Communication platform as a service (CPaaS) provides APIs and basic infrastructure to allow developers to integrate voice, video and messaging functionality into their applications, without numerous complexities associated with building and maintaining infrastructure. CPaaS provides various features such as video communication, VoIP, SMS, chatbots, web and mobile communication interfaces. The rising adoption of cloud-based telephony solutions as companies move calling solutions to the cloud for increased flexibility and scalability is augmenting the growth of APAC CPaaS market.
Key Takeaways
Key players operating in the Asia Pacific Communication Platform As A Service are CMP Resolutions, The Resolution Group, ADR Solutions, Milestone Mediation Group LLC, Mediation Works Incorporated, Commonwealth Mediation Group, Parivartan Conflict Management Services, Korb Mediation LLC, A Better Way Mediation, New Mediation. These players are focusing on developing new and enhanced CPaaS solutions to cater to the growing demand from various industries.
Key opportunities in the market include growing penetration of CPaaS solutions among small and medium enterprises owing to benefits such as low costs and scalability. Additionally, increasing demand for real-time communication interfaces from various end-use industries such as retail, healthcare, BFSI is expected to present significant growth opportunities for market players during the forecast period.
Asia Pacific region is witnessing significant expansion of global CPaaS providers aiming to tap the growth opportunities in emerging economies. Established players are also focusing on strategic acquisitions of regional players to strengthen their presence across Asia Pacific countries and capture larger market share.
Market drivers include growing adoption of cloud-based communication solutions owing to benefits such as scalability, flexibility and lower costs of operations. High proliferation of smart connected devices and growing internet penetration are facilitating the adoption of CPaaS solutions.
Market restraints include data privacy and security concerns associated with adoption of cloud-based communication platforms. Legal and regulatory challenges pertaining to cross-border communication and lack of expertise and technical skills required for managing cloud communication interfaces may also hamper the market growth to an extent.
Segment Analysis
The Asia Pacific Communication Platform As A Service Market Growth is dominated by the large enterprises sub segment. Large enterprises have higher budgets and resources to invest in advancing their technological infrastructure. They are also early adopters of the latest business tools and services as it allows them to gain significant competitive advantages. Communication PaaS solutions provide large enterprises with unified and streamlined communication platforms to effectively engage with their large customer and employee bases spread across disparate geographical locations.
The small and medium enterprises sub segment is also growing steadily as Communication PaaS solutions allow them to communicate and collaborate like large enterprises without heavy upfront investments or maintenance costs of in-house infrastructure. This makes Communication PaaS attractive for cash strapped SMEs.
Global Analysis
On the regional front, China is currently the fastest growing and largest region in the Asia Pacific Communication Platform As A Service Market. This can be attributed to factors like the huge population base, rapid digitization of business landscape in the country and strong government support for technological innovation. The presence of major tech giants and adoption of cloud services by enterprises is also propelling the Communication PaaS market in China. Other high potential regions include Japan and India owing to growing startup culture, expansion of MNCs and increasing internet and smartphone penetration rates. The development of 5G infrastructure and focus on new age technologies like AI will further stimulate the demand for Communication PaaS solutions across the Asia Pacific region over the forecast period.
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