Asia Pacific Communication Platform as a Service (CPaaS) Market to Show Robust Growth with Growing E-Commerce Industry in the Region

Asia Pacific Communication Platform as a Service (CPaaS) Market 

Overview:

Communication Platform as a Service, or CPaaS, is a new way for developers to add real-time communication channels like voice, video, and SMS to their existing software and apps without building backend infrastructure. These tools give businesses a powerful new option for upgrading their technology and improving customer experience. Unlike other Software as a Service models, which come with bundled monthly plans that often include features customers don’t need, CPaaS allows them to select the specific communication tools that will work best for their needs. This gives customer more control and agility than ever before.

Market Dynamics:

Growing use of CPaaS in ecommerce industry is anticipated to propel growth of the Asia Pacific Communication Platform as a Service (CPaaS) market over the forecast period. Asia Pacific region is witnessing substantial growth in e-commerce industry due to increasing technological adoption by population in the region. For instance, as per the India Brand Equity Foundation, the e-commerce market growth in the country is likely to show 21.5% increase, with US$ 74.8 billion market value in 2022. Thus, due to growing e-commerce industry of the region, the use of CPaaS is increasingly rapidly, due to which the market is likely to show robust growth in Asia Pacific in the coming future.

However, factors such as concerns regarding data security are projected to hamper growth of the Asia Pacific communication platform as a service (CPaaS) market over the forecast period. Communication platforms gather various types of user data to provide better experience, and operate efficiently. However, with increasing threats of cyber-attacks, there are concerns regarding data security of CPaaS solutions.

Impact of COVID-19:

The outbreak of COVID-19 has impacted many businesses all over the world. Several industries were disrupted including transportation, infrastructure, manufacturing, oil and gas, among others. Many countries announced countrywide lockdowns to control further spreading of virus. During this time, several companies adopted work from home module, which in turn boosted the demand for CPaaS solutions. As a result, the market was positively impacted by the coronavirus outbreak.

Key Takeaways:

·   The Asia Pacific Communication Platform As A Service (Cpaas) Market is anticipated to grow with a CAGR of  45.5% during the forecast period, due to increase in adoption of pay-as-you-go cloud business models, due to their low cost of ownership. For instance, in January 2021, IBM Cloud introduced a novel billing mode, Cloud Pay as you go with committed use. The novel billing model allows customers to commit to send a specific amount on IBM Cloud and gives them discounts in all the Cloud platforms.

·       China is likely to show significant growth in the Asia Pacific communication platform as a service (CPaaS) market over the forecast period. This is attributed to rise in adoption of CPaaS in healthcare industry of the country for offering remote services to patients through supporting them in sending medical reports to the doctor for counselling and analysis, and booking appointments online.

·     Major players functioning in the Asia Pacific Communication Platform As A Service (Cpaas) Market are Ribbon Communications Operating Company, Inc., Voxbone, Amazon Connect, GENBAND, Alcatel-Lucent S.A, RingCentral Connect Platform, Infobip Ltd, Brightlink CPaaS Platform, TWILIO INC., MessageBird, Telesmart, Exotel, NTT Communications Corporation, Karix Mobile Pvt. Ltd, BroadSoft Japan KK, Callhippo, Nippon, Vcloudx Pte Ltd, Xoxzo Inc., and Plivo Inc.