The growth of cloud collaboration market explained

Steadily and surely, factors such as growing use of cloud-based services, an increasing adoption of BYOD (Bring Your Own Device) along with growing use of smartphones, tablets and other electronic devices for work, are major contributors to the growth of cloud collaboration market.

BFSI sector is the major end-user of cloud collaboration solutions as it allows secured exchange of business information with the partners, clients, and customers.

Cloud Collaboration Market is estimated to grow from US$21.353 billion in 2015 to US$46.089 billion by 2021, at a CAGR of 13.68% over the forecast period, by According to Research and Markets.