Global Communication Platform as a Service Market to reach USD 35.8 billion by 2027.Global Communication Platform as a Service Market is valued approximately at USD 4.54 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 34.30% over the forecast period 2021-2027. Communications-platform-as-a-service (CPaaS) allows phone, video, and messaging to be integrated into applications without the need to create a real-time communications stack. It allows developers to include real-time communication features in their standalone apps without having to create backend infrastructure and interfaces. Communications-platform-as-a-service (CPaaS) also contributes to lower total costs for building and operating a communications stack. The market growth is driven by growing demand for omnichannel marketing and growing shift of companies from adjacent and traditional models. According to a survey by Accenture, more than 73% of customers said they expected customer service to be easier, faster, and more convenient than it currently is. Many retail companies see Omni-channel as a wonderful chance to acquire a competitive edge. However, with the majority of large enterprises now operating across many channels (online and mobile), customer service has emerged as a crucial element influencing the decision to choose one supplier or store over another. Furthermore, rise in BYOD policies in several organizations boost the market growth. According to Cisco, companies that have a BYOD policy in place save an average of USD 350 per employee each year. Furthermore, reactive strategies can increase these savings to USD 1,300 per employee per year. These cost savings may quickly add up for Small to Medium Businesses (SMBs), allowing them to better safeguard their bottom line while boosting staff productivity. However, lack of privacy and transparency, may impede market growth over the forecast period of 2021-2027.

Geographically, North America is dominating the communication platform as a service market due to the SMEs' strong adoption of cloud-based technology for communication. During the projected period, the market in this region is likely to be driven by increased investment in cloud-based technologies. However, in due to higher demand for cost-effective and user-friendly browser-based communication solutions, leading market players are planning to launch integrated and unified CPaaS solutions in the region, which is likely to drive market growth.


Major market player included in this report are:
Voximplant (Zingaya Inc.
Twilio Inc.
Voxvalley Technologies
MessageBird B.V.
IntelePeer Cloud Communications
Vonage Holdings Corp
Sinch AB
Bandwidth Inc.
Plivo Inc.
8x8 Inc.




The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product End User Verticals of key players. The detailed segments and sub-segment of the market are explained below:

By End User Vertical:
IT and Telecom
BFSI
Retail and E-commerce
Healthcare
Other End-User Verticals
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Communication Platform as a Service Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors