The full-year 2019 market will grow threefold compared with just three years ago, according to Synergy Research Group
CPaaS revenues are on track to once again grow by over 40% in 2019, according to Synergy Research Group. With revenues in the first three quarters of the year having already surpassed full-year 2018 levels, Synergy is forecasting that the full-year 2019 market will grow threefold compared with just three years ago. Twilio has been the pioneer in CPaaS and is a clear market leader with a 32% worldwide share in the third quarter. It is followed by Vonage, Bandwidth, MessageBird, Sinch and Voxbone.
CPaaS (Communications Platform-as-a-Service) has quickly achieved market acceptance with both its market size and its growth rate having now surpassed those of the closely associated UCaaS market. It is notable that CPaaS has found success in all regions as it can appeal in countries that have not yet fully embraced cloud communications. Synergy is forecasting strong 2019 growth across all regions.
“CPaaS uptake is benefitting from its ability to quickly add new functionality, the ease with which it can be customized and the flexibility of its pay-as-you-go service model,” said Jeremy Duke, Synergy Research Group’s founder and Chief Analyst. “While Twilio is something of a poster child for CPaaS and is the market leader in all major regions, most of the leading vendors are enjoying strong revenue growth. Across all of the major UC collaboration market segments, CPaaS now has the highest growth rate.”