Cloud Communication Platform Market Estimated to Reach USD 5775 Million from telecom Industry during the Forecast Period till 2022

Cloud Communication Platform Market
Cloud Communication can host telephone switching, and telecommunication applications.. Cloud communication platforms give a cloud based platform to cutting edge communication functionalities, for example, video calling, texting and voice over Internet convention (VoIP).

Absolute Markets Insights offers latest published report ‘Cloud Communication Platform Market conquer the cost and unbending nature of conventional communication frameworks. The platforms incorporate developing innovations into a solitary application, hence bypassing the problem of coordinating different administrations of numerous sellers. As of late, communication has developed from independent voice calling to video calls and VoIP. Global Insights, Industry Trends, Price Trends, Growth, Size, Supply, Demand, Comparative Analysis, Competitive Market Share and Forecast, 2018-2026’The author of the report analyzed that the global cloud communication platform market accounted for US$ 1691.65 million in 2017. The solutions offer organizations with development, processing and data storage capabilities in the cloud and deliver the flexibility that is usually needed by organizations in order to enable growth and expansion.

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Cloud Communication can host telephone switching, and telecommunication applications.. Cloud communication platforms give a cloud based platform to cutting edge communication functionalities, for example, video calling, texting and voice over Internet convention (VoIP). Conventional communication frameworks are expensive on account of the costly equipment they require and are less adaptable to latest communication methods scuh as  video conferencing and VoIP administrations,. Cloud communication platforms steal a march over them on account of being cost-effective – since they do not require investing in the entire setup replete with various equipment, and are more adaptable to emerging communication functionalities.

Telecommunication and ITES Anticipated to be the Dominant Segment During the Forecast Period, 2018-2026

Amongst the vertical, telecommunication and ITES is a dominant segment holding the largest market share. Through cloud communication platform, employees can improve their productivity and can work faster and more efficiently. There is an increasing demand for this market across various enterprises due to changing business conditions as it offers easily managed communication services. These are factors expected to increase the adoption of cloud communication platform in healthcare industry.  

Rising Need for Big Data Across Various Enterprises to Drive the Market in Asia Pacific

Asia Pacific is estimated to be the fastest growing region in cloud communication platform market. This rapid market growth in this region is mainly driven by the factors such as rising need for big data, and organizations switching to third-party service providers to better address their security concerns. Besides, increasing migration to cloud platforms due to complex workloads is also projected to drive market growth in this region. 

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Cloud Communication Platform Market is Fragmented with the Presence of Global and Regional Players

Some of the key participants in global cloud communication platform market are 8×8, Inc., Alcatel-Lucent, Avaya, Inc., Callfire, Cisco System, Inc. (Cisco), Genesys Telecommunications Laboratories, Inc., Huawei Technologies Co. Ltd., IBM Corporation, Intelepeer, Microsoft Corporation, Mitel Networks Corporation (Mitel), Netfortris, Inc. (Netfortris), Nexmo, Inc., Ozonetel Systems Pvt. Ltd., Plivo, Inc., Telestax, Inc., Twilio, Inc., VOIP INNOVATIONS, West IP Communications, Inc. amongst others. In February 2017, Netfortris, Inc. entered into a definitive agreement to acquire Fonality, Inc. The acquisition will allow the company to enhance its service portfolio to include UCaaS and VOIP services and thereby offer superior enterprise communication solu-tions and managed network services.

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Cloud Communication Platform Market – By Solution

Unified Communication and Collaboration (UCC/UCaaS)

Web Real-Time Communication (WebRTC)

Interactive Voice Response (IVR)

Voice Over Internet Protocol (VoIP) 

Application Programming Interface (API) 

Reporting and Analytics

Cloud Communication Platform Market – By Service

Training and Consulting

Support and Maintenance

Managed Services

Market By Vertical

Banking, Financial Services, and Insurance

Healthcare

Telecommunication and ITES

Government

Retail

Travel and Hospitality

Education

Manufacturing

Others

Market By Region

North America

Europe

Asia Pacific

Middle East and Africa

Latin America

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