As companies seek closer contact with their customers and move towards the cloud, more and more enterprises are on the hunt for a single platform to manage all of their communication needs and improve their customer experience.
This is projected to lead to boom times ahead for CPaaS (Communications Platform as a Service) technology, and it will ultimately be the main way in which brands and businesses of all sizes communicate with their customers. In fact, nearly 80% of enterprises have, or intend to implement conversational customer engagement technologies and more than half will do so by using CPaaS technology, to deliver the reliable, efficient, hyper-personalised experiences customers desire most.
What Has Made CPaaS The Go-To Method For Customer Engagement?
Pre-pandemic, demand for the platforms was steadily rising as more businesses realised the value of cloud platforms. Once the pandemic hit in March 2020, growth suddenly accelerated. Now, as businesses emerge from the impact of COVID-19, redesigning their IT infrastructure to leverage digital channels will be a major priority, with the need to offer a more flexible way to interact with customers as a top driver of these investments. This digital-first movement has accelerated CPaaS innovation and its flexible APIs that continue to drive enterprise forward.
While demand for CPaaS has experienced consistent double-digit growth over time, the pandemic instigated a substantial 60% growth increase over 12 months.
Learn more about the impact of COVID-19 on business messaging here.
Multichannel communications have empowered companies to connect with their customers on the channel of their choice, such as SMS, voice, email, Facebook Messenger, WhatsApp or Instagram. Conversational Customer Engagement allows them to keep the conversation going between channels, without losing context.
Cpaas Market Forecasts
Mobilesquared’s initial research findings indicate that messaging is dominating CPaaS spend, with total messaging accounting for 56.3% of spend in 2021. Email, social media, and voice, are the three biggest channels after SMS.
Mobilesquared has updated its Business Messaging Tracker data for the last three months, and reveals that month-on-month, the number of rich messaging users is growing by an average of 0.9%. It is forecasted that total business messaging users (i.e. SMS users) will reach 5.48 billion by the end of June 2022, with rich messaging users reaching 74% of total SMS users.
The future of CPaaS is bright. Businesses will enjoy greater capabilities while also gaining greater security.
CpaaS Research – What We Do At Mobilesquared
To succeed in the CPaaS market you need to understand your customers, and we’re here to help you do so. For 15 years, Mobilesquared have been analysing the messaging market and providing the best data in the industry. You can now have access to all our data through The Messageverse and by investing in Mobilesquared we are committed to delivering decision-ready CPaaS data which will delight your brand and enterprise customers.
Why Mobilesquared?
We deliver the most accurate business messaging data available, which gives our clients a powerful platform to engage their customers. Our data platform The Messageverse, covers 200 markets, and is designed to unlock a precise view of your messaging engagement opportunity by market, channel and customer.
We are the established #1 global authority on business messaging and CPaaS, with our data shaping business plans, strategy, and customer engagement modelling, for some of the world’s leading brands, mobile operators, and messaging providers.
Get in touch to learn more about what we do and discover how we can help your business.
Written by Kate, for Mobilesquared.