The Asia Pacific region is witnessing rapid digital transformation and has become one of the fastest growing regions for communication platform as a service. CPaaS solutions offer reliable and cost-effective communication services to enterprises enabling them to easily integrate voice, video, SMS and other omni-channel communications into their applications and workflows. The CPaaS market in the region is fueled by increasing adoption of cloud-based services, mobile penetration and internet subscription. With advancements in technologies like artificial intelligence and internet of things, the need for managing communication across various channels has increased tremendously. The global Asia Pacific Communication Platform As A Service Market is estimated to be valued at US$ 2136.93 Mn in 2023 and is expected to exhibit a CAGR of 45.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key drivers for growth in the APAC CPaaS market is rapid digitalization. Countries in the region are witnessing tremendous growth in internet penetration and mobile subscription which has accelerated digital transformation of enterprises. According to reports, the number of internet users in APAC is expected to reach over 3 billion by 2025. In addition, enterprises are also increasingly adopting cloud-based solutions to improve collaboration and communication. CPaaS is benefiting from this trend as it provides unified and intelligent communication tools in the cloud without any upfront infrastructure cost. Major CPaaS vendors are launching innovative solutions integrated with AI and analytics to offer personalized omnichannel customer engagement. This is further amplifying their adoption. Increased focus on digital customer experience management will continue to create growth opportunities for CPaaS providers in the region.
Segment Analysis
The Asia Pacific communication platform as a service (CPaaS) market is dominated by voice and messaging segments. The messaging segment holds the largest share as messaging services form an integral part of any communication service and are cost-effective. Messaging services allow customers to receive and send text, image, and video messages globally with ease, thus boosting the growth of this segment.
Key Takeaways
The Asia Pacific Communication Platform As A Service Market size is expected to witness high growth. The APAC region is growing at the fastest pace on account of rapid digitalization and increasing adoption of advanced technologies across industries in emerging countries such as China, India, and South Korea.
Regional analysis
The Asia Pacific region is dominating the global CPaaS market and is expected to continue its dominance over the forecast period. Rapid economic growth, increasing internet and smartphone penetration, expanding workforce, and growing adoption of SaaS and cloud-based solutions across industry verticals are some major factors driving the APAC CPaaS market. China, Japan, and India hold the largest shares in the regional market due to the presence of major players and increased focus on technological innovation.
Key players
Key players operating in the Asia Pacific Communication Platform As A Service market are 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. Twilio and Infobip have emerged as the dominating players owing to their wide service portfolio and global presence.
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