Social Intranet Software Market Size

Social Intranet Software Market size was over USD 6.37 billion in 2023 and is anticipated to reach USD 54.18 billion by 2036, witnessing around 17.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of social intranet software is estimated at USD 7.28 billion. Social intranet is an internal communication platform, which is prominently used in workplace for collaboration and files sharing. The growth of the market can be attributed to the increasing demand for social intranet software in offices to maintain good communication, and avoid data breach or hacking by external sources. Along with this, this software has features to support remote workforce, which is further estimated to boost the market growth. Moreover, increasing penetration of cloud-computing technology, and IoT, combined with rising social connectivity are projected to encourage the market growth. For instance, it was observed that cloud computing generated a revenue of more than USD 290 billion in 2020. In addition to this, the increasing cases of data theft, hacking, and privacy breaches in commercial spaces, are estimated to fuel the market growth.

Furthermore, the increasing penetration of internet, and the rising demand for efficient communication platform for employees to enhance productivity, are also anticipated to surge the adoption of social intranet software. According to the data by the World Bank, in 2019, 56.727% of the total global population has access to internet.