Cloud Office Services Market Analysis

The global cloud office services market will touch USD 6,802.9 million at a 14.6% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Cloud office services are a suite of SaaS collaboration and communication tool which combines email, instant messaging, file sharing, conferencing, and document search, management, and discovery. The report contains detailed information on factors influencing demand, growth, opportunities, challenges, restraints, cloud office services market growth & forecast.

Various factors are fuelling the global cloud office services market growth. As per the recent MRFR market estimates, such factors include the growing adoption of cloud services across industry verticals and in all developing countries, use of cloud office services by employees for sending emails, cloud data storage, and video conferencing, the use of these services by employees in different devices such as smartphone, tablet, laptop, and desktop, increasing number of connected devices, rapidly increasing internet penetration, and growing number of employee-centric enterprises. The additional factors adding market growth include the adoption of BYOD policies, rising emphasis on mobility, the need for focusing on core business functions, and increasing need for reliability and scalability.

On the contrary, the impact of the COVID-19 pandemic and the concerns regarding data security may impede the global cloud office services market growth over the forecast period.

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Cloud Office Services Market Key Players

The prominent players profiled in the global cloud office services market report include

MediaAgility Inc
Rackspace
Quest Software Inc
Google
Xillio
Microsoft Corporation
AvePoint, Inc.
Zoho Corporation Pvt. Ltd
Evernote Corporation
US, Inc
Adobe
TERVELA CLOUD FAST PATH
HyperOffice
AvePoint Inc among others.
Cloud Office Services Market Segmentation

The MRFR report throws light on an inclusive segmental analysis of the global cloud office services market based on vertical, organization size, and component.

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By component, the global cloud office services market is segmented into cloud services professional services, cloud office services collaboration services, cloud office services migration tools, and cloud office services suite. Of these, the cloud office services suite will lead the market over the forecast period.

By organization size, the global cloud office services market is segmented into large enterprises and small and medium sized enterprises. Of these, the large enterprise will dominate the market over the forecast period.

By vertical, the global cloud office services market is segmented into government and public sector, energy, automotive and transportation, manufacturing, retail and consumer goods, healthcare and pharmaceuticals, IT and telecommunications, BFSI, and others. Of these, IT and telecommunications will spearhead the market over the forecast period.

Cloud Office Services Market Regional Analysis

By region, the global cloud office services market covers the recent trends and growth opportunity across Europe, North America, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will reign the market over the forecast period. The presence of a strong and firm customer base and leading vendors in the US, the growing adoption by enterprises across verticals, the presence of several technology giants, increasing adoption of cloud managed services, and initiatives undertaken by the federal government are adding to the global cloud office services market growth in the region.

In Europe, the global cloud office services market is predicted to have the second-largest share over the forecast period. Several governments working with different countries and organizations to increase cloud adoption, various government initiatives by the UK government, and increasing adoption of the BYOD trend are adding to the global cloud office services market growth in the region.

In the APAC region, the global cloud office services market is predicted to have admirable growth over the forecast period. Presence of developing countries-China and India, growing internet penetration, rapid adoption of cloud computing, increasing need for CMS, increasing employee productivity, growing adoption of cloud managed services by SMEs, and increasing investments by prominent players are adding to the global cloud office services market growth over the forecast period.

In RoW, the global cloud office services market is predicted to have sound growth over the forecast period.

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Report Overview:

Market overview highlights
Analysis based upon COVID 19
Explanation upon the Market Dynamics
Value chain analysis
Market segmentation overview
The regional analysis
Competitive landscape analysis
Recent Developments
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