Communications Platform as a Service (CPaaS) Market Size Expected to Grow by USD 10.19 Billion as Solutions Become Largest Revenue-Driving Component Segment – Technavio

NEW YORK, November 17, 2022 /PRNewswire/ — The “Communications Platform as a Service (CPaaS) Market by component (solutions and services) and geography (North America, EuropeACPA, South Americaand Middle East and Africa) – The “Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with over 100 Fortune 500 companies for over 16 years. The difference in potential growth for Communication Platform-like-a-service (cPaaS) Market size between 2021 and 2026 is $10.19 billion. To get the exact annual growth variance and annual growth rate, request a FREE sample PDF report

Market segmentation

The solutions will be a significant contributor to the growth of the market over the forecast period. This is due to the growing demand for network systems capable of enabling seamless communications between multiple end-user industries. Additionally, low-cost cloud-based solutions are being adopted by healthcare providers. These solutions segment factors will drive the growth of the Communication Platforms-as-a-Service market over the forecast period.

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North America will be the leading region with 64% of the market growth during the forecast period. The United States is the key country for the communication platforms as a service (cPaaS) market in North America.

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Key market dynamics

• Market engine: Simplified application management is driving the growth of the market. The use of CPaaS is on the rise, as this approach brings flexibility and efficiency, essential for driving business growth. Businesses do not need to setup and maintain servers and upgrades as they are handled by cloud-based service providers. The CPaaS model allows all applications to be managed from a central location by eliminating IT governance concerns and allowing instant access to internal infrastructure. It simplifies the tasks of application developers by eliminating the need for time-consuming configuration tasks by offering a user-friendly plug-and-play interface. Such conveniences will drive the growth of the Communication Platform as a Service (CPaaS) market over the forecast period.

• Market challenges: Public cloud security issues challenge market growth. In a public cloud, applications from multiple customers typically run on the same operating system. Applications can be isolated from each other using containers or a language-specific sandbox mechanism. As a result, customers face vulnerabilities such as lax default application configurations and holes in Secure Sockets Layer (SSL) protocols. Regulations such as the General Data Protection Regulation (GDPR) place certain restrictions on where data can be stored. Data security is extremely critical for the financial services and healthcare industries. Thus, security issues related to public cloud and storage may reduce the acceptance of CPaaS model, which in turn will hamper the growth of the Communication Platform as a Service (CPaaS) market during of the forecast period.

The story continues

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Main topics covered

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Component

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier landscape

10 Vendor Analysis

11 Appendix

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