June 18, 2021: Organizations coupled with data-intensive solutions offering high scalability and cost-effective model having a reach across all verticals while accessing limited scope of resources coupled with enterprise mobility and view to business sustenance by effective cloud-deployment boosts the cloud collaboration market size. Cloud Computing Model leverages three paradigms of Software as a Service (SaaS), platform as a Service (PaaS), and Infrastructure as a Service (IaaS) that makes for better information interchange without additional infrastructure costs riding on real-time business exposure to clients and increased productivity by distinct employee interaction enhancing the cloud collaboration market size.
Bring Your Own Device (BYOD) and Enterprise Mobility Management (EMM) to engage via video-conferencing, establish secured communication channels that are platform-independent such as WhatsApp and Facebook, leveraging cloud communication applications such as Microsoft Azure coupled with reducing dependency on offline tools viz: emails have enhanced the cloud collaboration market size. Integration of media across the web viz: text, images, and videos with computational agility and seamless adoption and sharing of resources on the cloud boosts cloud collaboration market productivity.
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The success of cloud collaboration lies in its cost-effectiveness and imminent compatibility with all web browsers. Cloud collaboration market size by solution comprises unified communication and collaboration, document management systems, project team management and Enterprise social collaboration. Market size by service belongs to training, consultation and integration and support and maintenance. By deployment, Cloud collaboration market comprises private model, public model and hybrid cloud. Cloud Collaboration Market by organization size comprises large enterprises and SME (small and medium enterprises).
By vertical, the market extends to BFSI, consumer goods and retail, education, government and public sector, healthcare and life sciences, manufacturing and media entertainment, telecommunications and ITES, and others. By region, the market has significant contributions led by North America, Europe, Asia Pacific, MEA, and Latin America. Public Cloud exhibited maximum market traction in offering an underlying pool of connected resources to various users.
Data security concerns due to extrinsic file-sharing on the server having diverse entry and exit points, coupled with unpredictability in Internet service offering by provider act as restraints to the cloud collaborating market. Cloud Collaboration market is fragmented and there lies intense market rivalry among competitors to gain market dominance due to prevailing demand for enterprise communications among large and small enterprises (SME). M&A will form the cornerstone of this business.
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A news article dated Nov 2016 has to say that market imperatives for success in an enterprise computing model are a progressive collaboration between business and Information Technology. Shadow IT is a palpable distraction to integration of cloud computing resources and other barriers instrumental in cloud integration approach were doubtful ROI, disquiet between infrastructures, disproportionate cost and high-security risk.
It also adds that by using IaaS model, organizations can collaborate more assiduously and disparity between business directives and IT will disappear. Business is bruised badly by rigid stance taken by infrastructures with innovations wearing thin and business integration not on the right track leading to organizational success falling through. Turning a blind eye to security measures businesses must deal with written records of user passwords, incorrect practices such as data being taken off company website and ominous sign-in sheets being misrepresented.
Key industry players in the market include Cisco, Microsoft, Google, IBM, Mittel and salesforce.com. Few other vendors in cloud collaboration market include 8x8 Aastra Technologies, Broadsoft Configure, Corex, Dell, Genysys Telecommunications Laboratories, Hewlett Packard, Huawei Technologies, Interactive Intelligence, Juniper Networks, Logitech International, Mindtree, Orange, Polycom, RingCentral, ShoreTel, and Toshiba.
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