According to International Data Corporation (IDC) new report, it is expected that worldwide enterprise social software applications revenue to grow from $0.8 billion in 2011 to $4.5 billion in 2016, representing an impressive compound annual growth rate (CAGR) of 42.4%. The report shows that enterprise social software adoption will accelerate rapidly with continued strong growth through the period.
Here is what the IDC group vice president had to say about it:
“It is critical for social software solutions to keep up with the pace of change to meet emerging business needs,” said Michael Fauscette, group vice president for IDC’s Software Business Solutions Group. “IDC expects acquisition activity to continue apace and that social solutions will rapidly evolve and converge around business critical workflow. Vendors should change with these trends, and users should act in anticipation of them.”