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

CPAAS Market size was valued at USD 9.7 billion in 2021 and is poised to grow from USD 12.5 billion in 2022 to USD 97.51 billion by 2030, growing at a CAGR of 29.4% in the forecast period (2023-2030).

A growing number of end-user industries, including healthcare, retail, and manufacturing, demand network systems that are simple to maintain and allow efficient communication. Additionally, healthcare providers, who are frequently considered to have small IT budgets, expanded their adoption of affordable cloud-based solutions. Due to the subscription-based United Communication Services, healthcare contact centers may now quickly set up their PBX (Private Branch Exchange) systems and handle many customer requests from different sites.

The rapidly growing popularity of the BYOD trend and other mobility solutions is expected to increase the adoption of CPaaS solutions much more. Bring Your Own Device (BYOD) developed as a significant trend, increasing office productivity, in this new era of flexibility and network accessibility for employees globally for various firms.
Real-time communications are offered as communication platform-as-a-service via SMS, voice, video, text, and additional channels. The communication platform-as-a-service market is anticipated to be driven by businesses' growing focus on customer engagement. The adoption of CPaas is anticipated to increase as a result of advances in cloud technologies. Furthermore, industries are eager to invest in a variety of communication channels as industries face a digital transformation that will provide for digital customer interactions. Due to the increasing adoption, various key companies are increasing the range of communication platform products they provide.

US CPAAS Market is poised to grow at a sustainable CAGR for the next forcast year.