Cloud Telephony Service Market – Snapshot
Cloud telephony is a type of service through which voice and data services can be operated using an Internet connection instead of a traditional phone line. Cloud telephony services offer improved scalability to companies as they enable them to add more channels over their existing trunks. They work on VoIP phone systems (Voice over Internet Protocol) and Public Switched Telephone Networks (PSTNs). Cloud telephony services can work without a physical connection to a phone company as they operate virtually.
The global cloud telephony services market is primarily driven by migration of telecom companies from traditional to IP networks. This migration is due to higher return on investment (ROI) and control capabilities of cloud telephony services. In addition, cloud telephony services have evolved as a cost-effective alternative to traditional telephony systems including PSTN and ISDN. The cost of installing multiple lines for traditional telephone and Internet services is reduced because voice and data are transferred over a single Internet line.
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Furthermore, increasing competition in the cloud telephony services market has influenced vendors to offer competitive pricing and additional features with their services to attract customers. Also, cloud telephony services offer greater scalability to business organizations to add further channels over their existing trunks. It also offers flexibility to customers by providing localized contact numbers irrespective of their geographical location. This enables organizations to create their virtual presence in different regions. Furthermore, it enables organizations to add new users over the existing infrastructure. However, interoperability and security concerns are some of the major issues faced by cloud telephony services. Interoperability problems between vendors providing edge devices, service providers, and IP-PBX might pose challenges for the smooth functionality of SIP trunk calls, which is a part of cloud telephony services. Data breach is an important consideration for organizations due to the increasing number of cyberattacks in recent years. As voice data is transmitted over Internet lines, cloud telephony services encounter security threats and are vulnerable to cyberattacks.
The cloud telephony services market can be segmented based on deployment, enterprise, network, application, end-use industry, and region. In terms of deployment, the market can be classified into cloud and hosted services. Based on network, the market can be categorized into Public Switched Telephone Networks (PSTNs) and Voice over Internet Protocol (VoIP). In terms of enterprise, the market can be divided into small & medium enterprises (SME’s) and large enterprises. Based on application, the market can be classified into conferencing, multi-level IVR, sales & marketing, customer relationship management (CRM), and others. In terms of end-user industry, the market can be segmented into telecom & IT, BFSI, government, health care, media & entertainment, education, retail, and others. The report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East & Africa, and South America, along with the qualitative analysis for market estimates supplementing the expansion of the cloud telephony services market during the forecast period.
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North America was a dominant region of the cloud telephony services market in 2017. The region accounted for more than half of the global market revenue share, and it is expected to continue its leading position throughout the forecast period. This is due to the presence of tech-savvy gadget users and rise in demand for advanced communication services. Asia Pacific is anticipated to be a lucrative region of the cloud telephony services market due to transition of large enterprises toward cloud telephony services solutions. Moreover, the introduction of low- cost mobile phones and tablets is projected to increase the demand for cloud telephony services in this region. However, different regulatory compliances and limited availability of efficient Internet connectivity infrastructure are anticipated to hamper the cloud telephony services market in Asia Pacific. Europe is expected to be a rapidly expanding region of the market for cloud telephony services during the forecast period.
Key players profiled in the cloud telephony services market include 8×8, Inc., AVOXI, BroadSoft, Cisco Systems, Inc., DIALPAD, Exotel Techcom Pvt. Ltd., Go 2 Market India Pvt. Ltd., Knowlarity Communications Pvt Ltd., LeadNXT, Megapath, Microsoft Corporation, Mitel Networks Corporation, Natterbox Ltd., NetFortis, Nextiva, NFON AG, NovaCloud Pty Ltd., NTT Communications, PortaOne, Inc., Redcentric plc., RingCentral, Inc., Singtel, Solutions Infini., Telviva, Tripudio Ltd., VoIPStudio, Vonage Intermedia.net, Inc., and Vox Telecom.
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Cloud Telephony Service Market – Snapshot
Cloud telephony refers to a service type that helps organizations in operating data and voice services using Internet connection rather than a conventional phone line. Over the period of past few years, the technique of cloud telephony is gaining traction owing to its ability to assist companies advance their scalability by allowing them to increase the number of channels over their present trunks. Public switched telephone networks (PSTNs) and voice over internet protocol (VoIP) phone systems are the two concepts used by cloud technology service. Cloud telephony service holds an ability to work with no need to a physical connection to a phone company owing to its virtual operations.
In recent few years, the concept of cloud telephony service is gaining traction across various end-user industries in the world. One of the key reasons driving demand for cloud telephony service is the increased adoption of IP networks by telecom organizations over the traditional technologies. The cloud telephony service is in high in demand owing to their control capabilities and higher return on investment (ROI). Apart from this, the cost-effectiveness of cloud telephony service over conventional telephony systems such as ISDN and PSTN is pushing the adoption of this service.
The global cloud telephony service market experience high level of competition owing to presence of many active players in it. As a result, many players in the market are using various strategies to deal with the competition. For instance, several enterprises are growing focus toward providing services at competitive prices. Many vendors are offering additional features together with their cloud telephony service. Apart from this, organizations are increasing their investments toward research and development activities in order to improve the quality of service they offer. On the back of all these activities, the global cloud telephony service market is expected to grow at decent pace in the years to come.
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