Cloud Telephony Service Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for cloud telephony services. The report offers an in-depth assessment of key market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global cloud telephony service market from 2024 to 2031.

Key Insights:

Cloud Telephony Service Market Size (2024E): US$ 22.8 Bn
Projected Market Value (2031F): US$ 42.2 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 9.2%

Cloud Telephony Service Market - Report Scope:

Cloud telephony refers to the use of cloud-based services to manage and deliver telecommunication services such as voice calling, messaging, and video conferencing over the internet. By eliminating the need for traditional telephone infrastructure, cloud telephony provides businesses with greater flexibility, scalability, and cost efficiency. The market is driven by growing demand for business communication solutions, the rising adoption of cloud technologies, and the shift towards remote working and digital transformation. Cloud telephony services are widely adopted across various sectors, including customer support, e-commerce, finance, healthcare, and more, enabling businesses to streamline communication processes while ensuring better customer engagement.

Market Growth Drivers:

The global cloud telephony service market is propelled by several key factors. The increasing trend towards digital transformation, especially among small and medium enterprises (SMEs), is a major driver. Businesses are rapidly adopting cloud telephony solutions to reduce operational costs, enhance communication efficiency, and scale their operations seamlessly. Additionally, the growing need for unified communications (UC) platforms that integrate voice, video, and messaging services into a single solution is driving the adoption of cloud telephony. The shift towards remote working, amplified by the COVID-19 pandemic, has also accelerated the demand for cloud-based communication tools that offer flexibility and ease of access from any location.

Market Restraints:

Despite its promising growth, the cloud telephony service market faces certain challenges, particularly related to data security and internet connectivity. Businesses are often concerned about the security and privacy of sensitive customer data handled through cloud platforms. Additionally, the dependence on internet connectivity for seamless communication could pose issues in regions with unreliable or insufficient network infrastructure. Regulatory compliance requirements, especially in industries such as finance and healthcare, may also present hurdles for the widespread adoption of cloud telephony services.

Market Opportunities:

The cloud telephony service market presents significant opportunities driven by innovations in technology and evolving business needs. The increasing integration of artificial intelligence (AI) and machine learning (ML) in cloud telephony platforms is enhancing the capabilities of businesses to provide personalized customer service, predictive analytics, and chatbots for automation. Furthermore, the rise of the Internet of Things (IoT) and 5G networks is expected to further enhance the performance and capabilities of cloud telephony services. The expansion of cloud services into emerging markets also offers considerable growth opportunities as businesses in these regions seek efficient and scalable communication solutions.

Key Questions Answered in the Report:

What are the key factors driving the growth of the cloud telephony service market globally?
How are advancements in cloud technology and AI enhancing the capabilities of cloud telephony platforms?
What are the key challenges associated with data security and compliance in cloud telephony, and how can businesses address them?
Which industries are adopting cloud telephony services the most, and what benefits are they experiencing?
What are the emerging trends in the cloud telephony market, and how will they shape the future of the industry?

Competitive Intelligence and Business Strategy:

Leading players in the global cloud telephony service market, including Twilio Inc., RingCentral, Inc., and 8x8, Inc., are focusing on innovation, strategic partnerships, and acquisitions to strengthen their market positions. These companies are investing in AI, machine learning, and automation technologies to enhance their cloud telephony solutions and improve customer experience. Collaborations with cloud service providers, telecommunications operators, and enterprises across various industries are vital for expanding market reach and strengthening product offerings. As data privacy and regulatory compliance concerns rise, companies are increasingly focusing on building secure, GDPR-compliant platforms to gain customer trust and maintain a competitive edge.

Key Companies Profiled:

Twilio
RingCentral
Vonage
8x8 Inc.
Cisco Webex Calling
Microsoft Corporation
Nextiva
Grasshopper
Dialpad
Mitel
Zoom Phone
Alcatel-Lucent Enterprise

Cloud Telephony Service Industry Segmentation

By Network Type

Public Switched Telephone Network (PTSN)
Voice-over Internet Protocol (VoIP)

By Deployment

Cloud-based
On-premises

By Industry

BFSI
IT and Telecom
Healthcare
Media and Entertainment
Retail and E-commerce
Government and Public Sector

By Region

North America
Europe
East Asia
South Asia and Oceania
Latin America
Middle East and Africa

Product Code: PMRREP34921

1. Executive Summary

1.1. Global Cloud Telephony Service Market Snapshot, 2024 and 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global GDP Growth Outlook
- 2.3.2. Investment in Telecommunication Infrastructure
- 2.3.3. Economic Conditions and IT Budget Allocation
- 2.3.4. Global Internet and Cloud Adoption
- 2.3.5. Cybersecurity Concerns and Threat Levels
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Regulatory Landscape
3.2. Value Chain Analysis
3.3. PESTLE Analysis
3.4. Porter's Five Force Analysis

