Employee Communication Software Market is expected to reach US$ 1,780.09 Mn in 2027

by Sameer Joshi or 24-Feb-2021

According to the new research report titled “Employee Communication Software Market Forecast to 2027 – COVID-19 Impact and Analysis – by Deployment Type (On-Premise and Cloud), Enterprise Size (SMEs and Large Enterprises), and Industry (BFSI, Manufacturing, Retail, Healthcare, IT and Telecom, and Other Industries)” published by The Insight Partners, the market is expected to reach US$ 1,780.09 million by 2027, registering a CAGR of 11.8% from 2020 to 2027.

Employee Communication Software Market in APAC to Grow at Highest CAGR During 2020–2027
In terms of growth, APAC is anticipated to be the fastest-growing region with an impressive CAGR of 14.3% during 2020–2027. APAC comprises several developing economies such as China, India, Australia, and other southeast countries, as well as developed economies such as Japan. Favorable government support to promote manufacturing and service-based sectors by integrating advanced technologies in emerging economies such as China and India will further accelerate the penetration of employee communication software. In addition, more than 30% of Japanese companies have a policy of flexible working that helps in promoting the use of employee communication software. Also, the regional logistics sector is driven by the increase in trade and e-commerce. This aspect is anticipated to promote the penetration of employee communication software, as most of the logistics staff works remotely. Moreover, growing focus of corporates on increasing efficiency, workforce management, and productivity is expected to boost the employee communication software market. Asian organizations spend an average of 15% of their total revenues on digital initiatives, which allows them to spend on modern technologies. Moreover, organizations backed by regional government bodies are fueling digital transformation and connected workplace. China, Singapore, Japan, South Korea, and India are making huge efforts to develop their organizations by transforming it. Manufacturing and retail players are the prominent industries in Asia that are growing at an exponential rate. In addition to digital transformation and connected workforce, a wide footprint of companies offering employee communication platforms also contributes the market growth in APAC.

The growth of the outlook of employee communication software market in all the major regions is likely to propel during the forecast period. The COVID-19 outbreak is expected to further drive the adoption of employee communication software among enterprises owing to mass lockdowns, travel bans, and business shutdowns across all countries. The companies have implemented work from home policies as a preventive measures to prevent the spread of COVID-19. Thus, there is a sudden increase in y-o-y growth of the employee communication software market in 2020and will continue during the forecast period.

Key Findings of Study:
Employee communication platforms are one-stop communication solutions for enterprises that help them boost internal communications, engage employees, and improve overall business communication. These platforms can also be personalized as per customer requirements to deliver targeted communication across business units, branches, and departments and enable a digital workplace by including both office workforce and mobile/deskless workforce. Presently, the employee communication software market is primarily dominated by large enterprises in terms of revenue share due to their large-scale operations and high adoption of such solutions in developed regions such as Europe and North America. In addition, large enterprises are the ones driving the trend of digital transformation in workplaces and on-field to improve overall operational efficiency and enhance employee engagement. Moreover, the rising penetration of digital solutions, cloud computing, and mobile-first communication platforms among small & medium sized enterprises (SMEs) is anticipated to drive the growth of employee communication software market during the forecast period. SMEs are in the growth stage of adopting advanced and effective employee communication solutions by replacing the traditional company intranet and other broad functionality software solutions. Moreover, with growing adoption and popularity of cloud-based employee communication software solutions, SMEs now have an option to invest in effective employee communication software due to cost benefits and easy integration offered by cloud-based solutions. Thus, the rising penetration of digital solutions among SMEs for improving business communication, enhancing operational productivity, and reducing costs are among the major factors that are projected to offer growth opportunities for market players during the forecast period. A few companies operating in the employee communication software market are Beekeeper AG; Nudge Corporation; Poppulo (E-Search DAC); Simpplr Inc.; Smarp Oy; SnapComms; Sociabble, Inc.; Staffbase; theEMPLOYEEapp; and Workvivo Limited.

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