Cloud Communication Platform Market Share, Demand, Growth, Key Opportunities, Key Players and Industry Analysis By 2023 (SARS-CoV-2, Covid-19 Analysis)

Cloud Communication Platform Market

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the longterm growth projections in the MRFR report on Cloud Communication Platform Market. The growth sectors of the Email Security Market are identified with precision for a better growth perspective.

The cloud communication platform market is cementing its foothold as the percolation of the information technology services is getting widespread. In addition, integration of digitalization is providing traction to the cloud communication platform market. Cloud communication enables telephone switching and manages various associated applications.

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The communication gets a heads up with diverse types of communication such as video calling, texting, and voice over Internet convention (VoIP). What makes it the choicest is its ability to provide all this without much investment. A new setup is not required, and the platform is quite adaptable to handle emerging communication technologies. The cloud communication platform market is all set to grow with a 26% CAGR during he forecast period (2018-2023) and reach a stellar valuation of USD 5.6 billion market valuation. Market Research Future (MRFR) in their published report includes segmental analysis and driving factors that can potentially speed up market growth. Among the factors, cost-effectiveness, ability to facilitate web communication, and flexibility can impact the cloud communication platform market growth with an unprecedented thrust.

Despite so, the cloud communication platform market can witness some setbacks owing to its vulnerability against the hackers. If breached, then it can reveal personal details of users which can put a leash on the cloud communication platform market.

Segmental Analysis:

The global cloud communication platform market can be segmented by solution, service and vertical.

Based on the solution, the cloud communication platform market can be segmented into unified communication and collaboration (UCC), application programming interface (API), interactive voice response (IVR), web real-time communication (Web RTC), voice over internet protocol, and reporting &analytics.

Service-wise, the cloud communication platform market can be segmented into training & consulting support & maintenance, and managed services.

Vertical-based segmentation of the cloud communication platform market includes IT & telecommunications, banking, financial services and insurance (BFSI), media & entertainment, healthcare, transportation, education, and others.

Cloud Communication Platform Market Segmentation

The Cloud Communication Platform Market has been segmented on the basis of solution, service and vertical. The vertical segment includes IT & telecommunication, BFSI, manufacturing, healthcare, transportation and education. By vertical segment, cloud communication provides better collaboration in healthcare industry. It allows the healthcare professionals to store and analyze the data remotely which gains access to patient data immediately and apply immediate treatment on emergency. It also offers remote patient monitoring when the doctor or nurse is not present near the patient.

The prominent players in the Cloud Communication Platform Market are – are Cisco Systems Inc. (U.S.), West IP Communications Inc. (U.S.), Netfortis Inc. (U.S.), Telestax Inc. (U.S.), Avaya Inc. (U.S.), Nexmo Inc. (U.S.), Hookflash Solutions Inc. (Canada), Coms Care Ltd. (U.K.), 8X8 Inc. (U.S.), Plivo Inc. (U.S.), among others.

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