Rapidly growing IT industry coupled with the trend of bringing your own device (BYOD) is expected to provide new opportunities for growth of Cloud Collaboration

Cloud collaboration is the process of sharing and co-authoring the computer-based work through cloud technology. It is a type of enterprise collaboration in which the number of employees allowed to work together on documents or any other work. This data is stored and used through a cloud-based collaboration platform where the employee can share and edit the data. A few years back, there were some challenges due to which employees were reluctant to collaborate with this technology such as safety issues and lack of knowledge. Also, there was a practice of using e-mail as their primary electronic collaboration tool, which results that many providers created cloud collaboration tools which include email alerts and the ability to access the document at any time. 

The expansion of the organizations across the globe, need to increase productivity is the primary driving factor of the cloud collaboration market. In addition, efforts taking for solutions that can offer services that will reduce the overall infrastructure cost such as automation is expected to drive the market at a fast pace in the coming years. However, such as security, unauthorized use may hamper the growth of the cloud collaboration market. Rapidly growing IT industry coupled with the trend of bringing your own device (BYOD) is expected to provide new opportunities for growth of Cloud Collaboration. The bring your own device is the new concept in the consumerization of IT, where employees bring their own computing devices such as smartphones, laptops, and tablets to the office for use.

Recently in March 2019, Bluescape, the leading collaboration workspace solution, introduces new product features and API integrations with Adobe Creative Cloud tools, including a free trial program of Bluescape. In addition, Microsoft also announced on March 13 that its chat and collaboration application, Microsoft Teams, is now available for high-security and Department of Defense environments.

The global cloud collaboration market is estimated to register CAGR around 12.5% between 2019 and 2026. The study of cloud collaboration segments the market in component, deployment model, vertical, organization size and regional segment. Based upon the component, cloud collaboration market is classified as solution and services. On the basis of Cloud Collaboration deployment model, Cloud Collaboration market has been segmented as Private Cloud, Public Cloud, and Hybrid Cloud. Based upon verticals, the market of Cloud Collaboration is classified as Healthcare and Life Sciences, Government and Public Sector, Media and Entertainment, Banking, Financial Services, and Insurance, Retail and Consumer Goods, Transportation and Distribution and Others. Large Companies and Small and Mid-sized Companies are organization size segment of the cloud collaboration market. The regions covered in this report are North America, Europe, Asia-Pacific and Rest of the World. North America dominates the market with highest market share due to the existence of a large number of cloud collaboration vendors.

IBM Corporation, Microsoft Corporation, Cisco Systems, Google Inc., Salesforce.com, Jive Software, IntraLinks Holdings, Inc., Mitel Networks among others are some leading companies involved in the cloud collaboration market.