Cloud Collaboration Market Is Expected to Reach $21.3 Billion by 2019 – New Report by MarketsandMarkets
(PRWEB) December 18, 2014 -- The report segments the “Cloud Collaboration Market” to define its growth trends, revenue forecasts and business prospects for the key players. It also provides an in-depth analysis of the growth drivers, restraints, opportunities and challenges for this market on a global scale.
Browse “Cloud Collaboration Market” information through detailed ToC, Data Tables and Figures, spread across over 120 Report pages.
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In this report, MarketsandMarkets broadly segments the cloud collaboration market on the basis of the types of solutions. These solutions include enterprise content management, document management system, project management, enterprise social collaboration, unified communication, and others. The report also segments the services available in this market into professional, support and maintenance services. Basic business verticals analyzed in the report include BFSI, consumer goods and retail, healthcare and life sciences, government, telecommunication and Information Technology (IT), manufacturing, travel and hospitality, outsourcing and business services and such other verticals. The report also analyzes the major geographic regions of the market including North America (NA), Europe, Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA).
MarketsandMarkets believes that the concerns associated with customer data security are the strongest restraining factors for the cloud collaboration market. Issues with critical data storage on the cloud and technological and network related problems are expected to restrain the growth of this market in the immediate future. According to the report, these challenges carry significant potential of hampering the adoption rate of cloud collaboration solutions among numerous SMBs across a wide range of verticals.
The report expects the global cloud collaboration market to grow at a projected CAGR of 15.3% from 2014 to 2019. At this estimated growth rate, it expects the market to grow from $10.5 billion in 2014 to $21.3 billion in 2019. North America is expected to be the biggest geographic segment in terms of revenue contribution. Emerging markets like Middle East and Africa (MEA), Latin America (LA) and Asia-Pacific (APAC), on the other hand, are expected to emerge rapidly and with high CAGRs.
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