Pune, India, July 25, 2022 (GLOBE NEWSWIRE) -- The global cloud telephony market size is expected to gain momentum owing to the growing adoption of cloud-based solutions during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Cloud telephony Market, 2021-2028.” The evolution of the service market is being driven by increasing digitization and usage of cloud services to lower operating costs. The transition of telecom businesses from traditional to IP networks represents an opportunity.
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Industry Development-
December 2020: Tata Tele Business Services has launched a cloud-based communication system aimed primarily at businesses, which provides hybrid connectivity across multiple platforms, particularly between employees and customers.
Drivers & Restraints-
Shift of Telecom Enterprises from Traditional to IP will Stimulate Growth
The transfer from traditional to IP is expected to boost the global cloud telephony market growth during the forecast period. Telecom companies are shifting from traditional networks to IP networks, which will aid the cloud telephone service industry reach its optimal growth level in the next few years. Furthermore, easy access to power in growing countries and its use as a cost-effective substitute for traditional services such as ISDN and PSTN are important growth drivers for the cloud telephone service industry. Furthermore, the market's growth is fueled by the increasing adoption of mobile smartphones among end consumers.
Halt on Heavy Operations to Hamper Growth
Due to lockdowns, travel bans, and business shutdowns, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various warehouses and industries has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. A few companies have already stated that goods deliveries may be delayed or even halted.
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Segments-
By deployment, the market is segmented into the cloud and hosted. On the basis of network type, the market is categorized into public switched telephone networks and voice over internet protocol. On the basis of application, the market is segregated into conferencing, multi-level IVR, sales & marketing, and customer relationship management. On the basis of end-user, the market is segmented into BFSI, IT and telecommunication, government, healthcare, media & entertainment, retail, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
What does the Report Offer?
The report Proposes a complete market segmentation of the market by deployment option, enterprise size, application, industry sector, and geography. The research includes essential statistics on the market status of the main cloud telephony service providers and market trends and opportunities.
REGIONAL INSIGHTS
Rising Demand for Advanced Communication to Promote Growth in North America
North America is expected to hold the largest global cloud telephony market share during the forecast period. Because of the region's early integration of technological changes and large telecommunication service providers, there is a strong demand and necessity in the region for improved communication services, which adds to market growth.
Furthermore, due to increased acceptance of the technology to lower operating costs, growing digitization, and rising access to energy, the cloud telephony service market in Asia-Pacific is predicted to grow radically.
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Competitive Landscape-
Manufacturers Focus on R&D Investments to Offer Advanced Products
Major cloud telephony firms are focusing on developing new products in order to generate significant money from early adopters of the adoption cycle, thereby improving the quality of their offers and gaining a competitive edge. Prominent manufacturers in the cloud telephony service market have been noticed relying on new technology by boosting R&D activities to produce cost savings, consequently enhancing market competition to some level.
List of Key Players Profiled in the Global Market for Cloud Telephony:
- AVOXI
- Broadsoft
- Cisco System
- DIALPAD
- Exotel Techcom
- Go 2 Markets India Pvt Ltd.
- LeadNXT
- Microsoft Corporation
- Megapath
- Natterbox Ltd.
- Mitel Network Corporations
Major Points from TOC:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers & Acquisitions
5. Global Cloud Telephony Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
……………
11. Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis
11.3. Competition Dashboard
11.4. Comparative Analysis — Major Players
12. Company Profiles
12.1 Cloud Telephony Market Size Overview
12.2 Products & Services
12.3 SWOT Analysis
12.4 Recent developments
12.5 Major Investments
12.6 Regional Market Size and Demand
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