For companies looking to differentiate on customer experience, Communications Platform as a Service (CPaaS) continues to be a go-to technology for enabling everything from a wide array of interaction channels to advanced AI services and automation and customized integrations. This has led to a high level of adoption, with 85% of the 1,566 companies studied in Metrigy’s
Customer Experience MetriCast 2024 research either using, planning to use in the short term, or evaluating CPaaS for their go-forward strategies.
Even with a high level of adoption, the CPaaS market is far from saturated—and remains highly competitive. Once a business begins using CPaaS for one use case, expansion isn’t uncommon as they realize they can use a programmatic approach to reap similar value across business units, product lines, or geographies. They may use the same provider, or perhaps another.
Metrigy provides guidance on leading CPaaS players in its annual CPaaS MetriRank report, now available for 2024 for subscribers of our MetriCast Service.
For the report, we determined the top 10 CPaaS providers by market share, and then assessed those providers on a fixed set of five criteria: financial strength, market share momentum, product mix, customer sentiment, and customer business success. We use this assessment to determine which providers are best positioned today and for long-term success. We rated each CPaaS provider in each of the five areas on a five-point scale, and then applied a weighting. Lastly, we tallied the individual criteria scores for each provider to determine their overall leadership score.
In this, our second-annual CPaaS MetriRank report, Twilio takes the top spot. Not only is Twilio the undisputed market share leader, it has achieved the highest possible scores in product mix, customer sentiment, and customer business success. Additionally, Twilio’s financial score improved considerably from 2023 to 2024, attributable to the company’s focus on improving profitability-associated metrics with strong financial discipline, operating rigor, and innovation.
Rounding out the top five are Infobip, Cisco, Vonage, and Sinch. Others in the ranking, in alphabetical order, are Bandwidth, Bird, LINK Mobility, Route Mobile, and Tata Communications.
Full details, including all of our methodology, scoring, and a deep dive on each provider, is available in the CPaaS MetriRank 2024 report. Click here to learn more.
