Cloud Meetings and Team Collaboration Services Market 2022: Explore Top Factors that Will Boost the Global Market in Future

The surge in BYOD and enterprise mobility is the developing trend that allows users to connect from any remote location globally. These emerging trends, along with the availability of smart devices, such as smartphones, tablets, and laptops, enable employees to give live presentations, conduct live meetings, and provide training from any remote location. This allows users to maintain connections with their clients, employees, and also, to respond rapidly as they can have quick access to the devices. Therefore, organizations are significantly focusing on adopting enterprise mobility and BYOD for several reasons, such as reduced IT expenses, increased efficiency, and real-time responses. Consequently, organizations can collaborate efficiently and quickly, with the easy accessibility of cloud collaboration solutions through conferencing, telephony, as well as social collaboration software. This has also empowered enterprises to exercise better control and make quick decisions by connecting with partners and suppliers at any time as per necessity.

By 2020, more than half of North American and European enterprises implemented BYOD to decrease the investment on buying new tablets or laptops for their employees. Therefore, the increase in mobility and surge in the trend of BYOD across enterprises globally drive the cloud meetings and team collaboration services market.

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Low awareness regarding advantages of cloud hosting services, specifically across developing nations as compared to developed economies, such as the U.S., UK, Japan, and Canada, are expected to hinder the global cloud meetings and team collaboration services market during the forecast period.

Major industry players - Cisco Systems, Inc., Citrix Systems, Inc., GENBAND, Inc., Hewlett-Packard Development Company, L.P., IBM Corporation, Microsoft Corporation, Polycom, Inc., Unify, Inc. (Atos SE), and Others

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COVID-19 Scenario Analysis:

Lockdowns across major regions (Europe, Asia-Pacific, and North America) due to an increase in the spread of the Coronavirus (COVID-19), has a positive impact on the cloud meetings and team collaboration services market. The increase in demand for cloud to enforce social distancing from governments due to the highly contagious nature of COVID-19 has encouraged enterprises to deploy work-from-home (WFH). Therefore, enterprises are focusing more on video conferences or live meetings to ensure efficient business processes, which positively impacts the adoption of cloud meetings and team collaboration services worldwide.

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