The United States is the biggest market for collaboration software according to our Statista Technology Market Outlook. While the coronavirus pandemic forced companies around the world to rethink workflows based on the physical presence of their employees, U.S. corporations are estimated to spend roughly $7 billion on team collaboration and conferencing software like Microsoft Teams, Slack or Jira as well as dedicated email applications and sharing software. As our chart shows, Statista analysts saw the biggest growth in the United States' northern neighbor and another superpower on the other side of the globe.
Even though Canada only places seventh in terms of the countries with the highest estimated revenue in the collaboration software segment this year with approximately $408 million, it will nevertheless grow by 7.7 percent in 2022 according to the latest projections. Only one of the top 8 countries boasts a higher growth rate: China, which will see its revenues grow to $612 million, an improvement of 12 percent in comparison with last year.
Overall global revenues with collaboration software will likely hit $14 billion in 2022, an increase of $800 million year-over-year and a significant decrease compared to the jumps from 2019 to 2020 and 2020 to 2021, which were fueled by worldwide movement restrictions and social distancing mandates connected to the spread of the coronavirus. Even with the possibility of the pandemic becoming endemic over the next years, Statista analysts still see growth potential in this specific subsegment of the software market: By 2027, revenues in this sector are expected to add up to $18 billion.
Barring any significant market shakeup, a significant share of these profits will go to Microsoft. According to company statements and Statista research, the tech company held a collaboration software market share of 24.2 percent in 2020, followed by Google, Cisco and Slack with 9.3, 7.4 and 6.6 percent respectively.