This IDC study forecasts the worldwide voice and text messaging communications platform-as-a-service market to grow from $867 million in 2016 to $8.2 billion in 2021. The voice and text messaging CPaaS market is transitioning from a hypergrowth start-up phase to a critical-mass phase. Demand is driven by mobile enablement, cloud consumption, and a strategic priority by businesses in all sectors to create differentiated customer experiences. This document analyzes the market for voice and text messaging CPaaS in four categories: companies with a communications focus, companies with communications as a feature of their business, ISVs and SaaS providers, and traditional enterprises.
"The voice and text messaging CPaaS market is transitioning from a hypergrowth start-up phase to a critical-mass phase. The worldwide market will exceed $8 billion in 2021, driven by enterprise demand for mobile enablement, cloud consumption, and differentiated customer experiences," according to Mark Winther, Group VP, Telecom.