By Shubham Patidar, Research Consultant at Fact.MR
In today’s technology driven world, the workforce is spread out between those working remotely and those working in offices, with some planning on returning to their office full-time and others remaining on a hybrid or remote model for the foreseeable future. While several companies worldwide have remained invested in the on-premises calling system, the reality is that, today, the shortest way to communicate is often through a stable internet connection.
Companies are thus investing huge sums in the development of a unified communications system with a cloud calling feature. Adapting their communication systems to this new technology can potentially improve or even future-proof the line of communication in and outside of an organization.
Cloud calling, often referred to as cloud telephony, helps in making a company’s overall phone system cost less. It provides voice communication services primarily through a third-party host. It is gradually replacing the need for traditional enterprise telephone systems, including private branch exchange across the globe.
Cloud telephony services further frees organizations from the burden of purchasing and storing stand-alone hardware such as handsets and private branch exchange boxes. It also sets the stage for equipping complementary unified communications as a service (UCaaS) features such as artificial intelligence (AI)-enabled customer support, keyword and voice analysis, interactive voice response (IVR), and call center capabilities.
Organizations nowadays are utilizing cloud telephony services to better connect their teams and make their employees more satisfied, engaged, and focused in their roles. The term ‘cloud telephony’ signifies a multi-tenant access model, with subscribers paying to utilize a provider’s pool of shared and commoditized resources.
As per Fact.MR, a leading market research firm, the global cloud telephony services industry is projected to reach a valuation of US$ 51.5 Billion by the end of 2032 and exhibit growth at a CAGR of 9.5% from 2022 to 2032. Surging need to reduce phone bills and the overall teleconferencing cost in an organization is expected to…