The expanding trend of bring-your-own-device (BYOD), which emphasises giving flexible work options, is having a positive impact on the market. With their improved offerings compared to typical alternatives, these platforms are demonstrating a rapid enactment. Furthermore, as developers address some of the significant security and privacy vulnerabilities currently connected with such platforms, they may gain in popularity. The Japan Cloud Communication Platform Market study offers a comprehensive analysis of the industry. The research includes a detailed analysis of the market's major segments, trends, drivers, restraints, competitive landscape, and other important variables.
Various telecommunication applications including telephone switching can be hosted on Cloud Communication. Cloud communication platforms offer a cloud-based platform for cutting-edge communication features such as video calling, texting, and voice Internet convention (VoIP). Traditional communication systems are expensive due to the equipment required, and they are less adaptable to modern communication methods such as video conferencing and VoIP administrations. Cloud communication platforms have an advantage over them since they are more cost-effective and flexible to growing communication features, as they do not require investing in the full setup replete with various equipment.
Cloud communication solutions outperform traditional communication frameworks in terms of value and flexibility. The platforms include new innovations into a single application, obviating the need to coordinate distinct vendors' administrations. Communication has progressed in recent years from standalone voice communications to video calls and VoIP. Web real-time communication is facilitated by cloud communication, which enables audio and video chatting as well as file sharing among browsers without the use of external plugins. These are mostly utilised in BFSI, healthcare, telecommunications and information technology, government, retail, and other industries.
This research report categorizes the market for Japan cloud communication platform based on various segments and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the cloud communication platform market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the cloud communication platform market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub segments of the cloud communication platform market.
FIGURE 1: JAPAN CLOUD COMMUNICATION PLATFORM MARKET – MARKET SNAPSHOT
Cloud Communication Platform market in Japan accounted for a market value of USD 509.1 Million in 2020 and is projected to grow at a CAGR of 24.6% during the forecast period. Traditional communication methods' value and rigidity are overcome by cloud communication platforms. The platforms combine developing technologies into a single application, saving the time and effort required to integrate multiple services from several providers. This frequently boosts market growth. Furthermore, in recent years, communication has progressed from isolated audio calls to video calls and VoIP. Cloud communication platforms can effectively manage these advanced communications.
Based on Component, Japan Cloud Communication Platform market is segmented into Solutions, and Services. Among these, Solutions accounted for the largest market share in 2020 and is projected to grow at a CAGR of 22.7% during the forecast period. Services was the second-largest market in 2020. Based on Organization Size, Japan Cloud Communication Platform market is segmented into small- and medium-sized enterprises, and large enterprises. Large Enterprises accounted for the largest market share in 2020 and is projected to grow at a CAGR of 22.9% during the forecast period. Based on vertical, Japan cloud communication platform market is segmented into banking financial services and insurance, healthcare, IT & Telecommunication, government, retail, travel and hospitality, education, manufacturing, and others. IT & Telecommunication vertical accounted for the largest market share in 2020 and is projected to grow at a CAGR of 24.1% during the forecast period.
Cisco System, Inc., 8x8, Inc., Avaya, Inc., Twilio, Inc., Netfortris, Inc., West IP Communications Inc., Telestax, Inc., Plivo, Inc., Callfire, Nexmo Inc., IBM Corporation, Alcatel-Lucent, Mitel Networks Corporation, Genesys Telecommunications Laboratories, Inc., Intelepeer are some of the prominent market players in the Japan cloud communication platform market. These companies are adopting various growth strategies such as new product launch, expansion, agreement, mergers & acquisitions in the market to retain a competitive market position in the Japan cloud communication platform market from 2018 to 2020 till date. Among the growth strategies, new product launch capture more than half of the growth strategies followed by expansion.
Some of the key developments include:
- In November 2021, IBM announced the acquisition of SXiQ, an Australian digital transformation services company specialising in cloud applications, cloud platforms, and cloud cybersecurity. IBM's hybrid cloud and AI strategy by assisting enterprises in modernising and transforming complex mission-critical applications across multiple clouds and platforms
- In August 2021, Avaya Holdings Corp. has acquired CTIntegrations LLC to expand the capabilities of its OneCloud product suite, which is at the heart of the company's plan to transition to a cloud-centric business model
- In March 2021, Genesys, a global leader in cloud customer experience and contact centre solutions, reported that fiscal year 2021 set a new high for its cloud business. Year over year, new bookings for Genesys Cloud increased by nearly 130 percent, while bookings for Genesys Engage cloud and subscription increased by more than 70 percent
Market Segments:
Japan Cloud Communication Platform Market, By Component
- Solutions
- Unified Communication And Collaboration
- Web Real-Time Communication (WEBRTC)
- Interactive Voice Response (IVR)
- Voice Over Internet Protocol (VOIP)
- Application Programming Interface (API)
- Services
- Training And Consulting
- Support And Maintenance
- Managed Services
Japan Cloud Communication Platform Market, By Organization Size
- Small- And Medium-Sized Enterprises
- Large Enterprises
Japan Cloud Communication Platform Market, By Vertical
- Banking, Financial Services, And Insurance
- Healthcare
- IT & Telecommunication
- Government
- Retail
- Travel And Hospitality
- Education
- Manufacturing
- Others
WHAT THIS STUDY PROVIDES
- Japan Cloud Communication Platform market and submarket forecast covering the period of 2017 to 2030, with accompanying analysis
- Extensive details and analysis of contracts, projects, and programs
- Analysis of game-changing technological trends and how these will shape the industry
- Explanation or political, regulatory and technical factors to consider
- Barriers to entry analysis for markets around the world
- Profiles of leading companies operating within the sector
- SWOT analysis of the major key players operating in the maket, together with the opportunities available and the key threats faced
- Market conclusions & recommendations
KEY QUESTIONS ANSWERED BY THIS REPORT
- How the Japan Cloud Communication Platform market is evolving?
- What is driving and restraining Japan cloud communication platform market dynamics?
- How will each cloud communication platform submarket segment grow over the forecast period and how much sales will these submarkets account for in 2028?
- How will market shares of each Cloud Communication Platform submarket develop from 2017-2028?
- Which Cloud Communication Platform submarket will be the main driver of the overall market from 2017-2028?
- How will political and regulatory factors influence Japan Cloud Communication Platform markets and submarkets?
- Will leading national Cloud Communication Platform broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
- How will market shares of the national markets change by 2030 and which nation will lead the market in 2028?
- Who are the leading players and what are their prospects over the forecast period?
- How will the sector evolve as alliances form during the period between 2017 and 2028?
THIS STUDY IS INTENDED FOR
- Associations/Manufacturers
- Technology Providers
- Government Agencies
- Distributors/Researchers
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