Globally, the cloud telephony services market is expected to grow at a CAGR of 16.4% during the forecast period, 2018–2013. Global need of businesses to reduce operational costs and rapidly scale the communication solution as and when needed are the key driving factors for the growth of the market. However, lack of awareness, and availability of alternate communication systems are the major challenges in the cloud telephony services market during the forecast period.
Cloud telephony services solutions help enterprises to setup communication infrastructure without requiring hardware or software cost. In cloud telephony services, all communication devices and applications are hosted on cloud or at the service provider’s premises. It offers numerous benefits to an enterprise, such as zero investment in hardware or software, integration with CRM, quick and easy setup of an IVR, call center, and call recording. These services can be started using traditional phones, mobile devices, or computers/laptops.
Cloud telephony services solutions and services have a wide adoption in almost all industry verticals, such as Banking, Financial Services, and Insurance (BFSI), government, retail and consumer goods, healthcare, and IT and telecom. BFSI, retail and consumer goods, and IT and telecom are some of major industry verticals adopting the cloud telephony services to reduce its operational costs and serve its customers with advanced and seamless cloud communication technologies.
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The prominent players in Cloud telephony services market are AVOXI (US), Cisco Systems, Inc. (US), 8×8, Inc. (US), Broadsoft (US), Exotel Techcom Pvt. Ltd. (India), DIALPAD (US), Go 2 Market India Pvt. Ltd. (India), MegaPath (US), LeadNXT (US), and Knowlarity Communications Pvt Ltd. (India).
The global cloud telephony services market is segmented based on deployment mode, organization size, network type, application, industry vertical, and region/country.
By deployment mode, the market is segmented into cloud and hosted.
By organization size, the market is segmented into large enterprises and small and medium-sized enterprises (SMEs).
By network type, the market is segmented into Public Switched Telephone Network (PSTN) and Voice over Internet Protocol (VoIP).
By application, the market is segmented into conferencing, multi-level IVR, sales and marketing, and customer relationship management.
By industry vertical, the market is segmented into IT and telecom, BFSI, government, retail and consumer goods, heatlhcare, education, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.
The global Cloud Telephony Services Market is estimated to grow rapidly during the forecast period from 2018 to 2023. The geographical analysis of global cloud telephony services market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is presumed to have the largest market share in the global cloud telephony services market. The US, Canada, and Mexico are the leading countries in the region. The growth is attributed to the presence of major cloud telephony services solution vendors and advanced IT infrastructure to run enterprise applications and deliver services to the customers seamlessly. Asia-Pacific is anticipated to be the fastest growing region in the global cloud telephony services market over the forecast period. Increasing digitalization and adoption of cloud services to reduce operational costs are the key driving factors for the adoption of cloud telephony services solutions in the region.
According to the competitive analysis in the cloud telephony services market, most enterprises are observed to expand their technological capabilities by increasing investments in their research and developments activities. Many leading vendors adopted inorganic strategy to expand their businesses, wherein, new product/service launch accounted for XX%. The strategy of partnership and collaboration accounted for XX% of the overall key development undergone by the key players in the cloud telephony services market.
- Cloud telephony services providers
- Project managers
- IT Administrators
- Cloud service providers
- Network solution providers
- Communication service providers
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TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Outlook
LIST OF TABLES
Table1 Global Telephony Services Market, By Region, 2018-2023
Table2 North America Cloud Telephony Services Market, By Country, 2018-2023
Table3 Europe Cloud Telephony Services Market, By Country, 2018-2023
Table4 Asia-Pacific Cloud Telephony Services Market, By Country, 2018-2023
Table5 Rest Of The World Cloud Telephony Services Market, By Country, 2018-2023
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LIST OF FIGURES
FIGURE 1 Global Telephony Services Market: Segmentations
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Telephony Services Market
FIGURE 4 Value Chain Of Global Telephony Services Market
FIGURE 5 Share Of Global Telephony Services Market By Country, 2017
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