The report covers the present scenario and the growth prospects of the global cloud collaboration market for 2016-2020. To calculate the market size, the report covers the present scenario and prospects of the global cloud collaboration market for the period 2016-2020.
The global cloud collaboration market to grow at a CAGR of 11.09% during the period 2016-2020.
It also details the major drivers of the market and outlines the challenges faced by vendors and the market at large, as well as the key emerging trends in the market.
One of the key trends for market growth will be virtualizing the workspaces. Organizations' have increased their focus on virtualizing IT workspaces.
So, firms are slowly replacing traditional desktop and cabin models and embracing virtual workspaces that provide flexibility while controlling costs and maintaining security. Cloud collaboration modernize the IT virtual infrastructure so that the user can experience the borderless flow of information with seamless communication technology.
According to the report, one of the key drivers for market growth will be increased internet penetration and speed. Governments worldwide are promoting the use of the internet.
In 2015, the global population was 7.21 billion, out of which around 3.01 billion, or 42% of the world population, were active internet users. Among the active users, 94% access the internet through their mobile phones for business and personal purposes.
APAC has more internet users than other regions because of China and India, which are highly populated countries.
Further, the report states that data security and privacy will be a challenge for the market. The popularity of cloud collaboration lies in its cost-effectiveness and compatibility within any web browsers.
Earlier, companies avoided using video conferencing due to its high price-point. However, the same feature has made businesses worried about the internet security.
They fear hackers might gain access to the video client in the conference and gain access to private networks.
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