The global market for cloud telephony is growing at a commendable rate due to the shift from traditional modes of voice and data transfer to IP services. To offer a succinct view of the market, Research Moz added a report titled ‘Cloud Telephony Service Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026’. Telephony services replace traditional phone lines with internet Voice over Internet Protocol (VoIP) for transference of voice data over long distances. A strikingly useful feature of cloud telephony services is that they operate virtually and are not required to be connected to a phone company.
In recent times, the entire world is moving towards a nimble and hassle-free network of communications wherein there is little scope left for laying phone lines across large distances. Hence, it is imperative for global enterprises, government agencies, and other entities to sync their systems with the domain of cloud telephony. It is expected that the global market for cloud telephony would attract tremendous demand from several industrial and commercial longitudes over the course of the next few years. The report by Rmoz projects a growth patterns for the global market by analyzing the customer propensities and trends in the telecommunications sector.
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The telecom companies have set out on a quest to reduce their operational costs and make their processes swifter. This has been a key reason behind the growth of the global market for cloud telephony over the past years. Cloud telephony services ensure that the control capabilities of the administrator are enhanced, which also adds to their popularity. Furthermore, the return on investment (ROI) also goes higher once companies induct telephony services within their framework. The high cost of installing multitudes of telephone lines or internet services is also reduced once telephony services are adopted within the framework. The companies have the option of storing localized phone numbers at their disposal despite being at remote locations. This is also expected to propel demand within the global market for cloud telephony services.
The global market for cloud telephony is led by North America amongst all other regional segments. The high adoption rate of advanced technologies across the US and Canada has been the key reason behind the growth of the regional market. The markets in Europe and Asia Pacific is also expected to attract commendable demand due to the presence of a large number of telecom companies.
Knowlarity Communications Pvt Ltd., LeadNXT, Cisco Systems, Inc., BroadSoft, 8×8, Inc., Exotel Techcom Pvt. Ltd., Go 2 Market India Pvt. Ltd., Microsoft Corporation, AVOXI, and Megapath are amongst the key market players in the global telephony market. These market players expected to introduce a wide array of strategies in order to establish their supremacy in the global market.