Cloud Communication Platform Market Statistics: 2027
Cloud communications platform is a cloud-based delivery model that allows organizations to add real time communication capabilities, such as voice, video and messaging, to business applications by deploying application program interfaces. It goes farther than VoIP and UC to reduce equipment costs, provide higher definition services with unmatched quality, and deliver a platform of advanced features that allow employees to work in ways and places they never imagined.
COVID-19 scenario Analysis:
- The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted the supply chain of electronic components & networking equipment. Thus, this has led to delay in supply of electronic components required in manufacturing of equipment.
- It is expected that the U.S. and global tech market growth is slowing down to nearly 2% in 2020, due to which ICT spending in major economies such as the U.S. have declined in the first half of 2020, but it is expected to recover in the second half.
- In addition, there is a notable ramp-up in technologies such as work-from-home infrastructure, collaboration tools, virtualization infrastructure, VPN networking, mobile devices, security, desktop support and zoom during the COVID-19. Interest for video conferencing solution is surging during the crisis. This generates large amount of data and will require high end technologies to analyze.
- Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions will be just a short-term phenomenon. In the medium-to-long run the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rise in adoption of cloud-based solutions, cost effectiveness of cloud communication platform solutions, rise in mobility, and growing trend of bring your own device devices drives growth of the cloud communication platform market. However, high initial cost, 3rd party dependence, lack of security is expected to hinder the growth of the market. In addition to this, growing adoption in small and medium enterprise, along with rise in usage of video calling and conferencing is expected to provide lucrative opportunities for the market.
Removes Physical Barrier:
The biggest key driving factor of this cloud communication platform market is that cloud has removed all physical barriers, which was a great challenge for the organization. Built on the physical infrastructure laid down for the internet and supported by wireless technologies like 4G, the cloud has created an alternative virtual plane for data sharing and communication and hence the organization are able to see this huge benefit which in turns driving the growth of this market.
Lack of security:
Cloud hacking cases and cyber threats are some of the major challenge for this market. Organizations can’t afford to have sensitive information about the company or client fall victim to hackers. The small and medium enterprise hesitates to move towards the cloud communication due to the lack of security and cyber threats which is hindering the growth of the cloud communication platform market
Simplification of offerings:
Organizations are able to see a huge growth with adoption of cloud communication with adding more tools, apps, and devices supposed to improve communication. However, organizations are expected to see further integration with offerings of providers, everything from device to application as one complete service for all communication needs.
Key benefits of the report:
- This study presents the analytical depiction of the global cloud communication platform market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global cloud communication platform market share.
- The current market is quantitatively analyzed to highlight the global cloud communication platform market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the cloud communication platform market.
- The report provides detailed cloud communication platform market analysis based on competitive intensity and how the competition will take shape in coming years.
Cloud Communication Platform Market Report Highlights
By Component Type
By Deployment Type
By Organizational Size
By Industry Vertical
Key Market Players
Twilio Inc., Nexmo Inc., Avaya Inc., West IP communication Inc., Nokia Corp ., Netfortis Inc., Cisco Systems Corp, Pilvo Inc., 8*8 Inc., Telestax Inc.