Market Research Report
Global Cloud Collaboration Market Forecast 2021-2028
|Global Cloud Collaboration Market Forecast 2021-2028|
Published: June 14, 2021
Content info: 205 Pages
Delivery time: 2-3 business days
The global cloud collaboration market is predicted to record a CAGR of 15.11% during the forecast period, 2021-2028. The shifting working trends, increased mobility, growing need for workforce productivity, and BYOD adoption propel market growth.
The benefits offered by cloud collaboration make it a viable option across several organizations and businesses. Cloud collaboration allows increased productivity and supplements the increasing need for efficiency and productivity. The rising automation has resulted in industries looking for solutions that would incur fewer infrastructure costs. With businesses adopting mobile services and administering new policies for increasing employee interaction, it has become necessary to supply data accessibility across several end-point devices. These services enable employees and clients to access data and files working on offsite locations that make operations much more accessible. They also let the users with BYOD access over the data cloud. The increasing demand for the Internet of Things (IoT) applications in various end-user sectors in the emerging economies is augmenting the operational feasibility, thereby supplying secure and relevant cloud solutions. The security concerns restrict the growth of the market, which also hampers the implementation of BYOD strategies.
The global cloud collaboration market growth assessment includes the analysis of Europe, North America, Asia-Pacific, and Rest of World. The Asia-Pacific region is estimated to project the highest CAGR by the end of the forecast period. The companies in the region are increasingly digitizing their internal systems and business data.
The market penetration is high, with several well-established companies having a vast range of product offerings for enterprise use. Some prominent companies in the market include, Microsoft Corporation, Cisco Systems Inc, Oracle Corporation, HighQ Solutions Limited, Google LLC, etc.