Virtual Collaboration Market Size

Virtual Collaboration Market size was over USD 16.93 billion in 2023 and is likely to reach USD 67.3 billion by the end of 2036, growing at around 11.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of virtual collaboration is assessed at USD 18.45 billion.

The advancement in technology, along with the growing need to save costs and time, are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the need for virtual collaboration after the deployment of work-from-home practices due to the Covid-19 outbreak. According to the Global Digital Overview, in 2020, the internet users globally have grown to 4.54 billion, which is an increase of 7 % as compared to the previous year.