Cloud communications is one of the services offered by cloud service providers. Cloud communications is a blend of voice, video, email, and chat in an integrated fashion hosted by a third party over an internet infrastructure and network which are accessible by organization or user anytime and from anywhere. Cloud communication platform provides a reliable, secure, scalable, and flexible service.
Increasing adoption of connected devices, increasing penetration of internet of things, and rising adoption of cloud based services are major factors driving growth of the global cloud communication platform market. In addition, growing trend of bring your own devices policies and pay as you use services are some other factors further fueling growth of the global cloud communication platform market.
Major factors hampering growth of the global cloud communication platform market are high initial cost, third-party dependence for cloud services, and loss of data during shift from traditional system to cloud communication services. In addition, privacy and security concerns regarding confidential data is further hampering growth of the global cloud communication platform market.
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The global cloud communication platform market report has been segmented on the basis of solution type, service type, deployment type, application, and region.
North America dominates the global cloud communication platform market in terms of revenue and is expected to maintain its dominance during the forecast period. This growth is attributed to increasing adoption of cloud based services and availability of number of cloud based services providers in this region. The market in Asia Pacific is projected to witness fastest growth during the forecast period and is expected to register a CAGR of XX.X % during the forecast period. The market in Europe is expected to witness considerable growth during the forecast period.
Key players in cloud communication platform market are Avaya, Inc., Cisco Systems Inc., IBM Corporation, Huawei Technologies Co. Ltd., Microsoft Corporation, Hookflash Inc., Nexmo, Genband US LLC, RingCentral Inc., and Twilio Inc.
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