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Communications platforms as a service market to reach $29B by 2025

January 31, 2023

Communications platforms as a service market to reach $29B by 2025
The communications platform-as-a-service (CPaaS) market will reach $29 billion globally by 2025, rising from $16 billion in 2022, with growth driven by the SME sector, said a new global study by the digital technology market research firm Juniper Research on Monday.

To capitalise on this substantial growth of 80 per cent over the next three years, CPaaS vendors will have to focus on the development of managed services (outsourcing services) over their platforms to enable the creation and management of rich media content over channels such as OTT business messaging, email and social media, the study noted.

CPaaS is actually a cloud solution for developers to add communication, customer service, and automation features to business applications or softwares such as video conferencing, SMS/MMS, interactive voice response (IVR), social media channels like WhatsApp or Facebook Messenger, etc. A chat box on a website answering customer queries is another known CPaaS example.

“As markets become increasingly saturated with CPaaS service provision, CPaaS vendors must expand deeper into the SME sector,” the research said focusing on North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East.

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