The market for Cloud Communications is booming and all kinds of businesses are benefiting.
According to ResearchandMarkets, the Cloud communications platform market is expected to grow with a Compound Annual Growth Rate (CAGR) of 29.5% from 2014 to 2019. ResearchandMarkets estimates the global Cloud Communications platform market was worth $887.5 million in 2014 and expects it to reach to over $3.2 billion in the year 2019.
There are a lot of drivers for this growth, but one that often isn’t mentioned is the size of the addressable market. The opportunity for Interconnects, Managed Service Providers (MSPs), and Carriers to serve businesses with Cloud Communications is enormous.
In its Cloud Communication Platform Market by Solution and Service - Global Forecast to 2019, ResearchandMarkets notes: “Organizations worldwide are increasingly adopting cloud communication platform solutions, and it is not only concentrated to one or few industry sectors; rather it is fairly distributed across all the major industry verticals.”
This is great news for service providers as they have the opportunity to reach almost any business in any vertical. Obviously, call center operators and other communications-based business will see massive efficiencies when adopting Cloud Communications but it isn’t limited to just these businesses.
The reason for this is simple. Cloud Communications reduces CAPEX and moves communications services to an OPEX-based model while freeing the business to grow and change without being “locked-in” with premises-based equipment. All businesses can benefit from this increased agility no matter the vertical sector.
People need to communicate and are still making calls while adding video, WebRTC, messaging, and collaboration tools to services they use on a daily basis. What Cloud Communications does is make it easy to adopt and manage these increasingly complex services.
Channel partners are having success in delivering Cloud Communications not just across verticals or even regions in the US, but in targeting unique business categories like SMBs. The benefits of Cloud Communications line-up really well with the needs of SMBs, where CAPEX is hard to come by and the flexibility to change and grow is really appreciated.
Interconnects, MSPs and Carriers looking to enter the Cloud Communications market should look at the potential customer-base and growth they can realize by offering new Cloud-based services. Cloud Communications matches the needs of nearly every business and offer service providers an opportunity to capture new revenue.