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Cloud Telephony Services Market: Opportunities in Real-Time Condition Monitoring to Assist in Taking Prompt ActionsAccording to a new market report published by Transparency Market Research the global cloud telephony services market is expected to reach a value of US$ 41,768.3 Mn by 2026 on account of cost reductions compared to traditional telephony systems. The market is projected to expand at a CAGR of 17.2% during the forecast period from 2018 to 2026. Increasing demand for enterprise mobility, mobile workforce, and multiple benefits offered by cloud telephony services are encouraging their higher adoption. In addition, rising penetration of mobile devices is boosting the global demand for cloud telephony services. Multiple Telecommunication Operators are Migrating Their Customers over the IP Network, which is Likely to Drive the Demand for Cloud Telephony Services in Coming Years Adoption of cloud telephony services in small and medium-sized enterprises (SMEs) is increasing mainly due to cost efficiency as well as limited capital investment required for deploying network systems as compared to traditional network services. The advancements in technology and addition of multiple features to IP phones have attracted business customers to migrate to IP networks. For More Industry Insight, Download Brochure@https://www.transparencymarketresearch.com/sample/sample. php?flag=B&rep_id=38000 Rapid expansion of the BPO industry and fast growth in network services developments such as VoIP services and IP network have largely contributed to the penetration of cloud telephony services across different regions. Cloud telephony has been evolving as a cost-effective solution to offer an effective communication network. The health care, retail, and education segments are anticipated to offer lucrative expansion opportunities in cloud telephony services market. In terms of adoption of cloud telephony services, the health care sector is projected to expand at a CAGR of approximately 19% during the forecast period from 2018 to 2026. Demand for cloud telephony services in Europe is likely to increase as leading telecom players migrate their customers to IP networks. The market in the U.K., Germany, and France is expected to offer lucrative opportunities due to the phasing out of Integrated Services Digital Network (ISDN) lines by telecom operators in these countries. Asia Pacific is anticipated to be a high potential region of te market for the cloud telephony services during the forecast period. Rise in investments in the commercial sector and on-going network infrastructure developments in the developing countries such as China, India, and Philippines are anticipated to favor the cloud telephony services market in Asia Pacific during the forecast period. High concentration of IT and telecom companies and network developments in the U.S. are aiding the adoption of cloud telephony services. Moreover, the rise in number of contact centers across North America is expected to contribute to the cloud telephony services market. Integration with web real-time communication (WebRTC) and session initiation protocol (SIP) to support bring your own device (BYOD) are the key trends influencing the market expansion in the region. As a community-building service, TMCnet allows user submitted content which is not always proofed by TMCnet editors. If you feel this entry is of inferior quality or wish to report it for some reason, please forward the URL to "webedit [AT] tmcnet [DOT] com" with your comments. |