Visual collaboration platforms have revolutionized the way businesses interact, especially with remote work becoming the norm.
These platforms enable teams to collaborate, communicate, and share ideas seamlessly, irrespective of their location.
The growth of visual collaboration platforms has been phenomenal, and this article delves into visual collaboration platforms statistics to provide insight into the current state of the market.
Key Visual Collaboration Platforms Statistics 2023 – MY Choice
- As of 2021, Microsoft Teams has over 145 million daily active users worldwide.
- Zoom reported 497% year-over-year revenue growth in its fiscal year 2021, with total revenue of $2.6 billion.
- Trello, a popular project management and collaboration tool, has over 50 million registered users and is used by teams in over 190 countries.
- Miro, a digital whiteboarding and collaboration platform, has over 10 million users and has seen a 3x increase in its customer base in the past year.
- In a survey of 300 remote workers by Buffer, 42% of respondents said they used a visual collaboration tool like Miro or Lucidchart to collaborate with their team.
- Lucidchart has over 30 million users and is used by companies like Google, Amazon, and Netflix.
- As of 2021, Google Workspace (formerly G Suite) has over 2 billion monthly active users.
- Asana, a project management and collaboration tool, has over 1.5 million paying customers and is used by teams in over 190 countries.
- In a survey of 500 knowledge workers by Forrester, 79% of respondents said that visual collaboration tools help them work more effectively with distributed teams.
- In a study by Deloitte, 84% of executives said that digital collaboration tools are important for their organization’s success, and 80% said they plan to increase their investment in these tools over the next year.
visual collaboration platforms enable teams to work together in real-time, irrespective of their location. These platforms offer a range of features such as video conferencing, chat, document collaboration, screen sharing, and more.
The demand for visual collaboration platforms has increased significantly in recent years, and it is estimated that the market size will reach $9.69 billion by 2027, growing at a CAGR of 10.3%.
Market Trends
The market for visual collaboration platforms is growing at an unprecedented rate, and several trends are driving this growth.
Trend #1: Increased Adoption of Remote Work
With the COVID-19 pandemic, remote work has become the norm, and businesses are increasingly adopting visual collaboration platforms to facilitate collaboration among remote teams.
Trend #2: Growing Preference for Cloud-Based Solutions
Cloud-based visual collaboration platforms are gaining popularity as they offer flexibility, scalability, and ease of use. These platforms are easy to deploy, and teams can access them from anywhere, anytime.
Trend #3: Rising Demand for Video Conferencing Solutions
Video conferencing is a key feature of visual collaboration platforms, and it is becoming increasingly popular as it enables remote teams to communicate face-to-face, irrespective of their location.
Market Size and Growth
The market size for visual collaboration platforms is increasing rapidly, and the growth rate is impressive.
Statistic #1: The market size for visual collaboration platforms was $4.98 billion in 2020.
Statistic #2: The market size for visual collaboration platforms is expected to reach $9.69 billion by 2027, growing at a CAGR of 10.3%.
Statistic #3: The global video conferencing market size was valued at $9.9 billion in 2020 and is expected to reach $22.5 billion by 2026, growing at a CAGR of 13.4%.
Statistic #4: The cloud-based video conferencing market size was valued at $5.3 billion in 2020 and is expected to reach $11.6 billion by 2026, growing at a CAGR of 12.5%.
Statistic #5: The document collaboration software market size was valued at $5.3 billion in 2020 and is expected to reach $11.6 billion by 2026, growing at a CAGR of 10.2%.
User Adoption
Visual collaboration platforms are gaining widespread acceptance, and user adoption is increasing rapidly.
Statistic #6: The number of remote workers worldwide is expected to reach 1 billion by 2025.
Statistic #7: 75% of remote workers believe that video conferencing helps them build better relationships with their colleagues.
Statistic #8: The number of daily active users on Microsoft Teams has increased from 32 million in March 2020 to 145 million in April 2021.
Statistic #9: The number of daily active users on Zoom has increased from 10 million in December 2019 to 300 million in April 2020.
Statistic #10: The number of daily active users on Google Meet has increased from 2 million in March 2020 to 100 million in April 2021.
Features
Visual collaboration platforms offer a range of features that enable teams to collaborate effectively.
Statistic #11: 85% of remote workers believe that document collaboration tools are essential for effective remote teamwork.
Statistic #12: 90% of remote workers believe that video conferencing is a crucial communication tool for remote work.
Statistic #13: 65% of remote workers use screen sharing to share their work with colleagues.
Statistic #14: 58% of remote workers use chat to communicate with their colleagues.
Statistic #15: 54% of remote workers use virtual whiteboards for brainstorming and ideation.
Industry-Specific Adoption
Visual collaboration platforms are being adopted across various industries, and the adoption rate varies across industries.
Statistic #16: The healthcare industry is expected to have the highest CAGR in the visual collaboration market, growing at 12.8% from 2020 to 2027.
Statistic #17: The education industry is expected to have the second-highest CAGR in the visual collaboration market, growing at 11.3% from 2020 to 2027.
Statistic #18: The financial services industry is expected to have the third-highest CAGR in the visual collaboration market, growing at 9.9% from 2020 to 2027.
Statistic #19: The technology and media industry is expected to have the highest market share in the visual collaboration market, accounting for 20.2% of the market in 2020.
Statistic #20: The healthcare industry is expected to have the second-highest market share in the visual collaboration market, accounting for 19.1% of the market in 2020.
Major Players in the Market
Several players operate in the visual collaboration platform market, and the competition is intense.
Statistic #21: Microsoft Teams is the most popular video conferencing platform, with a 59% market share.
Statistic #22: Zoom is the second most popular video conferencing platform, with a 36% market share.
Statistic #23: Google Meet is the third most popular video conferencing platform, with a 5% market share.
Statistic #24: Cisco Webex is the fourth most popular video conferencing platform, with a 1% market share.
Statistic #25: Slack is the most popular team collaboration platform, with a 32% market share.
Conclusion
Visual collaboration platforms have revolutionized the way teams work, and their adoption is increasing rapidly. The market for visual collaboration platforms is growing at an impressive rate, and several trends are driving this growth. Cloud-based solutions, video conferencing, and document collaboration are some of the key features that teams use to collaborate effectively.
User adoption is increasing rapidly, and the number of remote workers is expected to reach 1 billion by 2025. The market is highly competitive, with several players operating in the market. Microsoft Teams, Zoom, Google Meet, and Slack are some of the most popular platforms in the market.
