- The Workstream Collaboration Platform market is expected to grow 21.7% per year through 2025.
- Microsoft Teams’ DAUs have soared from 13 million on July 2019 to 115 million at the end of October 2020.
- If Teams can help drive growth in Office subscriptions, it will be huge for Microsoft.
Next calendar year could be big for Microsoft (MSFT). The gaming console cycle and the continued growth of Azure are likely to drive great results. Going forward, the focus will likely be on these two, but another product, Microsoft Teams, could help the company drive more growth in one of its largest divisions.
Teams, a Workstream Collaboration Platform, has seen explosive growth due to the pandemic. The market for these apps is expected to grow considerably in the coming years, and Teams is well-positioned to take a big share.
Workstream Collaboration Platforms
Workstream Collaboration Platforms (WSC) are apps that provide conversational workspaces for groups, normally arranged by different topics and within or between enterprises. Surveys show how collaborative work achieves higher performance, shortens timelines and helps lower costs because of the improvement in workflows and engagement.
These platforms have been crucial during COVID-19, and their importance should just keep growing in the next decade.
Several companies, like Twitter (TWTR), Square (NYSE:SQ), Facebook (FB), Mastercard (MA), and others, have announced plans to keep remote working as an option for the long term. With technological advances, remote working can be as effective as traditional work and can help companies save on rent and other business expenses.
Analysts estimate the WSC market will grow 21.7% per year, reaching $10.5 billion by 2025. The pandemic accelerated the timeline on WSC platforms, and they’re here to stay.
