Collaboration application spending grows in the face of economic uncertainty
Global spending on collaboration applications grew by 28.4% year on year in 2021, generating sales of $29.1 billion, according to a new report from IDC.
It was the fifth consecutive year the market experienced double-digit growth, with sales up $6.5 billion from IDC’s estimate of the collaboration application market last year.
Although formal work-from-home orders are no longer in place, the popularity of hybrid and remote work models has continued to prevail at companies across the globe, leading organizations to expand the use of collaboration software to more employees. In addition, the purchase and integration of multiple applications to better meet corporate needs, as well as price increases and feature upgrades, have all been identified by IDC as the key driving forces behind the growth.