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Data from Synergy Research Group shows the CPaaS market continues to demonstrate strong market growth. This momentum provides a solid foundation for increased development of communication and software technologies, creating and enhancing new customer interactions and experiences.
The latest 2Q 2021 market share report shows CPaaS market grew over 40% worldwide with Twilio maintaining its number one market share ranking. Synergy has measured sevenfold market growth for the CPaaS market over the last 18 quarters.
While Twilio is the clear worldwide market share leader, vendors like Vonage, Sinch, bandwidth, MessageBird, and 8×8 have stronger market share positions across the regional markets driven by their successful focus on areas of local expertise. This is illustrated in the APAC region where Vonage is the #1 CPaaS vendor followed by Twilio and Sinch.
APAC recording fastest CPaaS market growth in 2021
The CPaaS market is on track to exceed $5B in 2021
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