2021 Employee Communication Software Market Current Growth Developments with 11.8% of CAGR by 2027

2021 Employee Communication Software Market Current Growth Developments with 11.8% of CAGR by 2027

The Insight Partners
According to the latest research report titled “Employee Communication Software Market Forecast to 2027 – COVID-19 Impact and Analysis – by Deployment Type (On-Premise and Cloud), Enterprise Size (SMEs and Large Enterprises), and Industry (BFSI, Manufacturing, Retail, Healthcare, IT and Telecom, and Other Industries)” published by The Insight Partners, the market is expected to reach US$ 1,780.09 million by 2027, registering a CAGR of 11.8% from 2020 to 2027.

The research report by The Insight Partners, titled, “Employee Communication Software Market”, offers a comprehensive analysis of key growth drivers, key segments, development strategies, market opportunities, and competitive landscape. This study offers detailed insights for market players, investors, stakeholders, and new entrants to understand the industry dynamics and determine strategic steps to gain a competitive advantage.

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Impact of COVID–19 Pandemic on North America Employee Communication Software Market

In 2019, North America led the employee communication software market in terms of revenue share and it is anticipated to hold a substantial share during the forecast period of 2020 to 2027. The region is characterized by the presence of developed nations such as the US and Canada, where the adoption of advanced technology/communication solutions, mobile applications, and digital services is quite high owing to the huge presence of key technology and internal communication software companies, consumer electronics manufacturers, cloud service providers, and tech-savvy population. Presently, in terms of COVID-19 outbreak, the US is the world’s and North America’s worst-affected country, and the economic and industry growth has negatively affected the country. However, to continue daily operations and key business activities, remote working has been adopted by major companies operating in this region. With this development, the demand for secure and advanced employee communication solutions to ensure proper communication and high productivity with continuous employee engagement is growing at an impressive pace over the past few months. Hence, the demand for employee communication platforms among enterprises is rising in a positive manner and COVID-19 has had a positive impact on the market growth.

Key Findings of Study:

Employee communication platforms are one-stop communication solutions for enterprises that help them boost internal communications, engage employees, and improve overall business communication. These platforms can also be personalized as per customer requirements to deliver targeted communication across business units, branches, and departments and enable a digital workplace by including both office workforce and mobile/deskless workforce. Presently, the employee communication software market is primarily dominated by large enterprises in terms of revenue share due to their large-scale operations and high adoption of such solutions in developed regions such as Europe and North America. In addition, large enterprises are the ones driving the trend of digital transformation in workplaces and on-field to improve overall operational efficiency and enhance employee engagement. Moreover, the rising penetration of digital solutions, cloud computing, and mobile-first communication platforms among small & medium sized enterprises (SMEs) is anticipated to drive the growth of employee communication software market during the forecast period. SMEs are in the growth stage of adopting advanced and effective employee communication solutions by replacing the traditional company intranet and other broad functionality software solutions. Moreover, with growing adoption and popularity of cloud-based employee communication software solutions, SMEs now have an option to invest in effective employee communication software due to cost benefits and easy integration offered by cloud-based solutions. Thus, the rising penetration of digital solutions among SMEs for improving business communication, enhancing operational productivity, and reducing costs are among the major factors that are projected to offer growth opportunities for market players during the forecast period. A few companies operating in the employee communication software market are Beekeeper AG; Nudge Corporation; Poppulo (E-Search DAC); Simpplr Inc.; Smarp Oy; SnapComms; Sociabble, Inc.; Staffbase; theEMPLOYEEapp; and Workvivo Limited.

The overall size of the employee communication software market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the employee communication software market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts, and key opinion leaders, specializing in the employee communication software market. Beekeeper AG; Nudge Corporation; Poppulo (E-Search DAC); Simpplr Inc.; Smarp Oy; SnapComms; Sociabble, Inc.; Staffbase; theEMPLOYEEapp; and Workvivo Limited are among the players profiled during this market study.

Market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The market players present in the market are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings. Most market initiatives were observed in Europe and North America, which has a high growth potential for employee communication software market providers. Few of the important market initiatives from the industry are mentioned below:

2020– Staffbase acquired teambay. The addition of teambay closes the loop for internal comms and drive engagement at the same time.               

2020– SnapComms Inc. launched an update for its platform. It includes an expansive message library, new emergency alerts for high-priority events, and updates on the create content page that delivers better and faster content.    

2020– Staffbase opened a new office in Dresden. The expansion of the new office helps the company drive business growth and the presence of the company across the region.

2020– Nudge Corporation launched a frontline activation suite of features designed to activate dormant frontline workforces. Nudge helps to navigate four key recovery stages, including field execution, recruitment, onboarding, and sustained performance, that advance existing benchmarks for employee engagement        

2019– Smarp Oy introduced a new feature, Groups. Groups allow to manage and divide platform based on department, geography. This enables the admin to control different areas from one centralized location          

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