PUNE, India, May 7, 2020
PUNE, India, May 7, 2020 /PRNewswire/ -- The COVID-19 pandemic is predicted to impact the global employee communication software market in a positive way. The healthcare industry will garner a considerable amount of the global market share. The small & medium enterprise end-user is anticipated to reach newer heights. The cloud-based development type will acquire a significant sum of the global market share. Asia-Pacific region will generate huge investment opportunities in the forecast period. The key players of the market are concentrating on various strategies to sustain in these trying times.
The sudden outbreak of COVID-19 pandemic has imposed a considerable impact on the employee communication software market. Low employee commitments include various issues such as employees leaving emails or channels on read that results ineffective sharing of information, which in turn has impacted positively on the market. Ineffective sharing of information includes various problems such as disseminating inappropriate information, usage of wrong channels, and infrequent sharing of information. For example, well known G2's market research analyst specialized in HR technology named as Courtney Moran stated that employee commitment is an important factor for flourishing company culture. This cataclysmic condition has put employee communication software to good use by using them in improvement of employee engagement. In the course of this havoc, we are offering complete support to our clients in understanding the influence of COVID-19 on the global employee communication software market. Our report consists of:
According to a recent report published by Research Dive, "Impact Analysis of COVID-19 on Employee Communication Software Market" is projected to garner $1,605.3 million by 2026, growing at a growth rate of 15.2% from 2018 to 2026. The report segments the global market on the basis of development type, end-user, industry, and regions. This report is a comprehensive analysis of recent drivers, key segments, opportunities, restraints, and major players of the market.
Factors Affecting the Market Growth
As per the report, low employee engagement and ineffective information sharing are expected to greatly fuel the growth of the employee communication software market, during the forecast period. On the other hand, towering capital investment for installation of employee communication software is likely to hamper the development of the global employee communication software market.
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Cloud-Based Development Type to be at the Forefront during the Projected Timeframe
By development type, the report categorizes the market for employee communication software into on-premise and cloud-based. Among these, the cloud-based segment is expected to grab highest share of the market by collecting revenue of $796.7 million in 2026 and growing at a healthy growth rate of 16.0% during the forecasted timeframe. This is mainly due to the flexibility, compatibility, and ease of the software, for example, this cloud type allows management team to gain access to the software through their mobiles.
Small & Medium Enterprise Segment to be Most Profitable
On the basis of end-user, the report classifies the global market into large scale and small & medium scale enterprises. The small & medium scale enterprises end-user is expected to garner $687.1 million in 2026, and grow at a CAGR of 15.5% during the forecast period. This is mainly due to growth in the importance of employee communication software attributed by the growth of SME's across the world to share information and intermingle with each other.
Healthcare Industry to Occupy Major Share of the Market
Based on industry, the global market for employee communication software is classified into BFSI, healthcare, manufacturing, IT & telecom, retail, and others. Among these, the healthcare segment was valued for $128.4 million in 2026 and is projected to grow at a CAGR of 17.1%. This growth is attributed due to the requirement of information to be shared from numerous locations to sustain the operational performance along with patient wellbeing.
Regional Breakdown of the Market
Regionally, the report evaluates the global market across North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific regionis anticipated to generate revenue of $320.4 million in 2026 and grow at a CAGR 16.7% during the projected period. This growth is mainly due to the concern for digitalization of various organizations along with the increased investments in communication software's in these regions.
Top Companies Leading the Market
The major players of the global employee communication software market are GuideSpark, Sociabble, Nudge Rewards Inc., Guide Sparke, Poppulo, Smarp, The Employee App, Social Chorus Inc., and others. These players are implementing various business strategies like mergers and acquisitions, collaborations & partnerships in order to gain a major market share in the global industry.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With the Impact Of COVID-19 https://www.researchdive.com/covid-19-insights
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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