Instant Messaging Software Market size was valued $49.4 billion in 2019, estimated to grow at a CAGR of 7.1% during 2020-2025. The growing need for advanced messaging software in large, small and medium enterprises is fuelling the demand for instant messaging software. Furthermore, the rising need for real-time messaging solutions and enterprise messaging offering such as security compliant implementations, inbox and contact synchronization, administrative capabilities and other versatile solutions leading to efficient peer-to-peer communication will drive the instant messaging software market during the forecast period.
- In 2019, the instant messaging software market was dominated by North America owing to increasing adoption of connected mobile devices and the presence of key players including Facebook, Genesys and so on.
- The deployment of collaborative advanced tools such as file sharing, screen sharing, group chatting and others are further enhancing the growth of the instant messaging software market
- Moreover, the implementation of handy instant messaging software in large enterprises, and the growing demand for increasing productivity and building customer-employee relationships in enterprises are leading upsurge the market’s growth..
- The major drawback that is hampering the growth of the market is the risk associated with the file sharing such as leading to malware attack, device loss, sending and receiving of corrupted files and so on.
Application – Segment Analysis
Large Enterprises segment held the largest market share in the instant messaging software market in 2019. The demand for instant messaging software is highly enhancing in enterprises which are large in size and have employees located in various location as it helps them to easily connect through messaging software. Moreover, businesses are highly preferring top use this type of advanced communication software, as it helps to build employee-customer relationships and also helps to ensure that all the employees are on the same page. Furthermore, the deployment of handy instant messaging software has also led to the fueling of the company’s productivity, and with the collaboration of tools such as file sharing, screen sharing has further implemented the use of instant messaging software in large enterprises.
Geography – Segment Analysis
In 2019, North America dominated the Instant Messaging Software market with a share of more than 38.5%, followed by APAC and Europe. The growing demand for advanced messaging software in the US is growing significantly which is leading to the growth of the market in this region. Also, the presence of key players such as Facebook, Genesys, Skype, Salesforce and so on are also leading to the major factors fueling the growth of this market in the US. According to Cellular Telecommunications Industry Association, in 2018 Americans connected more than 21.5 million devices which resulted in a total of 421.7 million devices. Thus, the growth in the usage of connected mobile devices in the US will lead to propel the growth of the instant messaging software market in this North America. email@example.com
Drivers – Instant Messaging Software Market
- Increasing need for real-time messaging solution
The increasing need for real-time messaging solution in businesses is highly growing. Moreover, the need to connect with the employees who are based in other locations in real-time has enhanced the demand for instant messaging software. Also, in the recent periods due to the rising effect of coronavirus has also resulted in the need for real-time messaging solution in order to businesses work accurately. This key factors will drive the demand for instant messaging software market.
- Rising demand for Collaboration of tools
The growing adoption of chat as the primary form of digital communication along with the collaboration of effective tools such as video conferencing, lead generating, appointment creation and so on will further enhance instant messaging software. Moreover, every kind of collaborative effort, whether small group projects or large professional teams, is becoming flexible through features such as group chatting, which allow people to remain on the same page easily and participate more effectively. Also, the growing demand for collaborative whiteboards and documents, file sharing, screen sharing and others will further upsurge the instant messaging software market in the recent years.
Challenges – Instant Messaging Software Market
- Risk associated with large files
Instant messaging software is regarded as the most beneficial tool for large, small and medium enterprises. But the key challenge which is hampering the usage of these type of software is the handling of data. As, volume of data which are shared through instant apps are quite large, and moreover leads to risks which results in data leakage. Also, the sharing of large through these apps leads to receiving of corrupted files with insecure data, malware attack, device loss and so on.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Instant Messaging Software market. In 2019, the market of Instant Messaging Software has been consolidated by the top ten players – Liscio, Mirrorfly, Skype, Genesys, Salesforce, Zoho, Twist, Zendesk, Facebook and Freshchat