Sarasota, FL -- (SBWire) -- 06/27/2018 --Global Cloud Telephony Service Market: Overview

Cloud telephony is a kind of service by which data and voice services can be functioned utilizing an internet connection in the place of a conventional phone line. The cloud telephony service provides enhanced scalability to several key companies as they allow them to add-up several more channels. They also work on Public Switched Telephone Networks (PSTNs) and VoIP phone systems. The cloud telephony services can also work with no physical connection to any phone company since they function virtually.

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Global Cloud Telephony Service Market: Growth Factors

The global cloud telephony services market is majorly driven by the migration of the telecom key companies from conventional to IP networks. This shift is owing to the maximum return on investment as well as control abilities of the cloud telephony services. Furthermore, cloud telephony services are also expected to evolve as the most cost-efficient substitute to conventional telephony systems which comprises ISDN and PSTN, thus these aspects are expected to boost the market growth. The expenditure of installing several lines for the conventional telephone as well as internet services is projected to decrease as the data and voice are transferred above a single internet line.

In addition, escalating competition in the global cloud telephony services market is likely to influence several vendors to provide competitive pricing, as well as additional characteristics with their services, is expected to attract several customers, thus increasing the global market expansion.

Global Cloud Telephony Service Market: Segmentation

The global cloud telephony services market can be classified in terms of enterprise, deployment, application, network, end-use industry, and geography. Based on deployment, the global cloud telephony service market can be fragmented into hosted and cloud services. In terms of network, the global cloud telephony services market can be bifurcated into Voice over Internet Protocol (VoIP) and Public Switched Telephone Networks (PSTNs). Based on enterprise, the global cloud telephony services market can be categorized into large enterprises and small & medium enterprises (SME's). In terms of application, the global cloud telephony services market can be divided into multi-level IVR, conferencing, customer relationship management (CRM), sales & marketing and others. Based on end-user industry, the global cloud telephony services market can be classified into BFSI, telecom & IT, healthcare, government, education, media & entertainment, retail, and others.

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Global Cloud Telephony Service Market: Regional Analysis

North America is likely to be the most dominant region of the global cloud telephony services market. The region is likely to account for half of the global cloud telephony services market based on revenue share, and it is projected to continue its foremost position in the coming years. This is owing to the existence of several tech-savvy gadget end-users and increase in demand and requirement for superior communication services. The Asia Pacific market is projected to be a profitable province for the global cloud telephony services market owing to the evolution of big enterprises shifting toward these solutions. In addition, availability of low-price mobile cells, as well as tablets, are anticipated to augment the demand and requirement for the global cloud telephony services market in this province. On the other hand, various authoritarian compliances and restricted accessibility of competent internet connectivity communications are projected to hold back the global cloud telephony services market in Asia Pacific region. Europe is anticipated to be a quickly expanding province of the global market for cloud telephony services in the years to come.

Global Cloud Telephony Service Market: Competitive Players

Some of the most important market players in the global cloud telephony service market are Vox Telecom, AVOXI, 8x8, Inc., BroadSoft, DIALPAD, Cisco Systems, Inc., Go 2 Market India Pvt. Ltd., Exotel Techcom Pvt. Ltd., LeadNXT, Knowlarity Communications Pvt. Ltd., Microsoft Corporation, Megapath, Natterbox Ltd., Mitel Networks Corporation, Nextiva, NetFortis, NovaCloud Pty Ltd., NFON AG, PortaOne, Inc., NTT Communications, RingCentral, Inc., Redcentric plc., Solutions Infini., Singtel, Tripudio Ltd., Telviva, Vonage Intermedia.net, Inc., and VoIPStudio, among others.

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Global Cloud Telephony Service Market: Regional Segment Analysis

North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa