Cloud Communication Platform Market Growth, Latest Industry Size, Future Sales Revenue and Key Drivers Analysis Research Report 2028, The Insight Partners

According to our latest market study on "Cloud Communication Platform Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by component, enterprise size, and industry," the market is expected to grow from US$ 4,632.3 million in 2021 and is projected to reach US$ 22,408.5 million by 2028; it is expected to grow at a CAGR of 25.3% from 2021 to 2028. Cloud Communication Platform Market Research Report comprises comprehensive industry information and changing Cloud Communication Platform market trends in the Industry that allows users to spot the pin-point analysis of the market along with revenue, development and profit during the forecast period. The market insights and analysis covered in this Cloud Communication Platform market research report are based upon SWOT analysis on which businesses can believe assertively. This market report gives information about historic data, present market trends, environment, technological innovation, forthcoming technologies and the technical progress in the related industry.

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Cloud communication platforms allow developers to modify application program interface (API), thereby allowing them to decide the interaction of the cloud communication platform products with SMS, voice, video, and verification features. The rising trend of bring-your-own-device (BYOD) with the emphasis on offering flexible work options is favoring the cloud communication platform market growth. Rising BYOD policies at the workplace overburdens the communication networks at workplaces, and the deployment of cloud communication platforms helps solve the network congestion issues. Surge in demand for connected devices and the increase in the adoption of the IoT (internet of things) and cloud-based services are major factors driving the market growth. Furthermore, the speed of internet connection is a key factor governing the cloud communication platform market growth.

The Key Players In The Global Cloud Communication Platform Market Are:

•8X8, INC
•Avaya Inc.
•CallFire
•Cisco Systems, Inc.
•NetFortris
•Vonage
•Plivo Inc.
•Telestax, Inc.
•TWILIO INC.
•Intrado

Impact of COVID-19 Pandemic on North America Cloud Communication Platform Market

The COVID-19 outbreak is expected to have a disruptive impact on the economy of the US and Canada. According to the Center for Strategic and International Studies, the US would experience contraction in GDP (Gross Domestic Product) in the second quarter owing to the COVID-19 pandemic. With the lockdown being compulsory in many countries across the world, there has been a sudden rise in remote working or work from home. Many organizations and industries have adopted cloud communication platform to continue their business. Therefore, there has been a sudden rise in the requirement for cloud communication platforms, such as unified communication and collaboration, web real-time communication, interactive voice response, voice over internet protocol, application programming interface, and reporting and analytics. SMEs are continuously adopting cloud-based platforms and services mainly due to cost efficiency and limited capital investment required for deploying the setup.

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The Segments and Sub-Section of Cloud Communication Platform Market are shown below:

By Component (Solution and Service)

By Enterprise Size (SMEs and Large Enterprises)

By Industry (BFSI, IT & Telecom, Healthcare, Retail, Government, Education, Others)

The business process outsourcing (BPO) sector is known as the fastest-growing stream of the Information Technology Enabled Services (ITES) industry. Its growth is mainly attributed to the economies of scale, business risk mitigation, cost advantage, utilization enhancement, and superior competency. The outsourced services are better delivered with the use of cloud. The adopting cloud communication platforms assist saves costs for BPOs, while enhancing the quality and timeliness of the data. The increasing need for high flexibility/scalability among business organizations has raised the adoption rate of cloud communication platform solutions and services, which acts as a huge opportunity for the platform vendors. The presence of several global players in BPO sector offer lucrative opportunities for the market growth.

Further, BPO is highly benefitted by the integration of cloud computing. The BPO service providers can leverage the benefits of cloud computing by dropping down the processing time for data-intensive business processes of the organizations and offering data processing workflow at a compact turnaround time. The Cloud BPOs are also highly benefitted in terms of flexibility of conveniently adding novel functions and features to their systems and effectively attain the transforming client demands. The cloud platforms provide the BPOs with an agile and elastic alternative by eliminating the pressure of forthcoming competition in the market. Owing to these advantages provided by Cloud BPO, companies across all industries are preferring to outsource their business processes to Cloud BPO services providers. This helps in market growth.

According to the Regional Segmentation the Events Market provides the Information covers following regions:

•North America
•South America
•Asia & Pacific
•Europe
•MEA (Middle East and Africa)

Answers that the report acknowledges:

•Market size and growth rate during forecast period.
•Key factors driving the Cloud Communication Platform Market.
•Key market trends cracking up the growth of the Cloud Communication Platform Market.
•Challenges to market growth.
•Key vendors of Cloud Communication Platform Market.
•Detailed SWOT analysis.
•Opportunities and threats faces by the existing vendors in Global Cloud Communication Platform Market.
•Trending factors influencing the market in the geographical regions.
•Strategic initiatives focusing the leading vendors.
•PEST analysis of the market in the five major regions.

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E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

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