Market Share of Cloud Collaboration Industry
The cloud collaboration market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. The major players with prominent shares in the market focus on expanding their customer base across foreign countries. The players are leveraging strategic collaborative initiatives to increase their market share and profitability. The companies operating in the market are also acquiring start-ups working on cloud collaboration technologies to strengthen their product capabilities. Some of the recent developments in the market are that in October 2022, Adobe announced the Adobe MAX, a creativity conference solution, the expansion of collaboration tools within Adobe Creative Cloud, and Document Cloud enabling new workflows that will empower creators to meet ever-growing content demands across multiple platforms. In August 2022, Microsoft Teams and Barclays Bank PLC announced that Barclays had deployed Microsoft Teams as its preferred collaboration platform, powering collaboration for more than 120,000 colleagues and service partners in key locations around the globe. Under the agreement, Barclays is streamlining its existing communications and collaboration solutions, with Teams replacing several previously used point solutions across the company.
Cloud Collaboration Market Leaders
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Microsoft Corporation
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Cisco Systems Inc.
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Oracle Corporation
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HighQ Solutions
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IBM Corporation
*Disclaimer: Major Players sorted in no particular order
