Cloud Communication Platform Market Trends
Regional analysis for cloud communication platform market is studied in different geographic regions such as North- America, Europe, Asia-Pacific and Rest of the World. North America is expected to be leading player as a majority of IT decision makers have adopted this technology which benefits the financial sector with lower capital expenditures. Europe is estimated to acquire second largest market share due to the initiatives developed by the European commission to promote adoption of cloud communication services.
The Cloud Communication Platform Market is growing rapidly over 26% of CAGR and is expected to reach at USD ~5.6 Billion by the end of forecast period.
Cloud Communication Platform Market Segmentation
The Cloud Communication Platform Market has been segmented on the basis of solution, service and vertical. The vertical segment includes IT & telecommunication, BFSI, manufacturing, healthcare, transportation and education. By vertical segment, cloud communication provides better collaboration in healthcare industry. It allows the healthcare professionals to store and analyze the data remotely which gains access to patient data immediately and apply immediate treatment on emergency. It also offers remote patient monitoring when the doctor or nurse is not present near the patient.
The cloud communication platform market has been segmented on the basis of solution, service and vertical. The vertical segment includes IT & telecommunication, BFSI, manufacturing, healthcare, transportation and education. By vertical segment, the education sector in rural areas is benefited by the cloud communication services by providing a web based cloud computing model which provides free education material to students such as video lectures, power point slides, e-books in order to hold the attention of the student. Teachers and students can store and manage their data through the dashboard provided by the cloud. Cloud storage can solve the problem of data management for many teachers and students.
According to Market Research Future Analysis, Cloud Communication Platform Market has been valued at USD ~ 5.6 Billion by the end of forecast period with ~26% of CAGR during forecast period 2017 to 2023.
Market Research Future (MRFR) recognizes the following companies as the key players in the Cloud Communication Platform Market are Cisco Systems Inc. (U.S.), West IP Communications Inc. (U.S.), Netfortis Inc.(U.S.), Telestax Inc. (U.S.), Avaya Inc. (U.S.), Nexmo Inc. (U.S.), Hookflash Solutions Inc. (Canada), Coms Care Ltd. (U.K.), 8X8 Inc. (U.S.), Plivo Inc. (U.S.), among others.
Market Research Analysis:
Cloud communication services offer numerous advantages to today’s businesses. These are beneficial for small and medium size companies as they adopt this emerging software easily without any requirement of purchasing it. The industry managers do not need to invest much in high performance computers as these services allow access to centralized applications which do not require to be installed locally. Since everything will be hosted in the cloud, a physical storage center is not needed.
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Cloud Communication Platform Market TrendsThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Communication Platform Market Trends.
The growth sectors of the Cloud Communication Platform Market Trends are identified with precision for a better growth perspective.The cloud communication platform market is cementing its foothold as the percolation of the information technology services is getting widespread.
Cloud communication enables telephone switching and manages various associated applications.
A new setup is not required, and the platform is quite adaptable to handle emerging communication technologies.
Market Research Future (MRFR) in their published report includes segmental analysis and driving factors that can potentially speed up market growth.
If breached, then it can reveal personal details of users which can put a leash on the cloud communication platform market.Segmental Analysis:The global cloud communication platform market can be segmented by solution, service and vertical.Based on the solution, the cloud communication platform market can be segmented into unified communication and collaboration (UCC), application programming interface (API), interactive voice response (IVR), web real-time communication (Web RTC), voice over internet protocol, and reporting Service-wise, the cloud communication platform market can be segmented into training & consulting support & maintenance, and managed services.Vertical-based segmentation of the cloud communication platform market includes IT & telecommunications, banking, financial services and insurance (BFSI), media & entertainment, healthcare, transportation, education, and others.Regional Analysis:Region-specific analysis of the cloud communication platform market leads to Asia Pacific (APAC), North America, Europe and Rest-of-the-World (RoW).North America is the leading force of the global market and is about to retain its position during the forecast period.
Global Cloud Communication Platform Market HighlightsThe Cloud Communication Platform Market is projected to grow at a CAGR of 24.8% during the forecast period.
