MarkNtel Advisors recently published a detailed industry analysis of The Asia-Pacific Communication Platform as a Service (CPaaS) Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Asia-Pacific Communication Platform as a Service (CPaaS) Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2027
The Asia-Pacific Communication Platform as a Service (CPaaS) Market is projected to grow at a 33.39% CAGR during the forecast period, i.e., 2022-27.
Key Findings in Asia-Pacific Communication Platform as a Service (CPaaS) Market:
- Historical Analysis: 2017–2020
- Base Year: 2021
- Forecast Period: 2022–2027
Leading Market Players- Twilio, Vonage (Ericson) , Sinch, Tanla Platforms, Route Mobile, Telestax, Syniverse, RingCentral, Others
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Asia-Pacific Communication Platform as a Service (CPaaS) industry?
Growing Digital Ecosystem Owing to COVID-19- Digitalization offers various benefits to enterprises and other public organizations such as providing better services to their customers, helping enterprises to retain them, saving budget & other resource costs, etc. Hence, the governments of various countries in Asia Pacific like India, are focusing on the digitalization of their public sectors to meet the rising demand & expectations of their citizens & businesses. Thus, various initiatives were taken by the government of several countries in the Asia Pacific region to digitalize their services. This further encouraged their citizens to create a digitally empowered economy following faceless, paperless, and cashless modes like the use of digital payments methods using digital payment apps, mobile banking, etc.
However, in 2020, COVID-19 impacted the economic activities of various countries in Asia Pacific countries like India, China, etc., and created havoc among citizens and enterprises. Hence, the COVID-19 pandemic accelerated the adoption a digitalization mode of operations across industries such as healthcare, banking, education, etc., as the enterprises aimed at reaching the end consumer effectively. Also, various organizations like WHO, and the G-20 group also took initiatives to help the impacted countries.
Considering these factors, it is evident that the COVID-19 pandemic created the need for an effective communication platform for every enterprise so as to enhance their customer experience & engagements in an effective way. Thus, CPaaS demand that Communication Platform as a Service (CPaaS) providers engage & have impactful interaction with their customers around the world.
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What segments define The Asia-Pacific Communication Platform as a Service (CPaaS) Market from 2022 to 2027? How do these segments contribute to market dynamics and growth?
By Services
- Professional Services
- Integration & Implementation
- Technical support
- Consulting
- Support & Maintenance
- Others
- Managed Services
- Hosting services
- Managed communication services
- Others
By Enterprise Size
- Small & Medium Scale Enterprise
- Large Scale Enterprise
According to report, In 2021, large enterprises completely dominated the market, owing to their large customer base, extensive investment spectrum, and greater urge to integrate disruptive technologies to streamline their operational activities.
By End User
- Healthcare
- E-commerce & Retail
- IT & Telecom
- BFSI
- Hospitality
- Others (Media & Entertainment, Manufacturing, etc.)
According to report, In 2021, BFSI held the major market share in the regional CPaaS market. In the era of digitalization, where industries are forced to adopt digital transformation to stay relevant, the banking sector is no exception.
Explore the Complete Asia-Pacific Communication Platform as a Service (CPaaS) Market Analysis Report – https://www.marknteladvisors.com/research-library/asia-pacific-communication-platform-as-a-service-cpaas-market.html
Geographical Analysis: Asia-Pacific Communication Platform as a Service (CPaaS) Market
By Country
- China
- India
- Japan
- South Korea
- ANZ Region
- ASEAN Region
- Others
Asia-Pacific Communication Platform as a Service (CPaaS) Market Recent Development:
- In 2022, Twilio Announced the latest API for Flex contact center services, which would combine the platform’s existing chat channels under a single umbrella, making it easier for developers to build contact center applications that the end users would be able to use easily.
- In 2022, VoicePing, a Japan-based company, chose Vonage to power virtual reality (VR) travel experiences using its Dokodemo (Anywhere) Door Trip service. This would allow the customers to enjoy virtual travel
- In 2021, Tanla & Microsoft together launched a blockchain-enabled communication platform-as-a-service (CPaaS), an offering built on Microsoft Azure. Microsoft built the platform for Tanla to provide their customers with a secure, private, and trusted communication experience.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of The Asia-Pacific Communication Platform as a Service (CPaaS) Market?
- How is The Asia-Pacific Communication Platform as a Service (CPaaS) Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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