The global Cloud Telephony Service market size, accrued revenue worth 18.94 (USD Billion) in 2018 and is anticipated to garner earnings of about 52.10 (USD Billion) by 2025
The global Cloud Telephony Service market, which accrued revenue worth 18.94 (USD Billion) in 2018 and anticipated to garner earnings about 52.10 (USD Billion) by 2025, is set to grow at a CAGR of nearly 13.15% during the period from 2019 to 2025. The report offers valuation and analysis of the Cloud Telephony Service market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
Cloud telephony is a kind of service via which data & voice services are operated through use of web connection. Apparently, cloud telephony solutions provide enhanced scalability to the firms as they facilitate in appending more channels as compared to current ones. These solutions work over Voice over internet protocol (VoIP) phone tools and Public Switched Telephone Networks.
Telecom firms are migrating from conventional networks to IP networking and this will help the cloud telephone service market to hit optimum threshold of growth in the coming years. In addition to this, easy access to power supply in emerging nations and its use as cost-effective substitute for conventional services like ISDN and PSTN are the major cloud telephone service market growth drivers. Nonetheless, low knowledge pertaining to cloud telephony service tools among the people and lack of suppleness in adopting new technologies can pose challenge to the expansion of cloud telephony service industry over the years ahead. Apparently, data breaches, security threats, and susceptibility to cyberattacks are some of the factors that can put brakes on the business growth in the foreseeable future.
Furthermore, cloud telephony service industry is highly competitive and hence vendors are providing competitive pricing for their services along with new features to attract customers and expand their business. Such moves will culminate into market proliferation.
The expansion of the cloud telephony service market in the sub-continent over the forecast timeframe is ascribed to presence of large number of vendors in the countries such as Canada and the U.S. In addition to this, strong IT infrastructure facility in these countries will facilitate the growth of cloud telephony service market in the region. Apart from this, growing trend among the young and adult population to use tech-savvy gadgets will prop up the expansion of cloud telephony service industry in the North American sub-continent. Furthermore, escalating demand for availing seamless customer services has resulted in growing use of cloud computing systems, thereby creating new opportunities of business growth in the region.
Report Attributes | Report Details |
---|---|
Report Name | Cloud Telephony Service Market Research Survey Report |
Market Size in 2018 | USD 18.94 Billion |
Market Forecast by 2025 | USD 52.10 Billion |
Compound Annual Growth Rate | CAGR of 13.15% |
Number of Pages | 110 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | NTT Communications, Nextiva, Mitel Networks Corporation, NFON AG, Redcentric plc, Microsoft Corporation, NovaCloud Pty Ltd, NetFortis, Natterbox Ltd, and PortaOne, Inc |
Segments Covered | By enterprise size, By deployment type, By network, By application, By industry, By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
Base Year | 2018 |
Historical Year | 2016 - 2018 |
Forecast Year | 2019-2025 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Key participants profiled in the study are NTT Communications, Nextiva, Mitel Networks Corporation, NFON AG, Redcentric plc, Microsoft Corporation, NovaCloud Pty Ltd., NetFortis, Natterbox Ltd., and PortaOne, Inc.
By enterprise size:
By deployment type:
By network:
By application:
By industry:
FrequentlyAsked Questions
Telecom firms are migrating from conventional networks to IP networking and this will help the cloud telephone service market to hit optimum threshold of growth in the coming years. In addition to this, easy access to power supply in emerging nations and its use as cost-effective substitute for conventional services like ISDN and PSTN are the major cloud telephone service market growth drivers. Furthermore, cloud telephony service industry is highly competitive and hence vendors are providing competitive pricing for their services along with new features to attract customers and expand their business. Such moves will culminate into market proliferation.
According to Zion market research report, the global Cloud Telephony Service market, which accrued revenue worth 18.94 (USD Billion) in 2018 and anticipated to garner earnings about 52.10 (USD Billion) by 2025, is set to grow at a CAGR of nearly 13.15% during the period from 2019 to 2025.
North America is likely to make noteworthy contributions towards overall market revenue during 2019-2025. The growth of the Cloud Telephony Service market in the region over forecast timespan can be credited to presence of large number of vendors in the countries such as Canada and the U.S. In addition to this, strong IT infrastructure facility in these countries will facilitate the growth of cloud telephony service market in the region. Apart from this, growing trend among the young and adult population to use tech-savvy gadgets will prop up the expansion of cloud telephony service industry in the North American sub-continent. Furthermore, escalating demand for availing seamless customer services has resulted in growing use of cloud computing systems, thereby creating new opportunities of business growth in the region.
The key players profiled in the report include NTT Communications, Nextiva, Mitel Networks Corporation, NFON AG, Redcentric plc, Microsoft Corporation, NovaCloud Pty Ltd., NetFortis, Natterbox Ltd., and PortaOne, Inc.
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