Sunday, May 19, 2024

    Comms as a service platforms to be a $6tn market by 2022, says Juniper

    The world of how business use telecoms is changing rapidly and a study by CLX Communications and Juniper Research  forecasts that enterprise spend on Communications Platform as a Service (CPaaS) is set to quadruple by 2020 to $6.4bn.

    For the uninitiated, CPaaS is a cloud-based platform that enables businesses to quickly and easily integrate communications capabilities like voice, video, and messaging into their own applications, without needing to build backend infrastructure and interfaces. This enables them to add new capabilities such as chatbots, service agents and contact centers into their customer-facing applications with minimal effort.

    According to Juniper, the value of the CPaaS market grew by 50% to more than $1.6 billion in 2017. While early CPaaS adopters have primarily been agile, disruptive, digital-first players, this is beginning to change. More established businesses are now beginning to recognize the vital role that differentiation and personalization will play in attracting and retaining consumers, with customer engagement seen as a key future battleground.

    The white paper, entitled ‘Communications Platforms – Transforming Enterprises intoDigital Innovators‘, provides an overview of the CPaaS market and its growth potential. In addition, the paper plots the journey from SaaS to PaaS and evidencing the effectiveness of CPaaS through various use cases.

    Robert Gerstmann, Co-founder and Managing Director at CLX, explains: “We live in a hyper-connected world where we routinely engage with our friends and family using a range of voice, video and messaging technologies. Therefore, as consumers we expect to be able to engage with our chosen brands and businesses whenever, and however we like. CPaaS enables enterprises to rapidly innovate to meet consumer demand – making it easy to integrate a range of communications functions within their existing customer-facing apps and online systems.”

    He continues: “As our white paper with Juniper illustrates – it’s no longer just the native tech businesses that are innovating through CPaaS, many established multinationals are now waking-up to the importance of omnichannel communication for attracting and engaging the customer of tomorrow.”

    Dr Windsor Holden, Head of Forecasting & Consultancy, Juniper Research, adds: “The rapid pace of technological change can be a problem for the most agile of enterprises. New technologies and devices in turn spawn new patterns of demand, meaning that keeping pace, let alone future-proofing, can be a challenge.”

    He adds: “CPaaS offers a highly flexible solution which allows greater scalability, while reducing time-to implementation. Therefore, enterprises using CPaaS can continually evolve their customer engagement channels in line with consumer demand. This is why enterprise spend on CPaaS is set to surge in the next four years.”

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