Cloud meetings and team collaboration services enable enterprises to enhance their work effectiveness & efficiency, allowing employees to easily collaborate & communicate with everyone. Cloud meetings and team collaboration services provide a constant connected experience with a comprehensive suite of collaborative services for enterprises.
Technology is ripe for disruptive innovation with the objective of elevating the user experience and addressing user behaviour challenges. Technology innovation is expected to help many of the 2.7 billion frontline workers globally with mobile-first solutions and capabilities that are tailored to address specific workflows. Cloud meetings and team collaboration providers have a vested interest in arming frontline workers and various vertical industries with specific tools to simplify and optimize their workflows.
COVID-19 Scenario Analysis:
Lockdowns across major regions (Europe, Asia-Pacific, and North America) due to an increase in the spread of the Coronavirus (COVID-19), has a positive impact on the cloud meetings and team collaboration services market. The increase in demand for cloud to enforce social distancing from governments due to the highly contagious nature of COVID-19 has encouraged enterprises to deploy work-from-home (WFH). Therefore, enterprises are focusing more on video conferences or live meetings to ensure efficient business processes, which positively impacts the adoption of cloud meetings and team collaboration services worldwide.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The surge in BYOD and enterprise mobility is the developing trend that allows users to connect from any remote location globally. These emerging trends, along with the availability of smart devices, such as smartphones, tablets, and laptops, enable employees to give live presentations, conduct live meetings, and provide training from any remote location. This allows users to maintain connections with their clients, employees, and also, to respond rapidly as they can have quick access to the devices. Therefore, organizations are significantly focusing on adopting enterprise mobility and BYOD for several reasons, such as reduced IT expenses, increased efficiency, and real-time responses. Consequently, organizations can collaborate efficiently and quickly, with the easy accessibility of cloud collaboration solutions through conferencing, telephony, as well as social collaboration software. This has also empowered enterprises to exercise better control and make quick decisions by connecting with partners and suppliers at any time as per necessity. By 2020, more than half of North American and European enterprises implemented BYOD to decrease the investment on buying new tablets or laptops for their employees. Therefore, the increase in mobility and surge in the trend of BYOD across enterprises globally drive the cloud meetings and team collaboration services market.
Low awareness regarding advantages of cloud hosting services, specifically across developing nations as compared to developed economies, such as the U.S., UK, Japan, and Canada, are expected to hinder the global cloud meetings and team collaboration services market during the forecast period.
Key Benefits of Report:
- This study presents the analytical depiction of the industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the cloud meetings and team collaboration services market share.
- The current cloud meetings and team collaboration services market is quantitatively analyzed to highlight the market growth scenario.
- The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in Cloud Meetings and Team Collaboration Services Market Report:
- Which are the leading market players active in the cloud meetings and team collaboration services market?
- What would be the detailed impact of COVID-19 on the cloud meetings and team collaboration services market?
- What current trends would influence the cloud meetings and team collaboration services market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Cloud Meetings and Team Collaboration Services Market Report Highlights
| Aspects | Details |
 By Solution |
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 By Deployment Type |
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 By Enterprise Size |
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 By Industry Vertical |
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 By Region |
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 Key Market Players | Hewlett-Packard Development Company, L.P., Salesforce.com, Citrix Systems, Inc., Polycom, Inc., Unify, Inc. (Atos SE), Cisco Systems, Inc., Microsoft Corporation, GENBAND, Inc., Jive Software, Broadsoft, Inc., IBM Corporation |
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