Enterprise Social Networks And Online Communities MarketSize and Trends

The global enterprise social networks and online communities market is estimated to be valued at US$ 5,539.0 million in 2021 and is expected to exhibit a CAGR of 16.5 % over the forecast period (2021-2028).

Figure 1. Global Enterprise Social Networks and Online Communities Market Value (US$ Mn), by Region, 2020

North America held dominant position in the global enterprise social networks and online communities market in 2020, accounting for 31.9% share in terms of volume, followed by Asia Pacific and Western Europe, respectively.

Market Trends

Growing demand for services among large enterprises

Large enterprises account for larger share of the global market as compared to smaller players in the market due to more capital to invest and strong global presence. Large enterprises adopt these enterprise social networks and online collaboration solutions, in order to connect with employees working globally and to promote their products and analyze user behavior related to respective products. It is expected that in the near future demand for services such as consulting and implementation among large enterprises is expected to increase significantly due to high adoption of enterprise social networking platforms currently.

Development of social networking analytics

Emergence of social networking analytics is creating major opportunities for market players. This technology uses data and obtains high volumes of information to aid organizations in taking vital decisions, owing to the use of big data and analytics. Social networking analytics tools allow users to analyze social media information with the help of graphs and other tabular forms of data. For instance, organizations are adopting Twitter and LinkedIn to post and publish advertisements of their products, and with the help of analytical tools, companies are able to analyze product growth and popularity.

Figure 2. Global Enterprise Social Networks and Online Communities Market Share, By Enterprise, 2020