Published by mark itwired
Posted on October 8, 2021
4 min readLast updated: January 30, 2026
The collaboration tools market is set to grow at an 11% CAGR by 2029, driven by unified communication, cloud solutions, and AR/VR technologies.
Unified communication and collaboration is a combination of enterprise communication tools assembled and integrated into a single management system. The collaboration tools market is expected to significantly benefit from the adoption of these tools. Unified communication and collaboration tools give seamless user experience by integrating multiple technologies and tools such as telephony calling, voice, instant messaging, desktop sharing, video and audio conferencing, and cloud architects that help people work together more effectively anywhere and on any device.
As such, the global collaboration tools market is expected to exhibit a CAGR of around 11% during the forecast period (2019-2029).
“Key players in the market can gain significant profits by providing cognitive intelligence-based collaboration tools that deliver artificial intelligence, machine learning, and deep learning capabilities, which will give a virtual team experience across multiple locations.”
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Virtual reality and augmented reality enable real-time remote collaboration experiences for enterprises. Enterprises are using these technologies to have location-based informational services. Also, QR codes give access to people and information about the company’s products or services. As distributed teams is becoming a norm across companies, VR and AR technologies are proving to be useful for communication among employees even though the employees are not present in the same place. Immersive boardroom experiences, cataloging body language, supporting avatars, and changing backgrounds are some features that AR and VR make possible. AR and VR allows multiuser capabilities where users can collaborate to work on product design and development in the digital world.
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FMI’s report on the collaboration tools market is segmented into four major sections – solution (platforms and services), deployment (on-premise and cloud), enterprise size (small & medium enterprises and large enterprises), industry (IT & Telecom, BFSI, healthcare, travel & hospitality, retail & e-Commerce, manufacturing, and others), and region, to help readers understand and evaluate the lucrative opportunities present in the collaboration tools market.
The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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The article discusses the growth of the collaboration tools market, emphasizing unified communication and cloud solutions.
AR and VR technologies are enhancing real-time remote collaboration experiences for enterprises.
Asia Pacific, excluding Japan, is expected to dominate the global collaboration tools market.
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