Cloud Communication Platform Market Outlook 2022- Explains COVID-19 Impact, Share and Expert Review Data

The surge in demand for BYOD (bring your own device) systems in the corporate industry wherein employees are told to bring their own device to work rather than depending on the hardware of the company is likely to bolster the market growth over the forecast period.

Cloud Communication Platform Market Highlights

Cloud Communication Platform Market research report provides an analysis of specific challenges and opportunities from both the customer and the cloud services provider perspective. The report evaluates the general cloud service market as well as specific market opportunities within the healthcare, energy, insurance, entertainment, and financial services sectors. This market research study provides the market driving factors, market overview, industry volume, and market share and Cloud Communication Platform Market size with forecast details.

Global Cloud Communication Platform Market is predicted to touch USD 51.37 Billion at a healthy 19.82% CAGR between 2020- 2030, reveals the latest Market Research Future (MRFR) report.  

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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Cloud Communication Platform Market Key Players

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 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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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.

Key Points Covered in the Report:

  • The Cloud Communication Platform research assesses the industry’s share in terms of demand and supply, as well as volume.
  • The study mentions the market share acquired by each product category in terms of consumption value and volume.
  • The report meticulously discusses financial records of cumulative sales and overall income gathered by each product category.
  • The study includes information on the major organizations’ sales, product pricing methods, revenue shares, and gross margins.
  • The operational base of the listed enterprises throughout many locations, as well as their distribution methods, is considered.
  • There is also information on the market concentration ratio, partnerships, alliances, acquisitions, new rivals, and other significant changes. 

Major Points from TOC:

  • Global Cloud Communication Platform Overview
  • Executive Summary
  • Production and Capacity by Region
  • Production, Revenue, Price Trend by Type
  • Key Players Analysis

Continued…

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Animesh Rao

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