The Europe cloud collaboration market is estimated to record a CAGR of 14.86% during the forecast period, 2021-2028. The cloud storage and collaboration tools are increasingly adopted by businesses using the cloud for emails, and by those using automation and streamlining solutions like ERP. Also, the majority of companies are engaged in cloud-based technologies.
The Europe cloud collaboration market growth analysis includes the evaluation of Russia, Italy, France, Belgium, Poland, the United Kingdom, Germany, and Rest of Europe. In Germany, enterprises are anticipated to adopt the cloud for the execution of digital business strategies. This has prompted several market players in the region to come up with innovative cloud collaboration solutions. In Italy, a diversified export ecosystem and strong industrial sector have aided in its stable growth.
Moreover, the COVID-19 impact has resulted in increased preferences for cloud services. Many market players like Microsoft reported a substantial increase in the monthly users in places like Italy, where shelter-in-place and social distancing measures have been established. In Russia, cloud services are leading from the front, and have gained the interest of small and medium-sized businesses. The Russian banks are actively introducing the services into their business processes, along with active investments. Such factors are set to influence the growth of the market.
Some of the eminent companies in the market are Hyperoffice, Salesforce.Com Inc, Atlassian Corporation Plc, Adobe Systems Incorporated, Intralinks Holdings Inc, etc.
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