Airtel forays into USD 1 billion Indian cloud communications market; launches Airtel IQ

India's largest integrated telecommunications company, Bharti Airtel marked its entry into the fast-growing cloud communications market with the launch of Airtel IQ on Monday.

Airtel IQ is a cloud-based omnichannel communications platform, which enables the brands to deepen engagement with customers through timely and secure communication. The entire communication is encrypted and is orchestrated seamlessly & securely over Airtel IQ. The platform eliminates the need for multiple communication platforms for different channels.

Many of India's biggest companies such as Swiggy, Justdial, Urban Company, Havells, Dr Lal Path Labs, and Rapido have signed up as customers for Airtel IQ during the beta phase, the company revealed in a press release to BSE.

Indian cloud communications market is estimated to be worth US$ 1 billion and expected to grow at close to 20 per cent annually. Airtel is India's largest player in the B2B connectivity space and serves over one million businesses with an integrated portfolio that includes connectivity, cloud, security and collaboration, and data centre solutions. The company is thus uniquely positioned to capture this large emerging opportunity and be a leading player in this segment.

On Monday, the stock of Bharti Airtel closed at Rs 434.05 per share, down by 0.07 per cent or Rs 0.30 per share on BSE as against a 1.33 decline in the benchmark index. The 52-week high is recorded at Rs 611.70 and its 52-week low is Rs 350.50 on BSE.