Cloud telephony service Market is projected to grow up to USD 55 billion by 2027 growing at a CAGR of 16% during the forecasting period 2021-2027.

A cloud telephony service is an internet-based information and telecommunication infrastructures wherein a third-party hosts various applications, such as storage, telecommunications, and switching, and which is subsequently accessible via internet channels. The VoIP (Voice over Internet Protocol) telephone system and the Public Switched Telephone Network (PSTN) are used by these entities to conduct operations because they execute tasks in a virtual model, which eliminates the need for a direct relationship with the broadband router.
The requirement for companies across the world to decrease operating expenses while also being able to quickly expand their comprehensive healthcare as and when required are the primary drivers driving the market's expansion. During the projection period, however, the lack of knowledge, as well as the absence of adequate of alternative methods of communication, will be the most significant difficulties in the cloud telephony services market. A favourable effect has been seen on the worldwide cloud telephone service industry as a result of the COVID-19 epidemic, which has resulted in all offices being shuttered and companies relocating their activities to the internet. Cloud telephony services assist organisations and corporations in setting up appropriate communication through contact centres with little expenditure and equipment, as well as in quickly responding to consumer inquiries.
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The cloud telephony service Market report has been categorized as below
By Network Type:
Public Switched Telephone Networks (PSTNs)
Voice over Internet Protocol (VoIP)
By Deployment Mode:
On-Premise
Cloud
By Organization Size:
Large Enterprises
SMEs
By Application:
Conferencing
Multi-level IVR
Sales & Marketing
Customer Relationship Management (CRM)
By End User Industry:
BFSI
IT & Telecom
Defence
Education
Media & Entertainment
Retail
Healthcare
Based on regions:
North America
Europe
Asia Pacific
Rest of World
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