Communications Platform as a Service (CPaaS) Market Research 2022: Trends, Scope, Size, Report 2027

Communications Platform-as-a-Service (CPaaS) Market Size

Communications platform-as-a-service (CPaaS) represent cloud-based services that allow developers to add real-time communication capabilities, including voice, video, and messaging, to their business processes by deploying application program interfaces (APIs). They can be embedded into sales software to add features such as click-to-call, notifications, and multifactor authentication (MFA). CPaaS solutions help organizations enrich customer communication channels, manage appointments, automate reminders, and promote in-app calling and broadcast. They even offer improved scalability, multi-tenancy, enhanced outreach, reduced overall costs, etc. As a result, CPaaS components find extensive utilization across several sectors, including healthcare, hospitality, education, logistics, banking, retail, information technology (IT), telecommunication, etc.

Report Metric

Historical: 2016-2021

Base Year: 2021

Forecast Year: 2022-2027

According to the global tracking as a services market report by IMARC, the market reached a value of US$ 6.16 Billion in 2021. Looking forward, the market to reach US$ 30.76 Billion by 2027, exhibiting at a CAGR of 28.50% during 2022-2027.

Global Communications Platform-as-a-Service (CPaaS) Industry Trends and Drivers:

The growing usage of virtual chatbots and voice assistants to increase productivity and efficiency is primarily driving the Communications Platform-as-a-Service (CPaaS) Market. In addition to this, the escalating adoption of the solution in the retail and e-commerce segment to enable retailers to integrate audio, video, and SMS communication to their mobile applications, website, and social media channels for enhancing customer engagement and providing personalized recommendations is also positively influencing the global market.

Furthermore, the elevating integration of artificial intelligence (AI) and machine learning (ML) for automation, speech recognition, agent augmentation, emotion analysis, call analytics, etc., is acting as another significant growth-inducing factor. Besides this, the shifting preferences toward digital communication in the education industry to assist online educators with screen sharing, video calling, and call recording are further catalyzing the market growth. Moreover, the expanding demand for cost-effective cloud-based solutions in the healthcare industry to manage appointments, consultations, and telehealth is expected to bolster the Communications Platform-as-a-Service (CPaaS) Market in the coming years.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Communications Platform-as-a-Service (CPaaS) Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • 8×8 Inc.
  • Avaya Inc.
  • Bandwidth Inc.
  • Infobip
  • Intelepeer Cloud Communications LLC
  • Mavenir Systems Inc. (Mavenir plc)
  • MessageBird B.V.
  • Plivo Inc.
  • Ringcentral Inc.
  • Telnyx LLC
  • Twilio Inc.
  • Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson)
  • Voxvalley Technologies Pvt. Ltd.

The report has segmented the market on the basis of region, component, type, asset type, enterprise size and end use industry.

Breakup by Component:

  • Software
  • Services

Breakup by Enterprise Size:

  • Small and Medium-Size Enterprises
  • Large Enterprises

Breakup by Industry:

  • BFSI
  • Government
  • IT and Telecom
  • Healthcare and Life Sciences
  • Retail
  • Education
  • Others

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

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Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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