Valley Cottage, NY -- (SBWIRE) -- 05/29/2019 -- Community Forum Market: Introduction
The increasing need for customer engagement and the growing trend of social media adoption are driving the community forum market. A community forum is a platform that creates digital space for community members to participate in productive discussion. Community members use community forum platforms to share ideas, thoughts and concerns. An online community forum is a networking method, in which people communicate with other people through a secured platform. Organizations are implementing community forum platforms to collaborate with external and internal parties so as to exchange organizational information.
Community forums also provide collaboration platforms with online communities and certain benefits to users such as internal knowledge improvement, productivity in teamwork, promotion of an organization's business, idea sharing, group solving of complex problems and social collaboration of employees for blogging and others. With growth of the collaboration market, the community forum market is growing. The community forum market is witnessing technological advancements such as video platforms, notifications, and integration with various applications. Community forums with mobile integration are expected to create huge demand during the forecast period. Mature community forums address support issues, measure the satisfaction level of customers and build a strong relationships with customers. Thus, community forums are gaining huge adoption across industries to support various business goals, focus on one or more objectives of business growth and support multi-tiered advocacy programs. Companies integrate community forums with websites so that community members can seamlessly interact within the brand's online community.
Various community forum platforms have been witnessing increasing adoption in organizations and business houses. Some of these community forum platforms include Google+ and Office 365, which are primarily used by various professionals and companies for communication and sharing files or documents. Professionals also interact with people outside the organization regarding various job-related openings and opportunities, apart from engaging in promotional and marketing activities via a community forum. Companies are also advertising the launch of new products, providing details regarding product discounts, etc. in order to drive sales and increase brand visibility online through these community forum platforms. Companies even connect with their business partners via community forum platforms in real time. Several developments in community forums with reference to technology, the proliferating growth rate of the market, along with recent developments and innovations are expected to drive the global community forum market during the forecast period.
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Community Forum Market: Drivers and Challenges
Continuous development of modern technology by key players in the community forum market, such as Socialtext and Tibbr, has helped social media integrate with business technologies through their community forum platforms. Companies are adopting community forum platform to communicate and share information with clients and employees. These community forum platforms enable reducing time, saving money, and increasing customer loyalty. Companies have effectively measured high return on investment using community forum platforms. Content analytics is another factor that is driving community forum market. Analytics allows a company to monitor social interactions related to the product or service that they are offering. Analytics also helps in understanding the image of the company with statistical analysis. Companies take decisions on the basis of information provided by analytics tools related to product trend, growth, and failure. This is another potential factor which is expected to drive the community forum market during the forecast period.
High security concerns are among the major factors hindering the growth of the community forum market. The online collaboration of business information with social networking websites creates an opportunity for cyber attackers to breach the information or hack business data through community forums. The integration of CRM or ERP with community forums allows clients, vendors, and other users to access the content of a company. However, vendors are continuously improving on the above mentioned challenge and are expected to overcome this by the end of the forecast period.
Community Forum Market: Segmentation
Segmentation on the basis of the Size of Enterprise
The community forum market has been segmented on the basis of the size of enterprise into small, medium and large enterprises.
Segmentation on the basis of Industry
The community forum market has been segmented based on the basis of industry into healthcare, BFSI, IT & telecom, government, retail & consumer goods and others.
Community Forum Market: Key Development
In July 2016, Microsoft integrated the Yammer social collaboration platform with the MS Office 365. This enabled Microsoft to provide MS Office as an online community forum. This integration also helped users by providing a personalized home page, earn points on activities, faster search options and conversation separation as private and others.
Community Forum Market: Market Participants
Some of the key players of the global community forum market are Cisco Systems Inc., Microsoft Corporation, Vanilla Forums, Lithium Technologies Inc., CMNTY Platform, IBM Corporation, Salesforce, VMware Inc., Tibco Software Inc., Socialtext Inc. and others.
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Community Forum Market: Regional Overview
North America and Western Europe are expected to hold the major market share in the global community forum market during the forecast period. The community forum market in the U.S. is expected to witness high growth during the forecast period, due to the high adoption rate of new technologies. Consumers in the U.S. are early adopters and due to the presence of advanced IT infrastructure, the U.S. is expected to surge the demand for community forum.