Analysis By Component (Solution and Service), Enterprise Size (SMEs and Large Enterprises), and Industry (BFSI, IT & Telecom, Healthcare, Retail, Government, Education, and Others)
No. of Pages:172
Report Code:
TIPRE00025837
Category:
Technology, Media and Telecommunications
The cloud communication platform market in APAC is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. The increasing number of internet users is one of the factors driving the market growth. China had the highest number of internet users, i.e., 850 million, followed by India with 560 million internet users, and Japan with 118.63 million internet users in the second quarter of 2021. Further, in 2020, South Korea had around 47 million internet users. This figure is projected to grow to ~48.13 million internet users by 2026. Similarly, there were 22.31 million internet users in January 2021 in Australia. Australia’s number of internet users increased by 265 thousand (+1.2%) from 2019 to 2021.
The growing urbanization, industrialization, and the presence of huge number of large and small & medium enterprises in APAC makes it a promising market for the growth of the cloud communication platform market. Moreover, APAC is a global industrial hub with the presence of key industries such as IT & telecom, BFSI, healthcare, consumer electronics, semiconductor, and automotive in countries such as China, India, Japan, and South Korea. For instance, China is the global manufacturing hub for various industries and fortune 500 companies. The lockdown of various plants and factories in China had restricted the global supply chains and negatively impacted manufacturing activities, delivery schedules, and various products and services sales. In addition, the uncertainty regarding the future outbreak especially in Asian countries such as India, where the graph is going upwards, may affect the growth of various industries especially IT & telecom, which is prominent in these countries. To mitigate the negative impact and continue operations, companies need to invest in remote working solutions and home office adoption policies. The huge presence of companies in this region is anticipated to provide huge growth opportunities for players operating in the cloud communication platform market in the coming quarters.
Market Overview and Dynamics
The cloud communication platform market in APAC is expected to grow from US$ 1,102.60 million in 2021 to US$ 6,394.55 million by 2028; it is estimated to grow at a CAGR of 28.5% from 2021 to 2028. The business process outsourcing (BPO) sector is known to be fastest-growing stream of the Information Technology Enabled Services (ITES) industry. The growth of this sector is mainly attributed to economies of scale, business risk mitigation, cost advantage, utilization enhancement, and superior competency. The outsourced services are better delivered with the use of cloud. Adopting cloud communication platforms assist saves costs for BPOs, while enhancing the quality and timeliness of the data. The increasing need for higher flexibility/scalability among business organizations has raised the adoption rate of cloud communication platform solutions and services, which acts as a huge opportunity for the platform vendors. There are several APAC players of BPO sector which will directly offer new opportunities for the market.
Key Market Segments
APAC cloud communication platform market is segmented into component, enterprise size, industry, and country. Based on component, the APAC cloud communication platform market is segmented into solution and services. In 2020, the solution segment accounted for largest share in the market. On the basis of enterprise size type, the APAC cloud communication platform market is segmented into large enterprises and SMEs segments. Large enterprises segment accounted for the largest market share. Based on industry, the APAC cloud communication platform market is segmented into BFSI, IT & Telecom, Healthcare, Retail, Government, Education, and Others. In 2020, the BFSI segment accounted for the largest market share. Based on country, the APAC cloud communication platform market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the cloud communication platform market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are8x8, Inc; Avaya Inc.; Cisco Systems, Inc.; Intrado Corporation; NetFortis; Plivo Inc.; Telestax, Inc.; Twilio Inc; and Vonage Holdings Corp.
Reasons to buy report
To understand the APAC cloud communication platform market landscape and identify market segments that are most likely to guarantee a strong return.
Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC cloud communication platform market.
Efficiently plan M&A and partnership deals in APAC cloud communication platform market by identifying market segments with the most promising probable sales.
Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC cloud communication platform market.
Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APACCloud Communication Platform MarketSegmentation
The List of Companies - Asia Pacific Cloud Communication Platform Market
8x8, Inc
Avaya Inc.
Cisco Systems, Inc.
Intrado Corporation
NetFortris
Plivo Inc.
Telestax, Inc.
Twilio Inc
Vonage Holdings Corp.
Frequently Asked Questions
How big is the Asia Pacific Cloud Communication Platform Market?
The Asia Pacific Cloud Communication Platform Market is valued at US$ 1,102.60 Million in 2021, it is projected to reach US$ 6,394.55 Million by 2028.
What is the CAGR for Asia Pacific Cloud Communication Platform Market by (2021 - 2028)?
As per our report Asia Pacific Cloud Communication Platform Market, the market size is valued at US$ 1,102.60 Million in 2021, projecting it to reach US$ 6,394.55 Million by 2028. This translates to a CAGR of approximately 28.5% during the forecast period.
What segments are covered in this report?
The Asia Pacific Cloud Communication Platform Market report typically cover these key segments-
Component (Solution, Service)
Enterprise Size (SMEs, Large Enterprises)
Industry (BFSI, IT & Telecom, Healthcare, Retail, Government, Education)
What is the historic period, base year, and forecast period taken for Asia Pacific Cloud Communication Platform Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Cloud Communication Platform Market report:
Historic Period : 2019-2020
Base Year : 2021
Forecast Period : 2022-2028
Who are the major players in Asia Pacific Cloud Communication Platform Market?
The Asia Pacific Cloud Communication Platform Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
8x8, Inc
Avaya Inc.
Cisco Systems, Inc.
Intrado Corporation
NetFortris
Plivo Inc.
Telestax, Inc.
Twilio Inc
Vonage Holdings Corp.
Who should buy this report?
The Asia Pacific Cloud Communication Platform Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Asia Pacific Cloud Communication Platform Market value chain can benefit from the information contained in a comprehensive market report.
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