According to new market 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”,published MarketsandMarkets, by 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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Cloud communication platform solutions are developing and being deployed on the application platform because of the rising real-time applications over the Internet on an on-demand basis. These solutions provide organizations with processing, development, and data storage capabilities in the cloud and deliver the flexibility needed by organizations to enable growth and expansion.
The cloud is a delivery model of information technologies based on internet protocols. The cloud has seen unparalleled demand and growth in the market over the past few years. Cloud communication platform enables greater flexibility, scalability and business agility for the enterprises, while saving significant costs over the long term.
MarketsandMarkets has broadly segmented the cloud communication platform market by solution: application programming interface (API), interactive voice response (IVR), web real time communication (WebRTC), unified communication & collaboration (UCC), voice over internet protocol (VoIP) and others; by service: training, consulting and system integration service and managed services; by verticals: BFSI, consumer goods and retail, healthcare, government, telecommunication and Information Technology (IT), manufacturing, travel and hospitality, and outsourcing; by regions: North America (NA), Europe, Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA).
MarketsandMarkets believes that the risk of information loss and stiff competition are the major issues in the cloud communication platform market. These challenges are restraining the enterprises and customers to adopt cloud communication platform solutions to support a wide range of applications.
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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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