The communications industry is rapidly evolving, and one of the major changes is the emergence of CPaaS or Communications Platform as a Service. Raul Castanon, from S&P Global Market Intelligence, was recently a guest speaker in a SmartCom Summit CX22 session on the state of CPaaS. In this session Kevin Nethercott and Rob Kurver discussed the evolution of CPaaS with him, the growth forecast and TAM, the role of telcos to reach new markets, and the importance of low-code/no-code in building new innovative solutions.
Evolution of CPaaS 3.0
According to Raul, CPaaS has gone through three stages of evolution. In the first stage, CPaaS was mainly an interface layer that enabled digital native companies like Airbnb and Uber to make use of the PSTN. In the second stage, IP-based communications were introduced, leading to a mainstreaming of CPaaS and the emergence of new players. Now, in the third stage, telcos are getting to play a serious role in the CPaaS market, and Raul predicts that this trend will continue in the coming years.
Growth Forecast
One of the key takeaways from the session was the growth forecast and TAM of the CPaaS market. Raul projects that the currently tracked market players will have a compounded annual growth rate of 21% and the total market will be worth more than $100B by the end of the decade. This extra growth is being driven by the adoption of CPaaS by businesses of all sizes, from startups to large enterprises, and new players (such as CSPs) becoming CPaaS providers.
Another important topic discussed in the session was the role of low-code/no-code in building new innovative solutions for these new markets. With the rise of CPaaS, it has become easier than ever to build and integrate communication features into business workflows. Low-code/no-code platforms make it even simpler for businesses to develop and deploy new solutions without the need for extensive coding knowledge.
Conclusion
In conclusion, the state of CPaaS is rapidly evolving, and businesses need to stay up-to-date with the latest trends and innovations. Telcos are now playing a serious role in the CPaaS market, and the growth forecast and TAM are both extremely promising. Businesses that want to stay competitive in the digital age need to embrace CPaaS and other emerging technologies, including low-code/no-code platforms, to build new innovative solutions that can help them grow and succeed in the marketplace.
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