North America Cloud Communication Platform Market is expected to reach US$ 5,592.5 Mn by 2027

The "North America cloud communication platform market" was valued at US$ 1,106.6 million in 2019 and is projected to reach US$ 5,592.5 million by 2027; it is expected to grow at a CAGR of 22.6% from 2020 to 2027.

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Cloud communication platforms help overcome the issues related to high costs and inflexible nature of traditional or old type communication systems. The platforms combine developing technologies into a single type platform, thus minimizing the disturbance of integrating multiple services offered by several vendors. In the recent times, communication has changed from separate voice calling to video calls or voice over internet protocol (VoIP). The transformed methods of communications can easily be managed and controlled through cloud communication platforms. The platforms might offer secured service vendors, including net banking and social media, with two-way authentication for expending its services. Further, the increasing adoption of real-time web communication and technological advancements and upgrades in cloud technology are expected to drive the growth of the cloud communication platform market in the coming years.

The Cloud Communication platform market in North America region is antiquated to offer ample revenue opportunities to players, attributed to the existence of widespread communication technologies as well as the world's leading providers such as 8x8, Inc, Avaya Inc, Cisco System Inc, Callfire, Netfortis, Plivo Inc, Telestax Inc, Twilio Inc, Nexmo Inc, West IP Communication Inc . The businesses across North America region are making several efforts to create flexible work options, cloud communication platforms is becoming more famous across the region. In North America, adoption of such platforms has been high in for both large enterprises and as well as SMEs. The presence of popular cloud communication platform market player in region is also viewed as a favourable factor for the growth of the market.

Cloud IoT platforms facilitates stable and secured communication between devices and IoT platform. The cloud IoT platform provides several security features that ensure individual device security. It further offers data storage and processing capabilities, which permit the combination of APIs and other Cloud services. With the integration of IoT platforms with cloud communication platforms, various advantages are offered such as it maintains the hundreds of millions of devices, permits millions of devices to communicate with the IoT Platform at the same time, and guarantees 99.9% availability and accuracy.

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The cloud communication platform market has ample revenue opportunities due to the large spend on cloud services by large enterprises in the USA and Canada, due to the several initiatives taken by organizations across North America to adopt the latest digital technologies (digital transformation plans). The high Internet penetration across North America, along with government agencies moving partially to the cloud communication to enhance information services is also likely to drive the North American cloud communication platform market. Morever, Small to medium enterprise are at the forefront of this growth and are expected to continue to be the most significant contributors over the next 4-5 years. About 30% of all SMEs currently use dealing with cloud communication platform, and it's giving them added cause for optimism.

Cloud communication platforms are efficient and cost-effective due to which organizations are training their sights on cloud telephony solutions. These platforms do not require any investment in the entire setup replete with several types of equipment as they are adaptable to emerging communication functionalities. A private branch exchange (PBX), a phone communication used within an organization. With cloud communication platforms, the PBX can be facilitated on a cloud at a lower cost. Various large enterprises and SMEs are choosing cloud communication platform to leverage cost-effectiveness and higher working efficiency benefits delivered by them. Moreover, these cloud communication platforms require no capital infrastructure costs, transparent pay-as-you-go subscriptions which is an added advantage for the cloud communication platforms.

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