Community Cloud Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Community Cloud Market in 2021

The global community cloud market is expected to reach a market size of USD 4.26 billion by the end of 2021, with a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period from 2021 to 2026. The rapid adoption of community cloud solutions across various industries, such as healthcare, government, and retail, is driving the market growth.

COVID-19 Impact on the Community Cloud Market

The COVID-19 pandemic has significantly impacted the community cloud market, as organizations worldwide are shifting towards remote work environments and virtual collaboration. The demand for community cloud solutions has increased as companies look for secure and scalable platforms to facilitate communication and data sharing among employees and external stakeholders.

Community Cloud Dynamics

The community cloud market is witnessing dynamic growth due to the rising need for secure and customizable cloud solutions that cater to specific industry requirements. Organizations are increasingly opting for community cloud services to enhance collaboration, data sharing, and compliance with industry regulations.

Segments and Related Analysis

The community cloud market can be segmented based on deployment model, organization size, industry vertical, and region. By deployment model, the market is divided into public community cloud, private community cloud, and hybrid community cloud. Based on organization size, the market is categorized into small and medium enterprises (SMEs) and large enterprises.

By Region Analysis

In terms of regional analysis, North America is expected to dominate the community cloud market due to the presence of key market players and the early adoption of cloud technologies. Europe and Asia Pacific are also witnessing significant growth in the community cloud market, driven by increasing investment in digital transformation initiatives.

Key Market Players and Competitive Landscape

Some of the key players in the community cloud market include Salesforce, Cisco Systems, Microsoft Corporation, IBM Corporation, and Oracle Corporation. These companies are actively engaged in product development, partnerships, and acquisitions to strengthen their market position and expand their customer base.

Recent Happenings in the Community Cloud Market

- In January 2021, Salesforce announced the launch of new community cloud features to enhance customer engagement and collaboration. - In March 2021, Cisco Systems introduced a new community cloud platform for secure and scalable data sharing among organizations. - In May 2021, Microsoft Corporation acquired a community cloud solutions provider to expand its portfolio of cloud services. - In August 2021, IBM Corporation partnered with a leading industry association to promote the adoption of community cloud technologies. - In October 2021, Oracle Corporation announced a major investment in community cloud infrastructure to meet the growing demand for cloud services.