Communication Platform-as-a-Service (CPaaS) Market Size to Grow by $10.19 Billion, Solutions to Become Largest Revenue-Generating Component Segment

NEW YORK, November 17, 2022 /PRNewswire/ — The “Communications Platform as a Service (CPaaS) market. by Component (Solutions and Services) and Geography (North America, EuropeAPAC, South AmericaAnd Middle East And Africa) – The report “Forecasts and Analysis 2022-2026” has been added to the Technavio offer. With ISO 9001:2015 certification, Technavio has proudly partnered with over 100 Fortune 500 companies for over 16 years. -a-service (cPaaS) between 2021 and 2026 is USD 10.19 billion. To get the exact annual growth variance and year-on-year growth rate, request a FREE PDF sample report

Technavio has announced its latest market research report titled Global Communication Platform-as-a-Service (CPaaS) Market

Market segmentation

The solutions segment will be a significant contributor to the growth of the market during the forecast period. This is due to the growing demand for network systems capable of enabling smooth communications across multiple end-user industries. Also, low-cost cloud-based solutions are being adopted by healthcare professionals. These solutions segment factors will drive the growth of the communications platform as a service market during the forecast period.

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North America will be the leading region with 64% of the market growth during the forecast period. The United States is the key country for the communications platform as a service (cPaaS) market in North America.

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Main market dynamics

  • Market Drivers: Simplified application management is driving the growth of the market. The use of CPaaS is on the rise, as this approach offers the flexibility and efficiency essential to drive business growth. Businesses don’t need to set up and maintain servers and updates, as they are managed by cloud-based service providers. The CPaaS model helps manage all applications from a central location, eliminating IT governance issues and allowing instant access to internal infrastructure. It simplifies the tasks of application developers by eliminating the need for time-consuming configuration tasks by offering an easy-to-use plug-and-play interface. Such conveniences will drive the growth of the communications platform as a service (CPaaS) market during the forecast period.

  • Market challenges: Public cloud security issues challenge market growth. In a public cloud, applications from multiple customers typically run on the same operating system. Applications can be isolated from each other using containers or a language specific sandbox mechanism. As a result, customers face vulnerabilities such as permissive default application configurations and holes in Secure Sockets Layer (SSL) protocols. Regulations such as the General Data Protection Regulation (GDPR) impose certain restrictions on where data can be stored. Data security is extremely critical to the financial services and healthcare industries. Therefore, public cloud and storage related security issues may reduce the acceptance of the CPaaS model, which, in turn, will hamper the growth of the Communications Platform as a Service (CPaaS) market during the forecast period.

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Some companies mentioned

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Communications platform as a service (CPaaS) market scope.

Report coverage

Details

Page number

120

Reference year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerates to a CAGR of 17.85%

Market growth 2022-2026

USD 10.19 billion

Market structure

Fragmented

Year-Over-Year Growth (%)

17.23

Regional analysis

North America, Europe, APAC, South America, the Middle East and Africa

Performing market contribution

North America at 64%

Main consuming countries

United States, Japan, China, United Kingdom and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Profiled companies

8×8 Inc., Alvaria Inc., Avaya Holdings Corp., Bandwidth Inc., Communication Wazo Inc., Infobip Ltd., IntelePeer, Iotum Inc., M800 Ltd., MessageBird BV, Mitel Networks Corp., Plivo Inc., Sinch AB , Telestax Inc., Twilio Inc., vCloudx Pte. Ltd., Vidyo Inc., Vonage Holdings Corp., Voximplant Inc. and Voxvalley Technologies Pvt. srl.

Market dynamics

Analysis of the main market, drivers and barriers to market growth, analysis of the fast and slow growing segments, the impact of COVID-19 and future consumer dynamics and market condition analysis for the forecast period.

Customization expertise

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

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Main topics covered

1 Executive Summary

2 Market landscape

3 Market sizing

4 Analysis of the five forces

5 Market segmentation by component

6 Customer landscape

7 Geographical landscape

8 drivers, challenges and trends

9 Supplier overview

10 Vendor analysis

11 Appendix

Who we are

Technavio is a world-leading technology research and consulting company. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, covering 800 technologies, spanning 50 countries. Their client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base is based on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in the markets existing and potential and evaluate their competitive positions within evolving market scenarios.

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