Cloud Telephony Service Market Size, Insights, Country-wise Forecast, Demand Outlook, Trends & Business Strategies

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.

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Cloud telephony services are becoming increasingly popular due to their ability to provide cost-effective and flexible communication solutions for businesses of all sizes. One of the major trends in the cloud telephony service market is the adoption of artificial intelligence (AI) and machine learning (ML) technologies. These technologies enable cloud telephony providers to offer advanced features such as voice recognition, call analytics, and chatbots, which enhance the overall customer experience. AI and ML also help businesses automate routine tasks, such as call routing and appointment scheduling, freeing up employees to focus on more complex tasks.

Another trend in the cloud telephony service market is the integration of unified communications (UC) solutions. UC solutions enable businesses to integrate all their communication channels, including voice, video, messaging, and email, into a single platform. This provides a seamless communication experience for employees and customers, regardless of their location or device. Cloud telephony providers are increasingly offering UC solutions as part of their service offerings, enabling businesses to simplify their communication infrastructure and reduce costs. As the demand for remote work and collaboration tools continues to rise, the integration of UC solutions with cloud telephony services is expected to become even more prevalent in the coming years.

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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.

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.

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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 market players include 8x8, Inc., AVOXI, BroadSoft, Cisco Systems, Inc., DIALPAD, Exotel Techcom Pvt. Ltd., Go 2 Market India Pvt. Ltd., Knowlarity Communications Pvt. Ltd., LeadNXT, Microsoft Corporation.

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