Communications Platform as a Service (CPaaS) Market Size, Analysis, Growth, Share, Report, Trends, Demand 2022-2027

IMARC Group has recently released a new research study titled, "Communications Platform-as-a-Service (CPaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the communications platform-as-a-service (CPaaS) market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

Market Overview:

The global communications platform-as-a-service (CPaaS) market reached a value of US$ 6.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 30.76 Billion by 2027 exhibiting a CAGR of 28.50% during 2022-2027.

Year Considered to Estimate the Market:

Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027

Communications Platform-as-a-Service (CPaaS) Market Market Overview:

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.

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Communications Platform-as-a-Service (CPaaS) Market Trends:

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.

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

The report has segmented the market on the basis of component, enterprise size and 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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Competitive Landscape With Key Players:

The competitive landscape of the communications platform-as-a-service (CPaaS) market has been studied in the report with the detailed profiles of the key players operating in the market.

List of Key Companies Covered in this Market Report:

• Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson)
• Telnyx LLC
• Avaya Inc.
• Twilio Inc.
• Intelepeer Cloud Communications LLC
• Bandwidth Inc.
• 8x8 Inc.
• Plivo Inc.
• MessageBird B.V.
• Mavenir Systems Inc. (Mavenir plc)
• Infobip
• Ringcentral Inc.
• Voxvalley Technologies Pvt. Ltd.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Key Highlights of the Report:

• Market Outlook (2022-2027)
• Impact of COVID-19
• Market Drivers and Success Factors
• Market Performance (2016-2021)
• Porter's Five Forces Analysis
• Comprehensive Mapping of the Competitive Landscape
• Value Chain
• SWOT Analysis

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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