The Cloud Collaboration market has been estimated to be of worth USD 20.6 billion in 2015, and forecasted to grow at a CAGR of 13.2 % over the reporting period to reach USD 38.29 billion by the end of 2020. Cloud collaboration is an enterprise collaboration which enables more users to access and work together with the documents along with other data types which are uploaded and stored in a cloud that can be accessed even from outside of the organization firewall.
The agile nature of cloud collaboration boosts the unprecedented changes in IT, content and applications. Cloud Collaboration enables meetings with remote participants and virtual teams, incorporates video into meetings, enable remote workers to access the collaboration applications, create flexible office space etc. It lets create internal communities and team workspaces, collaborate with external organizations, locate and access remote experts in real time and enables usage of any own device (Bring Your Own Device or BYOD).
The Cloud Collaboration market is driven by various factors such as transformation in work culture which enables usage of own device (BYOD), reduction in costs and increased productivity and service deliveries without high capital expenditure. As well as the ability to collaborate across time zones, functional and organizational boarders and reduced burden on resource-constrained IT helps the increasing agile business execution. The growth in Cloud Collaboration market is hindered by the factors such as data security concerns such as the uncontrolled storage by users in external file sharing systems which is a serious threat to the intellectual property of the organization, utmost dependency on the internet services.
With the improved performances of businesses, flexible deployment and consumption of collaboration services, partnership with experienced service providers and rise in SMEs choosing cloud based solutions, the collaboration market is expected to have handful of growth opportunities. However the organization face challenge in choosing the appropriate collaboration tool which serve the business requirements. The challenge within the organization is to make team leads and employees use the new collaboration tools instead of using traditional tools like email.
The research study on Cloud Collaboration market can be segmented based on the following criteria: solution, service, deployment type, end user industry vertical and geography. On the basis of the Cloud Collaboration solutions the market is segmented into Unified communication and Collaboration (presence information, instant messaging, IP telephony, audio, video & web conferencing and others), Enterprise social collaboration, Project and Team management and Document Management System. Enterprise and Social collaboration is expected to grow with highest rate and Unified communication and collaboration is expected to hold the major share of the market in the forecast period. Based on the end user industry vertical the market is segmented into Telecommunication and ITES, Media and Entertainment, Retail and Consumer goods, Banking Financial systems & Insurance, Education Healthcare and Life Sciences and others. Banking, Financial Services and Insurance sector is dominating the current market and entertainment and media sector is expected to grow with highest rate in the forecast period.
The geographical coverage of the Automated Material Handling Systems market has been segmented based on the geographical region as North America, Latin America, Asia-Pacific region, Middle East & Africa and Europe. The key market players include Microsoft Corporation, Google Inc., Cisco Systems Inc., Oracle Corporation, Box Inc., Citrix Systems Inc., Broadsoft Inc., Highq Solutions Limited and others.
Key deliverables of the study