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Report
Communication Platform as a Service (CPaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-10-15 I 148 Pages I IMARC Group
Market Overview:
The global communication platform as a service (CPaaS) market size reached US$ 8.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.1 Billion by 2028, exhibiting a growth rate (CAGR) of 25.4% during 2023-2028.
Communication platform as a service (CPaaS) is a cloud-based service that allows developers to add real-time communication capabilities, such as voice, video, and messaging, to their applications, services, and business processes. This, in turn, helps organizations enrich customer communication channels, automate reminders, manage appointments, and promote in-app calling and broadcast. CPaaS also offers enhanced scalability, multi-tenancy, improved outreach, and reduced development time and overall costs. As a result, it finds extensive applications across the healthcare, hospitality, education, logistics, and banking, financial services, and insurance (BFSI) industries.
CPaaS Market Trends:
The widespread adoption of the solution in the retail and e-commerce sectors across the globe is creating a positive outlook for the market. CPaaS allows retailers to integrate audio, video, and SMS communication to their websites, mobile application, and social media channels to enhance customer engagement. In line with this, the rising demand for personalized recommendations that enhance the shopping and service experience across all the channels is acting as another growth-inducing factor. Furthermore, the extensive utilization of virtual, voice assistants, and chatbots to increase productivity and efficiency is providing a considerable boost to the market growth. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) for speech recognition, automation, agent augmentation, emotion analysis, and call analytics is providing an impetus to the market growth. Moreover, the increasing adoption of digital communication in the education industry to assist online educators with video calling, screen sharing, and call recording is favoring the market growth. Other factors, including the implementation of various government initiatives encouraging the adoption of advanced technologies and the increasing demand for cost-effective cloud-based solutions in the healthcare industry for managing appointments, consultations, and telehealth, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global CPaaS market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 8x8 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) and Voxvalley Technologies Pvt. Ltd.
Key Questions Answered in This Report
1. How big is the global Communication Platform as a Service (CPaaS) market?
2. What is the expected growth rate of the global Communication Platform as a Service (CPaaS) market during 2023-2028?
3. What are the key factors driving the global Communication Platform as a Service (CPaaS) market?
4. What has been the impact of COVID-19 on the global Communication Platform as a Service (CPaaS) market?
5. What is the breakup of the global Communication Platform as a Service (CPaaS) market based on the component?
6. What is the breakup of the global Communication Platform as a Service (CPaaS) market based on the enterprise size?
7. What are the key regions in the global Communication Platform as a Service (CPaaS) market?
8. Who are the key players/companies in the global Communication Platform as a Service (CPaaS) market?
1 Preface
2 Scope and Methodology
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 Executive Summary
4 Introduction
4.1Overview
4.2Key Industry Trends
5 Global Communications Platform-as-a-Service (CPaaS) Market
5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast
6 Market Breakup by Component
6.1Software
6.1.1 Market Trends
6.1.2 Market Forecast
6.2Services
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Enterprise Size
7.1Small and Medium-Size Enterprises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2Large Enterprises
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Industry
8.1BFSI
8.1.1 Market Trends
8.1.2 Market Forecast
8.2Government
8.2.1 Market Trends
8.2.2 Market Forecast
8.3IT and Telecom
8.3.1 Market Trends
8.3.2 Market Forecast
8.4Healthcare and Life Sciences
8.4.1 Market Trends
8.4.2 Market Forecast
8.5Retail
8.5.1 Market Trends
8.5.2 Market Forecast
8.6Education
8.6.1 Market Trends
8.6.2 Market Forecast
8.7Others
8.7.1 Market Trends
8.7.2 Market Forecast
9 Market Breakup by Region
9.1North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
14.3.18x8 Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2Avaya Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3Bandwidth Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4Infobip
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5Intelepeer Cloud Communications LLC
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6Mavenir Systems Inc. (Mavenir plc)
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7MessageBird B.V.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8Plivo Inc.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9Ringcentral Inc.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10Telnyx LLC
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11Twilio Inc.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson)
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
14.3.13Voxvalley Technologies Pvt. Ltd.
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio
Figure 1: Global: Communications Platform-as-a-Service Market: Major Drivers and Challenges
Figure 2: Global: Communications Platform-as-a-Service Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Communications Platform-as-a-Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Communications Platform-as-a-Service Market: Breakup by Component (in %), 2022
Figure 5: Global: Communications Platform-as-a-Service Market: Breakup by Enterprise Size (in %), 2022
Figure 6: Global: Communications Platform-as-a-Service Market: Breakup by Industry (in %), 2022
Figure 7: Global: Communications Platform-as-a-Service Market: Breakup by Region (in %), 2022
Figure 8: Global: Communications Platform-as-a-Service (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Communications Platform-as-a-Service (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Communications Platform-as-a-Service (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Communications Platform-as-a-Service (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Communications Platform-as-a-Service (Small and Medium-Size Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Communications Platform-as-a-Service (Small and Medium-Size Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Communications Platform-as-a-Service (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Communications Platform-as-a-Service (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Communications Platform-as-a-Service (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Communications Platform-as-a-Service (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Communications Platform-as-a-Service (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Communications Platform-as-a-Service (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Communications Platform-as-a-Service (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Communications Platform-as-a-Service (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Communications Platform-as-a-Service (Healthcare and Life Sciences) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Communications Platform-as-a-Service (Healthcare and Life Sciences) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Communications Platform-as-a-Service (Retail) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Communications Platform-as-a-Service (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Communications Platform-as-a-Service (Education) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Communications Platform-as-a-Service (Education) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Communications Platform-as-a-Service (Other Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Communications Platform-as-a-Service (Other Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: North America: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: North America: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: United States: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: United States: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Canada: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Canada: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia-Pacific: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia-Pacific: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: China: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: China: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Japan: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Japan: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: India: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: India: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South Korea: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: South Korea: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Australia: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Australia: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Indonesia: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Indonesia: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Others: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Others: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Europe: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Europe: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Germany: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Germany: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: France: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: France: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: United Kingdom: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: United Kingdom: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Italy: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Italy: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Spain: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Spain: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Russia: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Russia: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Latin America: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Latin America: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Brazil: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Brazil: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Mexico: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Mexico: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Others: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Others: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Middle East and Africa: Communications Platform-as-a-Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Middle East and Africa: Communications Platform-as-a-Service Market: Breakup by Country (in %), 2022
Figure 78: Middle East and Africa: Communications Platform-as-a-Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Global: Communications Platform-as-a-Service Industry: SWOT Analysis
Figure 80: Global: Communications Platform-as-a-Service Industry: Value Chain Analysis
Figure 81: Global: Communications Platform-as-a-Service Industry: Porter's Five Forces Analysis
Table 1: Global: Communications Platform-as-a-Service Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Communications Platform-as-a-Service Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Communications Platform-as-a-Service Market Forecast: Breakup by Enterprise Size (in Million US$), 2023-2028
Table 4: Global: Communications Platform-as-a-Service Market Forecast: Breakup by Industry (in Million US$), 2023-2028
Table 5: Global: Communications Platform-as-a-Service Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Communications Platform-as-a-Service Market: Competitive Structure
Table 7: Global: Communications Platform-as-a-Service Market: Key Players
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