Cloud Telephony Service Market Statistics: 2027
Cloud telephony is used to move business phone systems to cloud instead of traditional call method. It is the smartest and most convenient way to manage business calls without compromising on quality and cost of calls. They are hosted by a third-party accessed over public internet and ensures that the businesses have a reliable communication, without putting extra burden on infrastructure and capex. It helps businesses to set up more streamlined, systemic, and controlled mode of communication with consumers. In addition, cloud telephony service provides several benefits such as attractive user interface, cost effectiveness, business call tracking, easy and quick setup, call reports, and security over network, owing to which enterprises across the globe are adopting this service, which fuels the cloud telephony service market growth.
COVID-19 Scenario Analysis:
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the global cloud telephony service market in 2020.
- To stop the spread of corona virus, all offices are shut down and businesses have shifted to online mode for their operations. Cloud telephony services help businesses to setup a proper communication with customers.
- Cloud telephony services help companies to set up call centers with zero investment and infrastructure to solve the rise in number of client queries efficiently.
- Overall, the pandemic is expected to have a positive impact on the global cloud telephony service market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Rise in shift of telecom companies from conventional to IP networks is the major factor that drives growth of the market. In addition, rise in penetration of mobile phone devices among end users fuel the market growth. However, data loss and privacy concerns hampers the market growth. Furthermore, rise in demand for software-as-a-service tools among various industry verticals is expected to provide lucrative opportunities for the global cloud telephony service market.
The market trends for global cloud telephony service market are as follows:
Surge in adoption of cloud services and telephony services:
Rise in adoption of telephony services while booking cabs, ordering food online, banking calls, or OTP calls drives growth of the cloud telephony service market. Growth of these sectors at a very fast pace across the globe has created demand for telephony services, which propels growth of the market.
North America expected to lead the market :
North America is expected to have the largest cloud telephony service market share during the forecast period, owing to early adoption if technological advancements and presence of prominent telephony service providers in the region. In addition, there is a high demand and requirement for superior communication services in the region, which also contributes to the market growth. Moreover, Asia-Pacific is also expected to witness a significant growth, owing to large number of enterprises adopting cloud telephony solutions.
Key benefits of the report:
- This study presents analytical depiction of the global cloud telephony service 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 the market share.
- The current market is quantitatively analyzed to highlight the global cloud telephony service market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the cloud telephony service market.
- The report provides a detailed cloud telephony service market analysis based on the present and future competitive intensity of the market.
Cloud Telephony Service Market Report Highlights
By Deployment Model
By End User
Key Market Players
Go 2 Market India Pvt. Ltd., AVOXI, LeadNXT, Exotel Techcom Pvt. Ltd., Knowlarity Communications Pvt. Ltd., DIALPAD, BroadSoft, 8x8, Inc., Microsoft Corporation, Cisco Systems, Inc.