According to a market research study published by Contrive Datum Insights, North America will continue to lead the market during the forecast period, Europe will grow at the highest growth rate in the global cloud communication platform market
Farmington, March 18, 2023 (GLOBE NEWSWIRE) — The Global Cloud Communication Platform Market Is Projected To Reach USD 51.37 Billion At A Healthy CAGR Of 19.82% Between 2022-2030. A cloud communications platform is a cloud-based delivery model that lets companies add real-time communications features like voice, video, and messaging to business applications by deploying application programming interfaces. It goes one step further than VoIP and UC by lowering the cost of equipment, providing higher-definition services of unmatched quality, and giving workers a platform with advanced features that let them work in ways and places they never thought possible.
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Cloud Communication Platform Market Recent Developments:
- In May 2016, Intralinks announced new integration and security features to enhance its content collaboration network that will address three of its customers’ challenges: global regulatory compliance, data privacy, and business acceleration beyond geographic boundaries
- In April 2016, Mitel announced Mitel MiTeam, a mobile-first team and social collaboration application with real-time integration. It provides a highly collaborative workspace for team-based communication, meetings, content collaboration, and project management.
- In December 2015, Salesforce and Box entered into a partnership to introduce Salesforce Files Connect for Box. It is a powerful solution that helps businesses become more collaborative, productive and connected. This partnership will allow Box users to seamlessly search, browse, share and collaborate on Box files from any device.
Cloud Communication Platform Market Dynamics:
Drivers:
Over the next few years, the market is likely to grow because of the rising demand for BYOD (bring your own device) systems in the corporate sector, where workers are told to bring their own devices to work instead of using company hardware. BYOD policies also offer a powerful central communication system that makes it easier and more convenient for people in different parts of the company to talk to each other. Another thing that is likely to help the market grow is that big companies are becoming more open to cloud services because they can give their employees real-time monitoring and better use of resources.
Opportunity:
During the forecast period, the cloud communication platform market will have a lot of chances to grow thanks to the growth of the business process outsourcing industry and the need for more freedom and scalability among businesses.
Restraints:
Growing worries about security and privacy, as well as the need to spend a lot of money, are likely to slow the growth of the market for cloud communication platforms over the next few years. Market growth will face major challenges from the need for more and better technology to keep up with changing customer habits and the need for workers to have the right skills.
Regional Outlook:
During the time frame of the prediction, North America will still be the market leader. The fact that it offers flexible work choices is making it more popular. Small, medium, and large businesses are also using it more. There are reputable players, many cloud-based service providers, and more businesses are using cloud services. Changes on a global scale in the area have helped the communication platform market grow.
The market for cloud communication platforms will grow the fastest in Europe. The growth of the global cloud communication platform market in this region is affected by a number of factors, including rising R&D spending, rising adoption in the BFSI sector, product differentiation among telecom service providers, and competitive pricing.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 19.82% from 2023 to 2030 |
| Revenue Forecast by 2030 | USD 51.37 Billion |
| By Type |
|
| By Applications |
|
| By Companies | Twilio, Tropo, Nexmo, Plivo, CallFire, Hookflash, Ifbyphone, Jaduka, CallHub, TelAPI, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Cloud Communication Platform Market Key Segments Covered:
Top Market Players:
Twilio, Tropo, Nexmo, Plivo, CallFire, Hookflash, Ifbyphone, Jaduka, CallHub, TelAPI, and Others.
Cloud Communication Platform Market by Types:
- Unified Communication and Collaboration (UCC/UCaaS)
- Web Real-Time Communication (WebRTC)
- Interactive Voice Response (IVR)
- Voice Over Internet Protocol (VoIP)
- Application Programming Interface (API)
Cloud Communication Platform Market by Applications:
- Logistics
- Customer Service
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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