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Global Cloud Telephony Service Market to reach USD 41.97 billion by the end of 2029.

Global Cloud Telephony Service Market Size study & Forecast, by Deployment Model (Cloud, Hosted), By Network (Public Switched Telephone Networks (PSTNs), Voice over Internet Protocol (VoIP)), By Application (Conferencing, Multi-level IVR, Sales & Marketing, Customer Relationship Management (CRM)), By End User (BFSI, Government, Telecom & IT, Healthcare, Others) and Regional Analysis, 2022-2029

Product Code: ICTBC-32096748
Publish Date: 17-04-2023
Page: 200

Global Cloud Telephony Service Market is valued at approximately USD 18.72 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 10.62% over the forecast period 2022-2029. Cloud Telephony Service is a telephonic service that runs over the internet, used by cloud telephony, based on hosted PBX solutions. The Cloud Telephony Service market is expanding because of factors such as the increasing need for telecommunication solutions and the rising adoption of cloud-based services.

Business communications are streamlined by using cloud telephony services to move telephony systems to the cloud. Its prevalence has progressively increased during the last few decades. According to Statista, in 2020, the leading telecommunications operator worldwide was the American company AT&T with sales of around USD 172.85 billion. The second biggest operator was the American company Verizon with USD 125.75 billion in sales. Furthermore, the total number of mobile subscriptions is estimated to have exceeded eight billion in 2019, reaching 8.3 billion subscriptions. In 2021, this figure increased to 8.6 billion. Another important component driving space increasing the adoption of cloud services. As per Statista, in 2021, the global cloud applications market had a value of USD 133.6 billion and is expected to reach 168.6 billion U.S. dollars by 2025. The cloud applications software market is anticipated to grow at a compound annual growth rate of 4.8 per cent. In addition, In the first quarter of 2022, the most popular vendor in the cloud infrastructure services market, is Amazon Web Services, acoounts 33% of the entire market and Microsoft Azure is at second place with 21% market share, followed by Google Cloud with 8% of market share. Together, these three cloud vendors account for 62% of total spending in 2022. Also, rising technological advancement and increasing penetration of mobile devices would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Cloud Telephony Service stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Cloud Telephony Service Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, due to the significant adoption of cloud-based services in the region. The two countries that dominate the North American market are the United States and Canada. According to Statista, the Public Cloud market is projected to reach USD 273.40 billion in 2023. The market’s largest segment is Software as a Service with a projected market volume of USD 143.10 billion in 2023 and expected to show an annual growth rate of 11.23% between 2023 to 2027, resulting in a market volume of USD 418.50 billion by 2027. Furthermore, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising technological advancements in the European telecommunication industry. As they gradually migrate towards cloud-based services in the market space.

Major market player included in this report are:
8×8, Inc.
BroadSoft, Inc
Cisco Systems, Inc
Dialpad Inc
Exotel Techcom Pvt. Ltd
Go 2 Market India Pvt. Ltd
Knowlarity Communications Pvt. Ltd
Microsoft Corporation

Recent Developments in the Market:
Ø In June 2021, Exotel, and Ameyo, announced a merger to create the largest customer engagement cloud platform in the emerging markets, with a presence in 60 countries and an ARR of 40 million USD.

Global Cloud Telephony Service Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Deployment Model, Application, Network, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment Model

By Network
Public Switched Telephone Networks (PSTNs)
Voice over Internet Protocol (VoIP)

By Application
Multi-level IVR
Sales & Marketing
Customer Relationship Management (CRM)

