Global CPaaS revenue grows 40 percent in Q2
Twilio, Vonage and Sinch dominate some 58 percent of the fast-growing communications platform as a service (CPaaS) market, according to Synergy Research Group.
The analyst has reported that the CPaaS market saw revenue growth of 40 percent year on year in Q2 2021, with Twilio raking in over a third of sales.
Synergy said that Twilio took a 38 percent slice of the pie, with Vonage at 11.8 percent and Sinch at 8.1 percent.
Fazil Balkaya, Principal Analyst at Synergy Research Group, said: “Today the primary application for CPaaS is consumer-based SMS, providing transactional connectivity between mobile devices and emerging cloud services.
“We believe the technology is poised to provide significant enhancements to business communications and sophisticated customer service applications, driving this market to the $14bn mark by 2025.
“We believe we are at the beginning of the CPaaS evolution as sophisticated customer engagement and advanced communications can become the key building blocks of future communication tools”
The rest of the sales were made up by Bandwidth (6.5 percent), MessageBird (5.6 percent) and a collection of other CPaaS players (30 percent).
Synergy pointed out that, despite Twilio’s clear global lead, the other vendors in its top five, as well as outsiders such as 8×8, have regional advantages across the globe.
Vonage, for example, is the market leader in the APAC region.
The global CPaaS market is set to exceed $5bn revenue in 2021 made up of growth across all regions.