Communication is critical to business success, whether internally with your team or externally with your customers and partners.
The COVID-19 pandemic made organisations realise how important it is to stay connected. This resulted in a surge in demand for communications platform-as-a-service (CPaaS),1 as businesses sought solutions to stay connected with employees and customers despite the distance.
Given this upswing, the CPaaS market’s global value exceeded USD10 billion for the first time in 2022, a 17% growth from USD8.6 billion in 2021.2 By 2026, the CPaaS industry will grow to USD34.1 billion, a 293% compound annual growth rate (CAGR) from 2021 to 2026.3
As CPaaS is a cloud-based service, providers fully manage CPaaS solutions. Application programming interfaces (APIs) built into CPaaS allow companies to add voice, messaging, and video features to enhance internal communications and customer experience.
Gartner predicts that, by 2025, 95% of global enterprises will utilise API-enabled CPaaS solutions to level up their digital competitiveness.4 The best CPaaS solutions are integrated platforms that offer a wide selection of APIs that span fast-growing programmable communications services.1
As the business landscape evolves, enterprise communication also changes. CPaaS solutions enable companies and empower teams through flexible communications. Here’s how CPaaS solutions are evolving alongside changes in enterprise communication.