Cloud Communication Platform Market Highlights
The 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 provides an in-depth analysis of the global cloud communication platform market and its organization size, components, and verticals segments. The technical limitations as well as critical security concerns are the factors which could affect the cloud communication platform market growth during the forecast period. The cloud communication platform market research report by expert analysts is intended to help companies in the cloud communication platform market.
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Competitive Dashboard
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.
The 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 analytics. 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. The BFSI segment is projected to capture a CAGR of 24.1% CAGR over the review period.
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Regional Outlook
Based 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.
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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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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.
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.
