The global deals income of collaboration tools market was approximately US$ 32,307 Mn in 2021, and is expected to grow at a CAGR of 11.3% to a valuation of US$ 75,508 Mn by 2029. The market for collaboration tools accounted for approximately 15% of the overall undertaking programming market.

Unified communication and collaboration refers to the integration of enterprise communication tools into a single management system. The adoption of these tools is expected to have a significant impact on the market for collaboration tools.

The global sales revenue of collaboration tools was around US$ 32,307 Mn in 2021, and is expected to grow at a CAGR of 11.3% to reach a valuation of US$ 75,508 Mn by 2029. The collaboration tools market accounted for approximately 15% of the enterprise software market.

Unified communication and collaboration is a combination of enterprise communication tools assembled and integrated into a single management system. The collaboration tools market is expected to significantly benefit from the adoption of these tools.