Cloud Telephony Services Market Expected to Reach US$ 41,760 Mn by 2026
According to a new market report published by Transparency Market Research the global cloud telephony services market is expected to reach a value of US$ 41,768.3 Mn by 2026 on account of cost reductions compared to traditional telephony systems. The market is projected to expand at a CAGR of 17.2% during the forecast period from 2018 to 2026. Increasing demand for enterprise mobility, mobile workforce, and multiple benefits offered by cloud telephony services are encouraging their higher adoption. In addition, rising penetration of mobile devices is boosting the global demand for cloud telephony services. Europe is anticipated to be a rapidly expanding region of the market, followed by Asia Pacific during the forecast period. Cloud telephony services are being increasingly adopted across different industry verticals around the globe. Increase in the implementation of IP networks, Internet bandwidths, and improvement in the quality of services offered by telecom...