Instant messaging software market powered by growing popularity of artificial intelligence, report
Instant messaging (IM) technology is a type of online chat that offers real-time text transmission over the Internet. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market according to a recent report by Radiant Insights Inc.
The global Instant Messaging Software Market was valued at a significant market value over the past few years and is further expected to grow at an exponential rate during the forecast timeframe.
The concept of instant messaging has blossomed as a key communication mode across millions of internet users. The corporate messaging software services are being upgraded to better solutions that are way more convenient and efficient than calls or emails.
These platforms have presented scalability and have gained popularity as employees have found these platforms faster.
The market of instant messaging software is predominantly driven by the growing mobile messaging platforms, couple with the added features such as such as chat, video conferences, alerts, file transfers, polls, news, create a professional collaborative environment.
Popular systems such as Internet Relay Chat (IRC), ICQ, and Microsoft's MSN Messenger, have altered the way human beings are communicating with peers, acquaintances, and business employees.
The increasing dependence on instant messaging platforms is creating a heavy burden on the underlying IM infrastructure. There are associated vulnerabilities with these messaging platforms and are likely to have enormous economic and societal repercussions.
Often these platforms lack encryption capabilities as these are equipped with features that can bypass the traditional corporate firewalls. This has posed to be a major challenge for the monitoring the network inside the organizations. This software is often prone to denial-of-service (DoS) attacks and account spoofing.
Based on product type, the instant messaging software market has been categorized into on-premise and cloud based. The application-based segmentation includes personal, large enterprise, and SMEs. Large enterprises are the major users of instant messaging platforms owing to the booming corporate space.
The modern workplace is fundamentally collaborative, and this cooperation among employees often relies valuable communication among colleagues. Several communication tools like blogs, email, wikis, Twitter, etc. have become progressively popular and available in workplace communications.
Based on the geographical outlook, the market of instant messaging software has been segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. North America dominated the global market space since the past several years and it can be attributed to the presence of a huge number of tech giants and enormous number of research and development activities undertaken by the players and other government organization.
For instance, a software platform called Palm Pilot has eventually worked its way into the corporate culture of America.
The instant messaging software market is expected to explode over the next decade- in enterprise, home, and even "on the air". These messaging services are expected to bring people closer together and are anticipated to dramatically enhance business efficiencies and are soon expected to emerge as an indispensable part of the communication ecosystem. Some of the key players operating in the market comprises Liscio, LiveAgent, Mirrorfly, Genesys, Salesforce, Zoho, Skype, Twist, Slack, Freshchat, Nextiva, Zendesk, Flock, Quire, HelpCrunch, and Talkspirit.
