In accordance with this study, the Global Cloud Communication Platform Market value registered in 2022 was close to USD 7.09 BN and is predicted to outstretch revenue by USD 50.47 BN in 2030 with a CAGR of 27.8% during the period of 2023-2030.
Cloud communication platform is a cloud-based delivery model where voice, messages, and data are transferred in real time between two or more parties with the help of the internet by deploying application program interface (API). The cloud services provider act as primary data centers for enterprises and also offer customer's access to cloud storage.
Market Dynamics
The increasing adoption of organizations towards cloud-based services for customer-centric solutions and services is escalating the growth of cloud communication market. In addition to this, rising usage of cloud computing services because of its cost-effectiveness is further pushing the market growth. On the flip side, high investment cost to set up cloud services along with security & privacy concerns hinders the market growth.
The report has been created by using crucial tools such as Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity. These tools also serve the detailed information of each application/product segment in the global market of cloud communication platform.
Market Segmentation
The study offers a decisive view of the global cloud communication platform market by segmenting it in terms of solution, service, organization size, and vertical. The report analyzes these subsets with respect to the regional segmentation. This research study will prepare marketers for the evolving needs of their customers.
By Solution
- Unified Communication And Collaboration (UCC/UCaaS)
- Web Real-Time Communication (WebRTC)
- Interactive Voice Response (IVR)
- Voice Over Internet Protocol (VoIP)
- Application Programming Interface (API)
- Reporting And Analytics
By Service
- Training And Consulting
- Support And Maintenance
- Managed Services
By Organization Size
- Large Enterprises
- Small And Medium Enterprises (SME)
By Vertical
- BFSI
- Healthcare
- Telecommunication And ITeS
- Government
- Retail
- Travel And Hospitality
- Education
- Manufacturing
- Others
Regional Analysis
This section covers the cloud communication platform market for the regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Regional segmentation has been done based on the present and future trends in the global cloud communication platform market along with the individual application segment across all the prominent region.
Global Cloud Communication Platform Market Share by Region (Representative Graph)
This research report also includes profiles of major companies operating in the global market. Some of the prominent players operating in the global Cloud Communication Platform market are 8x8 Inc., Avaya Inc., Cisco Systems Inc., Twilio Inc., NetFortris Inc., West IP Communications Inc., Telestax Inc., Plivo Inc., CallFire Inc., And Nexmo Inc., IBM Corporation, Alcatel-Lucent, Mitel Networks Corporation, Genesys Telecommunication. This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.