The cloud communication platform market is cementing its foothold as the percolation of the information technology services is getting widespread. In addition, integration of digitalization is providing traction to the cloud communication platform market. Cloud communication enables telephone switching and manages various associated applications. The communication gets a heads up with diverse types of communication such as video calling, texting, and voice over Internet convention (VoIP). What makes it the choicest is its ability to provide all this without much investment. A new setup is not required, and the platform is quite adaptable to handle emerging communication technologies. The cloud communication platform market is all set to grow with a 26% CAGR during he forecast period (2018-2023) and reach a stellar valuation of USD 5.6 billion market valuation. Market Research Future (MRFR) in their published report includes segmental analysis and driving factors that can potentially speed up market growth. Among the factors, cost-effectiveness, ability to facilitate web communication, and flexibility can impact the cloud communication platform market growth with an unprecedented thrust.
Despite so, the cloud communication platform market can witness some setbacks owing to its vulnerability against the hackers. 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 &analytics.
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.
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 prominent players in the Cloud Communication Platform Market are – 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.
Regional analysis for cloud communication market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of the World. The study reveals that North America would evolve as a leader in cloud communication platform market because of increase in demand of companies adopting mobile friendly cloud communication applications in order to manage the business data. Europe is expected to be the second largest region due to the adoption of cloud communication services such as infrastructure, platform and software as a service in e-Government which are adopted for national government use.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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