Cloud Communication Platform Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

Cloud Communication Platform Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Service); Enterprise Size (SMEs and Large Enterprises), and Industry (BFSI, IT & Telecom, Healthcare, Retail, Government, Education, Others), and by Geography

  • Report Code : TIPRE00009720
  • Category : Technology, Media and Telecommunications
  • No. of Pages : 150

Cloud Communication Platform Market Scope (2021-2031)

Buy Now

The cloud communication platform market size is projected to reach US$ 44.07 billion by 2031 from US$ 7.27 billion in 2023. The market is expected to register a CAGR of 25.3% during 2023–2031. The integration of AI and ML technologies is likely to remain a key trend in the market.

Cloud Communication Platform Market Analysis

The rising trend of bring-your-own-device (BYOD) with the emphasis on offering flexible work options is favoring the cloud communication platform market growth.

Cloud Communication Platform Market Overview

The phrase "cloud" refers to a complex system of interconnected computer platforms, networks, and applications that users access via the internet. Rather than requiring a huge computer (server) at the workplace to store and exchange files, all processing, storage, networking, and application resources are accessible over the Internet. Key suppliers give a large amount of processing power, which your team only uses a percentage of. This allows the team to access only the amount of computing power or storage they require at any one time, rather than having to manage a large server. This allows the IT team to focus on what's most essential for the organization rather than the complications of ensuring servers are safe, cooled, and maintained.  Using a Cloud Communications Platform will considerably lower costs while increasing company agility.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Cloud Communication Platform Market: Strategic Insights

Cloud Communication Platform Market
  • CAGR
    CAGR (2023 - 2031)
    25.3%
  • Market Size 2023
    US$ 7.27 Billion
  • Market Size 2031
    US$ 44.07 Billion

Market Dynamics

GROWTH DRIVERS
  • Rising Need of Bring Your Own Device
FUTURE TRENDS
  • Integration of AI and ML technologies
OPPORTUNITIES
  • Growing usage of Unified Communications (UC)

Key Players

  • 8X8 INC
  • Avaya Inc
  • CallFire
  • Cisco Systems Inc
  • NetFortris
  • Vonage
  • Plivo Inc
  • Telestax Inc
  • TWILIO INC
  • Intrado

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentComponent
  • Solution and Service
Market SegmentEnterprise Size
  • SMEs
  • Large Enterprises
Market SegmentIndustry
  • BFSI
  • IT & Telecom
  • Healthcare
  • Retail
  • Government
  • Education
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Cloud Communication Platform Market Drivers and Opportunities

Rising Need of Bring Your Own Device to Favor Market

The BYOD (bring your own device) policy allows employees to use their personal devices for corporate purposes. This practice involves storing data on the cloud. The data can be viewed from anywhere, anytime, without any challenges. The growing trend of BYOD in the corporate sector is a key enabler of the cloud communication platform market across the globe. Mobility has been noted as one of the three most important collaboration trends for SMEs (Small and Medium-sized enterprises), with ~67% of employees now dealing with their own devices at work and close to 39% of businesses adopting a formal BYOD policy. By enabling employees’ devices with cloud services, SMEs provide their employees access to everything they need to perform their tasks, either at home or in the office.

Further, according to Cisco Systems, Inc. report, the BYOD concept enhances the productivity of employees. It also shows that 36% of users have been found to be hyper-productive. Cloud communication platform vendors are continuously building infrastructure to support BYOD implementation in the corporate sector by connecting applications, such as enterprise social media and security policy portals, many leading toward managed mobility services (MMS).

Growing usage of Unified Communications (UC)

UC technology allows for the integration of software that supports both real-time communications (RTC), such as phone over IP (VoIP), and asynchronous communication, such as persistent chat, ensuring that the end-user has simple, quick access to all important tools in a consistent environment from any physical location or digital device. Many UC products incorporate -- or even rely on -- team collaboration tools with messaging-centric processes and collaborative capabilities like real-time file sharing and annotation. These next-generation UC systems are often known as unified communications and collaboration (UCC).

