Cloud Communication Platforms Market

Reached the clouds already – cloud communication platform to witness exponential growth during the 2017-2027 timeline

According to Future Market Insights, the global cloud communication platform market is anticipated to witness an exponential rise in revenue from the base period 2017 supported by a stellar growth rate throughout the 2017-2027 assessment period. The global market for cloud communication platform is estimated to reach an enormous market valuation of about US$ 12 Bn by the end of 2027, starting from a mere value of around US$ 1.4 Bn in 2017. This super growth and market standings of cloud communication platforms is supported by its rising acceptance worldwide and hence registering a stunning 8.5x increase in market valuation during the 2017-2027 period. The global cloud communication platform market is anticipated to reflect a higher absolute dollar opportunity during the period of assessment. The compounded annual growth rate with respect to value to be radiated from the global cloud communication platform market is 21.7% throughout the period of assessment.

UCaaS solution reflects an extremely high potential in terms of growth during 2017-2027

The UCaaS segment by solution type is anticipated to reflect a high value by the end of 2027 showing a vast difference in values of other segments by solution type combined together on a comparative basis. In the base year 2017, this segment was estimated at US% 700 Mn and is anticipated to reach a valuation of about US$ 7.3 Bn by 2027. This high increase is due to increased adoption of this solution type. The UCaaS solution segment is projected to grow at the highest rate to register a CAGR of 26.3% throughout the period of forecast 2017-2027. The UCaaS segment is likely to dominate the global market in terms of growth rate as well as market valuation during the forecast period and can be inferred to reflect a high potential in the coming years.

Video conferencing and IVR to show similar pace

By solutions, the video conferencing and IVR segments are likely to show similar growth rates. These segments are expected to portray stellar growth in the years to follow. The main difference between these segments is the frequency of use which impacts the market valuation by the end of the forecast period. Throughout the period of assessment, the IVR segment is projected to grow at a high CAGR of 19.0% and the video conferencing segment is anticipated to grow at a CAGR of 19.6%. However, the IVR segment is expected to show high market valuation of about US$ 1.5 Bn by 2027 end and the video conferencing segment is estimated to show a valuation of about US$ 1.3 Bn by the end of 2027.

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Regional analysis – trio show outstanding statistics

The global cloud communication platform market is soaring across important regions especially North America, Western Europe and Asia Pacific excluding Japan (APEJ). In North America the UCaaS segment by solutions leads the market following by IVR segment. IVR segment is anticipated to grow at a higher rate than the video conferencing segment in this region. In Western Europe, the WebRTC and VoIP segments is gaining slow acceptance. Video conferencing segment in this region holds high potential after UCaaS segment as it reflect a high growth rate than IVR with less difference in market valuation. Video conferencing segment is poised to register a CAGR of 23.4% throughout the period of forecast 2017-2027. UCaaS segment portrays the highest growth rate in Asia Pacific excluding Japan (APEJ) as compared to other regions by registering a stunning 33.1% CAGR in the 2017-2027 timeline. In APEJ also the video conferencing segment has a bright future in the coming years.