BENGALURU : The cloud communication market worldwide is projected to grow over three-fold from $1.36 billion in 2016 to $4.45 billion in 2021, according to Statista. “The ways in which cloud communication can be used by new-age companies continue to evolve as these businesses evolve," says Karthik Reddy, managing partner of Blume Ventures, an early investor in cloud communication startup Exotel. CHANGING LANDSCAPEThe communication technology landscape is also changing rapidly, from contact centres on the cloud to automated communication with bots. The rollout of 5G networks around the world—with India planning an auction of 5G airwaves by January—will create a whole new universe of use cases for cloud communication. The moral of the story is that only the nimble among startups and investors, who aren’t fixated on seemingly tried and tested business models, will thrive as cloud communication gathers itself for its next big leap.

Source: Mint September 29, 2019 17:48 UTC