As per the cloud communication platform market research report, the global market for cloud communication platform is anticipated to grow rapidly by US$5,706.8 million by 2023.
As per analysts, the growing trend of BYOD along with the high adoption rate of cloud computing will drive the market growth throughout the forecast period.
The cloud communication platform market research report by expert analysts is intended to help companies in the cloud communication platform market.Cloud Communication Platform Market Key PlayersEminent 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 SegmentationThe global cloud communication platform market has been segmented by component, organization size, and vertical.Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/2811The component segment comprises solutions and services, wherein based on the solution, the cloud communication platform market can be categorized into application programming interface (API), unified communication and collaboration (UCC), real-time web communication (Web RTC), interactive voice response (IVR), voice over internet protocol, and reporting Service-wise, the cloud communication platform market has been divided into training & consulting support & maintenance, and managed services.
The component segment is poised to acquire a CAGR of 24.1% over the review period.On the basis of the size of the organization, the market has been bifurcated into large enterprises and SMEs, wherein the large enterprises' segment is likely to observe a CAGR of 23.9% over the review period.The Vertical segmentation of the cloud communication platform market comprises IT & telecommunications, media & entertainment, healthcare, education, transportation, banking, financial services and insurance (BFSI), and others.
Global Cloud Communication Platform Market: By Component (Solution and Service), By Organization Size (Small and Medium-Sized Enterprise and Large Enterprise), By Vertical (Banking, Financial Services, and Insurance, Healthcare, Telecommunication and Information Technology Enabled Service, Government, Retail, Travel and Hospitality, Education, Manufacturing and Others) and Region - Forecast Till 2023Cloud Communication Platform MarketSegment analysis of the market has been conducted on the basis of component, organization size, vertical and region.By component, the market has been segmented into solution and service.
The solution segment is further sub-segment into web real-time communication (WebRTC), voice over internet protocol (VoIP), application programming interface (API), unified communication and collaboration (UCC/UCaaS), and interactive voice response (IVR).
The large enterprises segment held the predominant share of the market in 2017 and is expected to grow at 23.9% CAGR over 2023.
By using such platform, businesses can develop secure, reliable and interoperable communication capability.By vertical, the market has been segmented into BFSI, telecommunication and information technology enable service (ITES), retail, government, education, travel and hospitality, manufacturing and others.
Growth of the segment can be attributed to the increased digitization in the BFSI sector.
Meanwhile, the telecommunication segment is anticipated to exhibit the highest CAGR From 2018 to 2023.Get Complete Report @Cloud Communication Platform Market Research Report Size, Share, Trends Forecast 2023 | MRFRCloud Communication Platform Market was valued at USD 5,706.8 million in 2018 | Global Cloud…Read on marketresearchfuture.comGlobal Cloud Communication Platform Market: Regional OutlookThe market has been covered across Asia Pacific (APAC), Europe, North America, the Middle East & Africa (MEA) and Latin America.
November 22, 2018: In 2017, the global Cloud Communication Platform market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2018-2025.This report focuses on the global Cloud Communication Platform status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Cloud Communication Platform development in United States, Europe and China.The key players covered in this studyTwilioTropoNexmoDownload sample Copy of This Report at:https://www.radiantinsights.com/research/global-cloud-communication-platform-market-size-status-and-forecast-2018-2025/request-sample PlivoCallFireHookflashIfbyphoneJadukaCallHubTelAPIAccess This Full Report @ https://www.radiantinsights.com/research/global-cloud-communication-platform-market-size-status-and-forecast-2018-2025Market segment by Type, the product can be split intoUnified Communication and Collaboration (UCC/UCaaS)Web Real-Time Communication (WebRTC)Interactive Voice Response (IVR)Voice Over Internet Protocol (VoIP)Application Programming Interface (API)Market segment by Application, split intoLogisticsCustomer ServiceOthersMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Cloud Communication Platform status, future forecast, growth opportunity, key market and key players.To present the Cloud Communication Platform development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Cloud Communication Platform are as follows:History Year: 2013-2017Base Year: 2017Estimated Year: 2018Forecast Year 2018 to 2025For the data information by region, company, type and application, 2017 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
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