Report

The Indian Communications Platform-as-a-Service (CPaaS) market is expected to register a CAGR of 23.5% during the forecast period (2023 - 2028). The growing usage of communications platforms as a service for consumer engagement is primarily driving the market.

� CPaaS platforms effectively eliminate the need for businesses to build real-time communication software stacks from the ground up instead of allowing them to use a plug-and-play cloud service that provides all the fundamentals and building blocks required for faster upgrades and enhancements without sacrificing security and usability. These solutions are anticipated to meet enterprise-level security standards and are simple to integrate into current communication systems.

� The increasing use of communications platforms as a service for customer engagement is the major factor that is expected to drive market growth. Communications platform as a service improves the overall customer experience by providing contextual communication solutions for customers.

� Furthermore, the country's adoption rate of digital solutions is rising significantly. The government focuses on integrating technology across various industries to avail the benefits of government initiatives. As a result, industries such as telecommunication, healthcare, banking, and financial services witnessed rapid adoption of digital platforms.

� In addition, the technology providers assisting with digital initiatives collaborated with several firms operating in the CPaaS market to assure customer satisfaction and enhanced customer experience. For instance, in January 2021, Tanla Platforms Limited and Microsoft announced the launch of Wisely, a blockchain-enabled communications platform-as-a-service (CPaaS) offering built on Microsoft Azure. Wisely offers a unique marketplace for enterprises and suppliers, a global edge-to-edge network that delivers private, secure, and trusted communication experiences. Microsoft is the development partner who architected and built this platform for Tanla.

� The multiple benefits of CPaaS, including increased organizational efficiency, integration of third-party apps, and many others, have pushed many businesses to migrate from on-premises communications to cloud-based platforms and APIs. However, the usage of APIs may provide various issues since open APIs may expose company data, resulting in unauthorized data access and limiting the market growth.

� The Covid-19 pandemic has driven businesses worldwide to relocate to remote working environments, causing growth in demand for remote working solutions. Communications platforms as a service (CPaaS), the combination of communications platforms and cloud computing, has evolved as a response to this growing need.

India Communication Platform as a Service (CPaaS) Market Trends

Growing Engagement with Customers Over Broad Range of Digital Touchpoints

� In recent years, communication platform services have grown significantly as businesses are adopting a complete portfolio to sustain value creation. AI-powered chatbots, A2P messaging, RCS Business Messaging, and WhatsApp Business Platform are just a few examples of CPaaS systems that allow businesses to interact and engage with consumers across a wide range of digital touchpoints.

� CPaaS is significantly growing in machine learning and AI, assisting organizations in their progress as the businesses are responding to market developments for their survival and catering to the customers' expectations quickly.

� Vodafone Idea (Vi), the third-largest telecom operator in the country, offers Cloud Telephony solutions to enterprises through its B2B arm called Vi Business. The telco offers it as a Communications Platform as a Service (CPaaS). With this solution from Vi, enterprises can focus on the core business areas by automating various processes using voice and SMS as communication channels.

� According to an IBEF study, 5 G's overall economic impact on India is expected to be around USD 1 trillion by the year 2035, making it a truly good proposition for the Indian economy in the coming future. 5G will also pave the way for Communications Platform as a Service (CPaaS) to build new digital businesses and revenue streams

� Moreover, as customer engagement is becoming important, brands and enterprises of all sizes are adopting different CPaaS Platforms to execute their customer engagement strategy and ensure a seamless end-to-end customer journey across multiple communication channels.

� India is expected to grow due to small and medium organizations' investments. SMEs are investing in expanding the adoption of cloud-based and technologically advanced solutions for the telecom sector. For instance, in India, the cloud's interest is driven by the increasing need for business innovation and agility, coupled with the ability to scale fast in a competitive market and the government's thrust towards a Digital India initiative.

Retail and E-commerce Industry to Drive the Market Growth

� The rapidly changing consumer trends and increasing demand have resulted in an improved shopping and service experience across all channels that cater to innovative communication tools which automate customer service and retail business operations.

� This shift in consumer preferences and behavior prompted the use of efficient communication platforms to improve customer experience. The integration of AI-based chatbots and CRM software are helping retail businesses give individualized solutions to customers, decode customer queries, and redirect them to respective departments for clarification.

� Furthermore, the retail tech companies are helping retail sectors with advanced communication platform integration that increases the proliferation of virtual and voice assistants, which is likely to create demand for CPaaS in the retail sector.

� The chatbots and automated marketing platforms that help reply to customers' concerns are helping e-commerce businesses. This resulted in increased investment by businesses in areas such as customer service where AI plays a vital role.

India Communication Platform as a Service (CPaaS) Market Competitor Analysis

The India Communications Platform-as-a-Service (CPaaS) Market is highly concentrated due to the presence of few vendors in the market conducting business in domestic and international markets. The key vendors are adopting major strategies like expansion, product innovation, mergers, and acquisitions to widen their product functionality and stay competitive.

� October 2021 - Routesms Solutions FZE, UAE, a wholly-owned subsidiary of Route Mobile Limited, signed the share purchase agreement to acquire a stake in Kuwait-based mobile communication service provider Interteleco International for Modern Communication Services (LLC), Kuwait (Interteleco), to expand its strong CPaaS capabilities in Kuwait.

� October 2021 - Route Mobile (UK) Limited, a wholly owned subsidiary of Route Mobile Limited, one of the prominent cloud communication platform service providers to enterprises, over-the-top (OTT) players, and mobile network operators, signed definitive agreements to acquire Masivian S.A.S (Masiv), a cloud communication platform service provider is catering to enterprises in Latin America. The acquisition is aligned with Route Mobile's global growth strategy to be a recognized global CPaaS player and to solidify its presence in Latin America.

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