Report Ocean recently released a research report on the Cloud Telephony Service Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global cloud telephony service market size was US$ 19.10 billion in 2020. The global cloud telephony service market is forecast to reach the value of US$ 65.10 billion by 2030 by growing at a compound annual growth rate (CAGR) of 13.35% during the forecast period from 2021-2030.
Cloud telephony service enables data communication infrastructure for third-party. A third party can host multiple applications like storage, telecommunications, and switching through the cloud telephony service.
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Factors Influencing
Telecom companies are shifting from conventional ways to IP networks, thus enabling easy access to the power supply. Thus, it would fuel the growth of the global cloud telephony service market.
The cost-effectiveness of cloud telephony services, in comparison to conventional telephony services, acts as the main factor in the market growth.
The rising advent of digitalization and adoption of cloud services may influence the market growth in the coming years.
Lack of knowledge and security concerns may slow down the market growth during the forecast period.
The launch of advanced technologies in the global cloud telephony service market is forecast to propel market growth. Tata Tele business services recently introduced a cloud-based communication solution. The solution offers enterprises hybrid connectivity mainly between employees and consumers.
A growing number of R&D activities to improve security and efficiency may drive market growth in the coming years.
Geographic Analysis
Regionally, North America contributes with the largest share in the global cloud telephony service market. It is due to the growing developments. Moreover, the rising use of cloud computing technology and governments working on advanced IT infrastructure would propel regional growth in the global cloud telephony service market.
The cloud telephony service market would register notable growth in the Asia-Pacific region. It is due to the rapid urbanization, along with the rising adoption of technology. Moreover, the awareness regarding the cost efficiency of cloud-based services is increasing. As a result, it would boost the market growth in the future. The rising era of digitalization, technological development, mainly in emerging countries, such as India, would further amplify the growth of the cloud telephony service market.
COVID-19 Impact Analysis
The COVID-19 pandemic positively affected the global cloud telephony service market. As all the industries shifted their working to work from home, Cloud telephony services became one of the prominent demands. Businesses and companies began adopting cloud telephony services to set up a better communication link with call centers. Moreover, the cost efficiency and the efficiency of the cloud telephony services became other major reasons for the market growth during the pandemic period.
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Competitors in the Market
- Microsoft Corporation
- Cisco Systems
- Tele Logic8×8 Inc.
- BroadSoft Inc.
- Exotel Techcom Pvt. Ltd.
- DIALPAD
- Knowlarity Communications Pvt Ltd.
- Go 2 Market India Pvt. Ltd.
- Mitel Networks Corporation.
- Other prominent players
Market Segmentation
Insight by Organization Size
- Large Enterprises
- Small Enterprises
- Medium Enterprises
Insight by Deployment Type
- Cloud
- Hosted
Insight by End User
- Media & Entertainment
- Telecom & It
- Health Care
- BFSI
- Government
- Retail
- Education
- Others.
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Insight by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Cloud Telephony Service Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Cloud Telephony Service market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Cloud Telephony Service Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Cloud Telephony Service market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Cloud Telephony Service market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Cloud Telephony Service market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Cloud Telephony Service market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Cloud Telephony Service business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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