A new study from Juniper Research finds the CPaaS (Communications Platform-as-a-Service) revenue generated in North America will reach $15 billion by 2026; rising from $3.7 billion in 2021. It found that significant demand for mobile channels, such as SMS and mobile voice, from enterprises has created a highly attractive market for CPaaS vendors. CPaaS platforms offer a centralized service for outbound communications.
The research predicts this growth will drive investment from leading CPaaS vendors into the North American region. In turn, the region is anticipated to represent 45 percent of global CPaaS market value by 2026, despite only accounting for 5 percent of global mobile subscribers.
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The new study, CPaaS: Future Market Outlook & Emerging Opportunities 2021-2026, urges CPaaS platforms to invest in AI-based conversational messaging functionality to capitalize on this growth. It anticipates that enabling mobile subscribers to buy digital and physical goods through the native messaging client will further increase the appeal of a vendor’s platform.
CPaaS vendors must then capitalize on the growth of mobile messaging via revenue-sharing agreements that allocate a proportion of commerce sales to their platforms as revenue. To maximize this new revenue channel, the report suggests that CPaaS vendors prioritize the onboarding of key eCommerce retailers in the United States and ensure that payment details are stored securely.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.