Virtual Collaboration Market Share

Geographically, the virtual collaboration market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. Asia Pacific industry is poised to dominate majority revenue share by 2037, owing to increasing awareness about modern & innovative technologies and increase in expenditure on related infrastructure in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the increase in demand for virtual collaboration, accompanied by the growing trend among organizations to enhance their communication systems and boost employee productivity in the region. Along with this, North America also leads in terms of high-speed internet connectivity, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the virtual collaboration market on account of increasing demand for efficient communication technologies and consequent technological development in the region. As per the analysis of European Commission, it is estimated that in 2019, around 90% of EU-27 households had internet access in the European Union.