PUBLISHER: Allied Market Research | PRODUCT CODE: 1266545
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266545
Communication Platform as a Service (CPaaS), is a cloud-based platform that allows developers to focus on building their applications and helps them to add real-time communication channels. It offers a complete development framework, that includes, software tools, standards-based application programming interfaces (APIs), sample code, and pre-built applications. It essentially enables seamless integration of voice, messaging, video, etc. into one software, through APIs.
Growing trend of mobility and BYOD and demand for personalized and streamlined customer interaction to achieve high customer satisfaction is boosting the growth of the global communication platform as a service (CPaaS) market. In addition, Increasing in use of chat bot sales in CPaaS is positively impacts growth of the communication platform as a service (CPaaS) market. However, internet bandwidth and technical glitch issues and increasing security concern is hampering the communication platform as a service (CPaaS) market growth. On the contrary, increase in use of technological advancement is expected to offer remunerative opportunities for expansion of the communication platform as a service (CPaaS) market during the forecast period.
The communication platform as a service (CPaaS) market is segmented on the basis of by component, enterprise size, industry vertical, and region. On the basis of component, the market is categorized into solution and service. On the basis of enterprise size, the market is bifurcated into large enterprises and SMEs. By industry vertical, it is classified into BFSI, IT and telecom, government and public sector, manufacturing, retail and consumer goods, education, healthcare & life science, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the communication platform as a service (CPaaS) market are: 8x8 Inc., ALE International, Avaya Inc., Bandwidth Inc., Infobip Ltd., IntelePeer Cloud Communications LLC, Plivo Inc., Sinch, Twilio Inc., Vonage America, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.