The "Global CPaaS Market: 2024-2028" report has been added to ResearchAndMarkets.com's offering.

The Communications Platform-as-a-Service (CPaaS) industry is currently experiencing an unprecedented surge, set to significantly impact digital communication channels across diverse sectors.

According to the latest comprehensive analysis, the global CPaaS market is anticipated to expand from $28 billion in 2024 to a staggering $58 billion by the end of 2028. This robust growth, calculated at 102% over the four-year period, outlines the critical importance of CPaaS solutions in the evolving digital landscape.

Key Drivers and Market Trends

The report investigates several key factors fuelling the market's expansion, such as the rise of Artificially Inflated Traffic (AIT), SMS Trashing Fraud, and the adoption of API-based service provisioning. Additionally, the market is set to be shaped by innovative advancements in Generative AI for mobile marketing, increased utilization of Conversational Commerce & AI, impending RCS support on Apple iOS devices, growing international A2P SMS termination rates, and the adoption of Mobile Identity in CPaaS services.

Industry Forecasts and Regional Analysis

This extensive research provides forecasts for various CPaaS communication channels, including:

• Email
• In-app Push Notifications
• MMS
• Mobile & Online Browsing Chatbots
• RCS Business Messaging
• Social Media
• SMS
• OTT Business Messaging
• Video Services
• Voice Services

In conjunction with this, a detailed regional analysis and an outline of six key vertical markets - Banking, Government & Public Services, Healthcare, Ticketing, Travel & Tourism, and Retail & eCommerce - are discussed, highlighting the industry's broad-reaching implications and the diverse utilization of CPaaS solutions.

Competitive Outlook and Country Readiness

A noteworthy component of the analysis is the Competitor Leaderboard, which assesses product offerings, strategic positioning, and the capabilities of 22 leading vendors in the CPaaS arena. Complementing this is the Country Readiness Index, examining the preparedness of 60 countries to adopt emergent CPaaS technologies such as generative AI and rich media messaging.

The global CPaaS market stands as a dynamic ecosystem with significant potential for impact across technologies and vertical markets.

The industry's rapid progression embodies the increasing need for robust, innovative communication solutions that can adapt to the evolving demands of businesses and consumers alike. With a comprehensive outlook and strategic analysis, this research underscores the pivotal role CPaaS is set to play in the near future of global digital communication.

For more information about this report visit https://www.researchandmarkets.com/r/pvfj1j

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240617778904/en/