CPaaS market grew over 40 percent during the second quarter of 2021, according to Synergy Research Group.
Twilio maintained its number one market share ranking in CPaaS market with 38 percent share.
Synergy has measured sevenfold market growth for the CPaaS market over the last 18 quarters.
Vendors such as 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.
This is illustrated in the APAC region where Vonage is the #1 CPaaS vendor followed by Twilio and Sinch. CPaaS market is on track to exceed $5 billion in 2021 with each of the major four regions driving the strong growth. In 2Q 21, APAC clocked the fastest year-on-year growth exceeding 55 percent.
“Today the primary application for CPaaS is consumer-based SMS, providing transactional connectivity between mobile devices and emerging cloud services. The technology is poised to provide significant enhancements to business communications and sophisticated customer service applications, driving this market to the $14 billion mark by 2025,” said Fazil Balkaya, Principal Analyst at Synergy Research Group.