Ever wondered what Communication Platform as a Service (CPaaS) is? How can it be beneficial for emerging industries? What are the several pros and cons related to it? Well, CPaaS is an enhanced real-time feature provider that works on a cloud-based model.
Developers can easily incorporate real-time communications capabilities into their apps, such as phone, messaging, video conference calls, chatbots, etc., by using a communications platform as a service (CPaaS). Contextual communications have a wide range of applications due to the growing need for them, including video-enabled help desks, appointment reminders, authentication services, etc.
By using its assistance, businesses can quickly put on real-time communication abilities. Eventually, the need for constructing backend infrastructure and interfaces is eliminated. Thus, various features can be added to the list, including Outbound voice calls, Inbound call routing, Text messages (SMS), On-demand SIP trunking, Number masking (proxy), Social Media Messaging, and much more.
A recent development in the Middle East is the usage of Direct Inward Dialling (DID), which offers a cutting-edge & effective method for handling communication requirements. Customers can use DID to connect directly with the department or person they need without going via a switchboard or operator. By cutting down on wait times and offering more individualized care, can enhance the customer experience. Because of this, companies including Emirates Airlines, Dubai Electricity, Oman Arab Bank, and others have implemented DID to enhance their customer service offerings.
Furthermore, as small and medium-sized businesses (SMEs) in the area are eager to adopt these platforms, the adoption of DID would continue to contribute to revenue development. Through the use of Direct Inward Dialling (DID), they are able to publish distinct phone numbers for each department on their website or in a directory, giving the appearance that the company is a larger operation and perhaps boosting client confidence and trust. Additionally, DID is a reasonably priced option that can aid small firms in more effectively managing their communication requirements, which would continue to support revenue development over the course of the predicted period.
Based on research, a sizable chunk of organizations has already been impressed by the plethora of features that Communications Platform as a Service aims to deliver to its potential customers. As time passes, the rate of enhanced customer service, faster deployment experience, growth in scalability, and global reach is rising exponentially and is all set to go beyond the specified limits.
Similarly, a report published by Markntel Advisors unveils the fact that the Middle East & Africa Communications Platform as a Service (CPaaS) market is projected to grow at a CAGR of around 20.47% during the forecast period, i.e., 2023-28.
Over the projected timeframe, the rising prominence of chatbots and the increasing need for real-time communication by plenty of organizations offered an efficient venue for the industry to thrive globally. Furthermore, the year 2020 visualized a critical turning point for regional suppliers owing to tremendous advancement in customer demand rendered by the fast digitization of both B2B and B2C service delivery channels. Hence, the COVID-19 pandemic stood accountable for partly creating an impact on the situation.
In addition, a large number of organizations belonging to the various sectors have already agreed to go along with the guidelines enacted concerning the outbreak for the sake of sustaining their good communication relationships with customers, employees, as well as other significant partners. That, too, by taking punctuality and efficiency into consideration.
Meanwhile, when the catastrophic event was at its peak, elite service-providing firms, including Twilio, Vonage, Sinch, and so on, suspected a substantial business expansion concerning revenue which they managed to accumulate from a vast number of dominating industries, such as logistics, pharmaceuticals & healthcare, financial services, and e-commerce sectors of multiple countries, notably the US, India, the UK, Germany, etc. In addition, even with the earlier projection period of 2018-2022, the following headway turned into reality ever after these running industries successfully implemented the ideology of Communication Platform as a Service (CPaaS), a cloud-based model.
Chatbot acts as a medium that is supported by computers and usually works collaboratively with the channels supported by the CPaaS to become easily operatable and promptly responsive. Further, it initiates the performing of Communications Platform as service activities. As soon as the BFSI, e-commerce, tourism, and various other sectors ventured along with chatbots, their customer service and effectiveness tended to rise and surpass decent growth. In general, messaging, voice calls, and video conferencing are some of the channels of communication that enable Chatbots to operate effectively.
Secondly, in an attempt to ameliorate customer service and establish a pleasant environment, and banking institutions have chosen to implement cloud-based modeling in their workplaces. Not only this but a handsome amount of well-known businesses has also conducted thorough research and chosen to build their workplaces along with these systems in order to maintain long-term growth. Bizbike, Starbucks, Belfius, Yellow Class, Foyer, and so on are some of their names.
With the rising upgradation of software, the market is more likely to be inclined towards enormous success. It also promotes and enhances user experience. In light of this, cashless transactions and the growing emergence of digital banking methods are rapidly evolving, which further cheer up the market expansion. All these factors constitute a majorly rise in the CAGR during the projection period of 2023-2028.
Several regions of the Middle East & Africa, including Qatar, Saudi Arabia, Oman, and the UAE, are shaping their success by allocating funds to technologies to make the residents of their region smell the scent of the digital era. As an outcome, activities ranging from cashless transactions, digital payments, mobile banking, and others will be promoted with the help of CPaaS, and it would strive the market to divert toward a large sum of revenues. Last but not least, it is evident that a company, after implementing CPaaS or the Communication Platform as a Service, can help their consumers beware of fraudulent activities since it delivers flash warnings and real-time notifications very advance.
