Cloud Collaboration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cloud Collaboration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global cloud collaboration market size reached US$ 42.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 81.1 Billion by 2028, exhibiting a growth rate (CAGR) of 10.77% during 2023-2028.

Cloud collaboration refers to a communication system that enables users to work simultaneously on documents and other data types. It allows remote teams to collaborate and modify the documents in various ways, such as sharing, editing, uploading, commenting and collaborating. Enterprise social collaboration, document management system, unified communication and collaboration, support services and enterprise social collaboration are some of the commonly used cloud collaboration services. It assists in improving access to larger files, providing real-time updates and data access, streamlining workflow and scalability, reducing investments, and improving organizational communication and participation. As a result, cloud collaboration finds extensive applications across various industries, such as education, healthcare, media and entertainment, telecommunications and banking, financial services, and insurance (BFSI).

Cloud Collaboration Market Trends:
Significant growth in the information technology (IT) industry across the globe and the increasing automation trends are some of the key factors creating a positive outlook for the market. Cloud collaboration solutions offer high agility to organizations, while enabling easy data sharing among remote and virtual users, which, in turn, is supporting the market growth. In line with this, the increasing adoption of cloud-based data recovery systems and the integration of machine learning (ML) and artificial intelligence (AI) to efficiently manage communications and collaboration between teams is favoring the market growth. Moreover, the emergence of bring-your-own-devices (BYOD) and work from home (WFH) trends on account of the ongoing coronavirus disease (COVID-19) pandemic and the consequent mandatory implementation of lockdowns are providing an impetus to the market growth. Organizations are adopting video conferencing and team meeting solutions for allowing effective communication with partners, teammates, and customers. Additionally, the widespread adoption of unified communication and solutions to increase productivity, efficiency and unlock innovation by enabling virtual teams is positively impacting the market growth. Other factors, including the increasing demand for cloud collaboration in small- and medium-sized enterprises (SMEs) and extensive research and development (R&D) activities, are anticipated to drive the market further toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cloud collaboration market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on solution, deployment mode, organization size and end use industry.

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

Breakup by Region:

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. How big is the global cloud collaboration market?
2. What is the expected growth rate of the global cloud collaboration market during 2023-2028?
3. What are the key factors driving the global cloud collaboration market?
4. What has been the impact of COVID-19 on the global cloud collaboration market?
5. What is the breakup of the global cloud collaboration market based on the solution?
6. What is the breakup of the global cloud collaboration market based on the end use industry?
7. What are the key regions in the global cloud collaboration market?
8. Who are the key players/companies in the global cloud collaboration market?