North America Cloud Communication Platform Market Share and Forecast by 2027

The North America cloud communication platform market was valued at US$ 1,106.6 million in 2019 and is projected to reach US$ 5,592.5 million by 2027; it is expected to grow at a CAGR of 22.6% from 2020 to 2027.

Cloud communication is an internet-based data and voice communication methodology that allows employees to work from any device such as mobile and tablet that is not present on company premises. The cloud communication platforms allow developers to modify application program interface (API), thereby allowing them to decide the interaction of the cloud communication platforms product with SMS, voice, video, and verification features. 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. Rising BYOD policies at the workplace overburdens the communication networks at workplaces, and the deployment of cloud communication platforms helps solve the network congestion issues. Surge in demand for connected devices, and increase in the adoption of the Internet of Things (IoT) and cloud-based services are the major factors driving the market growth. Further, the speed of internet connection is a key factor governing the cloud communication platform market growth.

Impact of COVID-19 Pandemic on North America Cloud Communication Platform Market

With the lockdown being compulsory across the globe, there has been a sudden rise in remote working or work from home. Many organizations and industries have adopted cloud communication platform to continue their business. Due to this, there has been a sudden rise in the requirement for cloud communication platforms, such as unified communication and collaboration, web real-time communication, interactive voice response, voice over internet protocol, application programming interface, and reporting and analytics. Small and medium-sized enterprises (SMEs) are continuously adopting cloud telephony services mainly due to cost efficiency and limited capital investment required for deploying the setup.

Cloud Communication Market Insights

Growing Trend of Bring Your Own Device

The Bring-Your Own Device (BYOD) policy allows employees to use their personal devices for corporate purposes, and this practice involves storing data on the cloud, and further, it can be viewed from anywhere, anytime without any challenges. However, the growing trend of BYOD in the corporate sector in North America is a key enabler of the cloud communication platform market in the region. The mobility has been noted as one of the three most important collaboration trends for SMEs (Small and Medium-sized enterprise) 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’ personal devices with cloud services, SMEs provide their employees access to everything they need to perform their tasks, either at home or in office. The BYOD concept enhances productivity of employees; 36% of users have been found to be “hyperproductive”. 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).

Enterprise Size Type Insights

Based on enterprise size, large enterprises led the Cloud Communication platform market in 2020. The benefits conferred by cloud communication platform are enough to attract large enterprises to adopt the cloud communication platform for their organizations. In any organization, communication is considered as the critical component. With the expansion of a large enterprises, the communication and collaboration becomes difficult. Cloud communication platforms help address such concerns, but it is vital to ensure that the solution selected comprise the right functionality. Large enterprises across the world are focused on cost optimization, along with increasing overall productivity.

Vertical Market Insights

On the basis of vertical, the North America cloud communication platform market is segmented into BFSI, Healthcare, IT and Telecommunication, government, retail, travel and hospitality, education, and others. BFSI segment led the Cloud Communication platform market in 2019. The financial world and BFSI sector are nowadays experiencing from traditional methods to app-based methods including cloud based platform. Banks, insurance companies, Payment Service Providers and Fintech startups are nowadays extensively looking for innovative and reliable services, identification methods and fraud prevention. However, various cloud based platforms are secure and reliable methods to streamline business, enhance quality of service and minimize overheads simply by combining the voice, video, chat, SMS and numbers API into your applications.

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North America Cloud Communication Platform Market: Strategic Insights

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Market initiative is a strategy that is primarily adopted by companies to expand their footprints across the world and meet the growing customer demands. The market players present in the pin and sleeve device market mainly focus on the development of advanced and efficient products. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world, they maintain their brand name globally.

• In 2020, Tata Communications declared that it has integrated Cisco Webex Calling with its industry leading global voice platform.
• In 2019, Vonage, declared a strategic reseller partnership of Vonage Contact Center with Evolution, a global provider of cloud-based services across Spain. This agreement reinforces Evolutio’s position as a leading independent cloud-based service provider in the region.

North America Cloud Communication Platform Market – by Solution

• Unified Communication and Collaboration (UCC/UCaaS)
• Web Real-Time Communication (WebRTC)
• Interactive Voice Response (IVR)
• Application Programming Interface (API)
• Reporting and Analytics

North America Cloud Communication Platform Market – by Service

• Training and Consulting
• Support and Maintenance
• Managed Service

North America Cloud Communication Platform Market – by Organization Size

• Small- and Medium Sized Enterprises
• Large Enterprises

North America Cloud Communication Platform Market – by Vertical

• BFSI
• IT and Telecommunication
• Retail
• Government
• Education
• Others

Company Profiles

• CallFire
• Avaya Inc.
• Cisco Systems, Inc.
• NETFORTRIS
• PLIVO INC
• TELESTAX, INC
• TWILIO INC
• VONAGE
• WEST IP COMMUNICATIONS, INC
• 8X8, INC.

Report Scope

North America Cloud Communication Platform Market Regional Insights

The regional trends and factors influencing the North America Cloud Communication Platform Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses North America Cloud Communication Platform Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

North America Cloud Communication Platform Market Report Scope

North America Cloud Communication Platform Market Players Density: Understanding Its Impact on Business Dynamics

The North America Cloud Communication Platform Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the North America Cloud Communication Platform Market are:

1. CallFire
2. Avaya Inc.
3. Cisco Systems, Inc.
4. NETFORTRIS
5. PLIVO INC

Disclaimer: The companies listed above are not ranked in any particular order.