Application program interfaces (APIs), a more developer-friendly and affordable way to incorporate communications competencies into business applications, are how the term “communications platform as a service” first appeared when businesses like Twilio, Vonage (Ericson), Tanla Platforms, Route Mobile started to offer them. Businesses that use cloud-based APIs from CPaaS vendors can integrate real-time communications such as audio, video, and messaging into their apps with just a few lines of code rather than developing their own communications infrastructure from the ground up.
What makes it even more interesting is the undesired need for skilled developers set to operate CPaaS, enabling almost anyone to create communications applications. For the past ten years, businesses have used these provider APIs to construct their contact centers utilizing communication building blocks. Now, as such services intensify their grip on new entrants, the industry for this service seems promising, particularly in the Asia-pacific region.
Unwinding some facts and figures a recent report by Markntel Advisors cites, the Asia Pacific Communication Platform as a Service Market is likely to attain exponential growth at a CAGR of around 33.39% during 2022-27. With this in mind, let us try and understand the trends that are prevailing currently in the industry and have facilitated the evolution of the communications platform as a service and further prompted industry growth in the forthcoming years.
Top 5 Trends to favorably foster the CPaaS industry in Asia-Pacific
Blockchain Technology-Enabled Platforms
Nowadays, Asia Pacific Communication Platform as a Service Market providers is profoundly incorporating blockchain technology into their platforms. Thanks to its remarkable benefits in terms of secure messaging, enterprise-level communication, secure VoIP, CDNs, etc. All because blockchain technology via a decentralized approach, protects client privacy information and restricts access to only those users who need it. On that note, some businesses, such as TOP Network, have created decentralized cloud communication networks on the blockchain that enable businesses to offer top-notch services at lower costs. So, with the help of blockchain technology, service providers can transparently join networks. Even better, blockchain technology could provide the best application integrations with a decentralized cloud communication network so that communication services become less hustled.
The Advent of New Platforms Offering an Unparalleled Interface
To stay afloat in the competition, tech giants keep on investing in R&D, in order to monetize the opportunities, they are presented with by the consumers. Let us illustrate this with an instance, Twilio, one of the leading players, developed Twilio Flex, the first fully programmable contact center platform, to address the changing demands of today’s enterprises. Flex is an application platform for contact center development that enables users to build, design, and manage their own contact centers on top of current Twilio infrastructure, not a collection of APIs or a bundled contact center SaaS/CCaaS offering.
A Sweeping Digital Transformation Wave in BFSI Across Asia-Pacific
The APAC banking sector has experienced impressive growth in the past few years, and the credit entirely goes to scaling smart digital payments and associated digital banking services, instigating the broad inclusion of digital platforms in the banking and financial industries. Next, because of the cooperative strategy adopted by tech-savvy start-ups & classic companies, digital financial services in China and India are gaining traction. Notably, banks are now being introduced to more opportunities to monitor consumer inquiries and insure their crucial data against cyber-crimes while effectively enhancing banking operations.
The Ongoing Rollout Of 5G Across the Region
The continuing deployment of 5G data networks with high speeds augurs well for the CPaaS. So, video and audio conferencing, meetings, and collaboration can all be considerably improved. Thanks to the fast, low-latency communication made possible by 5G networks. Further, the adoption of CPaaS solutions is facilitated remarkably by the cloud-specific network function virtualization (NFV) and multi-access edge computing (MEC) capabilities provided by 5G technology for scalable and self-healing networks. Besides, the customizable user interfaces and application functions aim to enhance workplace ventures to thrive in the industry in the future.
The Steady Adoption of AI And Machine Learning for A Seamless Experience
Companies are widely implementing AI-based UCaaS to transform the way their workflows, decision-making procedures, and strategic planning. For instance, Amazon published Chime, a cloud-based Unified Communication as a Service, while Avaya Inc. developed an AI voice assistant software for desk phones. AI and machine learning skills also facilitate features like intelligent chatbots alongside predictive intelligence.
Considering everything mentioned in the above paragraphs, we can easily conclude that the industry is predominantly moving in parallel with digital advancement and adoption in several industries. And since we are already in the digital era, there is no turning back. Hence, we can infer that the CPaaS is here to stay.