Global Market for Cloud Telephony Service is Anticipated to grow at a Substantial Rate i.e., USD 53.10 Billion during the Forecast Period 2021-2027

Published Date: Jun, 2021

The global cloud telephony service market is expected to witness a CAGR of 13.25% during the forecast period. The transformation of telecommunications companies to IP networks drives the global market for cloud telephony services. Moreover cloud telephony service market provides many benefits such as cost efficiency, call reports, business call tracking options, user-friendly interface, security over the network, and presence of virtual number service, because of which businesses around the world are adopting this service, resulting in the growth of cloud telephony service market   Nevertheless, data security, interoperability, and privacy concerns may hamper the market growth of cloud telephony services during the forecast period.

Enterprises are choosing cloud-based telephony services solutions to manage contact center operations during the COVID19 crisis so as to run daily operations remotely. The demand for cloud-based telephony services solutions is expected to increase in 2020 because of its flexibility, scalability, and low setup costs. Many companies in all walks of life have adopted a work-from-home model to protect employee well-being and maintain operational efficiency, thereby increasing the demand for cloud-based solutions.

Tata Tele business services have launched a cloud-based communication solution basically for enterprises, that offers hybrid connectivity across various platforms especially between various employees and customers.

Browse 53 market data Tables and 35 Figures spread through 201 Pages and in-depth TOC on " Cloud Telephony Service Market by Organization Size (Large Enterprises and Small and Medium Enterprises), by Deployment Type(Cloud and Hosted), by End User (Media & Entertainment, Telecom & IT, Healthcare, BFSI, Government, Retail, Education, and Others), and Region - Global Forecast to 2027"

By End-User, IT and telecom Sector Dominates the Cloud Telephony Service Market in 2020.

IT and telecom industries are anticipated to have their dominance in the global cloud telephony services market during the forecast period. The migration of telecom companies from traditional to IP networks results in a higher return on investment (ROI) and control capabilities of cloud telephony services. Moreover, using cloud telephony services allow users to access the cloud and work from any device they want. A high concentration of IT and telecom companies and network developments in the US are helping the adoption of cloud telephony services.

Global Cloud Telephony Service Market Segmentation Analysis

Segment

Categorization

Leading Category

Organization Size

Large Enterprises and Small and Medium Enterprises

Small and Medium Enterprises (Fastest)

 

Deployment Type

Cloud and Hosted

Cloud Deployment (Largest)

 

End User Type

Media & Entertainment, Telecom & IT, Healthcare, BFSI, Government, Retail, Education, and Others

 

Telecom & IT (Fastest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“North America to Retain Market Domination Over 2020-2027”

North America is anticipated to witness a dominant position in the cloud telephony services market due to the presence of tech-savvy gadget users and increasing demand for advanced communication services. Moreover, the presence of a large number of vendors in the US and Canada, strong IT infrastructure facilities, escalating demand for availing seamless customer services have facilitated the growth of the cloud telephony services market, thereby creating new opportunities for business growth in the region.

Some of the key players in the cloud telephony market are Microsoft Corporation, Cisco Systems, Tele Logic,8×8, Inc., BroadSoft, Inc., Exotel Techcom Pvt. Ltd., DIALPAD, Knowlarity Communications Pvt Ltd., Go 2 Market India Pvt. Ltd., and Mitel Networks Corporation.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2019

Base Year

2019

Forecast Period

2020–2027

Segments Covered in the Study

Organisation Size, Deployment Type, End User Type, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

MICROSOFT CORPORATION, CISCO SYSTEMS, TELE LOGIC, 8X8, INC
 BroadSoft, Inc., Exotel Techcom Pvt. Ltd., DIALPAD, Knowlarity Communications Pvt Ltd., Go 2 Market India Pvt. Ltd, Mitel Networks Corporation.

 

Global Cloud Telephony Service Market Coverage

Organization Size Insight and Forecast 2015-2027

  • Large Enterprises
  • Small and Medium Enterprises

Deployment Type Insight and Forecast 2015-2027

  • Cloud
  • Hosted

End User Type Insight and Forecast 2015-2027

  • Media & Entertainment
  • Telecom & IT
  • Healthcare
  • BFSI
  • Government
  • Retail
  • Education
  • Others

Geographical Segmentation

Cloud Telephony Service Market by Region

North America

  • By Organization Size
  • By Deployment Type 
  • By End User
  • By Country – U.S., Canada, and Mexico

Europe

  • By Organization Size
  • By Deployment Type  
  • By End User
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Organization Size
  • By Deployment Type
  • By End User
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Organization Size
  • By Deployment Type
  • By End User
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global Market for Cloud Telephony Service is Anticipated to grow at a Substantial Rate i.e., USD 53.10 Billion during the Forecast Period 2021-2027