Cloud Collaboration Market Trends 2021 | Growth by Top Companies: Microsoft Corporation, Cisco Systems Inc., Oracle Corporation, HighQ Solutions, IBM Corporation

The Market Insights Reports has added a new statistical data to its repository titled as, Global Cloud Collaboration Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.

The Cloud Collaboration market was valued at USD 31.78 billion in 2020 and is expected to reach USD 66.92 BIllion in 2026, registering a CAGR of 13.43% over the forecast period (2021-2026).

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Top Key Players in the Global Cloud Collaboration Market are Microsoft Corporation, Cisco Systems Inc., Oracle Corporation, HighQ Solutions, IBM Corporation, Box Inc., Citrix Systems Inc., Jive Software Inc., Mitel Networks Corp., Intralinks Holdings Inc., Salesforce.com Inc., Hyperoffice, Atlassian Corporation PLC, Adobe Systems, Zoho Corporation, and others. 

Industry News and Update:

May 2020 – Microsoft announced a slew of updates for its Teams collaboration and communications platform. Teams is getting new capabilities in the Shifts app, including new triggers and templates, to enable auto- approvals for shift requests.

– April 2020 – TrackingTime announced its new collaboration with Microsoft Teams. It is for team users, freelancers, and the employers and employees of even the largest corporations to track the time spent on any specific project. Besides task and project management, the software includes attendance and team management, timesheets, and client reports. As teams work on projects, the hours are stored to make reports easier than ever to complete.

– March 2020 -Cloud services provider, Volterra, announced its encryption tool to make file sharing via collaborative platforms more secure without using passwords or public-key cryptography. VoltShare encrypts data and files locally to add an extra layer of security to collaboration and cloud storage platforms, including Slack, Teams, and Dropbox.

Key Market Trends:

Unified Communication and Collaboration Solutions to Drive the Market Growth           

– Unified communication and solution have been making it easier for workers to stay connected to other employees and for customers and clients to reach them no matter where they are. With the need to make the enterprises more efficient and collaborative, the last few years have seen collaboration solutions rise steadily. These tools have increased the productivity and unlocked innovation by enabling virtual teams to work together across geographies.

– Another trend driving the demand for cloud-based solutions is the enterprises’ desire to incorporate collaboration and communication tools into their business applications and workflow integration.

– Unified communications and solutions, since their launch, have emerged as a cost-effective solution for multiple organizations across various industries, such as healthcare and education. Moreover, the cloud-based delivery of these unified communications offered by companies, such as Mitel Networks Corporation and IBM, shapes the way organizations are managing their communication networks.

– According to AT&T, business leaders are increasingly looking for ways that will change the workplace. The market is witnessing robust growth in adopting cloud-hosted collaboration solutions due to the increase in the mobile workforce, coupled with the BYOD trend. In fact, unified communications and collaboration solutions are taking a significant share of the cloud-based deployments.

– Moreover, enterprises are increasingly comfortable using cloud-based solutions, either as stand-alone or as complementary hybrid solutions. One example of such a cloud-based collaboration application is Cisco’s Spark, previously known as Project Squared.

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Highlights of TOC:

Market Overview: It starts with product overview and scope of the Global Cloud Collaboration market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Cloud Collaboration market size analysis for the review period 2015-2025.

Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Cloud Collaboration market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.

Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.

Market Dynamics: Readers are provided with a comprehensive analysis of Cloud Collaboration market challenges, influence factors, drivers, opportunities, and trends.

Market Forecast: Here, the Cloud Collaboration report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.                              

Frequently Asked Questions about Cloud Collaboration market:

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