Communications Platform-as-a-Service MetriRank 2024

Published on: December 2, 2024

Authors: Diane Myers, Senior Research Director & Principal Analyst; Beth Schultz, Vice President of Research and Principal Analyst Metrigy’s global Customer Experience MetriCast 2024 study, conducted with 1,566 companies, finds that 67.7% are using or planning to use communications platform as a service (CPaaS) in 2024, enabling them to customize their customer experience (CX) offerings programmatically. Another 7.1% have plans to adopt CPaaS in 2025, and 10.5% are evaluating whether to adopt it. Only 10.4% of companies have no plans at all for CPaaS—underscoring the value companies see in using the technology to customize their customer engagement features and add cloud-based apps for improved CX. Using APIs offered by CPaaS providers, companies may add real-time, cloud-based communications channels, such as voice and video calling, messaging, and live chat, to their contact center platforms. They may also use CPaaS to introduce advanced functionality, such as analytics and artificial intelligence (AI); create customized integrations; or, via no- or low-code workflow builders, add in automation that eliminates tedious but important manual processes. In this CPaaS MetriRank report, Metrigy examines the leading providers. The global market for CPaaS was $13.6 billion in 2023, up 19% year-over-year. Metrigy forecasts the market to grow at an 11% CAGR from 2023 to 2028, reaching $22.5 billion by 2028. The CPaaS market is highly competitive, with providers of varying sizes, capabilities, and reach—some are global, and others are regional. Some providers are large and have broad portfolios—even providing full stacks for customer engagement and/or marketing automation—and others are smaller, with niche API offerings. In determining companies in the CPaaS MetriRank, market share is important to overall leadership score, but financial strength, product mix, and customer sentiment are significant at setting providers apart in the rankings. Having the right mix of features and capabilities is critical, although most of the top-tier providers share common capabilities today.
Table of Contents
  • Executive Summary
  • About the Study
  • CPaaS Leadership
    • Top Providers
    • Providers to Watch
  • CCaaS Provider Profiles
    • Twilio
    • Infobip
    • Cisco
    • Vonage
    • Sinch
    • LINK Mobility
    • Bird
    • Route Mobile
    • Tata Communications
    • Bandwidth
  • Appendix
    • Methodology
    • Leadership Metric Definitions
    • Further Reading
  • Working With Metrigy


You are currently viewing a preview of this content. Metrigy clients, please log in for full access to all research content. If you are not a client, please click below to purchase access to this research report. We also invite you to become a client.

 


Purchase Access

$15,000.00

Related products