Collaboration applications market surges 28% to $29 bn: IDC

The latest IDC report said revenues in the collaboration applications market grew 28.4 percent in 2021 to $29.1 billion.
Cisco collaboration business
The revenue growth in the collaboration applications market was driven by factors including companies expanding collaboration to more people, the purchase and integration of multiple solutions to better meet corporate needs, and price increases and/or feature upgrades.

IDC estimates that the collaborative applications market will grow to $63.8 billion by 2026.

“In the years ahead, collaboration platforms will become engaging, visual, functional, and community powered. These features, aided by intelligence, will evolve and support working from anywhere. A new array of metrics will develop that tie activities to customer outcomes,” said  Wayne Kurtzman, research vice president, Social, Communities, and Collaboration at IDC.