Frost Radar: Cloud Meetings and Team Collaboration Services Market, 2021
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In 2021 the global cloud meetings and team collaboration services market is expected to earn revenues of $14.78 Billion, a 23.7 percent increase over an already fantastic 2020 year
The installed base of paid cloud meetings and team collaboration paid licenses is expected to grow by 28.8 percent in 2021 to 241.5 million.
In the new era of hybrid work, employees want and need to work from anywhere, in their own style, and at their own pace. Many don't want to go back to their pre-COVID lives entirely.
The post-pandemic world is likely to be an extended version of the present workplace trends-whereby not only field teams, but everyone can be remote and yet stay connected and conduct business effectively.
Those working from home can no longer be treated as second-hand corporate citizens; businesses will need to leverage technology to enable more flexible, inclusive and immersive remote meeting experiences.
With businesses worldwide embracing hybrid work, it is imperative to provide meetings solutions that address the mix of in?person and remote participants across geographies with different native languages, and that are adaptable to different work styles.
Only excelling cloud meetings and team collaboration providers will help businesses to successfully transition to a hybrid working strategy.
The Frost Radar of the global cloud meetings and team collaboration services market analyzes providers offering cloud meetings and team collaboration services leveraging public, multi-tenant infrastructures.
This study includes public-cloud multi-tenant web/video meetings and team collaboration/messaging services as offered by the original service provider and do not include sales of third-party solutions.
The study also includes an updated global cloud meetings and team collaboration forecast, a detailed strategic imperative section, a competitive environment section, and major observations from the market.
In a field of more than 60 global cloud meetings and team collaboration providers, Frost & Sullivan independently plotted 20 growth and innovation leaders in this Frost Radar™ analysis.
The inclusion criteria for cloud meetings-centric providers comprise:
The inclusion criteria for team collaboration-centric providers comprise:
The inclusion criteria for UCaaS providers offering cloud meetings and/or team collaboration services comprise:
For UCaaS providers, Frost & Sullivan includes the paying licenses enabled with cloud meetings and/or team collaboration functionality of both stand-alone and telephony-integrated solutions
The research only includes cloud meetings services that are delivered from multi-tenant infrastructure. On-premises solutions and dedicated private-cloud services, as well as sales of software/media servers sold to service providers are excluded from the study
The study includes revenues from cloud meetings, as well as revenues from:
The study excludes:
Frost & Sullivan's revenue estimates shown for each provider reflect annual recurring revenues of cloud meetings, team collaboration or combined cloud meetings/team collaboration services
Revenue estimations exclude any workload component not directly related to meetings and team collaboration (e.g. telephony, productivity apps, CRM, contact center, etc.)