Industry Background:
CPaaS stands for the Communications Platform as a Service. A CPaaS is a cloud-based platform that enables developers to add real-time communications features to their own applications without needing to build backend infrastructure and interfaces. A CPaaS offers a complete development framework for building real-time communications features without having to build your own. This typically includes software tools, standards-based application programming interfaces (APIs), sample code, and pre-built applications. CPaaS providers also provide support and product documentation to help developers throughout the development process. Some companies also offer software development kits (SDKs) and libraries for building applications on different desktop and mobile platforms.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Twilio Inc. (United States), Vonage Holdings Corp (United States), MessageBird B.V. (United States), Plivo Inc. (United States), Snich AB (Sweden), Voximplant (Zingaya, Inc.) (United States), 8x8 Inc (United States), Voxvalley Technologies (Singapore), Bandwidth Inc. (United States) and IntelePeer Cloud Communications (United States) |
According to AMA, the market for Communications Platform as a Service (CPaaS) is expected to register a CAGR of 46.5% during the forecast period to 2030. This growth is primarily driven by The Rising demand due to rapidly changing consumer purchasing trends and The increasing connectivity and increasing mobile devices for communications and online transactions.
Globally, a noticeable market trend is evident Upsurging demand from Retail and E-commerce Industry
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Twilio Inc. (United States), Vonage Holdings Corp (United States), MessageBird B.V. (United States), Plivo Inc. (United States), Snich AB (Sweden), Voximplant (Zingaya, Inc.) (United States), 8x8 Inc (United States), Voxvalley Technologies (Singapore), Bandwidth Inc. (United States) and IntelePeer Cloud Communications (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 9th June 2020, 8X8 Inc. launched an open communication platform to deliver and scale work-from-home enterprise communications with the availability of CPaaS programmable applications and APIs, including SMS and 8x8 video.
On 13th MAy 2020, Twilio, a prominent cloud communications platform provider, announced that Twilio programmable video would be powering Zocdoc's new free, HIPAA-compliant telehealth video solution. Any provider can sign up to use Zocdoc's video service, powered by Twilio, to facilitate all of their virtual appointments.
Influencing Trend:
Upsurging demand from Retail and E-commerce Industry and High Adoption due to real-time communications
Market Growth Drivers:
The Rising demand due to rapidly changing consumer purchasing trends and The increasing connectivity and increasing mobile devices for communications and online transactions
Restraints:
The concern related to safety and privacy
Opportunities:
The rising demand due to COVID 19 Pandemic and work from home situation and The technological innovation associated with Communications Platform as a Service (CPaaS)
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Communications Platform as a Service (CPaaS) Market
- Analysis about New Entrants in Communications Platform as a Service (CPaaS) Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Communications Platform as a Service (CPaaS) Study Sheds Light on
The Communications Platform as a Service (CPaaS) Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Communications Platform as a Service (CPaaS) industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Communications Platform as a Service (CPaaS) industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.