Published Date : Feb 26, 2018
ALBANY, New York, February 26, 2018: MarketResearchReports.biz has added yet another new market study to its database, titled, “Cloud Telephony Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025.” The report is a valuable source of information on the relatively new communication technology which is making waves in many sectors. Overall, it intends to help players understand the prospects in the market and grow in tandem with it.
In cloud telelphony services, which is a messaging and voice delivery service, all communication devices and applications are hosted in the premises of the service provider. Entities simply need to sign up for the services to access those for a monthly or yearly subscription. This saves them the hassle of installing any software or buying hardware to start the services. The services can range from IVR, call recordings, call center setup, and others. They can be accessed on a wide range of devices starting from traditional phone or smartphone to a computer system comprising of laptops, desktops, or tablets.
Typically, the cloud telephony services operates through two types of network – PSTN and IP. In fact, most of the western countries have internet linked calling or VoIP, for providing Cloud Telephony services. In this manner cloud telephony does away with traditional business telephone systems, namely the private branch exchange (PBX) and electronic private automatic branch exchange (EPABX).
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Cloud telephony services market is seeing breakout success on account of most business organizations going global these days. Apart from that, developments such as automated calling and metering systems to keep a tab on the inbound, outbound, or spam calls, in order to optimize usage of resources is also leading to the uptake of services. Using cloud telephony, one can access documents stored in the cloud network.
Cloud telephony is a virtually hosted system and provides myriad advantages mainly to small businesses that lack the capital required to set up their own communicating system. And with the banking upon progressive calling services that allow employees to work on the go, they can devote more time to their main activities.
However, a prerequisite for cloud telephony services is proper working instruments and stable internet connection. Apart from that, security challenges on account of the network being susceptible to getting corrupted due to phishing or spamming is also an issue for the cloud telephony services market. Despite such hiccups the market is predicted to soar on account of the ability of such solutions to reduce costs for companies and make operations more seamless.
Industry-wise, the key segments of the global market for cloud telephony services are academic field, government agencies, and commercial field. Government agencies, among them, generate maximum demand, since cloud telephony enables them to facilitate and better communication at a reduced price. Cloud telephony services market, based on the channel of sale, can again be categorized into direct sales and distributors. Region-wise, the cloud telephony services market can be categorized into North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific among them holds out maximum promise due to the mushrooming BPOs in the region.
Knowlarity Communications Pvt Ltd., Vonage Intermedia.net, Inc., VoIPStudio, NetFortis, DIALPAD, Microsoft Corporation, Exotel Techcom Pvt. Ltd., Nextiva, Mitel Networks Corporation, Megapath, and RingCentral, Inc. are to name a few key players operating in the global market for cloud telephony services market.
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