4. Price Trend Analysis

4.1. Key Highlights
4.2. Key Factors Impacting Cloud Telephony Service Prices
4.3. Pricing Analysis
- 4.3.1. Subscription Analysis
- 4.3.2. Usage-based Analysis

5. Global Cloud Telephony Service Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

5.1. Global Cloud Telephony Service Market Outlook: Network Type
- 5.1.1. Introduction / Key Findings
- 5.1.2. Historical Market Size (US$ Bn) and Analysis, By Network Type, 2019 - 2023
- 5.1.3. Current Market Size (US$ Bn) and Analysis and Forecast, By Network Type, 2024 - 2031
  - 5.1.3.1. Public Switched Telephone Network (PSTN)
  - 5.1.3.2. Voice-over Internet Protocol (VoIP)
5.2. Market Attractiveness Analysis: Network Type
5.3. Global Cloud Telephony Service Market Outlook: Deployment
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) Analysis, By Deployment, 2019 - 2023
- 5.3.3. Current Market Size (US$ Bn) Analysis and Forecast, By Deployment, 2024 - 2031
  - 5.3.3.1. Cloud-based
  - 5.3.3.2. On-premises
5.4. Market Attractiveness Analysis: Deployment
5.5. Global Cloud Telephony Service Market Outlook: Industry
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Bn) Analysis, By Industry, 2019 - 2023
- 5.5.3. Current Market Size (US$ Bn) Analysis and Forecast, By Industry, 2024 - 2031
  - 5.5.3.1. BFSI
  - 5.5.3.2. IT & Telecom
  - 5.5.3.3. Healthcare
  - 5.5.3.4. Media & Entertainment
  - 5.5.3.5. Retail and E-commerce
  - 5.5.3.6. Government and Public Sector
  - 5.5.3.7. Others
5.6. Market Attractiveness Analysis: Industry

6. Global Cloud Telephony Service Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) and Analysis, By Region, 2019 - 2023
6.3. Current Market Size (US$ Bn) Analysis and Forecast, By Region, 2024 - 2031
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Cloud Telephony Service Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Key Highlights
7.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 7.2.1. By Country
- 7.2.2. By Network Type
- 7.2.3. By Deployment
- 7.2.4. By Industry
7.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 7.3.1. U.S.
- 7.3.2. Canada
7.4. Current Market Size (US$ Bn) Analysis and Forecast, By Network Type, 2024 - 2031
- 7.4.1. Public Switched Telephone Network (PSTN)
- 7.4.2. Voice over Internet Protocol (VoIP)
7.5. Current Market Size (US$ Bn) Analysis and Forecast, By Deployment, 2024 - 2031
- 7.5.1. Cloud-based
- 7.5.2. On-premises
7.6. Current Market Size (US$ Bn) Analysis and Forecast, By Industry, 2024 - 2031
- 7.6.1. BFSI
- 7.6.2. IT & Telecom
- 7.6.3. Healthcare
- 7.6.4. Media & Entertainment
- 7.6.5. Retail and E-commerce
- 7.6.6. Government and Public Sector
- 7.6.7. Others
7.7. Market Attractiveness Analysis

8. Europe Cloud Telephony Service Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Key Highlights
8.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 8.2.1. By Country
- 8.2.2. By Network Type
- 8.2.3. By Deployment
- 8.2.4. By Industry
8.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 8.3.1. Germany
- 8.3.2. France
- 8.3.3. U.K.
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Russia
- 8.3.7. Turkey
- 8.3.8. Rest of Europe
8.4. Current Market Size (US$ Bn) Analysis and Forecast, By Network Type, 2024 - 2031
- 8.4.1. Public Switched Telephone Network (PSTN)
- 8.4.2. Voice over Internet Protocol (VoIP)
8.5. Current Market Size (US$ Bn) Analysis and Forecast, By Deployment, 2024 - 2031
- 8.5.1. Cloud-based
- 8.5.2. On-premises
8.6. Current Market Size (US$ Bn) Analysis and Forecast, By Industry, 2024 - 2031
- 8.6.1. BFSI
- 8.6.2. IT & Telecom
- 8.6.3. Healthcare
- 8.6.4. Media & Entertainment
- 8.6.5. Retail and E-commerce
- 8.6.6. Government and Public Sector
- 8.6.7. Others
8.7. Market Attractiveness Analysis

