Market Trends of Cloud Collaboration Industry
This section covers the major market trends shaping the Cloud Collaboration Market according to our research experts:
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 enterprises more efficient and collaborative, the last few years have seen collaboration solutions rise steadily. These tools have increased 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 manage 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 cloud-based deployments.
- Moreover, enterprises are increasingly comfortable using cloud-based solutions as stand-alone or 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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Europe to Hold Significant Market Share
- Europe occupies a significant portion of the demand for cloud applications. According to Eurostat, the enterprise use of cloud computing services in the European Union (EU) in 2021 was 41 percent, which was 4% higher than that in 2020. Cloud penetration is increasing with automation trends, which has become increasingly crucial for enterprises to look for solutions that can offer these services.
- In June 2022, the European Commission announced that it had launched a dialogue with Member States on the joint creation of a Collaborative Cloud for Cultural Heritage to help safeguard European cultural treasures through digital infrastructure. The collaborative cloud would enable unprecedented transdisciplinary and large-scale collaboration between specialists, such as cultural heritage scholars, curators, archivists, and conservators.
- As cloud storage and collaboration tools are shaping the future of email communication, they are increasingly adopted by businesses using the cloud for emails and using automation and streamlining solutions, such as ERP.
- Besides hybrid cloud growth, companies are increasingly engaged in cloud-based technologies. Google, AWS, IBM, and Salesforce are engaged in significant cloud technology developments and make up a significant share of Spain's current market for cloud-based services. Such factors are expected to create a scope for the cloud collaboration market in the region.
- By streamlining internal communications and enabling a collaborative culture, businesses could be empowered to work more productively and, more importantly, as one unified unit, which will ultimately support the businesses' agility and increase the speed of decision-making that is necessary for businesses of any size to remain competitive in today's fast-paced business world. These are some of the factors that are expected to drive the market in the European region.
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