Justina Alexandra Sava
Research expert covering the IT security & services market
Get in touch with us nowHybrid work models – the new social contract
The importance of technologies enabling hybrid work models was also demonstrated by a strong sales growth of hardware devices such as PCs, notebooks, headphones and many others. Nevertheless, an efficient hybrid work environment needs proper collaboration tools to meet challenging and constantly changing demands. The collaboration software market revenue amounted to 16.3 billion U.S. dollars in 2021, and it is forecast to increase up to 18 billion U.S. dollars by 2025. The increase in revenue is a natural consequence of the increasing demand and usage of collaboration tools. For instance, the number of daily active users of Microsoft Teams increased from 75 million in the second quarter of 2020 to 145 million one year later. Similarly, in 2021, over 50 percent of companies stated that they would increase their IT spending, especially for video meeting applications, team collaboration apps, and video conferencing room systems.Technology companies set to profit from hybrid work
In the future, companies worldwide will increasingly look to integrate technological innovations into their business operations and employee management to support emerging hybrid work models. For this reason, key cloud providers like Amazon Web Services, Microsoft Azure, and Google Cloud are considered centerpieces to the accelerating digital transformation phenomenon, with Amazon Web Services leading the cloud infrastructure services market for over four years. Cybersecurity vendors like Cisco, Palo Alto Networks, or Fortinet were important cornerstones of business intelligence even before the COVID-19 outbreak. However, their role became essential to a company's survival, especially since remote work setups left the door wide open for new security threats and vulnerabilities.
