Visual Collaboration Platform Software Market Seen Soaring 12.9% Growth to Reach l USD 22.5 Billion by 2030, Projects Univdatos Market Insights

The Visual Collaboration Platform Software Market was valued at 8.1 billion in 2022 and is expected to grow at a steady rate of around 12.9% in the forecasted period (2023-2030). A visual collaboration platform is a type of software that enables remote teams to collaborate and communicate effectively through various media types, including video conferencing, screen sharing, and file sharing. This allows teams to work together virtually, regardless of their location, and helps to facilitate more efficient communication and productivity. Some key drivers of the growth of the visual collaboration platform software market include the rise of remote work, the need for virtual team collaboration, and the increasing adoption of digital technologies across industries. As more companies adopt remote work policies and look for ways to improve team collaboration, the demand for visual collaboration platform software is expected to increase.

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Additionally, advancements in technology have led to the development of more sophisticated and feature-rich visual collaboration platform software, which has further fueled the growth of this market. For example, some platforms now offer advanced features such as augmented reality (AR) and mixed reality (MR), which enable teams to collaborate in immersive environments.

Some of the recent launches are:

· In Nov 2022, Microsoft announced the general availability of Microsoft Teams Premium, which includes additional features such as intelligent recruiting capabilities using AI-powered search functionality and automated candidate matching powered by LinkedIn. This expansion aims to address specific pain points faced by hiring teams in large organizations.

· In Oct 2023, Zoom Video Communications partnered with Amazon Web Services Inc. (AWS) to provide seamless integration between its video conferencing platform and AWS Chime, an internet phone system. Users can leverage Zoom’s reliable audio and video quality while benefiting from AWS’ secure infrastructure.

· In Sep 2023, Google unveiled Google Workspace (formerly G Suite), a set of productivity applications including Drive for file storage, Docs, Sheets, Slides, and Drawings. These tools enhance teamwork by providing real-time commenting, brainstorming, and co-authoring functionalities. In addition, Google Meet is available for video meetings up to 50 participants.

· In Nov 2023, Cisco Systems completed its acquisition of BabbleLabs, a privately held company that specializes in speech and conversation analytics. The acquisition aids Cisco in enhancing its Webex portfolio by integrating BabbleLabs’ technology into Cisco’s existing web conferencing platforms. This move helps businesses gain valuable insights into their virtual meetings and optimize their collaboration strategies accordingly.

· In Oct 2023, Slack Technologies formed a partnership with Atlassian Corporation Plc., allowing users to integrate Atlassian’s project management software suite into Slack channels seamlessly. As a result, developers can now communicate more effectively regarding projects without switching between apps frequently. Additionally, this integration enables users to send messages directly from Atlassian’s Jira, Confluence, Bitbucket, or Trello products straight into Slack channels.

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Conclusion

Based on recent research and announcements: With new releases like Microsoft Teams Premium, Google Workspace, and Zoom Video Communications’ partnership with AWS, these innovative solutions are helping teams collaborate more efficiently than ever before. According to the UnivDatos Market Insights analysis, “Visual Collaboration Platform Software Market” report, the global market was valued at USD 8.1 Billion in 2022, growing at a CAGR of 12.9% during the forecast period from 2023 – 2030 to reach USD XX billion by 2030.