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PUNE, India, May 3, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports titled,
by Deployments (On-premise and Cloud-Based), Software (Communication & Coordination and Conferencing), Applications (IT & Telecom, Retail, BFSI, Manufacturing, Healthcare, Logistics & Transportation, and Education), and Region: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 9.3 billion in 2020 and is expected to reach USD 24.02 billion by 2028, expanding at a CAGR of 12.4 % during the forecast period, 2021 – 2028. The growth of the market is attributed to rising need for visual data exchange and digitization.
Team collaboration software uses various types of software and online services available in the company and allows the employees to work together on mutual projects, irrespective of their location. The main aim of team collaboration software is to assign workers in a team and achieve a common goal.