Global Cloud Communication Platform Market Highlights
The Cloud Communication Platform Market, is predicted to touch USD 51.37 Billion at a healthy 19.82% CAGR between 2020- 2030, reveals the latest Market Research Future (MRFR) report.
While the percolation of information technology infrastructure is becoming widespread, the demand for cloud communication platform is cementing its foothold. Additionally, digitalization integration provides momentum for the business of the cloud communication platform. Among the factors, with unparalleled speed, cost-effectiveness, the potential to promote online communication, and versatility will impact market growth of the cloud communication platform. In addition, the increasing phenomenon of bring-your-own-device (BYOD), combined with the focus on offering flexible job choices, is a favourable reflection on the market.
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Cloud networking systems are also experiencing rapid growth in comparison with traditional alternatives due to their superior offerings. Despite this, due to its weakness against the hackers, the cloud communication platform market may experience some setbacks. If infringed, it can disclose personal user information that can leash the market for cloud communication platforms.
Cloud Communication Platform Market Opportunities
Increasing Adoption in SMEs to Offer Robust Opportunities
Increasing adoption of cloud communication services in small & medium enterprises due to lower capital & operating expenditure may offer robust opportunities to industry players in the upcoming days.
Cloud Communication Platform Market Key Players
Eminent players impacting the cloud communication platform market are 8X8 Inc. (U.S.), West IP Communications Inc. (U.S.), Coms Care Ltd. (U.K.), Cisco Systems Inc. (U.S.), Hookflash Solutions Inc. (Canada), Telestax Inc. (U.S.), Plivo Inc. (U.S.), Avaya Inc. (U.S.), Nexmo Inc. (U.S.), Netfortis Inc. (U.S.), and others. Merger, acquisition, partnership, product creation, and other strategies are some strategic developments that enable companies to improve their plans and remain on the competitive market.
Cloud Communication Platform Market Segmentation
The global cloud communication platform market has been segmented by component, organization size, and vertical.
By Solution
- Solution
- Service
By Organization Size
- Small and Medium-Sized Enterprise (SME)
- Large Enterprise
By Vertical
- BFSI
- Healthcare
- Telecommunication
- Information Technology Enabled Service (ITES)
- Government
- Retail
- Travel and Hospitality
- Education
- Manufacturing
- Others
By Region
- North America
- Europe
- The Asia Pacific (APAC)
- Rest of the World (RoW)
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Cloud Communication Platform Market Regional OutlookBased region-specific study of the demand for cloud communication platforms leads to Asia Pacific ( APAC), North America, Europe and Rest of the World (RoW).
North America is the global market's leading power and is going to retain its position over the projected period. The area has become very accustomed to the structure needed for such technology. The technical advantage and deft management of the associated industries give an unparalleled lead to the regional market over the rest.
Europe takes second place. The Area shares common characteristics with North America. This stellar growth is attributed to the significant contribution in the research & development sector, which is creating wonders for market growth. The technology, which can act as a catalyst during the forecast era, also takes a lot of support from the BFSI sector.
The APAC region is experiencing first-rate growth, mainly due to the emergence of emerging economies such as China and India. Japan's economy also receives a lot of business support because its technical supremacy is an advantage to the business. In addition, the growing number of SMEs in the area leads to increased demand for cloud communication and BYOD, thus contributing to market growth over the review period.
Table Of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 16
2.2 Scope Of The Study 16
2.3 List Of Assumptions 17
2.4 Market Structure 17
3 Market Insights
4 Research Methodology
4.1 Research Process 23
4.2 Forecast Model 27
5 Market Dynamics
5.1 Overview 29
5.2 Drivers 30
Continued...
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