The global value of the CPaaS market will exceed $10 billion for the first time next year; rising from $8.6 billion in 2021.
This represents a growth of 17% year-on-year, says Juniper Research, who conducted the findings.
To capitalise on this remarkable growth, the research predicts CPaaS vendors will seek to further differentiate their services by integrating novel solutions directly into their service platforms.
The new study, CPaaS: Future Market Outlook & Emerging Opportunities 2021-2026, urges platform vendors to expand their range of value-added services to achieve this differentiation. The research identified the development of CDPs (customer data platforms) as a key service that will increase the significance of a CPaaS platform by providing actionable insights into end-user preferences, such as contact time, contact channel and upselling opportunities.
In turn, brands and enterprises using CPaaS platforms will enhance the value of mobile communications by automatically contacting users over preferred channels at preferred times.
Research author Sam Barker said: “CDPs are an important step in creating differentiation in an increasingly saturated CPaaS market.
“As traffic over rich media channels increases, CDPs will enable brands and enterprises to tailor communications at a user level; creating a compelling and convenient experience for mobile subscribers.”
The news follows a busy month of CPaaS news, most notably the integration of Avaya and Microsoft Azure.
Avaya announced a strategic relationship with Microsoft to create a powerful set of joint cloud communications solutions to define the future of customer and employee experience.
The joint solutions, which will benefit from the complementary strengths of both companies, include Avaya’s award-winning Avaya OneCloud CPaaS now integrated with voice, video, chat and SMS capabilities of Microsoft Azure Communication Services for combined global reach, scale and functionality.
This relationship with Microsoft is a key element of Avaya’s strategic partner ecosystem, leveraging extensive collaboration with leading cloud, technology and channel partners to provide flexible, composable solutions with leading-edge innovation for our customers.
Anthony Bartolo, Executive Vice President and Chief Product Officer, Avaya, said: “Avaya and Microsoft are responding to our customers who have asked us to deliver more integrated experiences for Avaya OneCloud Contact Centre running in Microsoft Azure and Microsoft 365.
“Together we are providing true integration, spanning not just the contact centre application itself but also the underlying communication platforms. Additionally we will be implementing Microsoft’s powerful AI capabilities via Azure Cognitive Services.”
