee communication software market sub-segment during the forecast timeframe.
Industry: Healthcare Sub-Segment to be Most Beneficial
The healthcare sub-segment is predicted to generate a revenue of $95.8 million and grow at a CAGR of 12.6% during the estimated period. The increasing adoption of employee communication software by hospitals and clinics to access the information from remote locations to support operational performance with patient safety is expected to fuel the growth of the market sub-segment over the analysis period.
Region: North America Region to Hold the Maximum Share of the Market
The North America region of the employee communication software market is expected to garner a revenue of $447.1 million throughout the forecast period. The increasing technological advancements in communication software and rapid adoption of this software by enterprises of all sizes in this region is expected to drive the regional growth of the market during the estimated period.
Key Players of the Employee Communication Software Market
The major players of the employee communication software market include
- SocialChorus, Inc.
- Sociabble, Inc.
- Poppulo
- Beekeeper AG
- OurPeople
- GuideSpark
- Smarp
- Nudge Rewards Inc.
- theEMPLOYEEapp and many more.
These players are broadly working on the development of new business strategies such as partnerships and collaborations, mergers and acquisitions, and product development to gain a leading position in the global industry.
For instance, in April 2021, Nudge Rewards Inc., a leading digital communications platform that improves productivity for organizations with deskless or frontline employees, announced its partnership with C.A. Short, an industry leader in helping organizations increase employee engagement. With this partnership, the companies aimed to provide a comprehensive employee experience solution for organizations to improve retention and engagement among their non-desk workers.
Further, the report also presents other vital aspects such as product portfolio, SWOT analysis, the financial performance of the key players, and the latest strategic development.
More about Employee Communication Software Market:
- Employee Communication Software Market is Reaching Newer Heights with Digital Advancements
- Top 5 Employee Communication Software in the Market
- What Are the Top Rated Employee Communication Software?
