The Europe Communication Platform as a Service Market would witness market growth of 27.2% CAGR during the forecast period (2022-2028).
CPaaS adoption increases, more businesses are switching from on-premises communications to cloud platforms. However, there may be problems with data security with these systems. Inadequate security measures typically result in organizational issues and fraud assaults.
Retail and e-commerce businesses are using the solution significantly, creating a bright picture for the sector. Companies may increase customer engagement by using CPaaS to allow the integration of audio, video, and SMS communication into websites, mobile apps, and social media platforms.
Another development driver is the increasing desire for tailored suggestions that improve the shopping and customer service experiences across all channels. Using voice, virtual, and Chabot assistants to promote efficiency and productivity is promoting industrial development. Additionally, using AI and ML for call analytics, automation, agent augmentation, emotion analysis, and speech recognition accelerates market development.
Digitally aware banks aiming to move are increasingly thinking about API strategy 2.0. API strategy 2.0 is scalable from 10-100 public APIs to thousands of bundle-ready building components with consistency and uniformity (reusable business and IT capabilities defined as APIs and Services). Furthermore, in order to maximize the use of hard-to-find talent and expand the usage of APIs and services, both inside digital teams and to disclose existing capabilities, large banks are also increasing this portfolio of APIs and services. The communication platform as a service market is predicted to have growth prospects in Europe as a consequence of this continuous acceptance of API and its expanding use across the region.
The Germany market dominated the Europe Communication Platform as a Service Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,462.8 million by 2028. The UK market is anticipated to grow at a CAGR of 26.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 28.2% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Message, Video, Voice and Others. Based on Services Type, the market is segmented into Professional Services and Managed Services. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into Telecom & IT, BFSI, Retail & E-commerce, Government, Education, Manufacturing, Healthcare & Life Sciences and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include RingCentral, Inc, 8x8, Inc., Avaya Inc. (Avaya Holdings Corp.), Sinch AB, Twilio, Inc., Telesign (Proximus Group), Bandwidth, Inc, CM.com N.V., Vonage Holdings Corp. (Ericsson AB), and Infobip Ltd.
CPaaS adoption increases, more businesses are switching from on-premises communications to cloud platforms. However, there may be problems with data security with these systems. Inadequate security measures typically result in organizational issues and fraud assaults.
Retail and e-commerce businesses are using the solution significantly, creating a bright picture for the sector. Companies may increase customer engagement by using CPaaS to allow the integration of audio, video, and SMS communication into websites, mobile apps, and social media platforms.
Another development driver is the increasing desire for tailored suggestions that improve the shopping and customer service experiences across all channels. Using voice, virtual, and Chabot assistants to promote efficiency and productivity is promoting industrial development. Additionally, using AI and ML for call analytics, automation, agent augmentation, emotion analysis, and speech recognition accelerates market development.
Digitally aware banks aiming to move are increasingly thinking about API strategy 2.0. API strategy 2.0 is scalable from 10-100 public APIs to thousands of bundle-ready building components with consistency and uniformity (reusable business and IT capabilities defined as APIs and Services). Furthermore, in order to maximize the use of hard-to-find talent and expand the usage of APIs and services, both inside digital teams and to disclose existing capabilities, large banks are also increasing this portfolio of APIs and services. The communication platform as a service market is predicted to have growth prospects in Europe as a consequence of this continuous acceptance of API and its expanding use across the region.
The Germany market dominated the Europe Communication Platform as a Service Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,462.8 million by 2028. The UK market is anticipated to grow at a CAGR of 26.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 28.2% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Message, Video, Voice and Others. Based on Services Type, the market is segmented into Professional Services and Managed Services. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into Telecom & IT, BFSI, Retail & E-commerce, Government, Education, Manufacturing, Healthcare & Life Sciences and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include RingCentral, Inc, 8x8, Inc., Avaya Inc. (Avaya Holdings Corp.), Sinch AB, Twilio, Inc., Telesign (Proximus Group), Bandwidth, Inc, CM.com N.V., Vonage Holdings Corp. (Ericsson AB), and Infobip Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Message
- Video
- Voice
- Others
- Services
- Professional Services
- Managed Services
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Vertical
- Telecom & IT
- BFSI
- Retail & E-commerce
- Government
- Education
- Manufacturing
- Healthcare & Life Sciences
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- RingCentral, Inc
- 8x8, Inc
- Avaya Inc. (Avaya Holdings Corp.)
