Global Cloud Communication Platform Market – Industry Trends and Forecast to 2029

Global Cloud Communication Platform Market, By Solution (Unified Communication and Collaboration (UCC/UCaaS), Web Real-Time Communication (WebRTC), Interactive Voice Response (IVR), Voice Over Internet Protocol (VoIP), Application Programming Interface (API), Reporting and Analytics), Service (Training and Consulting, Support and Maintenance, Managed Service), Deployment Type (Hybrid Cloud Services, Private Cloud Services, Public Cloud Services), Organization Size (Small- and Medium-Sized Enterprises, Large Enterprises), Vertical (Banking, Financial Services, and Insurance (BFSI), Healthcare, Telecommunication and Ites, Government, Retail, Travel and Hospitality, Education, Manufacturing, Others) – Industry Trends and Forecast to 2029.

Cloud Communication Platform Market Analysis and Size

The COVID-19 pandemic has already cast a shadow on several industries, except a few, such as the cloud communication platform market. During this crisis, there has been a notable increase in technologies such as zoom, desktop support, security, mobile devices, VPN networking, virtualization infrastructure, collaboration tools, and work-from-home infrastructure, which has fuelled demand for cloud communication services.

Data Bridge Market Research analyses that the cloud communication platform market was valued at USD 4.53 billion in 2021 and is expected to reach the value of USD 31.24 billion by 2029, at a CAGR of 27.30% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Cloud Communication Platform Market Scope and Segmentation

Market Definition

Cloud communication is a data and voice transmission device that is Internet-based and encourages people to use any device, not just an on-site computer. The cloud connectivity framework provides developers with the personalised application software interface to determine how their product communicates with video, SMS, speech and authentication functionality.

Global Cloud Communication Platform Market Dynamics

Drivers

• Growing trend of BYOD is capitalising market growth

The rise in demand for BYOD (bring your own device) systems in the corporate sector, where employees are told to bring their own device to work rather than rely on the company's hardware, is expected to drive market growth over the forecast period. Bring your own device policies also provide a strong central communication technology, allowing for convenient and easy communication between various parts of the organisation. Another factor that is expected to aid market growth is the growing acceptance of cloud services by major organisations, owing to their ability to provide employees with real-time monitoring and resource efficiency features.

• A shift towards remote working facilities is providing growth opportunities

Growing demand for remote working facilities in the corporate field, increasing use of cloud communication for its superior features over conventional alternatives, growing adoption of connected devices, rising penetration of IoT, increasing adoption of cloud-based services, increased mobility, and increased workforce productivity and savings are all factors contributing to the cloud communication platform market growth. Furthermore, rising demand for cloud communication platform software, mobile cloud communication platforms, cloud communication software, and web-based communication platforms is driving market expansion. Processes were traditionally carried out manually, which took a long time and money and was prone to errors due to the manual labour involved. With the advent of cloud communication platform solutions, businesses can now automate processes, resulting in increased efficiency.

Opportunity

Growth in the business process outsourcing sector and increased demand for flexibility and scalability among enterprises will create enormous opportunities for the cloud communication platform market during the forecast period.

Restraints

Increasing concerns about security and privacy, as well as the need for large capital investments, will likely stymie the growth of the cloud communication platform market during the forecasted period. The increasing need for technology to keep up with changing customer behaviour and the need for required skills among the workforce will be the primary challenge for market growth.

This cloud communication platform market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cloud communication platform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cloud Communication Platform Market

The COVID-19 pandemic has already cast a shadow on several industries, except a few, such as the cloud communication platform market. The demand for video conferencing solutions has increased during the outbreak, which generates a large amount of data that requires advanced technology to analyse. In fact, everyone is compelled to embrace new technologies and learn about their benefits. Additional investments in digital infrastructure are expected. Following the trend of working from home, there has been a lack of hallways, meeting rooms, and offices to serve as connectors. Cloud communications can help employees collaborate and connect with one another, as well as customers and external partners. With the majority of business activities being conducted online, organisations require increased capacity to ensure consistent, timely access to cloud-based communication platforms. The increasing cloud communication platform market trends have caused businesses to massively increase their cloud provisioning, resulting in massive growth for leading cloud infrastructure providers such as Microsoft Azure and Amazon Web Services and smaller firms. During these trying times, cloud services have helped to ensure business continuity and are seeing significant growth in adoption. All of this is likely to contribute to market growth.

Recent Development

• In August 2021, 8x8, Inc. will sign a strategic distribution agreement with SYNNEX Corporation, a leading provider of distribution, systems design, and integration services to the technology industry. 8x8 will provide 8x8 XCaaS (eXperience Communications as a Service) to SYNNEX's partner community of traditional value-added resellers (VARs), managed service providers (MSPs), and system integrators under the terms of the agreement.
• In June 2021, Avaya and RingCentral Inc. launched a slew of new capabilities for the Avaya Cloud Office by RingCentral Unified Communications as a Service (UCaaS) solution including many Avaya device-specific enhancements that enable easy migration, additional video, and other expansion features.

Global Cloud Communication Platform Market Scope

The cloud communication platform market is segmented on the basis of solution, service, deployment type, organization size, and vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Solution  

• Unified Communication and Collaboration (UCC/UCaaS)
• Web Real-Time Communication (WebRTC)
• Interactive Voice Response (IVR)
• Voice Over Internet Protocol (VoIP)
• Application Programming Interface (API)
• Reporting and Analytics

Services

• Training and Consulting
• Support and Maintenance
• Managed Service

Deployment type

• Private cloud services
• Hybrid cloud services
• Hybrid cloud services

Organization size

• Small and medium sized enterprises
• Large Enterprises

Vertical

• Banking Financial Services and Insurance (BFSI)
• Healthcare
• Government
• IT Enabled Services and Telecommunication
• Retail and Ecommerce
• Manufacturing
• Travel and Hospitality
• Education
• Others

Cloud Communication Platform Market Regional Analysis/Insights

The cloud communication platform market is analysed and market size insights and trends are provided by country, solution, service, deployment type, organization size, and vertical as referenced above.

The countries covered in the cloud communication platform market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America will continue to lead the market over the forecast period. Increasing popularity as it provides flexible work options, rising adoption in large, mid, and small enterprises, the presence of notable players, the availability of various cloud-based service providers, and rising cloud-based service adoption are all contributing to the region's global communication platform market growth.

Europe is set to grow at the highest growth rate of the global cloud communication platform market. Increasing R&D contributions, growing adoption in the BFSI sector, product differentiation among telecommunication service providers, and competitive pricing are all contributing to the region's global cloud communication platform market size.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cloud Communication Platform Market Share Analysis

The cloud communication platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cloud communication platform market.

Some of the major players operating in the cloud communication platform market are:

• Amazon Web Services, Inc. (U.S.)
• Cisco Systems Inc., (U.S.)
• NTT DATA Corporation (Japan)
• DXC Technology Company (U.S.)
• VMware, Inc. (U.S.)
• RACKSPACE TECHNOLOGY (U.S.)
• Informatica (U.S.)
• IBM Corporation (U.S.)
• Microsoft (U.S.)
• Siemens (Germany)
• ANSYS, Inc. (U.S.)
• SAP SE (Germany)
• Robert Bosch GmbH (Germany)
• NetApp (U.S.)
• Atos SE (U.S.)
• Fujitsu (Japan)
• CenturyLink (U.S)
• Hewlett Packard Enterprise Development LP (U.S.)
• Dell Inc., (U.S.)
• Oracle (U.S.)
• Google LLC (U.S.)
• Atos SE (France)
• KELLTON TECH (India)