Global CPAAS Market Size, Share, Growth Analysis, By Component(Software and Services.), By Enterprise Size(Small and Medium-Size Enterprises and Large Enterprises), By Industry(BFSI, Government) - Industry Forecast 2024-2031

Drivers

Growing Demand for Omni channel Marketing

• The requirement for the CPaaS market is raised by the rising demand for omni channel marketing among businesses to maintain and attract new clients. Customers must contact companies through a variety of various techniques in many various industries. 
• While some individuals prefer to practice text messaging, others favor live web chat and other popular audio services. All well-known communication platforms can be accessible simultaneously by using CPaaS. This business aims in direct contact with the consumers these platforms want to use.
• Increased Regulation of Personal Data across End-user Industries
  One of the causes for steady growth of the global CPaaS market is the regulatory and security issues surrounding user data. Due to the expanding stringent government restrictions around data usage and privacy-related issues, the widespread deployment of these communication systems has created substantial challenges for many sectors.

Restraints

Public Cloud Security Concerns

Data Leakage is one of the serious concerns in the CPAAS market 

• The public cloud has many advantages, but organizations should consider deeply before adopting it because of a number of safety problems. A multi-tenant environment defines the public cloud. As a consequence, security risks are constant. Multitenancy could allow a hacker to read the information or employ the disguise of another client to access the data. 
• The compliance standards that must be followed are also well recognized to organizations. As a consequence, considering that the vast majority of CPaaS solutions are deployed on the public cloud, security problems pertaining to the public cloud are expected to act as a restraint in the communication platform as a service (CPS) market.