The Global Market For Cloud Telephony Services Will Reach 41,768.3 Million Dollars In 2026

According to a new report published by Transparency Market Research, the global market for cloud telephony services is expected to reach a value of 41,768.3 million dollars in 2026 due to cost reductions compared to traditional telephony systems.

It is estimated that the market will experience an annual growth rate of 17.2% up to 2026. The growing demand for business mobility, the mobile workforce and the multiple benefits offered by cloud telephony services are encouraging its greater adoption. In addition, the growing penetration of mobile devices is increasing the global demand for cloud telephony services.

Worldwide, the market for cloud telephony services is expected to grow significantly during the forecast period. In addition, this solution helps companies to have full visibility into agent performance and user experience. This has helped many companies to retain their users by achieving a high level of satisfaction.

What Are The Main Benefits Of Cloud Telephony Services?

Cloud telephony service solutions help companies to configure the communications infrastructure without requiring hardware or software costs. In cloud telephony services, all communication devices and applications are hosted in the cloud or at the service provider’s premises. Therefore, companies do not need to invest in hardware or software and have integration with CRM, quick and easy configuration of an IVR, call center and call recording. These services can be started using traditional phones, mobile devices or laptops.

The adoption of cloud telephony services in small and medium-sized enterprises (SMBs) is increasing mainly due to cost efficiency, as well as the limited capital investment needed to implement network systems compared to network services traditional. Advances in technology and the addition of multiple functions to IP phones have attracted business customers to migrate to IP networks.

In Which Regions Will The Market Expand Most Rapidly?

The report anticipates that Europe will be a rapidly expanding market region, followed by Asia Pacific. Cloud telephony services are increasingly being adopted in different verticals of the industry around the world. The increase in the implementation of IP networks, the bandwidth of the Internet and the improvement in the quality of the services offered by the telecommunications providers are contributing even more to the expansion of the market of cloud telephony services.

Asia Pacific will also be a region of high market potential for cloud telephony services. It is anticipated that increased investments in the commercial sector and ongoing developments of network infrastructure in developing countries, such as China, India and the Philippines, will favor the market for cloud telephony services in this region.

Likewise, it is expected that the market in the US, Germany and France offer lucrative opportunities due to the gradual elimination of the lines of the Integrated Services Digital Network (ISDN) by the telecommunications operators in these countries.