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How Can Businesses Benefit from Using Communication Platforms as a Service?

For businesses seeking to remain competitive and connect with customers in today's fast-paced digital environment, effective communication is crucial. It has emerged as a revolutionary solution for enhancing communication capabilities across multiple channels through the use of Communication Platform as a Service (CPaaS).

Communication Platform-as-a-Service (CPaaS) Market Growth, Share, Analysis

According to a new report published by Allied Market Research, titled, “Communication Platform-as-a-Service (CPaaS) Market” was valued at $10.2 billion in 2021, and is estimated to reach $80.2 billion by 2031, growing at a CAGR of 23.1% from 2022 to 2031.

CPaaS Industry is a cybersecurity defense practice that aims to deceive attackers by distributing a collection of traps and decoys across a system’s infrastructure to imitate genuine assets. The aim of communication platform as a service is to prevent a cybercriminal that has managed to infiltrate a network from doing any significant damage.

Furthermore, growing trend of mobility and BYOD as well as demand for personalized and streamlined customer interaction to achieve high customer satisfaction is boosting the growth of the global CPaaS market. In addition, increase in use of chat bot sales in communication platform as a service positively impacts the growth of the communication platform-as-a-service market. However, internet bandwidth & technical glitch issues and increasing security concerns are hampering the communication platform-as-a-service market growth. On the contrary, increase in use of technological advancement is expected to offer remunerative opportunities for expansion during the communication platform-as-a-service market forecast.

Depending on enterprise size, the large enterprise segment holds the largest communication platform-as-a-service market share as large enterprises are adopting communication platform as a service to protect all their infrastructures. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to increase adoption of cloud computing in the past few years.

Region-wise, the communication platform-as-a-service market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to, increase demand for sophisticated communication platform technologies. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increasing government investments in digital transformation.

The CPaaS market size has witnessed stable growth during the COVID-19 pandemic, owing to rise in demand for digital support, fraud detection solutions, and various other solutions during the pandemic situation. In addition, the COVID-19 pandemic has resulted in changes in model performance, as more continuous monitoring and validation is required to mitigate various types of risks, compared to static validation and testing methods, which, in turn, drive the development of advanced machine learning models. In addition, with rapid digital transformation, various governments have introduced stringent regulations to protect end users data such as General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). However, COVID-19 pandemic is making it even harder for larger companies to keep pace, and even more difficult for midsize and smaller companies to adopt AI and cloud technologies, owing to long development timelines and high investment requirements. 

Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/47844

In addition, with the pandemic eventually receding, sales and service organizations will have to continue accommodating new attitudes and behaviors and take immediate action to meet customer expectations in the post-crisis era. Furthermore, the telecom sector, in particular, is playing a vital role across the globe to support the digital infrastructure of countries amid the COVID-19 pandemic. For instance, according to Fujitsu’s Global Digital Transformation Survey in 2021, offline organizations were damaged more, while online organizations witnessed growth in online demand and an increase in revenue. 69% of the business leaders from online organizations have indicated that they witnessed an increase in their business revenue in 2020. In contrast, 53% of offline organizations saw a drop in revenues. Furthermore, technologies such as IoT, chatbots, and other voice assistants collate massive volume of data to generate significant insights, which can provide cost-saving opportunities, thus propelling the growth of the market. Moreover, investments in deep learning is becoming popular day-by-day, owing to increase in attention toward data to help organizations to find out the future performance of the firm to take corrective measures at an early stage in case of any probable crisis in future, which, in turn, is contributing toward the growth of the market. Furthermore, algorithms used for getting meaningful insights from real-time and historical data are helping enterprises in handling various critical issues related to customer insights during the COVID-19 pandemic, which is driving the growth of the market. With the rapid spread of COVID-19, majority of people faced sudden surges in demand for financial resources, owing to sudden increase in panic among public, which, in turn, increased the number of transactions performed at a time. This, in turn, augmented the demand for AI and advanced technology in customer engagement solution to smoothly regulate the delay. Thus, these are the factors driving the growth of the market during COVID-19 pandemic.

