Asia Pacific Cloud Communication Platform Market
No. of Pages: 172 | Report Code: TIPRE00025837 | Category: Technology, Media and Telecommunications
No. of Pages: 172 | Report Code: TIPRE00025837 | Category: Technology, Media and Telecommunications
The cloud communication platform market in APAC is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. The increasing number of internet users is one of the factors driving the market growth. China had the highest number of internet users, i.e., 850 million, followed by India with 560 million internet users, and Japan with 118.63 million internet users in the second quarter of 2021. Further, in 2020, South Korea had around 47 million internet users. This figure is projected to grow to ~48.13 million internet users by 2026. Similarly, there were 22.31 million internet users in January 2021 in Australia. Australia’s number of internet users increased by 265 thousand (+1.2%) from 2019 to 2021.
The growing urbanization, industrialization, and the presence of huge number of large and small & medium enterprises in APAC makes it a promising market for the growth of the cloud communication platform market. Moreover, APAC is a global industrial hub with the presence of key industries such as IT & telecom, BFSI, healthcare, consumer electronics, semiconductor, and automotive in countries such as China, India, Japan, and South Korea. For instance, China is the global manufacturing hub for various industries and fortune 500 companies. The lockdown of various plants and factories in China had restricted the global supply chains and negatively impacted manufacturing activities, delivery schedules, and various products and services sales. In addition, the uncertainty regarding the future outbreak especially in Asian countries such as India, where the graph is going upwards, may affect the growth of various industries especially IT & telecom, which is prominent in these countries. To mitigate the negative impact and continue operations, companies need to invest in remote working solutions and home office adoption policies. The huge presence of companies in this region is anticipated to provide huge growth opportunities for players operating in the cloud communication platform market in the coming quarters.
Strategic insights for the Asia Pacific Cloud Communication Platform provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,102.60 Million |
| Market Size by 2028 | US$ 6,394.55 Million |
| Global CAGR (2021 - 2028) | 28.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Cloud Communication Platform refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The cloud communication platform market in APAC is expected to grow from US$ 1,102.60 million in 2021 to US$ 6,394.55 million by 2028; it is estimated to grow at a CAGR of 28.5% from 2021 to 2028. The business process outsourcing (BPO) sector is known to be fastest-growing stream of the Information Technology Enabled Services (ITES) industry. The growth of this sector is mainly attributed to economies of scale, business risk mitigation, cost advantage, utilization enhancement, and superior competency. The outsourced services are better delivered with the use of cloud. Adopting cloud communication platforms assist saves costs for BPOs, while enhancing the quality and timeliness of the data. The increasing need for higher flexibility/scalability among business organizations has raised the adoption rate of cloud communication platform solutions and services, which acts as a huge opportunity for the platform vendors. There are several APAC players of BPO sector which will directly offer new opportunities for the market.
APAC cloud communication platform market is segmented into component, enterprise size, industry, and country. Based on component, the APAC cloud communication platform market is segmented into solution and services. In 2020, the solution segment accounted for largest share in the market. On the basis of enterprise size type, the APAC cloud communication platform market is segmented into large enterprises and SMEs segments. Large enterprises segment accounted for the largest market share. Based on industry, the APAC cloud communication platform market is segmented into BFSI, IT & Telecom, Healthcare, Retail, Government, Education, and Others. In 2020, the BFSI segment accounted for the largest market share. Based on country, the APAC cloud communication platform market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.
A few major primary and secondary sources referred to for preparing this report on the cloud communication platform market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are8x8, Inc; Avaya Inc.; Cisco Systems, Inc.; Intrado Corporation; NetFortis; Plivo Inc.; Telestax, Inc.; Twilio Inc; and Vonage Holdings Corp.
The Asia Pacific Cloud Communication Platform Market is valued at US$ 1,102.60 Million in 2021, it is projected to reach US$ 6,394.55 Million by 2028.
As per our report Asia Pacific Cloud Communication Platform Market, the market size is valued at US$ 1,102.60 Million in 2021, projecting it to reach US$ 6,394.55 Million by 2028. This translates to a CAGR of approximately 28.5% during the forecast period.
The Asia Pacific Cloud Communication Platform Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Cloud Communication Platform Market report:
The Asia Pacific Cloud Communication Platform Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Cloud Communication Platform Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Cloud Communication Platform Market value chain can benefit from the information contained in a comprehensive market report.
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