Communication Platform as a Service Market is Estimated to Reach USD 71.96 Billion by 2030: Cognitive Market Research

Communication Platform as a Service Market Overview:
What is a Communication Platform as a Service?
The CPaaS is a cloud-based platform, which is used to improve the customer communications platform by delivering connectivity among people, objects, and applications. This platform as a service is top the way to improve the new age of connectivity and integration of APIs, the delivery model enables the messaging features and video-to-voice to the existing companies' software.

Summary:
• As per the study of CMR, The Global Communication Platform as a Service Market size was valued at USD 14.21 Billion in 2022 and is expected to grow at a CAGR Of 22.57 % during the forecast period, reaching USD 71.96 Billion by 2030.
• Based on the industry vertical, the IT & Telecom segment has the major revenue share in the Communication Platform as a Service market.
• Based on the component, the solution segment has the largest revenue share in the Communication Platform as a Service market.
• Based on enterprise size, the large enterprise segment has the largest market share in the Communication Platform as a Service market.
• North America has the largest revenue share in the Communication Platform as a Service market.

To know more about The Communication Platform as a Service Market statistics click here: https://www.cognitivemarketresearch.com/communication-platform-as-a-service-market-report

Market Dynamics
Communication Platform as a Service Market Drivers:
Increasing demand for streamlined and personalized customer interaction to complete customer satisfaction and the trend of BYOD and mobility is the key factor expected to drive the growth of the CPaaS market. In addition, increasing the use of chatbot sales in communication platforms as a service is expected to boost the growth of this segment.

Communication Platform as a Service Market Opportunities:
Increasing use of Communication Platform as a Service technological advancement is likely to create growth opportunities for the Communication Platform as a Service market in the forecast period.

Communication Platform as a Service Market Restraints:
Increasing security concerns, and internet technical glitches, and bandwidth issues may hamper the Communication Platform as a Service market growth in the forecast period.

Market Segmentation:
Industry Vertical:
• Healthcare
• Government and Public Sector
• IT and Telecom
• Education
• BFSI
• Manufacturing
• Retail
• Others
Based on the industry vertical, the IT & Telecom segment has the major revenue share in the Communication Platform as a Service market. This is owing to the increasing demand for Communication Platform as a Service in the IT & telecom industry expected to drive this segment growth in the target market.

Component:
• Service
• Solution
Based on the component, the solution segment has the largest revenue share in the Communication Platform as a Service market. This is due to an increasing consumer base across communication channels likely to boost the demand for this segment. In addition, the service segment is anticipated to show the highest growth in the forecast period. This is due to improve customer engagement, the increasing organizational efficiency, and reduce costs projected to drive the growth of this segment.

Enterprise Size:
• SMEs
• Large Enterprise
Based on enterprise size, the large enterprise segment has the largest market share in the Communication Platform as a Service market. This is attributed to rapidly increasing digital engagement with the customer in the large industry and increasing IT investment likely to boost the demand for this segment in the target market.

Competitive Analysis of Communication Platform as a Service Market: 8x8 Inc, Alcatel Lucent Enterprise, AT&T, Avaya, Bandwidth, EnableX.io (VCLOUDX), Enghouse Systems (Vidyo), Infobip, IntelePeer Cloud Communications, Iotum, M800 Limited, MessageBird, Mitel Networks

Get free sample pages of the latest published Communication Platform as a Service Market Report: https://www.cognitivemarketresearch.com/communication-platform-as-a-service-market-report

Regional Analysis:
North America accounted for the largest share of the Communication Platform as a Service market
North America has the largest revenue share in the Communication Platform as a Service market. This is due to the presence of several smartphone industries and easily availability of smartphones at lower prices in the region anticipated to drive the growth of the target market in the region.

Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Communication Platform as a Service Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Communication Platform as a Service Market Segmentation
1.5.1 Communication Platform as a Service Market Regional Fragmentation
1.5.1 Communication Platform as a Service Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Communication Platform as a Service Market
• 3.1 Global Communication Platform as a Service Market Size 2018 - 2030, (USD Million)
• 3.2 Global Communication Platform as a Service Value, Absolute & Opportunity Analysis
• 3.3 Global Communication Platform as a Service Market Y-o-Y Growth Rate Projection by Region (2023 - 2030)
• 3.4 Global Communication Platform as a Service Market Statistics 2022: Snapshot
Chapter 4 Global Communication Platform as a Service Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Communication Platform as a Service Market by Component Segmentation Analysis (2018-2030)
Chapter 10 Global Communication Platform as a Service Market by Industry Vertical Segmentation Analysis (2018-2030)
Chapter 11 Global Communication Platform as a Service Market by Size Segmentation Analysis (2018-2030)
Chapter 12 Global Communication Platform as a Service Market Regional Analysis
Chapter 13 North America Communication Platform as a Service Market Outlook (2018 - 2030)
Chapter 14 Europe Communication Platform as a Service Market Outlook (2018 - 2030)
Chapter 15 Asia Pacific Communication Platform as a Service Market Outlook (2018 - 2030)
Chapter 16 Latin America Communication Platform as a Service Market Outlook (2018 - 2030)
Chapter 17 Middle East and Africa Communication Platform as a Service Market Outlook (2018 - 2030)
Chapter 18 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)
To know more about The Communication Platform as a Service Market TOC click here: https://www.cognitivemarketresearch.com/communication-platform-as-a-service-market-report#table_of_contents

Related Report:
• Satellite Communication Equipment Market- https://www.cognitivemarketresearch.com/satellite-communication-equipment-market-report
• Mobile VoIP Market- https://www.cognitivemarketresearch.com/mobile-voip-market-report
• Communication Analyzers Market- https://www.cognitivemarketresearch.com/communication-analyzers-market-report
• Mobile Voip App Market- https://www.cognitivemarketresearch.com/mobile-voip-app-market-report

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us

About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

This release was published on openPR.