The enterprise collaboration market is expanding as remote work becomes prevalent. Cloud solutions are favored, with Asia Pacific leading growth due to digitization.
The upcoming report by Fairfield Market Research suggests that the global enterprise collaboration market is expected to rise in the coming years as virtual offices replace physical spaces. Growing demand for remote collaboration has pushed the market to remain on an upward trajectory since the pandemic unfolded. It prompted companies to invest in sophisticated cloud-based services to accelerate collaborative work in a safe and secure way. Smoother ways of connecting and collaborating via e-mails, video conferencing, document sharing tools, and project management tools are expected to remain the primary focus of end users are businesses scale up operations with the revival of the economy.
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Adoption of “Work From Home” Policy Opens Doors for Enterprise Collaboration
As 2020 brought with it a halt to all operations, businesses had to make an overnight shift in their approach. Quick implementation of “work from home” policy created an unparalleled demand for collaborative tools, pushing for the adoption of cloud-based enterprise collaboration solutions and services. From web conferencing tools to document management systems, operating all businesses operating with enterprise collaboration tools became a convenient system, saving millions for the companies whilst keeping the employees safe. As the pandemic spelt a new way to work, the demand for enterprise collaboration is expected to grow exponentially between the forecast years of 2021 and 2025.
Cloud-Based Solutions to be Top Choice of Deployment
The pay-per-use service model offered by cloud-based service providers has been the key driving factor for this segment. Complete elimination of the upfront capital expenditure in installing the on-premise enterprise collaboration software has led to massive savings, giving the end users a chance to divert it towards meaningful allocation. The demand for cloud-based deployment will also have a positive outlook in the coming years as they cut down on the costs related to updating and upgrading solutions as the service absorbs them. Thus, as business environment change diametrically, it is only obvious that the demand for refined enterprise collaboration tool operating on the cloud is expected to see a phenomenal demand.
On the flip side, the global enterprise collaboration market is likely to be hampered by the poor connectivity in emerging economies. The slow pace of the internet and lack of infrastructure in rural areas are expected to act as a hurdle as they lead to low-quality audio and retarded pace of file transfers. However, the 5G rollout is expected to present lucrative opportunities to the global enterprise collaboration market during the forecast period, predicts Fairfield Market Research.
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Asia Pacific to Pace Ahead as Volume of Employees and Students Remains Unparalleled
According to the upcoming study by Fairfield Market Research, the Asia Pacific enterprise collaboration market is anticipated to grow at a breakneck pace. The sheer volume of employees and government initiatives towards digitization are expected to be the predominant factors driving this regional market. A markedly high student population, presence of various multinational, and strong IT sectors, especially in India are expected to keep the spirit of the Asia Pacific enterprise collaboration market buoyant between the forecast years of 2021 and 2025.
Some of the key players operating in the global enterprise collaboration market are Microsoft, IBM, Cisco, Google, Adobe, Citrix, Facebook, Slack, Salesforce, and Atlassian.
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The article discusses the growth of the global enterprise collaboration market driven by remote work and cloud-based solutions.
The Asia Pacific market is expected to grow rapidly due to a large workforce and government digitization initiatives.
Poor connectivity in emerging economies may hamper growth, but the 5G rollout offers potential solutions.
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