Report : North America Cloud Communication Platform Market Forecast to 2027 - COVID-19 Impact and Regional Analysis 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, and Managed Service ), Organization Size (Small- and Medium-Sized Enterprises, and Large Enterprises ), and Vertical (BFSI, IT and Telecommunication, Retail, Government, Education, and Others)
Growing Trend of Bring Your Own Device is Fueling the Market Growth
As per the latest market study on “North America Cloud Communication Platform Market Forecast to 2027 – 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 ); Organization Size ( Small- and Medium Sized Enterprises, Large Enterprises ); Vertical (BFSI, IT and Telecommunication, Retail, Government, Education, Others)–COVID-19 Impact and North America Analysis,” The North America cloud communication platform market was valued at US$ 1,106.6 million in 2019 and is projected to reach US$ 5,592.5 million by 2027; it is expected to grow at a CAGR of 22.6% from 2020 to 2027.
The Cloud Communication platform market in North America region is antiquated to offer ample revenue opportunities to players, attributed to the existence of widespread communication technologies as well as the world’s leading providers such as 8x8, Inc, Avaya Inc, Cisco System Inc, Callfire, Netfortis, Plivo Inc, Telestax Inc, Twilio Inc, Nexmo Inc, West IP Communication Inc . The businesses across North America region are making several efforts to create flexible work options, cloud communication platforms is becoming more famous across the region. In North America, adoption of such platforms has been high in for both large enterprises and as well as SMEs. The presence of popular cloud communication platform market player in region is also viewed as a favourable factor for the growth of the market. The cloud communication platform market has ample revenue opportunities due to the large spend on cloud services by large enterprises in the USA and Canada, due to the several initiatives taken by organizations across North America to adopt the latest digital technologies (digital transformation plans). The high Internet penetration across North America, along with government agencies moving partially to the cloud communication to enhance information services is also likely to drive the North American cloud communication platform market. Morever, Small to medium enterprise are at the forefront of this growth and are expected to continue to be the most significant contributors over the next 4-5 years. About 30% of all SMEs currently use dealing with cloud communication platform, and it’s giving them added cause for optimism.
Cloud communication platforms are efficient and cost-effective due to which organizations are training their sights on cloud telephony solutions. These platforms do not require any investment in the entire setup replete with several types of equipment as they are adaptable to emerging communication functionalities. A private branch exchange (PBX), a phone communication used within an organization. With cloud communication platforms, the PBX can be facilitated on a cloud at a lower cost. Various large enterprises and SMEs are choosing cloud communication platform to leverage cost-effectiveness and higher working efficiency benefits delivered by them. Moreover, these cloud communication platforms require no capital infrastructure costs, transparent pay-as-you-go subscriptions which is an added advantage for the cloud communication platforms.
Some of the major players operating in the North America cloud communication platform market are CallFire, Avaya Inc, Cisco System Inc, NETFORTIS, Plivo Inc, Telestax Inc, Twilio Inc, Vonage, 8x8 Inc.
NORTH AMERICA CLOUD COMMUNICATION MARKET SEGMENTATION
- Unified Communication and Collaboration (UCC/UCaaS)
- Web Real-Time Communication (WebRTC)
- Interactive Voice Response (IVR)
- Application Programming Interface (API)
- Reporting and Analytics
- Training and Consulting
- Support and Maintenance
- Managed Service
By Organization Size
- Small- and Medium Sized Enterprises
- Large Enterprises
- IT and Telecommunication
- Avaya Inc.
- Cisco Systems, Inc.
- PLIVO INC
- TELESTAX, INC
- TWILIO INC
- WEST IP COMMUNICATIONS, INC
- 8X8, INC.
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