AI in Enterprise Communications and Collaboration: Introduction
- Enterprise communications and collaboration is a communication system for corporate employees, which includes enterprise social networking tools, collaboration platforms, a corporate intranet, and the public Internet. Artificial intelligence (AI) is already entered into the enterprise communications and collaboration area such as chatbots, for simplifying the communication and collaboration process in enterprises. At present, enterprises are shifting from on-premise enterprise communications to cloud-based communication services.
- Workflows are complex these days. Implementation of AI in enterprise communications and collaboration makes daily communication easier, improves work tasks, improves business processes, increases contact center interaction, and reduces communication complexity in any organization.
- The global AI in enterprise communications and collaboration market is projected to expand at a rapid pace during the forecast period, due to advancement in technologies across the globe.
Global AI in Enterprise Communications and Collaboration Market: Dynamics
Global AI in Enterprise Communications and Collaboration Market: Key Drivers
- Rising shift from on-premise enterprise communications to cloud-based communication services further integrates AI and incorporates it with various communication channels, thus propelling the market growth
- Increasing demand to make enterprises more informal and smarter along with automation of collaborative business workflows and procedures is estimated to boost the growth of the AI in enterprise communications and collaboration market during the forecast period. Implementation of AI and machine learning algorithms makes an enterprise a digital workplace.
- Surge in demand for smart meeting rooms and evolution of assisted intelligence in enterprises is a major factor likely to accelerate the AI in enterprise communications and collaboration market in the next few years.
- Rise in demand for better communication and interaction with the physical environment to accomplish a broad range of activities in a more efficient and informed manner across the globe is estimated to boost the growth of the AI in enterprise communications and collaboration market during the forecast period.
- Additionally, rise in adoption of cloud computing technologies among various sectors is projected to boost the demand for AI in enterprise communications and collaboration.
- Emergence of augmented and prescriptive intelligence is also expected to propel the AI in enterprise communications and collaboration market during the forecast period.
- Increasing adoption of smart technologies, distributed applications, and advent of 5G is anticipated to boost the AI in enterprise communications and collaboration market.
- Lack of awareness leading to low rate of adoption of enterprise communication solutions by small and medium enterprise is anticipated to hamper the AI in enterprise communications and collaboration market during the forecast period.
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Impact of COVID-19 on the Global AI in Enterprise Communications and Collaboration Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown and millions of employees are working from home for the first time during this pandemic. This is expected to change the conservative corporate culture. Hence, demand for better enterprise communication solutions is increasing during this pandemic and it is expected that it will continue during the forecast period. Hence, COVID-19 has a positive impact on the AI in enterprise communications and collaboration market.
- This is projected to indirectly propel the global AI in enterprise communications and collaboration market in the next few years. However, lack of industrial activity is expected to result in low cash flows, thus hampering the funding of projects.
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North America to Hold Major Share of the Global AI in Enterprise Communications and Collaboration Market
- In terms of region, the global AI in enterprise communications and collaboration market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global AI in enterprise communications and collaboration market in 2019. The U.S. is the key market in the region due to the increasing adoption of smart technologies and rapid implementation of enterprise solutions by organizations.
- The AI in enterprise communications and collaboration market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing adoption of digital technologies in the region.
Global AI in Enterprise Communications and Collaboration Market: Competition Landscape
Several local, regional, and global players are active in the AI in enterprise communications and collaboration market with a strong presence. Rapid technological advancements have created significant opportunities in the global AI in enterprise communications and collaboration market.
Key Players Operating in the Global AI in Enterprise Communications and Collaboration Market Include:
- Afiniti International Holdings Ltd.
- Amazon Web Services, Inc.
- Cisco Systems Inc.
- Google, LLC
- IBM Corporation
- Microsoft Corporation
- Salesforce.com, Inc.
- Zoom Video Communications, Inc.
- Slack Technologies, Inc.
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