Communications platform as a service (CPaaS) provides cloud-based middleware that application makers can use to build, run, and share communications software. The platform has application programming interfaces (APIs) that make it easy to add voice, text, and video communication features to any app, service, or business process. Between 2021 and 2028, the Asia-Pacific communication platform as a service (CPaaS) market is anticipated to expand rapidly. The low cost of cloud-based communication tools and the rising popularity of pay-as-you-go cloud business models are projected to be the market's main drivers. CPaaS enables customers to upgrade their on-premise communication infrastructure, such as phone systems or video servers, with new cloud-based services. Pay-per-use options are available for CPaaS, making it more cost-effective for micro and small businesses. The CPaaS market is anticipated to expand in the Asia-Pacific region as a result of all of these factors. Over the coming years, China is anticipated to dominate the Asia-Pacific communication platform as a service (CPaaS) industry.
The Asia-Pacific CPaaS Market is projected to exhibit a compound annual growth rate (CAGR) of 45.5% during the period spanning from 2021 to 2028.
Major Players in the Asia Pacific Communication Platform as a Service Industry:
1. Voxbone
Voxbone is a global communication as a service (CaaS) company that is a wholly owned subsidiary of Bandwidth, Inc., It was founded in 2005 and headquartered in Brussels, Belgium. It operates in more than 60 countries. In Oct 2020, Bandwidth, a leading enterprise cloud communications company, said it had signed a final agreement to buy Voxbone, an international leader in enterprise cloud communications, for an enterprise value of €446 million EUR, which is about six times Voxbone's expected 2020 revenue.
2. RingCentral Connect Platform
RingCentral Connect Platform is an American publicly traded provider of cloud-based communication and collaboration products and services for businesses. It was founded in 1999 and headquartered in California, U.S. It operates in over 45 countries and territories. In May 2023, Vodafone Portugal and RingCentral, Inc. unveiled "One Net TeamCollaboration with RingCentral," a robust, cloud-based communications solution that combines RingCentral's messaging and video collaboration capabilities with Vodafone's existing fixed and mobile voice communications functionality for the Portuguese market. It would enable their personnel to collaborate on any device and from any location.
3. Brightlink CPaaS Platform
Brightlink CPaaS Platform is a communications platform and technology company that delivers voice, messaging, analytics and cloud-based solutions. It was founded in 2009 and headquartered in United States. It operates in 100 countries. In May 2019, with the 2.0 release of its Communications Platform as a Service (CPaaS) Platform, Brightlink has made it simpler for businesses to incorporate communications capabilities into their customer engagement strategies. Brightlink's CPaaS Platform capabilities, such as the ability to acquire and activate phone numbers and enable business messaging, are still accessible via the Brightlink Phonebook, but have been enhanced with new features and an enhanced user interface.