Various businesses are happy to welcome social media within inside their premises. It has become a rage since last decade or so, especially amongst major companies in the information and technology industry. Thanks to this fact, enterprise social networking is no longer an alien term now. It focuses on shared usage of social networks for the people within an organization or with similar business interests and activities.
The software (ESS) is often used for making modifications to corporate intranets and various other conventional social networking platforms within an organization. Enterprise social networking provides numerous opportunities for modification, regularization and collaboration of all the components on intranet. Enterprise social networking market is booming with opportunities, which bring huge hope for the new entrants as well.
Enterprise Social Network Market on the Rise
ESS is fast gaining pace in the modern ecosystems of enterprise and business culture. They are one of the most user-friendly, convenient and flexible software programs to use for a large number of users. Apart from providing connectivity, enterprise social software provides numerous social sharing options. It is one of the biggest reasons for the rising trends for the enterprise social networking market across the globe. Acceptability by a variety of vertical segments across various geographies and excellent blend of traditional connectivity with social networking makes enterprise software popular amongst businesses.
The global ESS market is categorized based on the deployments and services, business verticals and service customers. While forecasting for the market, geographical demands need consideration as well. as far as the deployment is concerned, it is used as SaaS (software as a service) on demand and premise. Enterprises, small home offices and small/large businesses are basic service customers this software serves. One has to admit that enterprise social networking market is spread across many verticals including education, government, healthcare, BFSI (banking, finance and insurance), retail and telecommunication.
This great scope of application creates numerous business opportunities in the ESS market. According to the recent reports, the market is expected to grow in the same manner for the years to come. In fact, experts also claim that the industry will witness great upsurge in terms of expansion and growth in demand across the globe. According to the same reports, the Enterprise Social Networking Market is expected to maintain a CAGR of 44.9% for the next five years. It will take it to $6.18 billion at the end of 2018. The market was poised at $721.3 million in 2012.
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