ASIA PACIFIC COMMUNICATION PLATFORM AS A SERVICE MARKET ANALYSIS

Asia Pacific Communication Platform As A Service MarketSize and Trends

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.

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

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.