The global cloud telephony service market is expected to reach USD 42.3 million by 2025 from USD 30.7 million in 2017 and is projected to grow at a CAGR of 16.9% in the forecast period of 2018 to 2025. The report includes market shares of cloud telephony service market for global, Europe, North America, Asia Pacific and South America.
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The global market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The renowned players in cloud telephony service market are
- StarTele Logic
- 8×8, Inc.
- Cisco Systems, Inc.
- Exotel Techcom Pvt. Ltd.
- Go 2 Market India Pvt. Ltd.
- Knowlarity Communications Pvt Ltd.
- LeadNXT, Megapath
- Microsoft Corporation
- Mitel Networks Corporation
- Natterbox Ltd.
- NFON AG
- NovaCloud Pty Ltd.
- NTT Communications
- PortaOne, Inc.
- Redcentric plc.
- RingCentral, Inc.
Other players are Singtel, Solutions Infini., Telviva, Tripudio Ltd., VoIPStudio, Vonage Intermedia.net, Inc., Vox Telecom and many more. The cloud telephony service market report contains data for historic year 2016, the base year of calculation is 2017 and cloud telephony service Industry forecast period is 2018 to 2025.
- In 2017 Extol launched cloud telephony services for stockbrokers to be SEBI-compliant. It is a cloud telephony platform which records every single conversation. It helps in business phone system via a virtual phone system.
- In 2017, Servetel Communications Pvt. Ltd., launched cloud telephony services to India. It will increase the demand for advanced communications capabilities and bring a fresh new range of connectivity solutions into the field.
Cloud telephony is defined as a service which helps data and voice services to be functioned by the use of internet connection by replacing conventional phone line. It is an online communication system with on-demand service. It deals with different networks including Public Switched Telephone Networks (PSTNs) and VoIP phone systems. It has various features such as quick and easy setup, user friendly, secured and API integration to any CRM, business call tracking, call reports, 3rd party CRM integration, selectable virtual number and many more. The cloud telephony service provides improved scalability to several key companies as they allow them to add-up several more channels. The cloud telephony services can also work without physical connection to any phone company since they function virtually.
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Market Drivers and Restraints:
- Migration of telecom companies from traditional to IP networks. Rising access to electricity in developing countries
- Cost-effective alternative to traditional telephony systems including PSTN and ISDN
- Rising penetration of mobile devices
- Increasing demand for SAAS tool.
Market Segmentation: Global Cloud Telephony Service Market
- The market is based on
- Based on deployment type, the market is segmented into
- Based on Enterprise, the market is segmented into
- Based on Network, the market is segmented into
- Based on Application, the market is segmented into
- Based on End user Industry, the market is segmented into
- Based on geography, the market report covers data points for 28 countries across multiple geographies such as
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
- Deployment type
- End user industry
- Geographical segments
- Small & Medium Enterprises (SMES)
- Large Enterprises
- Public switched telephone networks (PSTNs)
- Voice over internet protocol (VoIP)
- Multi-level IVR
- Sales & marketing
- Customer relationship management (CRM)
- Telecom And IT
- Health Care
- Media And Entertainment
- Retail, And Others
- North America
- South America
- Middle East & Africa
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