By End User
Telecom & IT

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Cloud Telephony Service Market, by Region, 2019-2029 (USD Billion)
1.2.2. Cloud Telephony Service Market, by Deployment Model, 2019-2029 (USD Billion)
1.2.3. Cloud Telephony Service Market, by Network, 2019-2029 (USD Billion)
1.2.4. Cloud Telephony Service Market, by Application, 2019-2029 (USD Billion)
1.2.5. Cloud Telephony Service Market, by End User, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cloud Telephony Service Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cloud Telephony Service Market Dynamics
3.1. Cloud Telephony Service Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing need for telecommunication solutions Rising adoption of cloud services
3.1.2. Market Challenges High Cost of Cloud Telephony Service
3.1.3. Market Opportunities Rising technological advancement Increasing penetration of mobile devices
Chapter 4. Global Cloud Telephony Service Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Cloud Telephony Service Market, by Deployment Model
6.1. Market Snapshot
6.2. Global Cloud Telephony Service Market by Deployment Model, Performance – Potential Analysis
6.3. Global Cloud Telephony Service Market Estimates & Forecasts by Deployment Model 2019-2029 (USD Billion)
6.4. Cloud Telephony Service Market, Sub Segment Analysis
6.4.1. Cloud
6.4.2. Hosted
Chapter 7. Global Cloud Telephony Service Market, by Network
7.1. Market Snapshot
7.2. Global Cloud Telephony Service Market by Network, Performance – Potential Analysis
7.3. Global Cloud Telephony Service Market Estimates & Forecasts by Network 2019-2029 (USD Billion)
7.4. Cloud Telephony Service Market, Sub Segment Analysis
7.4.1. Public Switched Telephone Networks (PSTNs)
7.4.2. Voice over Internet Protocol (VoIP)
Chapter 8. Global Cloud Telephony Service Market, by Application
8.1. Market Snapshot
8.2. Global Cloud Telephony Service Market by Application, Performance – Potential Analysis
8.3. Global Cloud Telephony Service Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4. Cloud Telephony Service Market, Sub Segment Analysis
8.4.1. Conferencing
8.4.2. Multi-level IVR
8.4.3. Sales & Marketing
8.4.4. Customer Relationship Management (CRM)
Chapter 9. Global Cloud Telephony Service Market, by End User
9.1. Market Snapshot
9.2. Global Cloud Telephony Service Market by End User, Performance – Potential Analysis
9.3. Global Cloud Telephony Service Market Estimates & Forecasts by End User 2019-2029 (USD Billion)
9.4. Cloud Telephony Service Market, Sub Segment Analysis
9.4.1. BFSI
9.4.2. Government
9.4.3. Telecom & IT
9.4.4. Healthcare
9.4.5. Others
Chapter 10. Global Cloud Telephony Service Market, Regional Analysis
10.1. Cloud Telephony Service Market, Regional Market Snapshot
10.2. North America Cloud Telephony Service Market
10.2.1. U.S. Cloud Telephony Service Market Deployment Model breakdown estimates & forecasts, 2019-2029 Network breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029 End User breakdown estimates & forecasts, 2019-2029
10.2.2. Canada Cloud Telephony Service Market
10.3. Europe Cloud Telephony Service Market Snapshot
10.3.1. U.K. Cloud Telephony Service Market
10.3.2. Germany Cloud Telephony Service Market
10.3.3. France Cloud Telephony Service Market
10.3.4. Spain Cloud Telephony Service Market
10.3.5. Italy Cloud Telephony Service Market
10.3.6. Rest of Europe Cloud Telephony Service Market
10.4. Asia-Pacific Cloud Telephony Service Market Snapshot
10.4.1. China Cloud Telephony Service Market
10.4.2. India Cloud Telephony Service Market
10.4.3. Japan Cloud Telephony Service Market
10.4.4. Australia Cloud Telephony Service Market
10.4.5. South Korea Cloud Telephony Service Market
10.4.6. Rest of Asia Pacific Cloud Telephony Service Market
10.5. Latin America Cloud Telephony Service Market Snapshot
10.5.1. Brazil Cloud Telephony Service Market
10.5.2. Mexico Cloud Telephony Service Market
10.5.3. Rest of Latin America Cloud Telephony Service Market
10.6. Rest of The World Cloud Telephony Service Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. 8×8, Inc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. AVOXI
11.2.3. BroadSoft, Inc
11.2.4. Cisco Systems, Inc
11.2.5. Dialpad Inc
11.2.6. Exotel Techcom Pvt. Ltd
11.2.7. Go 2 Market India Pvt. Ltd
11.2.8. Knowlarity Communications Pvt. Ltd
11.2.9. LeadNXT
11.2.10. Microsoft Corporation

Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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