HOME › Press Releases › Cloud Communication Platform Market worth 4.45 Billion USD by 2021
Cloud Communication Platform Market worth 4.45 Billion USD by 2021
The report "Cloud Communication Platform Market by Solution and Service (UCC/UCaaS, WebRTC, VoIP, IVR, API, Reporting and Analytics, and Training and Consulting, Support and Maintenance Service, and Managed Service) - Global Forecast to 2021", The cloud communication platform market is estimated to grow from USD 1.36 Billion by 2016 to USD 4.45 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 26.8% from 2016 to 2021.
Browse 69 market data Tables and 48 Figures spread through 164 Pages and in-depth TOC on "Cloud Communication Platform Market by Solution and Service (UCC/UCaaS, WebRTC, VoIP, IVR, API, Reporting and Analytics, and Training and Consulting, Support and Maintenance Service, and Managed Service) - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
The tremendous growth of the Business Process Outsourcing (BPO) sector and its inclination towards cloud-based solutions and the significant requirements of business organizations for greater flexibility/scalability have provided immense opportunities to the cloud communication platform solution and service vendors, who cater the business organizations with advanced cloud communication platform solutions.
“The reporting and analytics solution is expected to show a significant growth during the forecast period”
The reporting and analytics solution is expected to grow at the highest CAGR and the Unified Communication and Collaboration (UCC/UCaaS) solution is expected to have the largest market share during the forecast period. The reporting and analytics solution helps in tracking the data related to the usage of calls and SMS delivery status, such as the time of the call, duration of the call, result of the call, confirmation of message delivery, explanation of delivery failure, and others. The UCC/UCaaS solution is expected to have the highest market share because it enables seamless and unparalleled communication among the employees irrespective of their location or device further eliminating the communication complexities.
“Asia-Pacific (APAC) is expected to be the fastest-growing region in geographical segmentation of the cloud communication platform market.”
Considering the regional analysis of the cloud communication platform market, North America is projected to hold the largest market share. The market in APAC is in the growth phase and is the fastest-growing region for the global cloud communication platform market. The key reason for the high growth rate in this region is the increasing demand for converged communications and product differentiation among the service providers.
There are various companies that are coming up with innovative and efficient cloud communication platform solutions and services. The major vendors providing cloud communication platform solutions and services are 8x8, Inc.; Avaya, Inc.; Cisco Systems, Inc.; Twilio; NetFortris; Nexmo; West IP Communication; Telestax; Plivo; and CallFire.
The scope of the report covers detailed information regarding the major factors influencing the growth of the cloud communication platform market, such as drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, partnerships, collaborations, expansions, and competitive landscape associated with the cloud communication platform market.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India