India Communication Platform-as-a-Service (CPaaS) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

India Communication Platform-as-a-Service (CPaaS) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028) The Indian Communication Platform-as-a-Service (CPaaS) Market is expected to register a CAGR of 24.83 % during the forecast period. The Indian CPaaS market is driven primarily by increased digital customer engagement, cloud encryption, and digital transformation. A communication platform as a service (CPaaS) is a cloud-based delivery architecture that enables businesses to add real-time communication capabilities. CPaaS, a cloud communication technology, is primarily used to improve customer communication channels. Key HighlightsThe WhatsApp Business API and chatbots are the most visible CPaaS use cases. Text messaging, call-based help, and video-based services can all be integrated into the same application with CPaaS. The company is aware of future issues as everything is linked in the back end. The company is also aware of the buyer's previous communication history when a client contacts the firm and can even get to the heart of a problem and solve it. This, of course, increases the efficiency of transactions and can improve the customer experience.Numerous cloud-based APIs are used more frequently by CPaaS providers since they offer tremendous value. These are made available to developers as pre-packaged plugins or as a component of integration modules so they can integrate messaging, audio, video, email, and other OTT into their applications. This platform uses a pay-as-you-go system for ads, allowing companies to only pay for the services they utilize. As there is no significant expenditure needed to create an infrastructure or develop software, it makes the business asset lighter. As a result, CPaaS is becoming more and more popular among enterprises.Technological innovations carry a value that works in multiple sectors. Smart shopping assistants are expected to be better at making purchase suggestions based on the user's browsing history. The software would provide accurate, real-time translations, reducing the need for expensive multilingual customer support representatives. APIs would provide CPaaS video chat technology and AI capable of facial recognition to turn any phone or webcam into a biometric security checkpoint. Chatbots would also continue to grow in scope and capacity, allowing multiple businesses to deploy teams of automated service reps made entirely of bots.Over the past year, global communication has changed. Always-on consumers drive expectations, and businesses work harder to adapt to these rapid changes in a customer-centric manner. Flexibility, seamless connectivity, and multichannel commercial communication are becoming increasingly important. The transition to a contemporary digital platform is fueled by communications-platform-as-a-service (CPaaS) services, allowing businesses to adapt to changing client needs. Implementation challenges in the ecosystem are expected to hinder the market growth.After the COVID-19 pandemic, due to the rise in the requirement for CPaaS services, many startups entered the market to capture significant shares. In June 2022, following the widespread use of the WhatsApp chatbot during the last two years of the pandemic, WhatsApp India and the Centre planned to expand this bot's features to include dedicated medical opinion for cancer consultation online, as well as electronic history capturing of patients. Solutions, such as X-Ray Setu, an automated system that aids in interpreting chest X-rays from low-resolution photos provided over WhatsApp, are also in the works.India Communication Platform-as-a-Service (CPaaS) Market TrendsSMEs to Witness Significant Growth The SME sector in India is recognized as the foundation of the country's economy, accounting for 45% of industrial output, 40% of exports, 60 million jobs annually, 1.3 million new jobs annually, and the production of more than 8000 high-quality goods for domestic and international markets. The Udyam registration platform registered 12,201,448 MSMEs as of November 25, 2022, according to the data from the Ministry of Micro, Small, and Medium Enterprises, replacing the previous procedure of registering for a Udyog Aadhaar Memorandum. Microbusinesses made 11,735,117 (96.17%) of all registered businesses, while small companies made 426,864 (3.49%) and midsized businesses made 39,467 (0.32%). For CPaaS providers, the enormous and rapidly expanding market for SMEs in India offers a significant chance to expand their operations across the ecosystem. A fantastic platform for SMEs is CPaaS (Communication Platform as a Service), which enables businesses to create, manage, and use applications without dealing with the hassle of setting up and maintaining communication infrastructure. It includes a modern customer management platform, redundancy, and multi-layer data security, allowing users complete control over the platform. Due to the concentration of Indian MSMEs in smaller towns and cities, there is an increased requirement for multilingual