Document Centric Collaboration Software Market Report 2024 (Global Edition)

Global Document Centric Collaboration Software Market Report 2024 Market Size Split by Features (Task Creation, Commenting, Real-Time Editing, Chat, Others), by Application (Residential, SMEs, Large E...

Document Centric Collaboration Software Market Report Description

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Competitive Landscape of the Document Centric Collaboration Software Market

Document-centric collaboration software is a saturated market, with numerous well-known manufacturers vying for market share. As a result, competitive rivalry is predicted to stay strong in the near to medium term. 

Document Centric Collaboration Software Industry News

In 2023, Microsoft is constantly updating its cloud-based productivity package, Microsoft 365, with new capabilities to improve document-centric collaboration. In 2022, they released features such as improved co-authoring in Word, Excel, and PowerPoint, as well as closer interaction with SharePoint for document management.

(Source: support.microsoft.com/en-gb/office/document-collaboration-and-co-authoring-ee1509b4-1f6e-401e-b04a-782d26f564a4)

In February 2023, Google Workspace, another important player in the market, released upgrades in 2022. These included enhancements to Google Docs' smart canvas, additional commenting features, and improved security.

(Source: https://workspaceupdates.googleblog.com/2022/02/new-smart-canvas-features-in-google-docs.html)

Top Companies Market Share in Document Centric Collaboration Software Industry: (In no particular order of Rank)

• IBM
• Microsoft
• OpenText
• Dell
• 5i Solutions
• Accellion
• Alfresco Software
• Box
• CIGNEX Datamatics
• Huddle
• Intralinks
• Newgen Software
• Savvydox
• SpringCM
• Workshare
• Xait
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Document Centric Collaboration Software Market

Which Region will dominate the Document Centric Collaboration Software Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. This is due to the growing need for digital collaboration tools among firms of all sizes. The region is home to some of the world's largest technology businesses, which are fueling the adoption of these technologies. Furthermore, the region's high population of tech-savvy customers is pushing up demand for these products. The region's strong economic growth and rising disposable incomes are also helping to drive market expansion.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is witnessing an increase in sales. This is attributable to an increase in demand for digital collaboration tools among regional enterprises. The demand for effective document sharing and collaboration is driving market expansion. The growing acceptance of cloud-based solutions is also propelling the industry forward. Cloud-based solutions allow businesses to access documents from anywhere at any time.

The current report Scope analyzes Document Centric Collaboration Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Document Centric Collaboration Software Market

According to Cognitive Market Research, the global document centric collaboration software market size was estimated at USD 2251.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 900.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031. In North America, document centric collaboration software sales dominate. This is a result of companies of all sizes placing an increasing reliance on digital collaboration solutions. The adoption of these technologies is being propelled by some of the biggest technological businesses in the world, which are based in the region. In addition, the demand for these products is being driven by the region's vast population of tech-savvy consumers. The market is expanding as a result of the region's robust economic growth and rising disposable incomes. The development of new technologies and applications is also being fueled by the region's abundance of universities and research facilities, which is raising demand for these instruments. The cloud deployment segment in North America is intricately tied to the expanding document centric collaboration software market. This is because cloud-based solutions spare organizations from having to pay for software and hardware upfront. Furthermore, cloud-based solutions are easily scalable, meeting the demands of an expanding company.

• According to Cognitive Market Research, the US had a major share in the document centric collaboration software market with a market size of USD 710.48 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. The United States is a center for technical innovation, home to a sizable number of companies that are among the first to use innovations. Due to this, there is a high demand for document-centric collaboration tools that can boost production and efficiency for companies. 
• The Canada document centric collaboration software market had a market share of USD 108.06 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. A variety of regulations that the Canadian government has put in place mandate that businesses retain certain papers for a predetermined amount of time. Businesses can adhere to these rules by using document-centric collaboration software, which offers a centralized and secure store for documents.
• The Mexico document centric collaboration software market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 81.94 million in 2024.

 

Europe Document Centric Collaboration Software Market

According to Cognitive Market Research, with a market value of USD 2251.2 million in 2024, and projected to expand at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 675.36 million. This is because there is a growing need for digital transformation and better corporate collaboration. The number of remote workers in the area is also rising, which is increasing the demand for more effective collaboration tools. The growing use of cloud-based solutions, which are giving companies more affordable and secure collaboration options, is also helping the European market.

The surge in cloud deployment sales across Europe is intimately linked to the burgeoning document centric collaboration software market. Document-centric collaboration software will be essential to an organization's success as it looks to enhance collaboration and information sharing while embracing cloud-based solutions.

