Metrigy’s MetriRank study evaluates leading CPaaS providers on a fixed set of criteria to assess which are best positioned to succeed in the long term.
November 26, 2024 – Research and advisory firm Metrigy released its CPaaS MetriRank 2024 report, identifying the Top 10 providers leading the market today and best positioned for long-term success. Twilio has earned top ranking, based on market share, financials, market share momentum, product mix, customer sentiment, and customer business success.
“Twilio is the leader in our second-annual CPaaS MetriRank report, number one in market share and achieving the highest possible scores in product mix, customer sentiment, and customer business success. Also notable is Twilio’s improved scoring in financial strength, attributable to the company’s focus on improving profitability-associated metrics with strong financial discipline, operating rigor, and innovation,” said Diane Myers, senior research director and principal analyst responsible for Metrigy’s MetriRank reports as well as market share and forecasting.
“Rising to the top of the CPaaS MetriRank requires the right mix of features and capabilities, with AI continuing to be a significant factor in differentiating providers this year as it was last year. In 2024, we’ve also seen providers setting themselves apart in two additional areas: Rich Communication Services and network APIs,” said Beth Schultz, VP of research and principal analyst for Metrigy’s CPaaS research.
Metrigy 2024 CPaaS MetriRank Highlights
- Following Twilio in the rankings are: Infobip, Cisco, Vonage, and Sinch
- Rounding out the CPaaS MetriRank leaders are (in alphabetical order): Bandwidth, Bird, LINK Mobility, Route Mobile, and Tata Communications
- CPaaS providers that did not make the 2024 ranking but are on Metrigy’s watchlist are: Alibaba, 8×8, Gupshup, Plivo, Tanla Platforms, and Tencent.
Metrigy defines CPaaS as a development platform or no-code/low-code solution for communications functions such as click-to-call and SMS messaging for appointment scheduling or notifications. CPaaS includes and relies upon APIs and software development kits to integrate or develop new applications. CPaaS platforms must be highly flexible, capable of scaling to varying transaction volumes that could reach into the millions, or even billions, of interactions while also allowing customized customer engagement. And they must support advanced capabilities, including AI, analytics, and automation.
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.
The full report, including all of our methodology, scoring, a deep-dive profile on each provider, and much more, is available for purchase. If you are interested in Metrigy’s CPaaS MetriRank study, please reach out to sales@metrigy.com.
