Cloud Collaboration Market Size 2022-2027: Industry Share, Growth, Trends, and Forecast

The latest research study "Cloud Collaboration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global cloud collaboration market size reached US$ 37.36 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 72.99 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.

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Cloud collaboration represents a communication system that enables users to work simultaneously on documents and other data types. It allows remote teams to modify in various ways, such as sharing, editing, uploading, commenting, etc. Some of the commonly used cloud collaboration services include enterprise social collaboration, document management systems, support services, etc. It aids in improving access to larger files, providing real-time updates and data access, streamlining scalability and workflow, minimizing investments, enhancing organizational participation, etc. Consequently, cloud collaboration finds extensive applications across several industries, such as telecommunications, media and entertainment, healthcare, banking, financial services and insurance (BFSI), etc.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Cloud Collaboration Market Trends:

The expanding information technology (IT) industry and the emerging trend of automation are primarily driving the cloud collaboration market. Additionally, the widespread adoption of video conferencing and team meeting solutions by numerous organizations for allowing effective communication with partners, teammates, and customers is further catalyzing the market growth.

Apart from this, the growing utilization of cloud-based data recovery systems and the rising integration of machine learning (ML) and artificial intelligence (AI) are acting as significant growth-inducing factors. Moreover, cloud collaboration offers high agility to small- and medium-sized enterprises (SMEs), which is also positively influencing the global market.

Besides this, the escalating demand for unified communication to increase productivity and efficiency is anticipated to fuel the cloud collaboration market over the forecasted period.

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Report Segmentation:

The report has been segmented the market into following categories:
Breakup by Solution:
• Unified Communication and Collaboration
• Enterprise Social Collaboration
• Project and Team Management
• Document Management System

Breakup by Deployment Mode:
• Public Cloud
• Private Cloud
• Hybrid Cloud

Breakup by Organization Size:
• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by End Use Industry:
• BFSI
• IT and Telecommunication
• Media and Entertainment
• Education
• Healthcare and Life Sciences
• Government and Public Sectors
• Others

By Geography:
•North America (United States, Canada)
•Asia Pacific (China, Japan, India, South Korea, •Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, •Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:

The major players in the market are Adobe Inc., Box Inc., Cisco Systems Inc., Citrix Systems Inc., Google LLC, International Business Machines Corporation, Intralinks Inc. (SS&C Technologies Inc.), Jive Software (Aurea Software Inc.), Microsoft Corporation, Mitel Networks Corporation, Oracle Corporation and Salesforce.com Inc

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