Cloud Communication Platform Market Report Segmentation Analysis

Key segments that contributed to the derivation of the cloud communication platform market analysis are component, enterprise size, and industry.

  • Based on component, the market is segmented by solution and services. The solution segment held a significant market share in 2023.
  • Based on enterprise size, the market is segmented into SMEs and large enterprises. The large enterprises segment held a larger market share in 2023.
  • Based on industry, the market is segmented into BFSI, IT & telecom, healthcare, retail, government, education, and others. The IT & telecom segment held the largest share of the market in 2023.

Cloud Communication Platform Market Share Analysis by Geography

The geographic scope of the cloud communication platform market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America dominated the cloud communication platform market in 2023. This dominance is linked to the region's increased use of cloud-based services. The presence of various cloud-based service providers also adds to the growth of the market in North America. Moreover, the success of cloud-based providers such as Google has proved the efficacy and cost-effectiveness of cloud platforms. Cloud communications provides voice, data, and video services, giving consumers more alternatives than local or regional providers. The appeal of cloud communications encourages the growth of cloud communication systems.

Cloud Communication Platform Market Report Scope

Report Attribute Details
Market size in 2023 US$ 7.27 Billion
Market Size by 2031 US$ 44.07 Billion
Global CAGR (2023 - 2031) 25.3%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Component
  • Solution and Service
By Enterprise Size
  • SMEs
  • Large Enterprises
By Industry
  • BFSI
  • IT & Telecom
  • Healthcare
  • Retail
  • Government
  • Education
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 8X8 INC
  • Avaya Inc
  • CallFire
  • Cisco Systems Inc
  • NetFortris
  • Vonage
  • Plivo Inc
  • Telestax Inc
  • TWILIO INC
  • Intrado
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Cloud Communication Platform Market News and Recent Developments

The cloud communication platform market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the cloud communication platform market are listed below:

  • Vonage, a global leader in cloud communications helping businesses accelerate their digital transformation and a part of Ericsson, expanded its Vonage Premier for Service Cloud Voice solution to include integration with Salesforce Einstein Conversation Insights. These AI-powered insights and analytics will empower brands to enhance the agent and customer experience with intelligent, global calling capabilities - all within Salesforce Service Cloud Voice. (Source: Vonage, Press Release, May 2024)
  • Cisco Builds On Security Platform Strategy, Unveiled Unified Networking Platform. (Source: Cisco, Press Release, June 2023)

Cloud Communication Platform Market Report Coverage and Deliverables

The “Cloud Communication Platform Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Cloud Communication Platform market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Cloud Communication Platform market trends as well as market dynamics such as drivers, restraints, and key opportunities
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Cloud Communication Platform market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Cloud Communication Platform market
  • Detailed company profiles
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

This text is related
to segments covered.

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

This text is related
to country scope.

Frequently Asked Questions


Which region dominated the cloud communication platform market in 2023?

North America dominated the cloud communication platform market in 2023.

What are the driving factors impacting the cloud communication platform market?

The rising trend of bring-your-own-device (BYOD) with the emphasis on offering flexible work options is favoring the cloud communication platform market growth.

What are the future trends of the cloud communication platform market?

The integration of AI and ML technologies is likely to remain a key trends in the market.

Which are the leading players operating in the cloud communication platform market?

8X8, INC, Avaya Inc., CallFire, Cisco Systems, Inc., and NetFortris are among the leading cloud communication platform market.

What would be the estimated value of the cloud communication platform market by 2031?

The estimated value of the cloud communication platform market is expected to reach US$ 44.07 billion by 2031.

What is the expected CAGR of the cloud communication platform market?

The market is expected to grow at a CAGR of 25.3% over the forecast period.

Trends and growth analysis reports related to Technology, Media and Telecommunications : READ MORE..