According to 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 accounted for USD 4205.20 million in 2020 and is estimated to register considerable growth by the year 2026.
Technology-driven investments coupled with increasing demand for cloud-based business tools and services are some of the major factors driving the growth of the global C-PaaS (Platform as a Service) market. In this modern digital world, consumers have been on the lookout for better ways of engaging and collaborating amidst growing popularity of the work from home model.
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The platform has now emerged as a critical tool for digital real-time communication across various industries and rescuing businesses from having to spend heavily on backend infrastructure and interfaces.
Surging investments in technology-driven solutions as well as in machine learning, artificial intelligence, internet of things, digitization, and automation are also stimulating the overall industry outlook. Growing demand for advanced broadband networks amidst the work-from-home trends and increasing utilization of cloud-based business continuity tools are also adding traction to global C-PaaS market size.
Citing the end-user terrain, the market is split into education services, healthcare, retail & e-commerce, IT & Telecom, and others.
By type, the industry is categorized into data (messaging), voice, and video segments. In terms of enterprise size, the market is classified into large and SME.
The geographical analysis of this business regionally extends to Europe, North America, Latin America and Middle East & Africa, and the Asia Pacific, while country-wise segmentation involves the United States, United Kingdom, Canada, India, Germany, and China.
The competitive landscape of the global C-PaaS market is defined by companies such as MessageBird, Twilio, Agora Inc., Zoom Video Communications Inc., Vonage Holdings Corp., Bandwidth Inc., 8x8 Inc., Slack Technologies LLC, Sinch, RingCentral Inc., and Soprano Design Pty. Ltd.