Dublin, Nov. 09, 2021 (GLOBE NEWSWIRE) -- The "Cloud Communication Platform Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Solution and Service); Enterprise Size (SMEs and Large Enterprises), and Industry (BFSI, IT & Telecom, Healthcare, Retail, Government, Education, Others)" report has been added to ResearchAndMarkets.com's offering.
The global cloud communication platform market is expected to grow from US$ 4,632.3 million in 2021 to US$ 22,408.5 million by 2028; it is estimated to grow at a CAGR of 25.3%% during 2021-2028.
Rising need of bring your own device and the cost-effectiveness of cloud communication platform solutions drive the growth of the cloud communication platform market. However, the security and privacy concerns restrain the cloud communication platform market growth. Moreover, the growth of BPO sector and growing preference for cloud-based solutions, increase in the number of internet users worldwide, growth of cloud-based IoT platforms, and the surge in the need of voice over internet protocol (VoIP) are the other factors bolstering the market growth.
The cloud communication platform market is segmented on the basis of component, solution, enterprise seize, services, vertical, and geography. Based on component, the market is bifurcated into solution and services. In 2020, the solution segment accounted for a larger market share. Based on solution, the market is further segmented into UCaaS, WebRTC, IVR, VoIP, and API. In 2020, UCaaS segment accounted for the largest market share. By services, the market is subsegmented into training and consulting, support and maintenance, and managed services. In 2020, the support and maintenance segment held the largest market share. Based on enterprise size, the cloud communication platform market is bifurcated into SMEs and Large Enterprises. In 2020, the large enterprises segment led the market. Based on vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail, Government, Education, and Others. The BFSI segment accounted for the largest market share in 2020. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America dominated the market.
The COVID-19 crisis has affected various industries worldwide in a negative manner and hence, the global economy faced a slump in 2020 and it is continued in 2021 also. However, a few industries, such as video conferencing, cloud deployment, and desktop virtualization, are experiencing a positive impact of the COVID-19 outbreak. With lockdown measures and ban on travel of individuals, work from home policy has gained high acceptancy across the world. It has propelled the growth of the cloud communication platform market.
A few major players operating in the global cloud communication platform market are 8X8, INC.; Avaya Inc.; CallFire; Cisco Systems, Inc.; NetFortris; Vonage; Plivo Inc.; Telestax, Inc.; TWILIO INC.; and Intrado.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Global Cloud Communication Platform Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Cloud Communication Platform Market - Key Market Dynamics
5.1.1 Growing Trend of Bring Your Own Device
5.1.2 Cost-Effectiveness of Cloud Communication Platform Solutions
5.2 Market Restraints
5.2.1 Security and Privacy Concerns
5.3 Market Opportunities
5.3.1 Growth of BPO Sector and Growing Preference for Cloud-Based Solutions
5.4 Future Trends
5.4.1 Rise of IoT Platform
5.5 Impact Analysis of Drivers and Restraints
6. Cloud Communication Platform Market - Global Analysis
6.1 Cloud Communication Platform Market Global Overview
6.2 Cloud Communication Platform Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Global Cloud Communication Platform Market Analysis - By Component
7.1 Overview
7.2 Cloud Communication Platforms Market, By Component (2020 And 2028)
7.3 Solution
7.3.1 Overview
7.3.2 Solution: Cloud Communication Platform Market Revenue and Forecast To 2028 (US$ Million)
7.3.3 Unified Communication and Collaboration (UCC/UCaaS)
7.3.3.1 Overview
7.3.3.2 Unified Communication and Collaboration: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.3.4 Web Real-Time Communication (WebRTC)
7.3.4.1 Overview
7.3.4.2 Web Real-Time Communication (WebRTC): Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.3.5 Interactive Voice Response (IVR)
7.3.5.1 Overview
7.3.5.2 Interactive Voice Response (IVR): Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.3.6 Voice Over Internet Protocol (VoIP)
7.3.6.1 Overview
7.3.6.2 Voice Over Internet Protocol (VoIP): Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.3.7 Application Programming Interface (API)
7.3.7.1 Overview
7.3.7.2 Application Programming Interface (API): Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.4.3 Training and Consulting
7.4.3.1 Overview
7.4.3.2 Training and Consulting: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.4.4 Support and Maintenance
7.4.4.1 Overview
7.4.4.2 Support and Maintenance: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
7.4.5 Managed Service
7.4.5.1 Overview
7.4.5.2 Managed Service: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
8. Global Cloud Communication Platform Market Analysis - By Enterprise Size
8.1 Overview
8.2 Cloud Communication Platform Market, By Enterprise Size (2020 And 2028)
8.3 SMEs
8.3.1 Overview
8.3.2 SMEs: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
8.4 Large Enterprise
8.4.1 Overview
8.4.2 Large Enterprise: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
9. Global Cloud Communication Platform Market Analysis - By Industry
9.1 Overview
9.2 Cloud Communication Platform Market, By Industry (2020 and 2028)
9.3 Retail
9.3.1 Overview
9.3.2 Retail: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
9.4 IT & Telecom
9.4.1 Overview
9.4.2 IT & Telecom: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
9.5 Healthcare
9.5.1 Overview
9.5.2 Healthcare: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
9.6 Government
9.6.1 Overview
9.6.2 Government: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
9.7 Education
9.7.1 Overview
9.7.2 Education: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
9.8 BFSI
9.8.1 Overview
9.8.2 BFSI: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others: Cloud Communication Platform Market Revenue and Forecast to 2028 (US$ Million)
10. Cloud Communication Platform Market - Geographic Analysis
11. Cloud Communication Platform Market - COVID-19 Impact Analysis
11.1 Overview
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 MEA: Impact Assessment of COVID-19 Pandemic
11.1.5 SAM: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 New Development
13. Company Profiles
13.1 8X8, INC.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Avaya Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 CallFire
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Cisco Systems, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 NetFortris
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Vonage
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Plivo Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Telestax, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 TWILIO INC.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Intrado
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
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