Global Missed Call Services Market is Expected to Exhibit a CAGR of 7.4% During the Forecast Period (2019-2027) - CMI
SEATTLE, March 2, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global missed call services market is projected to exhibit a CAGR of 7.4% over the forecast period (2019 – 2027).
Key Trends and Analysis of the Missed Call Services Market:
Growth of the missed call services market is attributed to rising number of mobile phone users across the globe which has created a wide consumer base for missed call services. Moreover, the media and entertainment industry has also been adopting missed call services. Through a single missed call viewers of reality shows on TV can send their votes. Viewers can give a missed call on the number associated with their favorite couple to vote for them and this is boosting demand for missed call services in the entertainment industry.
Among deployment type, the cloud-based segment is expected to witness the highest growth over the forecast period. Cloud-based deployment is increasingly being adopted due to it providing high security of the stored data, cost-effectiveness of cloud-based deployed model compared to on-premise deployment, and offers enhanced control over stored documents. This is expected to aid in growth of the segment.
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Among end user, the banking segment held the dominant position in the missed call services market in 2018 and is expected to retain its dominance over the forecast period owing to increasing adoption of missed call services by banking and financial institutions to reduce theft and fraud by authenticating users' through registered mobile numbers. Additionally, banks and financial institutions are providing access to bank details such as balance inquiry and accessing bank statements. In addition to this, banks are also adopting missed call services for providing information about various schemes such as tax saving schemes, investment schemes, or loans to customers through one missed call from the registered mobile number.
In 2017, North America held the dominant position in the missed call services market and it is expected to retain its dominance over the forecast period due to rising adoption of Missed Call Services by major economies in the region. Moreover, increasing number of small and medium organization due to implementation of favorable rules and regulation by the government, across the region is expected to boost the adoption of missed call services in the region. Moreover, the growing IT & Telecom industry in the U.S and Canada is also boosting demand for missed call services in the region. For instance, according to the US Telecom, IP traffic in the U.S. is expected to increase 2.5 times between 2017 and 2021, which is expected to be the lucrative opportunity for missed call services providers in the region.
Key Market Takeaways:
- The missed call services market is expected to register a CAGR of 7.4% during the forecast period (2019–2027), owing to increasing adoption of missed call services by e-commerce, cab aggregator, and media & entertainment sectors, etc.
- Based on enterprise size, the SME's segment is expected to witness the highest growth over the forecast period, owing to rising adoption of missed call services by small and medium organizations for lead generation, collecting feedbacks, and conducting surveys. Furthermore, missed call services are a cost effective way for lead generation and communicating with customers in comparison with other mediums.
Some of the major players operating in the global missed call services market include –
CloudShope Technologies Pvt. Ltd., C-Zentrix, Exotel Techcom Pvt. Ltd, Hakimi Solutions, Knowlarity Communications Pvt. Ltd., LeadNXT, OneRing.in, OZONETEL, Sarv, SparkTG, WebXion Technologies LLP, ZNI Wireless Pvt Ltd, and others.
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Detailed Segmentation:
- Global Missed call services Market, By Component:
- Software
- Services
- Global Missed call services Market, By Deployment Type:
- On-premise
- Cloud-based
- Global Missed call services Market, By Enterprise Size:
- SMEs
- Large Enterprises
- Global Missed call services Market, By Function:
- Lead Generation
- Survey and Feedbacks
- New User Activations
- Run Contests & Content on Demand
- Global Missed call services Market, By End User:
- Advertising & Event Management
- Banking Industry
- E-commerce
- IT & Telecom
- Cab Aggregator
- Media & Entertainment
- Retail
- Others
- Global Missed call services Market, By Region:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Company Profiles
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SECURITY-AS-A-SERVICE MARKET
Growing adoption of cloud computing is expected to drive growth of the global security-as-a-service market over the forecast period. As Adoption of cloud computing for various applications such as email services, data backups, and ERP, CRM and collaboration services has increased significantly in the recent past. This, in turn, has increased implementation of SaaS in various enterprises.
Get more details @ https://www.coherentmarketinsights.com/market-insight/security-as-a-service-market-3468
MOBILE APPLICATION MARKET
The adoption of the mobile application is majorly getting increased due to the rising number of mobile phone users and the increasing customer base for the e-commerce industry. For instance, according to United Nations Industrial Development Organization, the E-commerce sector in India is projected to reach USD100 billion by 2020 and USD300 billion by 2030 and is already changing the way MSMEs operate in India.
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