13.2% CAGR growth by 2023 in the Collaboration Market with Top Players including MICROSOFT CORPORATION, GOOGLE INC., CISCO SYSTEMS, INC., ORACLE CORPORATION, BOX, INC., CITRIX SYSTEMS INC., JIVE SOFTWARE, amongst others

Market Analysis:

North America to Have a High Market Share
Cloud collaboration in North America is primarily driven by industries that are moving toward cloud computing to increase capacity and productivity. With automation trends catching on in the region, it has become increasingly important for industries to look for solutions that can offer services to reduce infrastructure costs.

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With changing data structures and increasing data flow, it has become tough for organizations to manage the data flow. It is expensive to increase capacities, as it needs new infrastructure and computing power. With changing business requirements, companies are now looking for services, which offer easy access and increase productivity. With businesses adopting BYOD, cloud collaboration offers easy data sharing across devices to streamline the workflow. With businesses going global, organizations are now constantly working across different time zones. Traditional data-sharing options do not provide the flexibility required for operation. Cloud collaborations provide flexibility by providing real-time synchronization across the cloud. These factors are driving the growth of cloud collaboration market. Public Cloud is expected to have high growth in the market, owing to cost cutting efficiency.

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Market Segments:
Collaboration Market is segmented by:
1. Solution: Unified Communication and Collaboration, Enterprise Social Collaboration, Project and Team management, Document Management System, Support Services
2. Deployment Type: Public Cloud, Hosted Private Cloud, Hybrid Cloud
3. End-user Industry: Telecommunication and ITES, Media and Entertainment, Education, Healthcare and Life Sciences, Banking and Financial System, Government and Public Sectors, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• February 2018 - Cisco and Google have been collaborating to extend their cloud computing capabilities over the hybrid cloud collaboration.
• January 2018 - Nokia has launched a new cloud collaboration hub in Singapore. The hub provides service for Nokia-specific, multivendor, and open source cloud solutions.
• January 2017 - Companies such as Tyco have been collaborating with Google cloud services. This collaboration is expected to boost the company’s infrastructure and increase the accuracy of inventory availability of the company.

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