The Global Cloud Collaboration Market to Gain $110.512 Billion by 2028

A Triton Market Research report on the global cloud collaboration market states that the industry, which generated $27.543 billion in 2018, is likely to surge at a CAGR of 9.34% by the year 2028.

A study by Triton Market Research with the title 'Global Cloud Collaboration Software Market,' covers the Global Analysis and Forecast for 2019-2027 by Deployment (Public Cloud, Hybrid Cloud, Private Cloud), by Type (Support Services, Document Management System, Project & Team Management, Enterprise Social Collaboration, Unified Communication & Collaboration), by Application (BFSI, Healthcare & Life Sciences, Education, Telecommunication & Ties, Government & Public Sectors, Media & Entertainment, Other End-user Industries), and by Geographical Region (Asia-Pacific, North America, Latin America, Europe, Middle East and Africa).

Cloud collaboration is used by companies for high agility and allowing easy data sharing among both remote and virtual users. Cloud computing solutions help in dealing with large size multimedia files by providing access to the cloud, where these files can be stored accessed with no delay.

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According to the report, the global cloud collaboration market is estimated to gain $110.512 billion by 2028, progressing at a CAGR of 14.75% over the estimated period 2019-2028. The growing penetration of smartphones has led to an increase in the adoption of BYOD policies in workplaces across the world, which is a key driver of the cloud collaboration market. The ever-increasing need for increasing workforce productivity and enterprise agility is another factor influencing the growth of the cloud collaboration market. However, the persisting data security concerns and the complexities in application integration are restricting the global cloud collaboration market growth.

Based on deployment, the cloud collaboration market is divided into the public cloud, hybrid cloud and private cloud. According to type, the market is segmented into support services, document management system, project & team management, enterprise social collaboration and unified communication & collaboration. Considering the application, it is categorized into BFSI, healthcare & life sciences, education, telecommunication & ties, government & public sectors, media & entertainment and other end-user industries.

As per the regional landscape, Asia-Pacific is likely to be the fastest-growing region for the global cloud collaboration market in the projected years. The increasing application of cloud services by retail and consumer products companies, media, gaming players, financial services institutions and the public sector in countries like Japan is an important factor driving the growth of the cloud collaboration market.

Likewise, North America is anticipated to be the largest cloud collaboration market contributing the highest to the revenue. The growing adoption of concepts like BYOD (bring your own device) in the majority of the workplaces in the US, is primarily driving the regional growth of the cloud collaboration market.

Some of the major players in the cloud collaboration market are Cisco Systems Inc, Jive Software, Box, Zoho Corporation Pvt Ltd, International Business Management Corporation, HighQ Solutions Limited, Salesforce.com Inc, Microsoft, Mitel Networks Corp, Citrix Systems Inc, Atlassian, Oracle, HyperOffice, Google LLC, Adobe Systems Incorporated and Intralinks Inc.

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Question & Answer: Cloud Collaboration Market
Question 1: What are the drivers of the global cloud collaboration market growth market?
Answer: The growing penetration of smartphones has led to an increase in the adoption of BYOD policies in workplaces across the world, which is a key driver of the cloud collaboration market. The ever-increasing need for increasing workforce productivity and enterprise agility is another factor influencing the growth of the cloud collaboration market.

Question 2: Which factors are restricting the global cloud collaboration market growth?
Answer: The persisting data security concerns and the complexities in application integration are restricting the global cloud collaboration market growth.

Question 3: How are the Asia-Pacific and North America regions impacting the cloud collaboration market outlook?
Answer: As per the regional landscape, Asia-Pacific is likely to be the fastest-growing region for the global cloud collaboration market in the projected years. The increasing application of cloud services by retail and consumer products companies, media, gaming players, financial services institutions and the public sector in countries like Japan is an important factor driving the growth of the cloud collaboration market.

Likewise, North America is anticipated to be the largest cloud collaboration market contributing the highest to the revenue. The growing adoption of concepts like BYOD (Bring your own devices) in the majority of the workplaces in the US, is primarily driving the regional growth of the cloud collaboration market.

Question 4: Which are the major players mentioned in the competitive landscape of the report on the cloud collaboration market?
Answer: Some of the major players in the cloud collaboration market are Cisco Systems Inc, Jive Software, Box, Zoho Corporation Pvt Ltd, International Business Management Corporation, HighQ Solutions Limited, Salesforce.com Inc, Microsoft, Mitel Networks Corp, Citrix Systems Inc, Atlassian, Oracle, HyperOffice, Google LLC, Adobe Systems Incorporated and Intralinks Inc.

Related Report:
Global Enterprise Resource Planning Market

The Global Enterprise Resource Planning Market is anticipated to show growth at $66.685 billion by 2027, with a CAGR of 7.43% during the forthcoming period 2019-2027. The increasing focus on real-time decision making is the major factor driving the growth of the global enterprise resource planning market. With the growing customer demand and pricing pressure, there is an intense competition in the business environment, which is another driver of the global market growth.

The increasing adoption of cloud-based enterprise resource planning (ERP) solutions by small and medium enterprises will create immense opportunities for the market growth. Moreover, due to its simplicity and lower cost of ownership, cloud-based ERP systems are gaining momentum in the market space, which are likely to influence the market growth positively.

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