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Communication platform as a service CPaaS market size, share, trends

Confianza Market Research Report

Description

CPaaS Market Overview

The communication platform as a service (CPaaS) market report published by Confianza Research provides detailed information related to the global and regional market size, share & trends analysis. The report also incorporates detailed competitor analysis and comprehensive company profiles of key CPaaS market leaders. As per the research the global CPaaS Market was valued at USD XX Billion in 2020 and it is anticipated to reach USD XX Billion by 2027, growing at a CAGR of XX% over the forecast period. Growing demand for contextual communication platform from the enterprises for improving customer service is driving the market growth.

CPaaS is a cloud-based platform that enable application developers to integrate voice, video & messaging features into their application or website without need to deploy any back-end infrastructure. The CPaaS generally includes following ready made application, sample code, Software Development Kits (SDKs), software tools, Application Programming Interfaces (API). These solutions enable customer support team to provide customer services in real-time using voice, messaging or through video calls. The customers contextual information enables the support agent to provide customized solution to each customer based on their particular requirements.

 

CPaaS Key Market Leaders & Share Analysis

The CPaaS market can be diversified into software vendors, system integrator, service provider and equipment providers. Software vendors accounts for highest market share among different players followed by service providers and system integrator. Software based solution provider such as Twilio, Nexmo, Plivo are among the top CPaaS vendors. Where as companies such as Alcatel Lucent Enterprise (ALE), IntelePeer, Plum Voice and Ytel are key CPaaS enterprise solution providers.

 

Communication Platform As a Service CPaaS Market Trends 2020
Communication Platform As a Service CPaaS Market Trends 2020

 

Many CPaaS vendors tend to offer support services to developers throughout development process. Most of the companies operating in this market tend to compete on the basis of pricing model, they offer pricing flexibility to customers by allowing to pay as you go model wherein customer will pay only for services that they avail. Such pricing model is specifically attracting start-ups and small businesses to opt for different CPaaS services while saving large portion of the operational expenses spent on customer support tech.

Key CPaaS market growth trends

  • Artificial Intelligence:

Artificial intelligence is expected to play crucial role in the CPaaS market growth. AI helps in offering unified customer experience through data unification, AI enables chat-bots & automation. AI also provides the enterprises with crucial analytics & real-time insights that can be used to offer better user-centric solutions.

  • Integrated Communication Services

Brands are aiming to deploy unified communication solutions that offer consolidated experience across multiple channels. CPaaS solution are anticipated to emerge as a multi-solution platform for customer care as well as team collaboration.

  • Growing importance of Chatbots

Chatbots offer communication flexibility to customers as well as companies. AI based chatbots are widely deployed by many industries such as BFSI for automated chatting with customers for general queries. There are several options available such as video chat, voice call, multimedia sharing and messaging.

 

Market Segmentation

Communication as a Platform Market, by Type (2017-2027)

  • Standard
  • Customized

Communication as a Platform Market, by End-User (2017-2027)

  • SME
  • Large Organization

Communication as a Platform Market, by End-User (2017-2027)

  • North America (U.S., Canada)
  • Europe (UK, Germany, France)
  • Asia Pacific (China, India, Japan, South Korea)
  • Latin America (Brazil, Mexico)
  • Middle-East & Africa
  • Purchase Options
Enterprise
$6,490.00 $5,490.00
Multi User
$5,950.00 $4,950.00
Single User
$4,490.00 $3,950.00
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  • Report Information
  • Industry Report
  • Historic Data: 2015-2018
  • Base Year For Estimation: 2019
  • Forecast Period: 2020-2030
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