The winning Cloud Telephony Service market report performs geographical analysis for the major areas such as North America, China, Europe, Southeast Asia, Japan, and India, with respect to the production, price, revenue and market share for top manufacturers. This market document is composed of myriad of factors that have an influence on the market and include industry insight and critical success factors (CSFs), market segmentation and value chain analysis, industry dynamics, market drivers, market restraints, key opportunities, technology and application outlook, country-level and regional analysis, competitive landscape, company market share analysis, and key company profiles.
Surge in the demand for cloud based services especially in the developing economies, growing technological advancements in the public switched telephone networks (PSTNs) and rising adoption of cloud telephony service by small and medium scale enterprises are the major factors attributable to the growth of the cloud telephony service market. Data Bridge Market Research analyses that the cloud telephony service market will exhibit a CAGR of 13.78% for the forecast period of 2022-2029. Therefore, the cloud telephony service market value would stand tall by USD 67.57 billion by 2029.
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Market Overview:
From the name itself, it is clear that cloud telephony services are the services that enable business-to-business communication using internet connectivity and replacing the conventional phone line system. In other words, cloud telephony service is used to move business phone systems to cloud.
Global Cloud Telephony Service Market Scope and Market Size
The cloud telephony service market is segmented on the basis of deployment type, enterprise, network, application, and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
l Based on deployment type, the cloud telephony service market is segmented into cloud and hosted.
l Based on enterprise, the cloud telephony service market is segmented into small and medium enterprises (SMEs), large enterprises.
l Based on network, the cloud telephony service market is segmented into public switched telephone networks (PSTNs), voice over internet protocol (VoIP).
l Based on application, the cloud telephony service market is segmented into conferencing, multi-level IVR, sales and marketing, customer relationship management (CRM).
l Based on end user industry, the cloud telephony service market is segmented into telecom and IT, banking, financial services and insurance (BFSI), government, health care, media and entertainment, education, retail, and others.
Some of the major players operating in the cloud telephony service market are Cisco Systems, Inc., DIALPAD, INC., Exotel Techcom Pvt. Ltd., Knowlarity Communications Pvt Ltd, LeadNXT., Fusion Connect, Inc., Microsoft, Mitel Networks Corp., Natterbox, NetFortis, Nextiva, NFON, NovaCloud (Pty) Ltd., NTT Communications Corporation., PortaOne, Inc., Redcentric plc., RingCentral, Inc., Singtel, Kaleyra., Telviva, Tripudio Ltd., VoIPstudio, Vonage and Vox Telecom among others.
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