KEY FINDINGS OF THE STUDY

By enterprise size, the large enterprise segment accounted for the largest communication platform as a service market share in 2021.

Region wise, North America generated highest revenue in 2021.

Depending on component, the solution segment generated the highest revenue in 2021.

The key players profiled in the communication platform-as-a-service market analysis are are Accenture, 8x8 Inc., ALE International, Avaya Inc., Bandwidth Inc., Infobip Ltd., IntelePeer Cloud Communications LLC, Plivo Inc., Sinch, Twilio Inc., and Vonage America, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the communication platform-as-a-service industry.

About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

UCaaS, CCaaS and CPaaS

Overview

UCaaS, CCaaS,and CPaaS are all fall into the cloud communication categories. As a subdivision of cloud service, cloud communication achieves voice and data communication functions based on Internet cloud service. Its core value lies in the realization of professional division of labor, so as to improve efficiency and save cost for enterprises. Accordingly, UCaaS, CCaaS, and CPaaS, these service options available to businesses, offer specialized solutions to meet the varied communication needs of organizations and enterprises.

Concept and Definition

· UCaaS: Unified Communications as a Service is a cloud delivery model that brings together apps and services like call, chat, video and audio conferencing into a single interface or platform. · CCaaS: Contact Center as a Service is a customer experience solution that provides the capabilities required to route inbound customer interactions to call center agents. · CPaaS: Communication Platform as a Service is a cloud-based platform that enables developers to add real-time communications features to their own applications without needing to build backend infrastructure and interfaces.

More Infomation

UCaaS is primarily geared towards to internal communication and collaboration scenarios within the enterprise. Specific functions include office phone calls, audio and video conferencing, team messaging, etc. UCaaS is an integrated service of Internet and telecom. Therefore, service providers include IT service giants such as Microsoft and Google, professional communication service providers such as Zoom and Cisco, as well as basic telecom operators such as Verizon, Orange and AT&T.

CCaaS is mainly for enterprise external communication. There are two typical business scenarios - Telemarketing/Telesales and Customer Service. The former one is generally for outbound calls; the latter is for inbound calls and also includes outbound calls. The vendors of CCaaS build different products on APIs (Application Programming Interfaces) that work across several operating systems and Internet browsers. The service providers generally focus on offering companies enough capacity and tools to handle and manage customer interactions, queries, and service/support cases easily.

CPaaS is a cloud communication product service in the form of PaaS (Platform as a Service). Its core is the API encapsulation and cloudization of the operator's communication capabilities. CPaaS is not directly tailored towards end users, but to applications (app developers), providing services in the form of APIs or SDKs (Software Development Kit). This platform is an extension of both UCaaS and CCaaS. It allows companies to add various communication features to their existing applications. CPaaS vendors provide users with different APIs and code snippets to add to the environments of the cloud-based platforms.

Simply speaking, UCaaS can be compared to a fully furnished and modernized house, offering a comprehensive and integrated communication experience. CCaaS, on the other hand, resembles a barebones house, providing the essential functionalities of a call center but requiring further customization. Lastly, CPaaS serves as the building materials, offering developers the foundational components to construct customized communication solutions according to their specific needs. Just as different houses cater to varying preferences and requirements, these communication services cater to the diverse needs of businesses and developers, empowering them with efficient and flexible communication capabilities. Whether you're seeking a turnkey solution, a basic framework, or the tools to build your own platform, UCaaS, CCaaS and CPaaS are here to transform the way we communicate and collaborate in the digital age.

Source: https://www.iplook.com/info/ucaas-ccaas-and-cpaas-i00340i1.html

Catch Anurag Aggarwal, Vice President - Partnerships & Alliances in an exclusive interview with MEF TV, as he talks about Wisely, our blockchain-based platform and our vision for the next phase of CPaaS.

Businesses are increasingly making their presence on channels where their customers are present to establish real-time communication.

