Global Collaboration Tools Solution Market Overview
Companies that want to grow their business require effective collaboration solutions. The mobile workforce and the efficiency of business mobility are the two most important aspects that organizations need to achieve. Given this scenario, the global business collaboration services market is expected to publish a compound annual growth rate of XX%. The market is expected to reach USD XX billion per year by the end of 2025, which was worth USD XX in 2018.
Collaboration Tools Solution Market Drivers and Restraints:
In addition, the market should also benefit from the growing demand for comprehensive collaboration services. The increasing use of SIP trunks and the acceleration of WebRTC in KPO and BPO will expand the scope of market expansion. Through the development of advanced collaboration solutions, organizations can now provide better connectivity among stakeholders. With these factors, the global business collaboration services market will show strong growth during the forecast period.
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Collaboration Tools Solution Market Geographic Segmentation:
At the regional level, North America has become dominant in the global market for business collaboration services, with a share of 41.8% in 2015. With multinational companies in the United States and Canada to expand their regional footprint, Collaborations have become a common activity in this part of the world. Clearly, North America is achieving some of the most lucrative opportunities for the entire market. In addition, the region has for years been at the center of adopting well-designed collaborative tools, such as application sharing tools, video conferencing and audio software, and web services. This has helped the North American business collaboration market even more to gain ground.
However, the Asia-Pacific market will report a higher CAGR than its counterpart in North America and others. The growth observed in the region is mainly due to the growing number of small and medium enterprises in countries such as India, Japan and China. In addition, the rapid expansion of the IT industry observed in Asia-Pacific in recent years will boost the demand for automation in the various sectors, thereby strengthening market opportunities for business collaboration services.
Some of the key players operating in the market are Mitel Networks Corporation, Polycom, Inc., Fuze Inc., 8×8, Inc., ShoreTel Inc., Cafex Communications Inc., Tropo, Inc., Vonage networks LLC, Xura, Inc., Atlassian Corp PLC and GENBAND, Inc.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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