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Communication Platform As A Service Market Share

Report ID: GMI7161
Published Date: Apr 2024
Report Format: PDF

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Communication Platform As A Service Market Share

Players in the communication platform as a service industry focus on implementing different growth strategies to strengthen their offerings and expand their market reach. The strategies involve new product developments & launches, partnerships & collaborations, mergers & acquisitions, customer retentions, and others. These players are also heavily investing in their research & development to introduce innovative and technologically advanced solutions in the market.

Communication Platform As A Service Market Companies

Some of the major players operating in the industry are mentioned below:

Twilio
Vonage
Sinch
Bandwidth
AWS
Microsoft Azure
Google Cloud

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for communication platform as a service was USD 11.5 billion in 2023 and is expected to register over 21% CAGR from 2024-2032 owing to organizations, worldwide, increasingly leveraging cloud technology for their communication needs due to its flexibility, scalability, and cost-efficiency.

Communication platform as a service industry from the IT & telecom segment held 20% share in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to companies increasingly relying on CPaaS to enhance their customer engagement and service delivery.

North America industry recorded over 35% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to a large & diverse business landscape including tech giants, startups, and enterprises in the region.

Twilio, Vonage, Sinch, Bandwidth, AWS, Microsoft Azure, and Google Cloud, are some of the major communication platform as a service companies worldwide.