As a business, you would love to know that your customers are widely present on WhatsApp, with an average user spending as much as 19.4 hours per month on WhatsApp. More than 100 countries have WhatsApp as the leading messaging app and 50 million business use WhatsApp business APIs for customer reach-outs.

WhatsApp works incessantly to roll out new features that engage its users more effectively. Though WhatsApp chat and call are the most commonly used features, the users also prefer sending texts, images, GIFs, and videos that enrich the communication experience.

IntelePeer, a leading Communications Automation Platform and Communications Platform-as-a-Service (CPaaS) provider, is pleased to announce it was highlighted as a leading provider in the recent Aragon Research Research Note on Communications Automation Platforms (CAP). The acknowledgment is a significant milestone for IntelePeer’s platform and automation tools in this emerging CPaaS category.

WhatsApp Business Templates by EnableX WhatsApp Business API offer a convenient and efficient way for businesses to communicate with their customers through WhatsApp.

These WhatsApp Business templates are pre-designed and customizable, allowing businesses to quickly send messages that are both informative and engaging.

CPaaS Integration: A Guide to Better Customer Service

Business owners who want to thrive in a competitive market need to provide exceptional customer service in today's digital age. Businesses have access to powerful tools that enable seamless communication with customers across multiple channels with the rise of Communication Platform as a Service (CPaaS) solutions.

Learn about CPaaS and how it allows businesses and developers to integrate communication features into existing apps. Find here how it differs from UCaaS and CCaaS.

What to expect at the Tanla Hub at MWC 2023

Hola!

Less than 20 days to go and that means we are all set to interact with our customers and partners at MWC 2023.

As one of the world’s largest CPaaS players, processing more than 800 billion interactions annually and about 63% of India’s A2P SMS traffic, we are super proud to present our latest offering in the ecosystem to counter the challenge of smishing.

Visit us from February 27th to March 2nd in Congress Square, CS50.

The first day at MWC will be action-packed for Team Tanla as we unveil our latest innovation.

The Challenge

Phishing is a type of social engineering designed to trick victims into revealing sensitive information often resulting in huge financial losses -

In 2021, ~293 Mn scam reports were filed worldwide with global losses of ~ USD 55 Bn; (Per the Global State of Scams Report 2022 — GASA). The global penetration of mobile devices coupled with low SMS and data costs has led to SMS and WhatsApp becoming major channels for phishing. Scammers have also become faster and smarter — they are continuously evolving new smishing patterns and URLs/phone numbers (85–90% of all smishing CTA’s) making it difficult to contain the menace by acting on a reactive basis. (Only 10% of URLs are repeated for 2+ days, with some expiring in 2 hrs.)

To address this challenge effectively, we are excited to launch a first-of-its-kind “Anti-Smishing” solution; an AI/ML-based solution targeted to improving digital security. Our solution aims to proactively identify, prevent, and eliminate SMS phishing to protect end-consumers.

Introducing the world’s first Anti-Smishing solution at MWC: Wisely ATP

A keynote address on the global perspectives on Phishing will be followed by the unveiling of our revolutionary solution on the first day of MWC 2023.

Connect with our teams at the Tanla Hub to explore the gamut of offerings we bring in the space of commercial communications:

Wisely: Platform of Platforms for digital interactions

Wisely our flagship platform delivers distinctive user experiences with best-in-class business outcomes. The solution provides effective & efficient operations with state-of-the-art compliance. Meet our teams in the Tanla Hub at MWC to see the power of this unique platform.

Integrated Proposition

Our suite of products and solutions is tailor-made for delivering high business impact.

Explore our tailor-made products and solutions with a state-of-the-art tech stack across the communication journey.

Communicate: Omnichannel interactions with customers across multiple channels and partners.

SMS, Truecaller, Email, Voice. Kore.aI

Engage: Acquiring, cross-selling, and retaining customers via targeted propositions.

Gamooga

And other Solutions

We look forward to seeing you in Barcelona!

Schedule you’re meeting with Tanla at https://www.tanla.com/mwc2023/.

CPaaS a technology that empowers the financial sector.