Technology News, IT News, and Press release service Submit Press Release

Information Tech News & Press Release Distribution

Press release distribution service

Home | Search Global IT News:
IT News & Press Release Distribution:

Communications Platform as a Service Market Extrapolated to Reach $45.3 billion by 2027

(IT-NEWSWIRE.COM, January 05, 2023 ) According to a research report "Communication Platform as a Service Market by Component (Solutions (Message, Voice, Video) and Services (Professional and Managed)), Organization Size (SMEs and Large Enterprises), Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets, the global CPaaS market is projected to grow from USD 12.5 billion in 2022 to USD 45.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 29.4% during the forecast period. The growth of the CPaaS market can be attributed to the growing demand for improved customer service and client engagement. Moreover, the boost in the adoption of CPaaS solutions during the pandemic fuels the growth of the market.

Browse 268 market data Tables and 61 Figures spread through 288 Pages and in-depth TOC on "Communication Platform as a Service Market - Global Forecast to 2027"

Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=195778981

By component, the solutions segment to account for a larger market share during the forecast period

The solutions segment is expected to account for a larger market share during the forecast period. CPaaS solutions allow organizations to add voice, video, and messaging features to their existing business software using APIs. This allows them to cherry-pick real-time communications features and embed them into their apps and services. This feature is attractive to growing companies who already use a cloud-based technology stack and want to customize their communications infrastructure.

By services, the managed services subsegment is expected to grow for a higher growth during the forecast period

The managed services subsegment is expected to account for the highest growth rate during the forecast period. The managed service providers support and manage third-party infrastructure that help organizations to manage their products or services. The need for comprehensive managed services has increased as it has alleviated the workload placed on IT, all while ensuring business continuity and customer communications.

Request Sample Pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=195778981

By region, North America is expected to account for the largest market size during the forecast period

North America is expected to account for the largest share in the CPaaS market. North America, for this study, includes the US and Canada. It is one of the most technologically advanced regions in the world. The region is well-connected with advanced infrastructure, which helps CPaaS vendors offer quality services to their clients. It offers the most innovative and fastest services available in the world through its network infrastructure. The CPaaS market in North America is competitive due to the presence of a large number of solution providers. North America is expected to be one of the early adopters of 5G technology, which would boost the adoption of CPaaS solutions in the region. The presence of most key vendors of CPaaS solutions such as Twilio, Avaya, Vonage, Bandwidth, and RingCentral has contributed to the market growth in the region.

Market Players

The major vendors in the CPaaS market include Twilio (US), Sinch (Sweden), Avaya (US), Vonage (US), Bandwidth (US), RingCentral (US), TeleSign (US), Infobip (UK), CM.com (Netherlands), and 8x8 (US).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

Information Technology Resources
  • Application Software
  • Bioinformatics
  • Computers
  • Computer Games
  • Enterprise Software
  • Graphics/Printing/CAD
  • Hardware/Peripheral
  • industrial Computers
  • Information
  • Internet
  • Multimedia
  • Networking
  • Public Sector
  • Robotics
  • Semiconductor
  • Software
  • Telecommunications
  • Webmaster
  • Information Technology (IT) Advertisement
    Information Technology Sponsors



    Information Technology Publications
    We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Information Technology resource center today to browse our selection of 600+ complimentary Information Technology magazines, white papers, webinars, podcasts, and more. Get popular titles including:

    The Integration Journey—a Field Guide to Enterprise Integration for SOA
    Government Technology\'s Public CIO
    Protecting Content During Business Disruption: Are You Covered?

    No credit cards, coupons, or promo codes required. Try it today!

    Press release distribution service

    ITPresswire.com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © GroupWeb Media LLC. All Rights Reserved.

    :: Home: :: Submit Press Release :: Subscribe to News :: Shop Online :: Contact Us :: Help

    For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.
    Copyright 2008 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    ITPresswire.com - Newswire and Press Release service of GroupWeb Media LLC