9. East Asia Cloud Telephony Service Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Key Highlights
9.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 9.2.1. By Country
- 9.2.2. By Network Type
- 9.2.3. By Deployment
- 9.2.4. By Industry
9.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Network Type, 2024 - 2031
- 9.4.1. Public Switched Telephone Network (PSTN)
- 9.4.2. Voice over Internet Protocol (VoIP)
9.5. Current Market Size (US$ Bn) Analysis and Forecast, By Deployment, 2024 - 2031
- 9.5.1. Cloud-based
- 9.5.2. On-premises
9.6. Current Market Size (US$ Bn) Analysis and Forecast, By Industry, 2024 - 2031
- 9.6.1. BFSI
- 9.6.2. IT & Telecom
- 9.6.3. Healthcare
- 9.6.4. Media & Entertainment
- 9.6.5. Retail and E-commerce
- 9.6.6. Government and Public Sector
- 9.6.7. Others
9.7. Market Attractiveness Analysis

10. South Asia & Oceania Cloud Telephony Service Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Key Highlights
10.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 10.2.1. By Country
- 10.2.2. By Network Type
- 10.2.3. By Deployment
- 10.2.4. By Industry
10.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 10.3.1. India
- 10.3.2. Southeast Asia
- 10.3.3. ANZ
- 10.3.4. Rest of South Asia & Oceania
10.4. Current Market Size (US$ Bn) Analysis and Forecast, By Network Type, 2024 - 2031
- 10.4.1. Public Switched Telephone Network (PSTN)
- 10.4.2. Voice over Internet Protocol (VoIP)
10.5. Current Market Size (US$ Bn) Analysis and Forecast, By Deployment, 2024 - 2031
- 10.5.1. Cloud-based
- 10.5.2. On-premises
10.6. Current Market Size (US$ Bn) Analysis and Forecast, By Industry, 2024 - 2031
- 10.6.1. BFSI
- 10.6.2. IT & Telecom
- 10.6.3. Healthcare
- 10.6.4. Media & Entertainment
- 10.6.5. Retail and E-commerce
- 10.6.6. Government and Public Sector
- 10.6.7. Others
10.7. Market Attractiveness Analysis

11. Latin America Cloud Telephony Service Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Key Highlights
11.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 11.2.1. By Country
- 11.2.2. By Network Type
- 11.2.3. By Deployment
- 11.2.4. By Industry
11.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 11.3.1. Brazil
- 11.3.2. Mexico
- 11.3.3. Rest of Latin America
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Network Type, 2024 - 2031
- 11.4.1. Public Switched Telephone Network (PSTN)
- 11.4.2. Voice over Internet Protocol (VoIP)
11.5. Current Market Size (US$ Bn) Analysis and Forecast, By Deployment, 2024 - 2031
- 11.5.1. Cloud-based
- 11.5.2. On-premises
11.6. Current Market Size (US$ Bn) Analysis and Forecast, By Industry, 2024 - 2031
- 11.6.1. BFSI
- 11.6.2. IT & Telecom
- 11.6.3. Healthcare
- 11.6.4. Media & Entertainment
- 11.6.5. Retail and E-commerce
- 11.6.6. Government and Public Sector
- 11.6.7. Others
11.7. Market Attractiveness Analysis

12. Middle East & Africa Cloud Telephony Service Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

12.1. Key Highlights
12.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 12.2.1. By Country
- 12.2.2. By Network Type
- 12.2.3. By Deployment
- 12.2.4. By Industry
12.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 12.3.1. GCC Countries
- 12.3.2. Egypt
- 12.3.3. South Africa
- 12.3.4. Northern Africa
- 12.3.5. Rest of Middle East & Africa
12.4. Current Market Size (US$ Bn) Analysis and Forecast, By Network Type, 2024 - 2031
- 12.4.1. Public Switched Telephone Network (PSTN)
- 12.4.2. Voice over Internet Protocol (VoIP)
12.5. Current Market Size (US$ Bn) Analysis and Forecast, By Deployment, 2024 - 2031
- 12.5.1. Cloud-based
- 12.5.2. On-premises
12.6. Current Market Size (US$ Bn) Analysis and Forecast, By Industry, 2024 - 2031
- 12.6.1. BFSI
- 12.6.2. IT & Telecom
- 12.6.3. Healthcare
- 12.6.4. Media & Entertainment
- 12.6.5. Retail and E-commerce
- 12.6.6. Government and Public Sector
- 12.6.7. Others
12.7. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Twilio
  - 13.3.1.1. Overview
  - 13.3.1.2. Solution Portfolio
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. RingCentral
- 13.3.3. Vonage
- 13.3.4. 8x8 Inc.
- 13.3.5. Cisco Webex Calling
- 13.3.6. Microsoft Corporation
- 13.3.7. Nextiva
- 13.3.8. Grasshopper
- 13.3.9. Dialpad
- 13.3.10. Mitel
- 13.3.11. Zoom Phone
- 13.3.12. Alcatel-Lucent Enterprise

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations