Cloud collaboration market to exceed $21 billion in 2018, report says

Collaboration has become a major aspect of cloud-based productivity tools that enable employees to use intuitive online solutions. The market for cloud-based collaboration applications is expected to generate more than $21 billion in revenue by 2018, an increase from slightly less than $4 billion in 2011, according to a report by WinterGreen Research.

This growth is largely driven by enterprises realizing they can achieve higher levels of collaboration at a lower price when accessing applications through a dedicated hosting service. These cloud-based solutions are much more complex than traditional premise-based services, yet they are easier to use and more are more enjoyable for inexperienced individuals, the report said.

As more organizations continue to allow employees to bring personal computing devices to work, decision-makers are realizing they need an interface that can support a wide variety of platforms without disrupting workers' ability to work together. As a result, organizations are implementing a cloud-based content delivery network, WinterGreen Research noted.

The global enterprise cloud market will expand at a compound annual growth rate of more than 16 percent through 2015, according to TechNavio. As innovative options continue to become available to businesses, more decision-makers will feel inclined to migrate to the cloud.

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