Cloud Communication Platform Market to Soar at a CAGR of 26.8% to 2020 Led by North America
The increasing demand for more customer satisfied solutions and services drives the cloud communication platform market. Reporting and analytics solutions is expected to show high adoption rate during the forecast period. Asia-Pacific (APAC) is expected to grow at the highest CAGR
Pune, India – March 7, 2016 /MarketersMedia/ —
The cloud communication platform market is estimated to reach USD 4.45 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 26.8% from 2016 to 2021. Factors such as seismic shift in communication market, cost effectiveness of cloud communication platform solutions, growing inclination of organizations to provide flexible work options, increasing demand for Bring Your Own Device (BYOD), and increasing demand for more customer satisfied solutions and services are contributing towards the significant growth of the cloud communication platform market. The tremendous growth of the BPO sector and its inclination towards cloud-based solutions has increased the market opportunities for cloud communication platform solution and service vendors. Organizations are deploying the cloud-based communication solutions to overcome the loopholes of traditional communication systems. Moreover, the low maintenance requirements and cost effectiveness of cloud communication platform solutions and services is driving this market.
Complete report on cloud communication platform market spread across 164 pages, profiling 15 companies and supported with 69 tables and 48 figures is now available at http://www.rnrmarketresearch.com/cloud-communication-platform-market-by-solution-and-service-ucc-ucaas-webrtc-voip-ivr-api-reporting-and-analytics-and-training-and-consulting-support-and-maintenance-service-and-managed-service-global-fo-st-to-2021-market-report.html .
The cloud communication platform market in North America is expected to hold the largest market share, followed by Europe. However, the market in Asia-Pacific (APAC) is expected to grow at the highest CAGR. The major factor contributing towards the high growth of the cloud communication platform market in APAC is the increasing demand for converged communications and product differentiation among the cloud communication platform service providers. On the other hand, the cloud communication platform market in Middle East and Africa (MEA) is still in the introductory phase in terms of the adoption of these solutions.
The cloud communication platform market has been segmented on the basis of solutions. The reporting and analytics solution is expected to grow at the highest CAGR during the forecast period. The reporting and analytics solution helps in collecting the information at an isolated place to analyze the issues easily and make informed decisions. Hence, companies are deploying more of the cloud communication platform solutions to leverage its benefits.
To determine and verify the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people and below are the details:
Prominent players in the cloud communication market include 8×8, Inc.; Avaya, Inc.; Cisco Systems, Inc.; Twilio, Inc.; NetFortris; West IP Communication, Inc.; Telestax; Plivo; CallFire; and Nexmo. These players, along with other local players, are providing advanced cloud communication platform solutions to various industries, such as Banking, Financial Services, and Insurance (BFSI), healthcare, telecommunication and IT-Enabled Services (ITES), government, and others. Ask for a discount before order a copy of Cloud Communication Platform Market by Solution and Service (UCC/UCaaS, WebRTC, VoIP, IVR, API, Reporting and Analytics, and Training and Consulting, Support and Maintenance Service, and Managed Service) – Global Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=500169 .
From an insight perspective, this research report has focused on various levels of analysis—industry analysis , analysis of top players, their offered products and services, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the network analytics market, high-growth regions, drivers, restraints, and opportunities.
On a related note, another research on Cloud High Performance Computing (HPC) Market Global Forecast to 2020 says, Complex applications management is a major factor driving the growth of cloud HPC market. HPC Infrastructure as a Service (IAAS) to gain maximum traction during the forecast period (2015 to 2020).the overall market size is estimated to grow from USD 4.37 billion in 2015 to USD 10.83 billion by 2020, at an estimated compound annual growth rate (CAGR) of 19.9% from 2015 to 2020. Companies like ,IBM Corporation, Microsoft Corporation, Google, Dell, Amazon Web Services, Penguin Computing, Sabalcore Computing, Adaptive Computing, Gompute and Univa Corporation have been profiled in this 119 pages research report at http://www.rnrmarketresearch.com/cloud-high-performance-computing-hpc-market-by-service-type-hpc-iaas-hpc-paas-data-organization-and-workload-management-clustering-software-and-analytics-tool-professional-service-and-managed-service-global-forecast-to-2020-market-report.html .
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