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The cloud communication platform market is estimated to grow from USD 1.36 Billion by 2016 to USD 4.45 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 26.8% from 2016 to 2021. 2014 has been considered as the historical year and 2015 as the base year for performing the market estimation and forecasting. The tremendous growth of Business Process Outsourcing (BPO) sectors has increased the demand for cloud communication platform solutions and services. Along with this, the seismic shift in communication market, the increasing demand for BYOD, and the cost effectiveness of cloud-based communication platform solutions have contributed significantly towards the growth of the market. The organizations are adopting advanced cloud-based communication solutions to eliminate the pitfalls of traditional PBX (Private Branch Exchange) systems. Nowadays, organizations are experiencing a significant need for the adoption of cloud communication platform solutions to keep themselves updated with the technological advancements in the communication market. This market is segmented into various application types across regions such as North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market has also been segmented on the basis of verticals into Banking, Financial Services, and Insurance (BFSI), healthcare, telecommunication and IT-Enabled Services (ITES), government, retail, travel and hospitality, education, manufacturing, and other verticals. The research methodology used to estimate and forecast the cloud communication platform market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments which were then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. These data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the below figure: 
The cloud communication platform market ecosystem comprises cloud communication platform solution and service vendors, such as 8x8, Inc.; Avaya, Inc.; Cisco Systems, Inc.; Twilio, Inc.; NetFortris, Inc.; West IP Communications, Inc.; Telestax, Inc., Plivo, Inc.; CallFire, Inc.; and Nexmo, Inc. A few other major vendors such as IBM Corporation, Alcatel-Lucent, Mitel Networks Corporation, and Genesys Telecommunication offer comparatively narrower, yet locally-effective solutions and distribution networks in the market ecosystem. These vendors offer strategically innovated cloud communication platform solutions and services to the end users in various industrial verticals. Stake Holders - Cloud solution providers
- Government agencies
- System integrators
- Investors and venture capitalists
- Cloud service providers
- Internet application developers and service providers
- Teleconferencing hardware and software suppliers and service providers
- Telecommunication service providers
Scope of the Report The cloud communication platform market report is broadly segmented into the following solutions, services, organization size, verticals, and regions. Global Market, by Solution - Unified Communication and Collaboration (UCC/UCaaS)
- Web Real-Time Communication (WebRTC)
- Interactive Voice Response (IVR)
- Voice over Internet Protocol (VoIP)
- Application Programming Interface (API)
- Reporting and Analytics
Global Market, by Service - Training and consulting
- Support and maintenance
- Managed services
Global Market, by Organization Size - Large enterprises
- Small and Medium Enterprises (SME)
Global Market, by Vertical - BFSI
- Healthcare
- Telecommunication and ITES
- Government
- Retail
- Travel and hospitality
- Education
- Manufacturing
- Others
Global Market, by Region - North America
- Europe
- APAC
- MEA
- Latin America
Available Customizations With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report: Product Analysis - Product Matrix which gives a detailed comparison of the product portfolio of each company
Geographic Analysis - Further breakdown of the rest of Asia-Pacific cloud communication platform market into South Korea, Australia, New Zealand, and others
- Further breakdown of the Latin American cloud communication market into Brazil, Argentina, and the rest of Latin America
Company Information - Detailed analysis and profiling of additional market players (Up to 5)
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