Social platform revenues topped $360m last year
IDC report shows social platforms market saw healthy growth in 2009 in spite of the economic downturn
Social platforms survived the economic downturn and showed "strong gains" last year with the market seeing $369.7 million in worldwide revenue, says a recent IDC report.
The figure represents year-over-year growth of nearly 56% which was helped by more social networking players bringing their products to market.
IDC identified the top three social platform vendors, based on worldwide revenue, as IBM, Communispace and Telligent, which accounted for 29% of the total market.
"The success and prevalence of consumer social networking companies, such as Twitter, Facebook, and LinkedIn, have paved the way for ISVs looking to bring the social Web experience into the enterprise," says Erin Traudt, research director for IDC's Enterprise Collaboration and Social Solutions program. "Part of the collaboration requirements that we are experiencing today are due to the consumerization of IT and the blending of our personal and professional lives. Vendors in this market have recognized the opportunity early, and there is plenty of room as companies jockey for position."
IDC research shows a dynamic social platforms market is key to driving the collaborative applications market.
"These social technologies are helping to bridge a gap that has existed with consumer experiences and business applications that can no longer be ignored - especially in the context of 2008-2009 growth rates, where some companies experienced triple-digit growth," adds IDC.