Cloud Collaboration Market Is Expected To Rise At An 11.1% Value CAGR By The End Of 2032 Persistence Market Research

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NEW YORK, September 22, 2022 (GLOBE NEWSWIRE) -- The global cloud collaboration market will grow at a CAGR of 11.1% between 2022 and 2032, according to a recent report released by Endurance Market Research. Over the forecast period, the industry is expected to provide an opportunity of $89.3 billion, which is expected to reach $137.3 billion by 2032, up from $48 billion in 2022.

Expansion of organizations in overseas projects, increased productivity, and bring-your-own-device (BYOD) trends are some of the key factors that will drive the growth of the cloud collaboration market during the forecast period. In addition, the rapid development of the IT sector has a positive impact on the market, as the main players in the industry introduce new solutions. Strategic activities and developments such as partnerships, agreements, collaborations and mergers provide a competitive advantage in the marketplace.

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In addition, factors such as increased mobility, increased employee savings and productivity, reduced investment and operating costs, and high adoption rates among SMEs are expected to drive market growth in the coming years.

In addition, the growing demand for Internet of Things (IoT) applications in various sectors of the economy will increase resilience and thus enable the use of cloud and on-premises security solutions. As most companies in the regions use these technology services, the use of the cloud collaboration market is expanding and driving the growth of the entire market.

See report methodology: https://www.persistencemarketresearch.com/methodology/33108.

Main results of the market research

  • The global cloud collaboration market will grow by $137.3 billion between 2022 and 2032.

  • Unified communications and collaboration will be a category of solutions with 10.7% sales growth at an annual CAGR through 2032.

  • Cloud collaboration for BFSI with application will expand at a CAGR of 10.5%.

  • The US will be the fastest growing cloud collaboration market with a CAGR of 10.8%.

  • China is expected to be worth US$10 billion by 2032, making China the second most adventurous market.

  • Japan, the UK and South Korea are offering $8bn, $5.8bn and $5bn opportunities respectively.

    • the story goes on

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    “The growth of the cloud collaboration market depends on the increase in the number of companies and the increase in the productivity of all offshore projects,” notes the PMR analyst.

    competitive environment

    The global cloud collaboration market is characterized by a large number of providers trying to provide customers with a wide range of consulting and integration services. In addition, companies are looking for specialized service providers who provide solutions tailored to their business goals. In addition, sellers can use product enhancements and differentiation to gain an edge over other competitors in the market.

  • In May 2020, Microsoft Teams released several updates to its partner and communications platform. The Teams Shifts app is getting some new features, including new triggers and templates for automatically approving shift requests.

  • In April 2020, TrackingTime announced a new partnership with Microsoft Teams. Tracking the time spent on a specific project is possible for both group users and freelancers, as well as employers and even employees of large corporations. In addition to task and project management, the software includes attendance and team management, time sheets, and client reports. While teams are working on projects, hours are logged to make reporting easier than ever.

    • Get full access to the report: https://www.persistencemarketresearch.com/checkout/33107

    More useful information

    In its latest offering, Endurance Market Research presents an unbiased analysis of the global cloud collaboration market, providing historical analysis from 2015 to 2021 and forward-looking statistics from 2022 to 2032.

    The study reveals valuable information based on the solution (unified communication and collaboration, document management system, project and team management, enterprise social collaboration), services (training, consulting and integration, support and maintenance), implementation type (private cloud). . public cloud and hybrid cloud), company size (large enterprises, small and medium-sized enterprises (SMEs) and verticals (BFSI, consumer goods and retail, education, public and public sector, healthcare and life (science, industrial utilities, media and entertainment), Telecommunications and ITES, etc.) in five key regions (North America, Latin America, Asia Pacific, Europe, Middle East and Africa).

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