Enterprise engagement platforms are used in order to improve productivity and engagement of employees. The platform widely implements elements and mechanisms of engagement in the work environment by defining conditions and rules for games, and achievements. In addition to it, enterprise engagement platforms help motivate business partners and employees through appealing storytelling, virtual rewards, and educating on portfolio and services by a fact- or knowledge-based plugin. Besides this, both knowledge acquiring and knowledge sharing are essential aspects of strengthening the involvement of employees. Enterprise engagement platforms help know ideas and opinions of business partners and employees and build a worldwide community. It also creates an environment for employees with motivation, which is employed to develop creativity among employees to increase their efficiency and potential to resolve issues.
Increase in motivation and commitment of employees to achieve timely completion of tasks for enterprise development and customer satisfaction is projected to fuel the enterprise engagement platform market during the forecast period. Rise in the demand for high-quality trainings for business partners and employees is a key factor driving the global enterprise engagement platform market. Growth of large enterprises led by increase in their sales revenues is expected to boost the global enterprise engagement platform market from 2019 to 2027.
Rising demand for achieving high customer satisfaction with effective communication during the development process is augmenting the global enterprise engagement platform market due to increase in the interactivity between elements within the platform. However, training of employees for the management of enterprise engagement requires high investments, which is a challenge for small and medium enterprises. This is expected to hamper the market during the forecast period. On the other hand, rising technological advancements and product development and innovations by well-established as well as emerging players are likely to overcome this restraint during the forecast period.
The global enterprise engagement platform market can be segmented in terms of deployment, industry vertical, enterprise, component, service, and region. Based on deployment, the global market can be segmented into on-premises and cloud-based. Based on industry vertical, the global enterprise engagement platform market can be segmented into education; banking, financial services and insurance (BFSI); retail & consumer goods; IT & telecommunication; media & entertainment; government; enterprise; automotive; aerospace; healthcare; and others.
In terms of enterprise size, the global market can be segmented into large, medium, and small enterprises. Medium and small enterprises segments are estimated to expand at a higher rate during the forecast period, as compared to the large enterprises segment. In terms of component, the global enterprises engagement platform market can be segmented into solutions and services. The solutions segment is estimated to lead the market from 2019 to 2027. Based on service, the enterprise engagement platform market can be bifurcated into professional and managed.
Based on region, the global enterprise engagement platform market can be classified into North America (NA), Europe (EU), South America (SA), Middle East & Africa (MEA), and Asia Pacific (APAC). North America is expected to account for a leading share of the global market between 2019 and 2027, followed by Europe and Asia Pacific. Dominance of North America can be due to presence of well-established as well as emerging players providing enterprise engagement platform in the region. The market in Asia Pacific is anticipated to expand at the maximum rate during the expected period, due to rise in the demand for high-quality trainings for business partners and employees among large, small, and medium enterprises in the region.
Key players operating in the global enterprise engagement platform market are Comarch SA, 8×8, Inc., SpotMe, Capterra, Folloze, Inc., Talisma Corporation Pvt. Ltd., Evariant, Inc., Bruce Bolger Company, PostUp, HubSpot, Inc., IBM Corporation, Microsoft Corporation, and Turbonomic.