Monday, 31 August 2020 22:53

Australia’s spending on communications & collaboration software on growth path


Communications and collaboration software market spending in Australia is forecast to grow 20% year-on-year in 2020 amidst the COVID-19 crisis, bucking the trend of a decline in spending on most of the country’s ICT solutions.

According to analytics firm GlobalData’s revised market opportunity forecasts for enterprise ICT in Australia the communications and collaboration software market size in Australia will reach US$621million by end of 2020, which is about 1.1% more than what it was estimated for, before the COVID-19 outbreak.

“With the COVID-19 pandemic compelling businesses and government offices to embrace new ways of communication and collaboration, and accelerating their shift towards remote working to ensure business continuity, the adoption of communication and collaboration software has increased across enterprises in the country,” says Nidhi Gupta, Technology Analyst at GlobalData.

According to GlbalData, enterprise social networking and collaboration platforms, which enable employees to collaborate remotely through features like instant messaging, video and audio conferencing, virtual workspaces, and screen/application sharing, are especially gaining traction, and will see its revenue grow Y-o-Y by 29% in 2020.

The analytics firm says that revenue from communication platforms, including cloud-based communication software will grow by 6% in 2020 compared to its baseline growth forecast of 3% for the year.

And, after registering a “robust” Y-o-Y revenue growth in 2020, communications and collaboration software market in Australia will maintain its momentum and register a CAGR of 13.8% over the forecast period 2019-2024.

“While SMEs will remain the largest revenue contributing segment for communication and collaboration software market in Australia through the forecast period, given the long-term digital transformation strategies, large enterprises will represent the fastest growing market segment,” Gupta concludes.

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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