• The United Kingdom document centric collaboration software market had a market share of USD 113.46 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. Following the UK's exit from the EU, companies now need to develop new ways to work with partners and clients around the continent. Businesses can accomplish this by using document-centric collaboration software, which offers a safe and effective platform for document sharing.
• The France document centric collaboration software market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 62.13 million in 2024.
• According to Cognitive Market Research, the Germany document centric collaboration software market size was valued at USD 133.72 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. Germany is home to some of the world's tightest laws protecting data privacy, including the General Data Protection Regulation (GDPR). This is increasing the need for compliance-compliant, document-centric collaborative software.
• The Italy document centric collaboration software market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 58.08 million in 2024.
• The Russia document centric collaboration software market is projected to witness growth at a CAGR of 6.5% during the forecast period with a market size of USD 104.68 million in 2024.
• The Spain document centric collaboration software market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 55.38 million in 2024.
• The Luxembourg document centric collaboration software market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 20.94 million in 2024.
• The Portugal document centric collaboration software market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 14.18 million in 2024.
• The Greece document centric collaboration software market is projected to witness growth at a CAGR of 7.8% during the forecast period with a market size of USD 8.10 million in 2024.
• The rest of Europe document centric collaboration software market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 104.68 million in 2024.

 

Asia Pacific Document Centric Collaboration Software Market

According to Cognitive Market Research, the global document centric collaboration software market size was estimated at USD 2251.2Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 517.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031. The Asia Pacific region is experiencing growth. This is a result of the local businesses' growing need for digital collaboration tools. This industry is expanding because of the demand for effective document sharing and teamwork. The market is expanding as a result of the growing use of cloud-based solutions. The rising demand for document centric collaboration software in the Asia Pacific finds a pivotal ally in the growing preference for cloud deployment. With its many benefits over on-premises solutions, including the ability to flexibly scale up or down to meet the demands of a growing firm, cloud-based document-centric collaboration software is especially well-suited for the APAC market.

• According to Cognitive Market Research, the China document centric collaboration software market size was valued at USD 233.0 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. Document centric collaboration digitization is happening quickly in China as more and more companies are shifting their operations online. The need for document-centric collaboration software, which may boost productivity and efficiency for enterprises, is being driven by this.
• The Japan document centric collaboration software market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 71.45 million in 2024.
• The India document centric collaboration software market had a market share of USD 62.13 million in 2024 and is projected to grow at a CAGR of 12.8% during the forecast period. Teams can collaborate in real-time on documents by using document-centric collaboration tools. Features including document editing, annotation, version control, and safe sharing are offered by this software. It enhances team productivity, efficiency, and communication in the global pharmaceutical industry.
• The South Korea document centric collaboration software market is projected to witness growth at a CAGR of 10.01% during the forecast period with a market size of USD 51.78 million in 2024.
• The Australia document centric collaboration software market is projected to witness growth at a CAGR of 10.7% during the forecast period with a market size of USD 26.92 million in 2024.
• The South East Asia document centric collaboration software market is projected to witness growth at a CAGR of 12.0% during the forecast period with a market size of USD 35.73 million in 2024.
• The Rest of Asia Pacific document centric collaboration software market is projected to witness growth at a CAGR of 10.08% during the forecast period with a market size of USD 36.76 million in 2024.

South America Document Centric Collaboration Software Market

According to Cognitive Market Research, the global document centric collaboration software market size was estimated at USD 2251.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 112.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031. Document centric collaboration software sales in Latin America are experiencing growth due to organizations' need to interact more effectively, and there is a growing desire for digital transformation. The need for document-centric collaboration software is being driven by the rise in small and medium-sized businesses in the region. The upswing in cloud deployment across Latin America is closely tied to the expanding document centric collaboration software market. Software for document-centric collaboration that is hosted in the cloud is less expensive and simpler to set up than on-premise options. Because of this, businesses of all sizes in Latin America are finding it to be a more appealing option.

• According to Cognitive Market Research, the Brazil document centric collaboration software market size was valued at USD 48.18 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Document centric collaboration in Brazil, the utilization of remote work arrangements has increased due to the COVID-19 epidemic. A growing need for document-centric collaboration software—which enables workers to collaborate on documents even when they are not in the same physical location—has resulted from this.
• The Argentina document centric collaboration software market had a market share of USD 18.91 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. The demand is augmented by Argentina's commitment to sustainable farming practices, where document centric collaboration software. 
• The Colombia document centric collaboration software market is projected to witness growth at a CAGR of 8.2% during the forecast period with a market size of USD 10.02 million in 2024.
• The Peru document centric collaboration software market is projected to witness growth at a CAGR of 8.6% during the forecast period with a market size of USD 9.23 million in 2024.
• The Chile document centric collaboration software market is projected to witness growth at a CAGR of 8.7% during the forecast period with a market size of USD 8.10 million in 2024.
• The Rest of Latin America document centric collaboration software market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 18.12 million in 2024.

