Cloud Telephony Service Market was valued at USD 24.70 Bn in 2022 and is expected to reach USD 66.98 Bn by 2030 at a CAGR of 13.28% over the forecast period 2022-2030.

Cloud Telephony Service Market Overview:

Cloud telephony is used to move business phone systems to the cloud as an alternative to traditional telephony. The smartest and most convenient way to manage business calls without compromising call quality and cost. Hosted by third parties accessed over the public internet, it enables businesses to communicate reliably without additional burdens on infrastructure and capital expenditures. It helps businesses establish a more streamlined, structured, and controlled mode of communication with consumers. Additionally, cloud telephony services offer multiple benefits such as attractive user interfaces, cost-effectiveness, business call tracking, easy and quick setup, call reports, and security over the network, making them adopted by businesses around the world. Cloud telephony service market growth.

Cloud Telephony Service Market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Cloud Telephony Service Market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In December 2020: Tata Tele Business Services launched a cloud-based communications solution for enterprises that provides hybrid connectivity between customers, employees and vendors across multiple platforms. The solution enables intelligent routing of customer calls, API integration, call sentiment analysis, and text and voice conversions, along with on-demand scalability and built-in security, without additional capital expenditure.

Major Market Segments Covered in Cloud Telephony Service Market Industry Research:

Market Key Players:
8x8, Inc., AVOXI, BroadSoft, Cisco Systems, Inc., DIALPAD, Exotel Techcom Pvt. Ltd., Go 2 Market India Pvt. Ltd., Knowlarity Communications Pvt Ltd., LeadNXT, Megapath, Microsoft Corporation, Mitel Networks Corporation, Natterbox Ltd., NetFortis, Nextiva, NFON AG, NovaCloud Pty Ltd., NTT Communications, PortaOne, Inc., Redcentric plc., RingCentral, Inc., Singtel, Solutions Infini., Telviva, Tripudio Ltd., VoIPStudio, Vonage Intermedia.net, Inc., Vox Telecom

By Type:

• Hosted
• Cloud

By Enterprise Size:

• Small & Medium Enterprises (SME’s)
• Large Enterprises

By Network:

• Public Switched Telephone Networks (PSTNs)
• Voice over Internet Protocol (VoIP)

By Application:

• Conferencing
• Multi-level IVR
• Sales & Marketing
• Customer Relationship Management (CRM)
• Others

By Region:

North America is expected to dominate the cloud telephony services market due to significant adoption of cloud-based services in the region. The United States and Canada are the major market-leading countries across North America. This growth is driven by an advanced information technology infrastructure that runs enterprise applications and provides seamless services. Growing demand for advanced telecom services is another important factor driving the market.

Europe is likely to witness significant growth globally owing to technological advancements in the European telecommunications industry. The migration of the European industry to cloud-based services is likely to propel the market for cloud telephony services.

Asia Pacific will emerge as the region with the most opportunity for growth in the predictive maintenance market, driven by enterprises' shift to cloud telephony services. Cumulative adoption of cloud services for continued digitization and lower operating costs is a key factor driving cloud telephony services in the region.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

A major factor driving the growth of the cloud telephony services market is the shift by telecom vendors from traditional phone lines to IP telephony services. This migration is due to the control and higher return on investment (ROI) provided by cloud telephony services. Cloud telephony services are a cost-effective alternative to traditional telephony systems that include ISDN and PSTN. Increasing penetration of mobile devices is one of the significant factors driving market growth globally. Apart from this, increasing penetration of electricity and internet services in developing countries has further expanded cloud telephony market opportunities. The ever increasing trend of digitization and cumulative demand for software as a service (SaaS) tools will propel the market growth. The advantages provided by cloud services such as scalability, affordability, 24/7 availability, flexibility, auto-update capability, and large storage space drive the demand for cloud-based solutions. Similarly, various advantageous features such as call reporting and call tracking options, cost effectiveness, user-friendly interface, etc. are likely to propel the cloud telephony services market growth.

Cloud Telephony Service Market report scope:

Report Attributes	Details
Growth Rate	CAGR of 13.28% from 2022 to 2030.
By Type	Cloud, Hosted
By Application	Conferencing, Multi-level IVR, Sales & Marketing, Customer Relationship Management (CRM), Others
By Companies	8x8, Inc., AVOXI, BroadSoft, Cisco Systems, Inc., DIALPAD, Exotel Techcom Pvt. Ltd., Go 2 Market India Pvt. Ltd., Knowlarity Communications Pvt Ltd., LeadNXT, Megapath, Microsoft Corporation, Mitel Networks Corporation, Natterbox Ltd., NetFortis, Nextiva, NFON AG, NovaCloud Pty Ltd., NTT Communications, PortaOne, Inc., Redcentric plc., RingCentral, Inc., Singtel, Solutions Infini., Telviva, Tripudio Ltd., VoIPStudio, Vonage Intermedia.net, Inc., Vox Telecom
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

Key Takeaways from this Cloud Telephony Service Market Report

• Estimate Cloud Telephony Service Market potential by analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors, and opportunities.
• Get a quick viewpoint on the Cloud Telephony Service Market entropy - M&A's, deals, partnerships, and product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Cloud Telephony Service Market?

The Cloud Telephony Service Market is growing at a CAGR of 13.28% During the Forecast Period.

 What are the key types of Cloud Telephony Service Market?

Cloud, Hosted

What are the key applications of Cloud Telephony Service Market?

Conferencing, Multi-level IVR, Sales & Marketing, Customer Relationship Management (CRM), Others

Who are the key players in Cloud Telephony Service Market?

8x8, Inc., AVOXI, BroadSoft, Cisco Systems, Inc., DIALPAD, Exotel Techcom Pvt. Ltd., Go 2 Market India Pvt. Ltd., Knowlarity Communications Pvt Ltd., LeadNXT, Megapath, Microsoft Corporation, Mitel Networks Corporation, Natterbox Ltd., NetFortis, Nextiva, NFON AG, NovaCloud Pty Ltd., NTT Communications, PortaOne, Inc., Redcentric plc., RingCentral, Inc., Singtel, Solutions Infini., Telviva, Tripudio Ltd., VoIPStudio, Vonage Intermedia.net, Inc., Vox Telecom