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Lucintel Forecasts the Global Cloud Telephony Service Market to Reach $39.64 by 2030

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Roy Almaguer

According to a market report by Lucintel, the future of the global cloud telephony service market looks promising with opportunities in the BFSI, government, telecom & IT, healthcare, media & entertainment, and retail markets. The global cloud telephony service market is expected to reach an estimated $39.6 billion by 2030 with a CAGR of 9.5% from 2024 to 2030. The major drivers for this market are transformation of telecom companies from conventional to IP networks, rising adoption of remote working policies, and growing demand of cloud services across the globe.

A more than 150 – page report is developed to understand Trends, opportunity and forecast in cloud telephony service market to 2030 by deployment model (cloud and hosted), network (public switched telephone network and voice over internet protocol), end use (BFSI, government, telecom & IT, healthcare, media & entertainment, retail, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

In this market, public switched telephone networks and voice over internet protocol are the major segments of cloud telephony service market by network. Lucintel forecasts that voice over internet protocol will remain the larger segment over the forecast period because it offers a number of benefits, including affordable network services and an intuitive interface that promotes improved communication.

Within this market, BFSI will remain the largest segment over the forecast period because it provides prompt client services, facilitates communication, and ensure secure transactions, as well as, ensures data confidentiality and privacy while facilitating call recording and regulatory compliance adherence.

North America is expected to witness highest growth over the forecast period due to growing use of hosted cloud phone services for voice-over-internet protocol (VoIP) calls, online meetings, video conferencing, and other business-related tasks by both consumers and businesses in this region.

 

Dialpad, 8X8, Go 2 Market, Broadsoft, Knowlarity Communications, Avoxi, Exotel Techcom, Microsoft, Leadnxt, and Cisco Systems are the major suppliers in the cloud telephony service market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:

Roy Almaguer

Lucintel

Dallas, Texas, USA

Email: [email protected]

Tel. 972.636.5056

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