The use of enterprise social collaboration tools are expected to drive the global market for these services to nearly $3.5 million in revenue by 2016, according to a recent study conducted by ABI Research.
The research indicated that profits are projected to increase from approximately $900 million last year, which was an increase of nearly 52 percent compared to 2009. Between 2011 and 2016, the compound annual growth rate of the industry is projected to be even greater.
One of the key drivers of the revenue growth is the use of Microsoft SharePoint, according to ABI Research.
“SharePoint implementations are pervasive,” said ABI Research mobile services director Dan Shey. “However, smaller vendors are building solutions with compelling ‘social’ features that can integrate well with SharePoint, bridging significant solution gaps and addressing critical market needs.”
Shey added that the enterprise collaboration software vendor landscape has experienced rapid changes among its leaders.
Microsoft SharePoint continues to be a key solution for organizations worldwide. A recent study of more than 2,000 IT directors and managers by Mindmetre Research suggested “overall awareness” of the software is high.