Middle East and Africa Document Centric Collaboration Software Market

According to Cognitive Market Research, the global document centric collaboration software market size was estimated at USD 2251.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 45.02 million in 2024. It will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031. MEA experiences an upswing in document-centric collaboration software sales driven by firms in the region that have to work together more efficiently, and there is a growing demand for digital transformation. The market is expanding as a result of both the region's expanding business community and population. Cloud deployment is experiencing significant growth in the region, with the growing usage of cloud-based applications: Document-centric collaboration software that is hosted in the cloud has a number of benefits over on-premises options, including deployment simplicity, scalability, and accessibility. Organizations in the MEA area are especially drawn to these benefits because they frequently search for methods to cut IT expenses while increasing productivity.

• According to Cognitive Market Research, the GCC Countries document centric collaboration software market size was valued at USD 19.27 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. Document-centric collaboration software is becoming more and more popular as a result of the governments of the GCC countries making more investments in digital transformation projects. The "Smart Pass" plan of the UAE government, for example, intends to make the government paperless by 2021, which is anticipated to increase demand for document-centric collaborative software.
• The Egypt document centric collaboration software market is projected to witness growth at a CAGR of 9.0% during the forecast period with a market size of USD 4.73 million in 2024.
• The South Africa document centric collaboration software market is projected to witness growth at a CAGR of 9.7% during the forecast period with a market size of USD 7.11 million in 2024. Document-centric collaboration software sales flourish in South Africa due to the number of people working remotely or from flexible locations rising as the workforce becomes more mobile. 
• Turkey document centric collaboration software market is projected to witness growth at a CAGR of 7.4% during the forecast period with a market size of USD 25.15 million in 2024.
• The Nigeria document centric collaboration software market is projected to witness growth at a CAGR of 7.8% during the forecast period with a market size of USD 4.73 million in 2024.
• The Rest of the MEA document centric collaboration software market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 5.31 million in 2024.

 

Document Centric Collaboration Software Market Analysis

Document Centric Collaboration Software Features Segment Analysis

According to Cognitive Market Research, real-time editing held the major market share over the forecast period. Among document-centric collaboration software's most crucial functions is real-time editing. Users are able to view modifications made to a document by other users as they are made. Team members' ability to collaborate and communicate with one another may benefit from this.

Task creation is the fastest-growing category over the forecast period. Task assignment, tracking, and management have become more critical as teams grow more dispersed and projects get more complicated. Features like generating tasks, allocating them to team members, establishing due dates, and monitoring advancement are included in this section. It guarantees timely project completion, increases productivity, and keeps teams organized.

• Task Creation
• Commenting
• Real-Time Editing
• Chat
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Document Centric Collaboration Software Industry. Request a Free Sample PDF!

Document Centric Collaboration Software Application Segment Analysis

According to Cognitive Market Research, large enterprise holds a prominent market share. Large enterprises need the most robust document-centric collaboration software solutions due to their complicated needs. Numerous features, including enterprise document management (ECM), electronic signature capabilities, and interaction with other corporate apps, are frequently included in these packages. For large businesses, document-centric collaboration software solutions like IBM Filenet, Microsoft SharePoint, and OpenText Content Suite are popular choices.

SMEs are the fastest-growing category over the forecast period. Due to their ease of deployment and management compared to on-premise solutions, SMEs are rapidly embracing cloud-based solutions. In order to abide by rules and safeguard their data, SMEs are also under pressure to enhance their document management and security. Additionally, document-centric collaboration software can assist SMEs in fostering better staff collaboration and communication, which can boost output.

• Residential
• SMEs
• Large Enterprise

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Document Centric Collaboration Software Pricing Segment Analysis

According to Cognitive Market Research, annual subscription holds a prominent market share. The most common payment option for document-centric collaborative software is an annual subscription. They provide access to the newest features and updates while providing businesses with predictable rates. In order to accommodate the demands of companies of all sizes, many suppliers also provide tier-based subscription plans with varying functionality and storage capabilities.

The monthly subscription is the fastest-growing category over the forecast period. This is due to the fact that it enables companies to pay for the program on a monthly, per-user basis. For companies of all sizes, this makes it a cost-effective and adaptable choice. 

• Monthly Subscription
• Quarterly Subscription
• Annual Subscription

Document Centric Collaboration Software Deployment Segment Analysis

According to Cognitive Market Research, the cloud holds a prominent market share. Cloud-based: Without requiring the purchase of specialized gear or software, cloud-based document-centric collaboration software gives enterprises the scalability, affordability, and ease of a cloud-hosted infrastructure. A cloud-based solution can offer businesses more control over versions, data sharing, and real-time collaboration in addition to a dependable and safe platform for storing data. Businesses can use this to encourage cooperation amongst partners and coworkers both inside and outside the organization. 

On-premise is the fastest-growing category over the forecast period. Businesses have more control over the security of their documents when they use self-hosted on-premises document-centric collaboration software. With on-premises solutions, businesses can configure their system to function as an internal environment, storing and accessing files and data safely within their network. By removing the requirement for external cloud storage and document control, this solution gives businesses more flexibility and personalization.

• Cloud
• On-Premise
• Hybrid

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion