Enterprise Social Software Market Size, Share, and Industry Analysis, By Deployment (On-premise and Cloud), By Enterprise Type (Small and Mid-sized Enterprises (SMEs) and Large Enterprises), By Industry (BFSI, IT and Telecom, Education, Healthcare, Retail, and Others), and Regional Forecast, 2025-2032

Enterprise social software (ESS) combines collaboration tools and social networking used by organizations for sharing information and data, as well as for social and formal communications, networking, task sharing, micro-blogging, and other business applications. It fosters social connectedness among the organization’s employees, distributors, channels, partners, and customers. Furthermore, it helps organizations enhance business operations by enabling seamless connectivity and smoother communications across all departments.

The emergence of social networking over the years is expected to boost the enterprise social software market during the forecast period. Further, the rise in the need for enterprise inter-networking among employees, retailers, wholesalers, and distributors is also anticipated to fuel the market. However, a lack of knowledge among enterprises about ESS is expected to hinder the growth of the market. Moreover, the increase in demand for the bring-your-own-device (BYOD) initiative is a major opportunity for the enterprise social software market.

• According to Metrigy's Employee Experience & Workplace Engagement report for 2022-23, 45% of companies currently use social software, and an additional 36.3% are planning to implement it in 2022 or 2023. This makes it one of the top 3 opportunities for growth in employee experience technology. Furthermore, around 13.5% of organizations are currently evaluating the adoption of social software.

The COVID-19 pandemic had a significant impact on the global enterprise social software market. Sales of enterprise social software were negatively affected by the pandemic, along with the construction industry as a whole. Travel restrictions and supply chain constraints made it even more challenging. Software providers are making strategic decisions to recover from the pandemic. Players in the industry are conducting research and development activities to improve the technology used in construction operations. This will help integrate and automate work processes. Companies plan to bring advanced technologies to the market.

Impact of Generative AI on the Enterprise Social Software Market

Industries are rapidly adopting AI disruptors to keep up with technological advancements and unlock exponential business value. According to industry experts, generative AI is one of the most influential technology trends in 2022. Nearly 40% of companies plan to increase their AI investments in the coming years, largely due to the potential of generative AI.

Furthermore, companies, such as OpenAI and Google have created user-friendly GenAI platforms that enable individuals to generate thoughtful responses to difficult questions quickly. This rapid accessibility has captured the interest of people, governments, and business leaders worldwide. According to a survey by Writer, a GenAI company focused on enterprises, nearly 60% of companies have either purchased or intend to purchase at least one GenAI tool this year. Therefore, these developments are expected to drive market growth even further in the coming years.

Segmentation

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators
• Drivers, Restraints, Trends, and Opportunities
• Business Strategies Adopted by the Key Players
• Impact of Generative AI on the Global Enterprise Social Software Market
• Consolidated SWOT Analysis of Key Players

Analysis by Industry

Based on the industry, the market is divided into BFSI, IT and telecom, education, healthcare, retail, and others.

In 2023, the IT and telecom sector gained significant popularity. As organizations’ workspaces become increasingly divested from traditional office environments, workers will ultimately choose the most appropriate combination of tools to perform daily tasks. Companies are turning to social software in increasing numbers as they look for ways to increase collaboration, improve both business and individual worker productivity, and efficiently manage a growing deluge of content and information. It will be imperative for vendors to recognize that ad hoc collaboration will continue to complement social activity streams, particularly as enterprise social software becomes more embedded in business processes and the workspace.

Regional Analysis

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The global enterprise social software market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. As of 2023, a significant share of the market was held by North America due to rising investments in technologies such as artificial intelligence (AI) and the Internet of Things (IoT), particularly in lucrative markets, such as the U.S. and Canada.

In addition, the enterprise social software market in North America is benefiting from the government's push for technology adoption in enterprises to achieve higher-quality outcomes. The government's support in promoting technology use is further accelerating the country's progress.

• In May 2022, Oracle and Informatica partnered to bring governance products and data integration to Oracle Cloud Infrastructure. The goal is to enhance data science and analytics in organizations.

Asia Pacific is expected to experience the highest growth rate in the upcoming forecast period. As urbanization continues to grow, so does the demand for efficient and advanced solutions among businesses in various industries. China is predicted to dominate the regional market owing to the growing demand for customer relationship management among enterprises in the country.

The distribution of the global enterprise social software market by region of origin is as follows:

• North America – 33%
• South America – 8%
• Europe – 25%
• Middle East & Africa – 14%
• Asia Pacific – 20%

Key Players Covered

The key players in this market include Meta Platforms, Inc., BroadVision Group, Open Text Corporation, Salesforce, Inc., Atos, IBM Corporation, Cisco Systems Inc., Microsoft Corporation, Tibco Software Inc., and Autodesk Inc.

Key Industry Developments

• May 2022: SAP SE partnered with Accenture, an IT services and consulting company, to support large enterprises and drive continuous innovation. This collaboration integrates RISE with SOAR and SAP with Accenture, with the goal of helping our customers become more intelligent.
• February 2022: SurePoint Technologies, a provider of practice and financial management solutions for law firms, announced its acquisition of Cole Valley Software, a customer relationship management solution for legal professionals. With this acquisition, SurePoint will be able to offer a legal technology platform that integrates real-time CRM with financial data and practice management. This integration will enable law firms to grow and manage client relationships effectively.