Juniper Research: Global CPaaS Market Value to Reach $25 Billion by 2025, Realising 260% Growth Over Next Five Years
Summary
For more insights, download our free whitepaper: How CPaaS Needs to Evolve SMS, OTT & RCS. The new study, CPaaS: Future Market Outlook & Emerging Opportunities 2020-2025, predicted that, despite enabling new capabilities, over 95% of CPaaS revenue will be attributable to SMS in 2020 owing to the ubiquity of SMS amongst mobile subscribers. However, by 2025, SMS will drop to 70% of revenue, as alternative rich media messaging solutions gain traction in the CPaaS space. It highlights the ability to support multiple communication technologies as being critical for CPaaS vendors; helping them to increase the value proposition of their platforms for brands and enterprises, by providing a centralised management service for multiple outbound mobile communication technologies. It predicts that growth of rich media messaging technologies, such as RCS, will provide the perfect platform to grow mobile payments over messaging channels as the number of RCS-capable mobile subscribers grows over the next five years.