- Sinch AB
- Twilio, Inc
- Telesign (Proximus Group)
- Bandwidth, Inc
- CM.com N.V
- Vonage Holdings Corp. (Ericsson AB)
- Infobip Ltd
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Communication Platform as a Service Market, by Component
1.4.2 Europe Communication Platform as a Service Market, by Organization Size
1.4.3 Europe Communication Platform as a Service Market, by Vertical
1.4.4 Europe Communication Platform as a Service Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Acquisition and Mergers: 2018, Oct - 2022, Jul) Leading Players
Chapter 4. Europe Communication Platform as a Service Market by Component
4.1 Europe Solution Market by Country
4.2 Europe Communication Platform as a Service Market by Solution Type
4.2.1 Europe Message Market by Country
4.2.2 Europe Video Market by Country
4.2.3 Europe Voice Market by Country
4.2.4 Europe Others Market by Country
4.3 Europe Services Market by Country
4.4 Europe Communication Platform as a Service Market by Services Type
4.4.1 Europe Professional Services Market by Country
4.4.2 Europe Managed Services Market by Country
Chapter 5. Europe Communication Platform as a Service Market by Organization Size
5.1 Europe Large Enterprises Market by Country
5.2 Europe Small & Medium Enterprises (SMEs) Market by Country
Chapter 6. Europe Communication Platform as a Service Market by Vertical
6.1 Europe Telecom & IT Market by Country
6.2 Europe BFSI Market by Country
6.3 Europe Retail & E-commerce Market by Country
6.4 Europe Government Market by Country
6.5 Europe Education Market by Country
6.6 Europe Manufacturing Market by Country
6.7 Europe Healthcare & Life Sciences Market by Country
6.8 Europe Others Market by Country
Chapter 7. Europe Communication Platform as a Service Market by Country
7.1 Germany Communication Platform as a Service Market
7.1.1 Germany Communication Platform as a Service Market by Component
7.1.1.1 Germany Communication Platform as a Service Market by Solution Type
7.1.1.2 Germany Communication Platform as a Service Market by Services Type
7.1.2 Germany Communication Platform as a Service Market by Organization Size
7.1.3 Germany Communication Platform as a Service Market by Vertical
7.2 UK Communication Platform as a Service Market
7.2.1 UK Communication Platform as a Service Market by Component
7.2.1.1 UK Communication Platform as a Service Market by Solution Type
7.2.1.2 UK Communication Platform as a Service Market by Services Type
7.2.2 UK Communication Platform as a Service Market by Organization Size
7.2.3 UK Communication Platform as a Service Market by Vertical
7.3 France Communication Platform as a Service Market
7.3.1 France Communication Platform as a Service Market by Component
7.3.1.1 France Communication Platform as a Service Market by Solution Type
7.3.1.2 France Communication Platform as a Service Market by Services Type
7.3.2 France Communication Platform as a Service Market by Organization Size
7.3.3 France Communication Platform as a Service Market by Vertical
7.4 Russia Communication Platform as a Service Market
7.4.1 Russia Communication Platform as a Service Market by Component
7.4.1.1 Russia Communication Platform as a Service Market by Solution Type
7.4.1.2 Russia Communication Platform as a Service Market by Services Type
7.4.2 Russia Communication Platform as a Service Market by Organization Size
7.4.3 Russia Communication Platform as a Service Market by Vertical
7.5 Spain Communication Platform as a Service Market
7.5.1 Spain Communication Platform as a Service Market by Component
7.5.1.1 Spain Communication Platform as a Service Market by Solution Type
7.5.1.2 Spain Communication Platform as a Service Market by Services Type
7.5.2 Spain Communication Platform as a Service Market by Organization Size
7.5.3 Spain Communication Platform as a Service Market by Vertical
7.6 Italy Communication Platform as a Service Market
7.6.1 Italy Communication Platform as a Service Market by Component
7.6.1.1 Italy Communication Platform as a Service Market by Solution Type
7.6.1.2 Italy Communication Platform as a Service Market by Services Type
7.6.2 Italy Communication Platform as a Service Market by Organization Size
7.6.3 Italy Communication Platform as a Service Market by Vertical
7.7 Rest of Europe Communication Platform as a Service Market
7.7.1 Rest of Europe Communication Platform as a Service Market by Component
7.7.1.1 Rest of Europe Communication Platform as a Service Market by Solution Type
7.7.1.2 Rest of Europe Communication Platform as a Service Market by Services Type
7.7.2 Rest of Europe Communication Platform as a Service Market by Organization Size
7.7.3 Rest of Europe Communication Platform as a Service Market by Vertical
Chapter 8. Company Profiles
8.1 RingCentral, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Acquisition and Mergers:
8.1.5.3 Product Launches and Product Expansions:
8.2 8x8, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Acquisition and Mergers:
8.3 Avaya Inc. (Avaya Holdings Corp.)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.4 Sinch AB
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.5 Twilio, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Acquisition and Mergers:
8.6 Telesign (Proximus Group)
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental Analysis
8.7 Bandwidth, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Acquisition and Mergers:
8.8 CM.com N.V.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Recent strategies and developments:
8.8.4.1 Acquisition and Mergers:
8.9 Vonage Holdings Corp. (Ericsson AB)
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expenses
8.10. Infobip Ltd.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Partnerships, Collaborations, and Agreements:
8.10.2.2 Product Launches and Product Expansions:
8.10.2.3 Acquisition and Mergers:
8.10.2.4 Geographical Expansions
Companies Mentioned
- RingCentral, Inc
- 8x8, Inc.
- Avaya Inc. (Avaya Holdings Corp.)
- Sinch AB
- Twilio, Inc.
- Telesign (Proximus Group)
- Bandwidth, Inc
- CM.com N.V.
- Vonage Holdings Corp. (Ericsson AB)
- Infobip Ltd.
Methodology
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