Communication Platform-as-a-Service (CPaaS) Market Size to Grow by USD 10.19 Billion, Solutions to


NEW YORK, Nov. 17, 2022 /PRNewswire/ — The “Communication Platform-as-a-Service (CPaaS) Market by Component (Solutions and Services) and Geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the communication platform-as-a-service (cPaaS) market size between 2021 and 2026 is USD 10.19 billion. To get the exact yearly growth variance and the Y-O-Y 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

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 market growth during the forecast period. This is due to the increasing demand for network systems that can enable smooth communications across multiple end-user industries. Moreover, low-cost cloud-based solutions are being adopted by healthcare providers. These factors of the solutions segment will drive the communication platform-as-a-service market growth during the forecast period.

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North America will be the leading region with 64% of the market’s growth during the forecast period. The US is the key country for the communication platform-as-a-service (cPaaS) market in North America.

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Key Market Dynamics

  • Market Driver: Streamlined application management is driving market growth. The use of CPaaS is increasing, as this approach brings flexibility and efficiency, which are essential for driving business growth. Enterprises do not have to set up and maintain servers and upgrades, as they are handled by cloud-based service vendors. The CPaaS model helps manage all the applications from a central place by eliminating the concern of IT governance and enabling instant access to internal infrastructure. It simplifies the tasks of application developers by eliminating the need for time-consuming configuration tasks by offering a user-friendly plug-and-play interface. Such conveniences will drive the communication platform-as-a-service (CPaaS) market growth during the forecast period.

  • Market Challenges: Security concerns related to the public cloud are challenging market growth. In a public cloud, applications from multiple customers are typically run on the same OS. Applications may be isolated from each other using containers or language-specific sandbox mechanism. As a result, customers face vulnerabilities such as lax default application configurations and holes in the Secure Sockets Layer (SSL) protocols. Regulations such as the General Data Protection Regulation (GDPR) impose certain restrictions on where the data can be stored. Data security is extremely critical for the financial services and healthcare industries. Thus, security issues related to the public cloud and storage can lower the acceptance of the CPaaS model, which, in turn, will hamper the growth of the communication platform-as-a-service (CPaaS) market during the forecast period.

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Some Companies Mentioned

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Access Control as a Service Market by Type and Geography – Forecast and Analysis 2022-2026: The growing awareness of sophisticated data security threats is driving the market growth. The increasing concerns about data security are driving the demand for ACaaS. It is adopted by organizations because of its inherent cyber-risk management capabilities.

Communication Platform-as-a-Service (CPaaS) Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 17.85%

Market growth 2022-2026

USD 10.19 billion

Market structure

Fragmented

YoY growth (%)

17.23

Regional analysis

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

Performing market contribution

North America at 64%

Key consumer countries

US, Japan, China, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Key Topics Covered

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Component

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

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

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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(PRNewsfoto/Technavio)

(PRNewsfoto/Technavio)

Cision

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SOURCE Technavio



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2022-11-16 23:07:43

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