The report "Cloud Communication Platform Market by Solution and Service (UCC/UCaaS, WebRTC, VoIP, IVR, API, Reporting and Analytics, and Training and Consulting, Support and Maintenance Service, and Managed Service) - Global Forecast to 2023", The cloud communication platform market is estimated to grow from USD 1.36 Billion by 2016 to USD 4.45 Billion by 2023
Pune, India -- (SBWIRE) -- 09/06/2018 -- Summary:
Latest Research Report on Global Cloud Communication Platform Market Added by Garner Insights which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production), & Consumption Analysis
The Cloud Communication Platform Market research study relies upon a combination of primary as well as secondary research. Cloud services is the most crucial aspect of cloud communication, and these services act as a main data center for enterprises. The cloud communications are Internet-based totally voice and data communication where telecommunications packages, switching and storage are hosted by a third-party through the cloud. This technology is emerged from data to voice with the introduction of VoIP (Voice Over Internet Protocol). Cloud communication platforms combine the advantages of the cloud with easy integration supplied through APIs. The products of this platform offers mobile developers the tools to connect their mobile apps to a phone's voice, video, SMS, MMS, and verification features through an API (Application Program Interface). The products helps developers to build custom APIs to customize how their products interact with these features. The elements supporting the growth of this market is rising use of APIs in UCaaS, cost effectiveness of cloud communication platform solutions. One more growing factors for this market are growing demand for BYOD (Bring Your Own Device), and rising demand for customer-centric solutions and services.
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Some of the major players profiled in this report include 8x8 Inc., Avaya Inc., Cisco Systems Inc., Twilio, NetFortris, Nexmo, West IP Communication, Telestax, Plivo, and CallFire. There are various different strategies adopted by the key players includes new product development, acquisitions, and expansion to strengthen the market position
Market Segmentation :
As per the segmentation of this market is bifurcated into different segments like by solution, by service, by organization size, by vertical, and by region. Unified Communication & Collaboration (UCC/UCaaS), Web Real Time Communication (WebRTC), Interactive Voice Response (IVR), Voice over Internet Protocol (VoIP), Application Programming Interface (API), and reporting & analytics are the solution of this market. The service segment is split into training & consulting, support & maintenance, and managed services. This platform is used in small, medium, and large scale businesses. The market are split into different end-user such as BFSI, healthcare, telecommunication & ITES (IT Enabled Services), government, retail, and others.
Cloud Communication Platform Market Segmentation
By Solution :
Unified Communication & Collaboration (UCC/UCaaS)
Web Real Time Communication (WebRTC)
Interactive Voice Response (IVR)
Voice over Internet Protocol (VoIP)
Application Programming Interface (API)
Reporting & Analytics
By Service :
Training & Consulting
Support & Maintenance
By Vertical :
Telecommunication & ITES (It Enabled Services)
The market is fragmented into number of regions such as North America, Europe, APAC, MEA, and Latin America. By regional analysis it is considered that North America holds the largest market share value, as the demand for this technology is rising due to rapid deployment, flexible, and low cost structure . Asia Pacific is considered to be the fastest growing region for this market, the major reason for high growth in this region is increasing demand for converged communications.
The main points which are answered and covered in this Report are-
What will be the total Cloud Communication Platformmarket size in the coming years till 2021?
What will be the key factors which will be overall affecting the industry?
What are the various challenges addressed?
Which are the major companies included?
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