Global Cloud Telephony Service Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
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“Global Cloud Telephony Service Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global cloud telephony service market report has been segmented on the basis of deployment type, network, application, end-use industry, and region.
Global Cloud Telephony Service Market: Overview
Cloud telephony service helps voice and data transfer tasks to be performed with the help of available internet connection, this service avoids the traditional method of using phone line to transfer voice or data packets. This transmission of data and voice packets is done with the help of some networks such as public switched telephone network and Voice over internet protocol systems. The cloud telephony service is also able to work without any physical connectivity to phone companies as they work virtually.
Global Cloud Telephony Service Market: Dynamics
Rising demand from emerging countries and shift of telecom companies from traditional method to IP networks are major factors expected to drive growth of the global cloud telephony service market. In addition, cloud telephony service provides much better experience than that of conventional method at low cost is a factor anticipated to drive growth of the global cloud telephony service market. Cloud telephony service offers various benefits such as attractive user interface, easy and quick to setup, business call tracking, selectable virtual number service, call reports, and security over network while transferring data and voice packets are additional factors projected to boost growth of the global cloud telephony service market.
Moreover, increasing permeation of mobile devices and rising demand for SAAS tools are factors expected to drive growth of the global cloud telephony service market. Increasing competition among leading vendors resulted into providing better service with low cost that is expected to attract more consumers. Increasing investments by leading players in order to enhance existing system is another factor expected to drive growth of the global cloud telephony service market.
However, risk related to data loss over internet and privacy related concerns are major factors expected to hamper growth of the global cloud telephony service market. Increasing cyber-attacks is another key factor expected to hamper growth of the global cloud telephony service market.
Global Cloud Telephony Service Market: Segment Analysis
Among end-use industry segments, the telecom and IT segment is projected to account highest revenue share in the global cloud telephony service market. Rapid shift in adoption of cloud telephony service over traditional method in various enterprisers has resulted into high demand for cloud telephony service in the telecom and IT segment.
Global Cloud Telephony Service Market: Region Analysis
North America market is expected to account for highest revenue share in the global cloud telephony service market. This is due to presence of key players in countries in this region and high demand for enhanced communication service. North America market is followed by Asia pacific due to increasing adoption of cloud telephony service in countries such as India and China.
Global Cloud Telephony Service Segmentation:
Segmentation by Deployment Type:
Segmentation by Network:
- Public Switched Telephone Networks (PSTNs)
- Voice over Internet Protocol (VoIP)
Segmentation by Application:
- Multi-level IVR
- Sales & Marketing
- Customer Relationship Management (CRM)
Segmentation by End-use Industry:
- Telecom and IT
- Health Care
- Media and Entertainment
- Others (Education and Retail)
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- 8x8, Inc.
- AVOXI, Inc.
- BroadSoft, Inc.
- Cisco Systems, Inc.
- Exotel Techcom Pvt. Ltd.
- Go 2 Market India Pvt. Ltd.
- Knowlarity Communications Pvt Ltd.
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