In this digitalization-driven world, where everything is imagined and supposed to be available online, customer services, inquiries, selling, and other types of business operations are also expected to get accelerated in the online world. This rapid transition to the online world is what strengthens the backbone of the CPaas market in India as well as worldwide.  

CPaaS or Communication as a service market is one of the most dynamic and progressing markets. While little can be done overnight in the CPaaS market domain, long-time statistics show a positive correlation with prospects of accelerated growth. Let’s walk through what the past, present, and future stats say about the CPaaS market!  

Bygone Numbers!  

If you are thinking that the CPaas market has got its growth overnight, you must be unaware of bygone data or past statistics. Throughout the last decade, this industry has experienced a steady rise and a bit of accelerated growth in the last few years. This also includes the usage elevation of the number of real-time communication features of CPaas platforms. Prompt reverts, every time availability, interactive interfaces, to name some! The credit for this can be given to CPaas providers like Voxvalley!  

According to a Statista report, the past numbers of CPaas market are promising. It notes that in 2015, the CPaaS market size was around 0.4 billion US dollars which became 5.9 billion US dollars in 2020 with 3.3 and 4.2 billion US dollars in 2018, and 2019 respectively.  

Looking at the data from 2020, the estimated value of CPaas or communication as a Service platform was $7 billion. In this, the major revenue was from SMS services due to continuous and significant increases in mobile phone users. But, this $7 billion is expected to reach $25 billion by 2025! Can you imagine?  

A momentary fall: Factors that pulled CPaaS market growth!  

When the world was hit by the pandemic, businesses suffered and so did the CPaas market growth. The investors took a back seat, and soon even after the implementation of “Work from home” models, the CPaaS market growth suffered. The underlying reasons could be crippled economic situations, the risk associated with long-time investments, and a continuous uncertainty on the end date of the pandemic.  

But, thanks to technology! We now have a pretty stable business market which is exerting a positive impact on the CPaaS market.  

Today’s Scenario 

The year 2022 is expected to ignite some new technological advances, which also include unprecedented CPaaS market growth. Believe it or not, the tech advances are shedding a positive spotlight on the CPaaS market. In addition, the increasing digital campaigns and a wave of transition to digital platforms firm the backbone of such change.  

According to a study by Juniper Research, it is estimated that the CPaaS market will reach a global value of $10 billion in 2022. If this happens, it would be the first time ever to hike and would bring some new challenges for CPaas providers. Another dimension of this market hike is, it is somewhat 17% growth year-on-year basis, as the market experienced around $8.6 billion in last year, .i.e. in 2021.  

Apart from this, the other utility shifts can be towards video communications, AI amalgamation in cloud-based communication channels, and whatnot! Furthermore, the overlap of CPaas, UCaaS, and CCaaS can also be seen in 2022. Let’s dig more into the future of the CPaaS market!   

An Era to Welcome: Future of CPaaS Market 

The future of the CPaaS market is indeed optimistic with continuous implementations and achievements of pragmatic tech innovations. If various research, surveys, and tech predictions are to be believed, the coming 5 to 10 years would surface revolutionary changes in the CPaaS market.  

According to a study by Juniper Research, it is estimated that the CPaaS market will get around 260 % growth in the coming 5 years. This change would definitely strengthen digital communication, businesses online, and would definitely push some businesses to transit online. Nevertheless, this rise in the CPaas market would also level up the customer service standards, inter and intra-communication while leaving no room for anomalies.  

With some positive hypotheses of growth in coming years, some premonitions are also there. For instance, it is believed that by the end of 2025, the SMs market will experience a fall of up to 70% of revenue. The reason for this is claimed to be the substitution of media messaging solutions in CPaas. But, the other dimension of this is also there which says that nearly around 15% of the global CPaas profit would be pronounced through communications services including SMS.  

CPaaS: A Promulgating market 

With continuous advancement and innovation for new technologies, it is now evident how all these bring revolutionary changes. When it comes to CPaaS, the market is progressing and is getting foundations for some of the most robust future trends. Be it digital communication, enhancing customer service experience, or taking a business international with complete security and safety, CPaas is leaving no stone unturned.  

Moreover, the CPaas providers enhancing the facilities, possibilities, features, and advanced utility dimensions of cloud platforms are no less than a magic wand to support this dynamic digitalization.  and that’s what Voxvalley is aspiring to deliver. To back up some never seen market trends in CPaas market growth, Vox-CPaaS delineates advanced features and service aspects of CPaaS platforms to further take the CPaaS market to elevated levels.  

No matter if you need audio, SMS, video, or call services for your business, Vox-CPaas has all you need! Sign up for a free trial now!