Market analysis shows growth in revenue and active user base from team collaboration solutions. By the end of 2018, revenue reached $786 million with the increase of 24 million weekly active paid user licences. Similarly, the free user license base also grew, reaching 187 million active users at end of 2018.
Team collaboration solutions are software tools that allow users to chat individually or in groups and organize conversations into specific channels for different workflows or projects. These solutions may also include features like task management, file storage, and project planning, as well as calling and conferencing.
2018 was a significant year for team collaboration solutions, with a focus on wider adoption and a shift towards the team experience. They can be purchased as stand-alone solutions or as part of a larger productivity suite with providers like Microsoft and Google, with varying prices based on the package. North America has the largest paid user base, while Asia Pacific represents a majority of weekly active free user base.
It is no surprise that Microsoft was the market leader for team collaboration by the end of 2018, as they migrated from Skype for Business Online to Teams for a lot of their users. Microsoft held a share of 40% of weekly active paid user base globally. Slack continued to see growth and profit and accounted for 22% of total weekly active paid user base. Webex Teams solution held a share of 10%.
Team Collaboration software is clearly set to dominate the industry in the coming years.
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