May 11, 2022
As per the research report titled ‘Global C-PaaS (Platform as a Service) Market - Analysis By End User, Type, Enterprise Size, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global C-PaaS (Platform as a Service) market which held a valuation of USD 4205.20 million in 2020 is expected to accumulate strong returns by 2026.
Penetration of new technologies like artificial intelligence, digitalization, automation, and machine learning, combined with the pervasiveness of work-from-home models are the factors aiding the augmentation of global C-PaaS (Platform as a Service) market.
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For the unversed, C-PaaS (Platform as a Service) boasts of a particular feature that focuses on integrating real-time communication features which includes voice, text, and video within a single platform, thereby minimizing additional expenditure on a separate backend infrastructure or interface. The service is an indispensable aid to digital transformation as it allows users to enjoy an omnichannel experience for real-time communication solution.
The outbreak of the Covid-19 pandemic has catalyzed the growth of global C-PaaS (Platform as a Service) market in the sense that lockdown mandates across the globe have resulted in a ten-fold rise in the demand for cloud-based business continuity services and public cloud-based domains to meet immediate business objectives. In addition, increased expenditure by major firms to develop a robust cloud platform in the wake of the pandemic is another factor aiding solution uptake during the analysis timeframe.
For the purpose of a comprehensive assessment, the industry is bifurcated in terms of type, enterprise size, end-user, and regional terrain. Current trends, renumeration scope and growth prospects of each sub-market are extensively discussed in the report to ensure a smoother decision-making process on the part of the stakeholders.
The competitive framework of the global C-PaaS (Platform as a Service) marketplace is majorly influenced by key players such as MessageBird, Soprano Design Ltd., Zoom Video Communications Inc., Bandwidth Inc., Vonage Holdings Corp., Twilio, RingCentral Inc., Agora Inc., Slack Technologies Inc., 8x8 Inc., and Sinch.