The global cloud communication platform market size is likely to project a CAGR of nearly 24.7% during the forecast years 2021-2028. The cloud communication platfrom market is driven by the growing inclination of organizations to provide flexible work options and increasing demand for byod. the adoption of cloud communication platform services acts as a driver as the demand for cloud-based solution is increasing.

The present and future cloud communication platform market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the cloud communication platform market opportunities during the forecast year are factors such as the cost effectiveness of cloud communication platform solutions and Increasing Demand for customer-centric solutions and services are the key factor driving the market growth for cloud communication platform market.

Also, the tremendous growth of bpo sector and its inclination towards cloud-based solutions are  another factors driving the market growth. Furthermore, the significant requirements of business organizations for greater flexibility/scalability and critical security and privacy issues is likely to provide lucrative development opportunities for the cloud communication platform market in the forthcoming years.

The report also emphasizes several distinctiveness of the global cloud communication platform industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the cloud communication platform industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.

The cloud communication platform market has tough competition among the new emerging and pre-established market vendors. Besides, the cloud communication platform industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.

Based on component, the cloud communication platform market is segmented into solution and services. In 2020, the solution segment accounted for largest share in the market. The reporting and analytics solution is determined to reflect significant growth for the forecast period. It helps in tracking the data related to the usage of calls and SMS delivery stations, such as the time of the call, duration of the call, the result of the call, confirmation of message delivery, analysis of delivery failure, and others.

North America is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the cloud communication platform market in this region is mostly ascribed to the increasing demand for converged communications and product differentiation among the service providers, availability of several cloud-based services providers in this region, and ongoing projects will boost the market in the North American region. However, the growth in Asia Pacific region is likely due to the increasing demand of converged communication as well as product segregation to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the large number of growing ecenomies.

The major players of the global cloud communication platform market are 8x8, Inc.; Avaya Inc.; Cisco; TWILIO INC.; NetFortris; West Corporation; Telestax; Plivo Inc.; CallFire Inc.; Vonage; IBM Corporation; ALE International, ALE USA Inc.; Mitel Networks Corp; Genesys.; IntelePeer Cloud Communications. Renowned companies are offering new and modern cloud communication platform software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.

Segment Overview of Global Cloud Communication Platform Market

Component Overview, 2021-2028 (USD Million)

• Solution
• Service

Organization Size Overview, 2021-2028 (USD Million)

• SMEs
• Large Enterprises

End-Use Overview, 2021-2028 (USD Million)

• BFSI
• Healthcare
• Telecommunication & ITES
• Government
• Retail
• Travel & Hopitality
• Education
• Manufacturing
• Others

Regional Overview, 2021-2028 (USD Million)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa
  • UAE Rest of MEA

• South America
  • Brazil
  • Argentina
  • Rest of South America