ASIA PACIFIC COMMUNICATION PLATFORM AS A SERVICE MARKET ANALYSIS

Communications platform as a service (CPaaS) offers application developers a cloud-based middleware on which they can develop, run and distribute communications software. The platform offers application programming interface (APIs) that simplify integration of communications capabilities (for example, voice, messaging, and video) into any app, service or business process.

Asia Pacific communication platform as a service (CPaaS) market is expected to witness significant growth during the forecast period (2021–2028). Low cost of ownership of cloud-based communication platform and rising adoption of pay-as-you-go cloud business models are some of the factors that are expected to drive the market growth. CPaaS is a cloud-based platform that helps customers by offering API-driven communications and micro services to their real-time application processes. CPaaS can be integrated in various applications without utilizing backend infrastructure and interfaces, owing to which there are no upfront hardware (IT infrastructure) or software costs involved at the time of implementation of CPaaS. Moreover, CPaaS allows customers to develop communication features in existing on-premise communication systems such as telephony or media servers, thereby allowing customers to add new cloud-based functionality. In addition, CPaaS pricing is also available with pay per use structure, which is affordable for small scale and micro industries. All these factors are expected to drive growth of the Asia Pacific CPaaS market.

Asia Pacific Communication Platform as a Service (CPaaS) Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 has significantly disrupted almost all the industries including infrastructure, transportation, oil and gas, manufacturing, and others. To combat COVID-19 pandemic, most of the countries had implemented lockdown restrictions, which are now being eased slowly on phase-wise and industry-wide basis. Furthermore, many companies are providing work-from-home option to employees to constrain the spread of coronavirus. The COVID-19 outbreak resulted in rise in the number of remote devices accessing the enterprise network infrastructure. The increase in work-from-home trends has enabled enterprises to deploy communication platform as a service solutions during the pandemic. The recent COVID-19 pandemic impacted positively on the market for communication platform as a service solutions.

China is expected to hold dominant position in the Asia Pacific communication platform as a service (CPaaS) market during the forecast period.

Statistics:

China held dominant position in the Asia Pacific communication platform as a service (CPaaS) market in 2020, accounting for 25.7% share, in terms of value.

Figure 1: Asia Pacific Communication Platform as a Service (CPaaS) Market Share (%), By Country, 2020

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Among country, China held dominant position in the Asia Pacific communication platform as a service (CPaaS) market in 2020 and is expected to retain its dominance throughout the forecast period. China is the largest exporter of goods in the world, owing to which manufacturers in the country are adopting CPaaS to provide remote assistance and establish personalized communication with across-the-border customers. According to the Observatory of Economic Complexity, in 2017, China exported US$ 2.41 tones of goods, and the exports from the country grew at a rate of 2.5% between 2012 and 2017. These factors are expected to facilitate growth of the Asia Pacific communication platform as a service market over the forecast period.

VoiP & Voice API Platform segment is expected to hold dominant position in the market during the forecast period.

Among component, VoiP & Voice API platform segment is expected to hold dominant position in the Asia Pacific communication platform as a service (CPaaS) market during the forecast period. This is attributed to the rising need for voice and web conferencing and real-time communications in BFSI and IT sectors.

Figure 2: Asia Pacific Communication Platform as a Service (CPaaS) Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2028

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Asia Pacific communication platform as a service (CPaaS) market was valued at US$ 1,009.4 Mn in 2020 and is expected to reach US$ 28,807.6 Mn by 2028 at a CAGR of 45.5% between 2021 and 2028.

Major players operating in the Asia Pacific communication platform as a service (CPaaS) market include Voxbone, GENBAND, RingCentral Connect Platform, Brightlink CPaaS Platform, MessageBird, Exotel, Karix Mobile Pvt. Ltd, CALLHIPPO, VCLOUDX PTE LTD, Plivo Inc., Xoxzo Inc., Nippon, BroadSoft Japan KK, NTT Communications Corporation, Telesmart, TWILIO INC., Infobip ltd, Alcatel-Lucent S.A, Amazon Connect, and Ribbon Communications Operating Company, Inc.