communication with their clients. With the help of CPaaS, small business owners can communicate with their clients in various languages without the expense or requirement for specialized translators or translation tools. In addition to assisting MSMEs in maintaining relationships with their current clients in their local areas, CPaaS also enables them to connect with potential clients in India. Cloud and AI-enabled communication solutions allow MSMEs to connect with potential clients in multiple markets with personalized messaging, utilizing numerous channels since digital is rapidly becoming a significant component of business operations for enterprises of all sizes in India. MSMEs may scale their communications strategies up or down as necessary with CPaaS, allowing them to develop and expand at their rate. The investment money that would have been spent on growth and lead-generating services is reduced. The investment cost is crucial for SMEs when deploying any technology solution. They can profit from a customized, AI-enabled contextual communications platform with CPaaSwithout investing capital in new infrastructure. If they have any apps, they can easily incorporate them into those and other systems via APIs. CPaaScan increases marketing initiatives' return on investment (ROI) by up to 25% while lowering the cost of engagement for MSMEs by 30%. Retail and E-commerce is Expected to Hold Significant Market Share India is now a mobile-first economy, and rapid mobile and digital adoption have altered consumer engagement and brand interactions. They demand better end-to-end tailored experiences along with more options to pick from. Customers expect all offers to be individualized, according to ~52% of them. Organizations have been utilizing conversational commerce and other technologies to keep up with these shifting consumer demands, particularly when integrated with cutting-edge artificial intelligence (AI) algorithms. The requirement for conversational commerce may also be measured by looking at how willing customers are to use chatbots in their purchasing trips. The research found that 81% of the 15% of customers who used a retail chatbot to make purchases stated they would do it again. However, creating CPaaS capabilities that are simple to combine with SaaS solutions may help conversational commerce succeed. The Indian e-commerce sector is expected to grow by 21.5% and reach USD 74.8 billion in 2022. The recent increase in digital literacy has resulted in a surge of investment in e-commerce businesses, leveling the playing field for new companies to establish their bases and generating novel patterns to challenge established behavior. The CPaaS market in India is further fueled by increased investment in retail and e-commerce. Moreover, the pandemic altered the retail sector, resulting in regrettable store closures and anxiety regarding the future of the in-store experience. Retailers struggled initially but eventually changed course to serve clients through cutting-edge methods efficiently. For all players, big or small, digital-first and omnichannel experiences have become a need. The industry turned to CPaaS for welcome email-based programs, more intelligent voice-based IVR and customer service solutions, and conventional SMS initiatives. According to Global Agriculture Information Network, in 2022, there were around 13 million retail grocery stores in India. Within the category, this encompassed traditional and new retailers. While there has been a constant growth in numbers since 2013, it primarily comprises traditional stores. The rise in the retail stores would increase the demand for the studied market, and the retailers may send the product discount rate and any seasonal sales through messages.India Communication Platform-as-a-Service (CPaaS) Industry Overview The India Communications Platform-as-a-Service (CPaaS) Market is moderately fragmented, with major players like Twilio Inc., Tanla, Route Mobile, AMD Telecom (Routee), and Netcore Cloud, among others. Players in the market are adopting strategies such as partnerships, mergers, innovations, investments, and acquisitions to enhance their product offerings and gain sustainable competitive advantage. January 2023: Telnyx LLC launched a new messaging deliverability dashboard. With this service, customers can track real-time deliverability through the dashboard. The customer gets an alert about whether the desired product is delivered, not delivered, or is in flight. The updated feature launch is to attract more new businesses to opt for the company's services. December 2022: Sendbird Inc., a provider of mobile app conversation platforms, launched scheduled messages and poll tools to encourage more successful interactions between in-app chat users and businesses. Scheduled messages allow users to choose the best time to deliver their message. They can transmit reminders, operational messages, and activities triggered by perfectly timed communications. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Please note: The report will take approximately 2 business days to prepare and deliver.