Messaging Services for Corporates
To determine the market size of corporate collaboration software, the total number of corporate messenger/collaboration services available globally, the key players, recent investments in the space as well as current business models prevalent in the industry.
- Collaboration software, which are tools used by businesses to communicate both internally and externally, is expected to generate about $12 billion in 2020.
- Slack, a key player in the collaboration software space, expects to generate revenue totaling $621 million for FY 2020. Slack Technologies recently reported that its userbase had surpassed 12 million daily active users. The service is mostly preferred by startup companies.
- Facebook's office collaboration offering, Workplace, was introduced in 2015. Similar to Microsoft Teams, Workplace does not operate as an independent entity. Therefore, its total revenue is not publicly available. However, the service recently announced that it had reached 5 million paying users.
- The service charges $4 for its least paid offering per user per month, suggesting that the Workplace service generates about $240 million per annum (i.e., 5 million users * $4 * 12 months).
Summary of Findings
Our initial research suggests that the total number of corporate messenger/collaboration services available globally is unknown, as the industry is still evolving and growing. However, there are few notable leaders such as Slack, Workspace, and MS Teams.
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