Cloud collaboration Market | Exactitude Consultancy Reports
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Cloud Collaboration Market by Solution (Unified Communication and Collaboration, Enterprise Social Collaboration, Project and Team Management, Document Management System, Support Services), Deployment (Public, Private, Hybrid), End-User (Telecommunication and ITES, Media and Entertainment, Education, Healthcare and Life Sciences, BFSI, Government and Public Sectors), and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global Trends and Forecast from 2019 to 2028
The cloud collaboration market is expected to grow at 13.43 % CAGR from 2022 to 2029. It is expected to reach above USD 98.79 Billion by 2029 from USD 31.78 Billion in 2020.
It is a cloud-based method through which colleagues can work together on documents housed in the cloud, with everyone able to access the same files and edit them in real-time. The members in the team can view and edit the documents at any time and also from any location. They can even work simultaneously. Thus, the employees are able to work on multiple projects.
Segment Analysis
The Cloud collaboration market is segmented based solution, deployment mode, organization and end user and region.
On the basis of solution, Cloud Collaboration market is sub-segmented into Unified Communication and collaboration, Enterprise Social collaboration, Project and team management, Document management system. Among these, Unified communication and solution is driving the market growth. This solution helps the employees to stay connected with each other and also for their customers and clients. It is a cost-effective solution and mainly employed in industries such as healthcare and education. The segment accounts for the majority of the Cloud Collaboration Market with a CAGR of 10.7 % by 2029.
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