The major Key players in Cloud Communication Platform Market are IBM, Cisco, Alcatel Lucent, 8×8, Inc., Genesys, Avaya, Mitel, West Corporation, Fujitsu, CallFire, and many more.
(PRWEB) October 23, 2014
The research report "Cloud Communication Platform Market by Solution and Service [Application Programming Interface (API), Interactive Voice Response (IVR) System, Unified Communication and Collaboration (UCC), webRTC, & VoIP] - Global Forecast to 2019", defines and segments the Cloud Communication Platform Market into various sub-segments with an in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with the insights on trends, opportunities, and challenges.
Browse 78 market data tables with 34 figures spread through 128 pages and in-depth TOC on "Cloud Communication Platform Market - Global Forecast to 2019"
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Virtual private branch exchange, emergence of web real time communication, increasing adoption of brings your own device and consumerization of IT drive the cloud communication platform market. Due to the increasing adoption by large enterprises, cloud data center has experienced huge traffic in the recent years which is increasing the demand for communication platforms. Due to these benefits, many large enterprises and SMB’s are moving to the new way of customer interaction for delivering excellent services. The cloud communication platform market consists of various types of solution such as application programming interface (API), interactive voice response (IVR), web real time communication (WebRTC), unified communication & collaboration (UCC), voice over internet protocol (VoIP) and others. These tools help to analyze business data and derive valuable insights. The major suppliers in this field include Alcatel-Lucent, Cisco, 8X8 Inc., Genesys, Avaya, Mitel, IBM, West IP Communication and CallFire.
The increasing business demand for maximum flexibility of resources and the rapid pace of change in technology will make hosted and cloud based solutions the dominant model in the future. By deploying cloud communication platform solutions, businesses can avoid upfront investment in infrastructure and vendor licenses and can opt for a payment model based on usage.
In terms of vertical, outsourcing sector accounts for the largest market share in the overall cloud communication platform in 2014 which will continue till 2019 too. In the long term telecommunication and IT is expected to have the largest market share by 2019. The consumer goods and retail and manufacturing sector are growing with the highest Compound Annual Growth Rate (CAGR) as compared to other verticals. Travel and hospitality, government, and BFSI are the other emerging verticals for the cloud communication platform market.
The key industry players are solidifying their presence in the cloud communication platform market through Mergers and Acquisitions (M&A), new start-ups, and new product developments. A few M&A are: Avaya acquired a business collaboration and communications software provider, ITNavigator. With this acquisition, ITNavigator is set to offer the advanced and operator-friendly platform for management and also ensure control of the Avaya technology-based unified communication platforms. In order to expand the global cloud business, Fujitsu acquired a cloud service provider company RunMyProcess. With this acquisition, Fujitsu will be able to add integration Platform as a Service (iPaaS) to its cloud offerings. This iPaaS enables the enterprises to leverage the services available in the public and the private clouds.
The Cloud Communication Platform Market is estimated to grow from $887.5 million in 2014 to $3234.9 million in 2019, at a Compound Annual Growth Rate (CAGR) of 29.5% from 2014 to 2019. In terms of regions, North America is expected to be the biggest market in terms of revenue contribution, while emerging economies such as Middle East and Africa (MEA), Latin America (LA), and Asia-Pacific (APAC) are expected to experience increased market traction with high CAGRs, in the due course.
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