A new study from Juniper Research has found that the value of the CPaaS (Communications Platform-as-a-Service) market will reach $29 billion globally by 2025; rising from $16 billion in 2022.
To capitalise on this substantial growth of 80% over the next three years, the report, CPaaS: Market Outlook, Emerging Opportunities & Forecasts 2023-2027, urges CPaaS vendors to focus on the development of managed services over their platforms. These services must enable the creation and management of rich media content over channels such as OTT business messaging, email and social media.
For more insights, download their free whitepaper, Moving Beyond SMS: How CPaaS Will Evolve in 2023