Global Cloud Telephony Service Market to Grow at 17% CAGR through 2026, North America to Remain a Lucrative Market

ALBANY, USA, 2018-Jun-19 — /EPR Network/ —A new research study titled “Cloud Telephony Service Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026” has recently been added to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the cloud telephony services market is likely to surpass US$ 41 Bn by 2026, growing at over 17% CAGR during the assessment period.

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According to the report, cost benefits of cloud telephony services as compared to traditional telephony systems are likely to provide an impetus to growth of the market. Adoption of these services has witnessed an increase on account of a wide range of benefits offered by cloud telephony services. The growing adoption of mobile workforce and enterprise mobility are some of the other key factors driving the growth of the market during the assessment period. The market is also likely to be driven by implementation of IP networks and improvement in quality of services offered by telecommunication providers.

In a bid to offer detailed insights and analysis on the cloud telephony service market, the business intelligence study offers segment-wise analysis and insights. The report segments the global cloud telephony service market on the basis of deployment, industry, application, enterprise size and network. The deployment segment is further bifurcated into hosted and cloud. The industry segment is sub-segmented into healthcare, IT and telecommunication, retail, government, education, media and entertainment, banking, financial services and insurance (BFSI) and others. The application segment is categorized into sales & marketing, customer relationship management (CRM), conferencing, multi-level IVR and others. The enterprise size is divided into large enterprises and small & medium enterprises (SME’s). The network is sub-segmented into voice over internet protocol (VoIP) and public switched telephone networks (PSTNs)

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Geographically, the market is divided into key regions globally which are North America, South Africa, Europe and rest of the world. According to the study, the US continues to be one of the leading markets for cloud telephony services market globally. In addition to the US, growth is also formidable in EU5. Growing awareness among end-users, combined with rising investments in China, India, and ASEAN are also likely to provide an impetus to growth during the assessment period.

The business intelligence study offers analysis on the leading companies operating in the market. Some of these players are Vonage Intermedia.net, Inc., Tripudio Ltd., Vox Telecom, VoIPStudio, Singtel, Telviva, Solutions Infini., RingCentral, Inc., NTT Communications, NovaCloud Pty Ltd., PortaOne, Inc.,Redcentric plc., NFON AG, NetFortis, Mitel Networks Corporation, Nextiva, Natterbox Ltd., LeadNXT, Microsoft Corporation, Knowlarity Communications Pvt Ltd., Megapath, Go 2 Market India Pvt. Ltd., AVOXI,Cisco Systems, Inc., Exotel Techcom Pvt. Ltd., BroadSoft, DIALPAD and 8×8, Inc.

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