Communication Platform As A Service (CPaas) Market Worth $100.9 Billion By 2030: Grand View Research, Inc.
SAN FRANCISCO, Jan. 25, 2023 /PRNewswire/ -- The global communication platform as a service market size is anticipated to reach USD 100.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 31.1% from 2022 to 2030. The demand for communication platforms as a service (CPaaS) is expected to grow owing to the growing importance of CPaaS among enterprises for facilitating transactions, marketing, and customer support.
Key Industry Insights & Findings from the report:
Read 100 page market research report, "Communication Platform As A Service Market Size, Share & Trends Analysis Report By Component, By Enterprise Size (Large Enterprise, SMEs), By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Communication Platform As A Service Market Growth & Trends
The COVID-19 pandemic had a positive impact on the communication platform as a service (CPaaS) market. The use of CPaaS in the healthcare and retail & e-commerce industry increased significantly during the pandemic. CPaaS assists healthcare organizations in the gathering of patient data and the deliver of community-related information, whereas two-factor authentication (2FA) with a one-time password validates patient and caregiver identities during online interactions such as video communications and telehealth. These systems can be immediately deployed in time-critical scenarios in which clinics, doctors, and other caregivers need to reach patients or potential patients remotely and securely.
Web Real-Time Communication (WebRTC) enables CPaaS providers to diversify their product portfolios in their primary markets. Starting with video conferencing templates that allow for an unlimited number of users to join at once, regardless of their location. These video conferencing templates can also enable interactive video communications for events like massive company meetings that involve thousands of remote employees, executive sessions with investors, spontaneous collaborations, and the press and the public at large.
Communication Platform As A Service Market Segmentation
Grand View Research has segmented the communication platform as a service market based on component, enterprise size, end-use, and region:
Communication Platform As A Service Market - Component Outlook (Revenue, USD Million, 2017 - 2030)
Communication Platform As A Service Market - Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
Communication Platform As A Service Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)
Communication Platform As A Service Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players of the Communication Platform As A Service Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Communication Services Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc.
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