Enterprise 2.0 Technologies Market Expected to Reach $223.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Enterprise 2.0 Technologies Market," The enterprise 2.0 technologies market was valued at $22.6 billion in 2021, and is estimated to reach $223.3 billion by 2031, growing at a CAGR of 26% from 2022 to 2031.

Enterprise 2.0 is termed as the as the strategic integration of technology related to Web 2.0 into the intranet, extranet and in business processes of the enterprise. Enterprise 2.0 implementations in general use a combination of the social software and collaborative technologies for various example blogs, RSS, social bookmarking, social networking and wikis. Most of the enterprise 2.0 technologies, whether homegrown, free or purchased, emphasize employee, partner and consumer collaboration. Such technologies may be web based or in-house.

Furthermore, the rise in awareness about benefits of enterprise 2.0 and the rising penetration of smartphones and the internet boost the growth of the global enterprise 2.0 technologies market. In addition, increasing trends in online shopping positively impact the growth of the market. However, the risk of security incidents on networks and lack of technical proficiency, and lack of awareness hampers the enterprise 2.0 technologies market growth. On the contrary, the increase in technological advancement is expected to offer remunerative opportunities for expansion during the enterprise 2.0 technologies market forecast

Depending on enterprise size, the large enterprise segment holds the largest enterprise 2.0 technologies market share as large enterprises are adopting enterprise 2.0 technologies to protect all their infrastructures. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to increase adoption of cloud computing in the past few years.

Region-wise, the enterprise 2.0 technologies market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, large scale adoption of IoT and cloud services. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.

The COVID-19 outbreak negatively impacts the growth of the market, the industry is expected to recover by the third quarter of 2022. This is attributed to significant investment in advanced technologies such as IoT and smart technologies and various government initiatives, such as smart cities, across Asia-Pacific countries, including China and India. Furthermore, adopting technologies such as cloud, Artificial Intelligence (AI), and IoT. With the considerable control achieved over the pandemic, various sectors such as retail, manufacturing, and automotive, are expected to witness rising investments as enterprise 2.0 technologies solutions grow in prominence across different business functions offered several opportunities to digitize and expand the business across regions. Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and cybersecurity framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global enterprise 2.0 technologies industry.

KEY FINDINGS OF THE STUDY

• By platform type, the wikis enterprise 2.0 technologies segment accounted for the largest enterprise 2.0 technologies market share in 2021.
• Region wise, North America generated highest revenue in 2021.
• Depending on enterprise size, the large enterprise generated the highest revenue in 2021.

The key players profiled in the enterprise 2.0 technologies market analysis are are Accenture, Capgemni SE, Cisco Systems Inc, Fujitsu, Cognizant, Delloite, IBM Corporation, Infosys, Tata Consultancy services, Tech Mahindra Limited, Oracle Software, HCL Technology, Tesco Controls, Burrow Global, INTECH, Crystalloids Inc, and Mangrovia Blockchain Solutions. These players have adopted various strategies to increase their market penetration and strengthen their position in the enterprise 2.0 technologies industry.