BASINGSTOKE, England–(BUSINESS MALARAR)– A new study by Juniper Research shows that the CPaaS (Communications Platform-as-a-Service) market will reach $29 billion worldwide by 2025; From $16 billion in 2022. 80% over the next three years to capitalize on this significant growth in CPaaS. The Market Outlook, Emerging Opportunities & Forecasts 2023-2027 report urges CPaaS vendors to focus on the development of managed services. their platforms. These services should enable the creation and management of rich media content through channels such as OTT business messaging, email and social media.
For more insights, download our free whitepaper, Moving Beyond SMS: How will CPaaS evolve in 2023?
Investment by SMEs is key to growth in 2023
As markets become increasingly saturated with CPaaS services, CPaaS vendors must expand deeper into the SME (Small to Medium Enterprise) segment. In addition, the report predicts that CPaaS vendors will further focus on providing value-added capabilities that enable platform users to maximize the benefits of rich media channels by incorporating tools including workflow builders and AI-based chatbot solutions.
The author of the study, Sam Barker, commented:CPaaS providers are now competing in managed service capabilities to attract SMBs. Because many of these small businesses do not have in-house development capabilities, they will choose a CPaaS platform that provides the most comprehensive managed services for rich media channels.”
Emerging Waves That Will Disrupt CPaaS in 2023
SMS has historically been the cornerstone of CPaaS revenue. The report predicts that SMS traffic revenue will still account for more than 50% of all CPaaS revenue by 2025; due to its proven reliability in traffic interception such as MFA (Multi-Factor Authentication).
However, the report predicts that rich media channels such as email and social media will continue to expand and account for more than $10 billion in revenue by 2025. representing more than 40% of CPaaS market value. As a result, platforms that fail to include managed services for rich media services in their three-year plans risk missing out on the significant growth predicted for the CPaaS market.
View CPaaS Market Research: https://www.juniperresearch.com/researchstore/operators-providers/cpaas-research-report
Download the white paper: https://www.juniperresearch.com/whitepapers/how-cpaas-will-evolve-in-2023
Juniper Research provides research and analytical services to the global high-tech communications industry. providing advice, analyst reports and industry commentary.
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