Worldwide social platforms market grew 55.9% year over year to reach $369.7m in 2009, with top three vendors IBM, Communispace and Telligent, accounting for 29% of the total worldwide market revenue, according to market research and analysis firm IDC.
IDC said that highly dynamic and evolving social platforms market is key to drive the overall collaborative applications market and will continue to be an important influence on technology purchase decisions and portfolios.
The market researcher said that these social technologies are helping to bridge the 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.
Erin Traudt, research director for enterprise collaboration and social solutions program at IDC, said: "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.
"Part of the collaboration requirements that we are experiencing today are due to the consumerisation of IT and the blending of our personal and professional lives. Vendors in this market have recognised the opportunity early, and there is plenty of room as companies jockey for position."
