Thu. Dec 8th, 2022

RENO, Nev., Sept. 21, 2022 /PRNewswire/ — New Q2 data from Synergy Research Group shows that spending on premise and cloud collaboration grew 8% from 2021 and is now approaching $15 billion per quarter. The on-premise portion of the market continues to decline steadily and now accounts for only 20% of the total, down from 30% two years ago. While spending on hosted and cloud services continues to grow, it is a small group of high-growth services that are now is driving the market. These high-growth services include UCaaS, CCaaS, and CPaaS which collectively grew by 17% from last year and now account for well over $7 billion in quarterly spending.

Based on worldwide Q2 revenues Microsoft is the overall leader in total collaboration and continues to hold a steady market share, thanks to a broad portfolio of collaboration products and services. Cisco is the overall number two ranked vendor but is seeing its market share under pressure from Microsoft and companies propelled by the Covid pandemic. The biggest challenger is Zoom, which is now the number three ranked vendor driven by extraordinary growth rates over the last four years. Twilio is the fourth biggest vendor and now has a growth rate far in excess of the other three, as it dominates the rapidly emerging CPaaS market. Twilio’s CPaaS revenue run rate has now reached $2.5 billion per year. Other major vendors with particularly high growth rates include RingCentral, NICE, Five9 and Sinch.

“The impacts of the pandemic opened a tremendous new market opportunity within collaboration, especially in video conferencing services and devices, rapidly driving change that would otherwise have taken a decade to achieve,” said Jeremy Duke, Synergy Research Group’s founder and Chief Analyst  “The collaboration market continues to evolve rapidly, as new technologies and services emerge that increase both management capabilities and productivity of in-office, remote and hybrid workers.”

About Synergy Research Group

Synergy provides quarterly market tracking and segmentation data on IT and Cloud related markets, including vendor revenues by segment and by region. Market shares and forecasts are provided via Synergy’s uniquely designed online database SIA™, which enables easy access to complex data sets. Synergy’s Competitive Matrix™ and CustomView™ take this research capability one step further, enabling our clients to receive on-going quantitative market research that matches their internal, executive view of the market segments they compete in.

Synergy Research Group helps marketing and strategic decision makers around the world via its syndicated market research programs and custom consulting projects. For nearly two decades, Synergy has been a trusted source for quantitative research and market intelligence.

To speak to an analyst or to find out more about how to access Synergy’s market data, please contact Heather Gallo @[email protected] or at 775-785-3113.

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SOURCE Synergy Research Group



Article originally published at https://www.einpresswire.com/article/592006431/a-new-group-of-hosted-and-cloud-services-are-now-driving-the-collaboration-market

originally published at Finance - RSV News

This news story originally appeared at Finance - RSV News on 25 September 2022