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(MoneyNewsWire.Net, March 01, 2018 ) The tremendous growth of the Business Process Outsourcing (BPO) sector and the significant requirements of business organizations for greater flexibility/scalability have increased the adoption rate of cloud communication platform solutions and services, thereby providing immense opportunities to the vendors. These vendors are providing advanced and scalable cloud communication platform solutions and services to various organizations across the globe, thereby leveraging the benefits of cloud-based communication. 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 the 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) trend, and growing demand for more customer satisfied solutions and services are driving the growth of the market.
Browse Market Data Tables and In-Depth TOC of the Cloud Communication Platform Market to 2021 @ https://www.researchcosmos.com/reports/global-cloud-communication-platform-market-analysis-and-forecast-to-2022-growth-opportunity-assess/5841325
The global market report quantifies the market for solutions, services, organization size, verticals, and regions. The reporting and analytics solution is expected to grow at the highest CAGR during the forecast period, as it is helping the organizations to get real-time statistics and Key Performance Indicators (KPI) to monitor, manage, and accelerate business communications. The Unified Communication and Collaboration (UCC/UCaaS) solution is expected to have the largest market size because this solution enables seamless and unparalleled communication among the employees irrespective of their location or device, further eliminating the communications complexities. In terms of services, managed services show great opportunities and the segment is projected to grow at the highest CAGR by 2021.
The research report is based on extensive research on and around the cloud communication market and the related submarkets within the ecosystem. The cloud communication market by training and consulting service is estimated to have the largest market size as this service educates the enterprises with respect to strategic transformation, rapid business assessment, solution assessment, investment assurance, and executive workshop.
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The cloud communication platform market is thriving, and in the next five years it will present a huge opportunity for cloud communication platform vendors. The report provides detailed insights into the global market, which is segmented by solution, service, organization size, vertical, and region. The market has been segmented into diverse industry verticals, including BFSI, healthcare, telecommunication and Information Technology-Enabled Services (ITES), government, retail, travel and hospitality, education, manufacturing, and others.
The report covers all the major aspects of the cloud communication platform market and provides an in-depth analysis across the regions of North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest market share, whereas the APAC region is projected to have great opportunities in this market, growing at the highest CAGR by 2021. The primary reason for the high growth rate in APAC region is the tremendous growth of the BPO sector, which in turn is elevating the demand for UCC/UCaaS solutions.
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The huge investment associated with the initial setup and the security and privacy concerns are a few of the restraints acting as a hindrance for the growth of the cloud communication platform market. The primary vendors in the market are 8x8, Inc.; Avaya, Inc.; Cisco Systems, Inc.; Twilio, Inc.; NetFortris; West IP Communication; Telestax; Plivo; CallFire; and Nexmo. This research report includes the strategic alliances and lucrative acquisitions between the major players in the ecosystem. Technological developments include inventing new robust and sophisticated solutions which can leverage the company’s Return-on-Investment (ROI) scenario.
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+1 888 709 8757
dani@researchcosmos.com
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