CPaaS market to exceed $5 billion in 2021

2021-09-01 03:00

Data from Synergy Research Group shows the CPaaS market continues to demonstrate strong market growth.

The latest 2Q 2021 market share report shows CPaaS market grew over 40% worldwide with Twilio maintaining its number one market share ranking.

Synergy has measured sevenfold market growth for the CPaaS market over the last 18 quarters.

While Twilio is the clear worldwide market share leader, vendors like Vonage, Sinch, bandwidth, MessageBird, and 8×8 have stronger market share positions across the regional markets driven by their successful focus on areas of local expertise.

The CPaaS market is on track to exceed $5B in 2021 with each of the major four regions driving the strong growth.

In 2Q 21, APAC clocked the fastest y/y growth exceeding 55%. "Today the primary application for CPaaS is consumer based SMS, providing transactional connectivity between mobile devices and emerging cloud services. We believe the technology is poised to provide significant enhancements to business communications and sophisticated customer service applications, driving this market to the $14B mark by 2025.".

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Related vendor

VENDOR	LAST 12M	#/PRODUCTS	LOW	MEDIUM	HIGH	CRITICAL	TOTAL VULNS
Billion		4	1	0	2	7	10