The Asia-Pacific Communication Platform-as-a-Service Market size is estimated at USD 6.07 billion in 2024, and is expected to reach USD 40.75 billion by 2029, growing at a CAGR of 46.32% during the forecast period (2024-2029).
The Asia-Pacific Communications Platform-as-a-Service (CPaaS) Market is characterized by intense competition, with numerous major and minor vendors operating in both regional and international markets. This market exhibits a fragmented nature, as key players employ various strategic approaches such as product innovation, mergers, and acquisitions to enhance their product offerings and maintain a competitive edge.
In March 2023, Qualtrics and Twilio announced an expansion of their partnership, introducing a new no-code connector that facilitates real-time data sharing and integration between Twilio's Segment customer data platform (CDP) and Qualtrics' Experience iD (XiD). This integration provides a comprehensive view of operational engagement data, including content engagement, purchases, user logins, and cart abandonments in the Twilio Segment, combined with qualitative data like customer satisfaction and effort scores in XiD. This synergy results in more robust customer profiles and actionable insights.
In June 2022, Tanla Platforms Limited, a CPaaS provider, and Kore.ai, a company, unveiled an exclusive five-nation alliance that includes the Philippines, Indonesia, Vietnam, the United Arab Emirates, and India. This strategic alliance leverages the power of conversational artificial intelligence (AI) to revolutionize corporate communication, enhancing interactions between enterprises and their customers. The alliance's objective is to connect customers, partners, and employees with a cutting-edge conversational AI-based Natural Language Processing (NLP) system, which translates user interactions into more intuitive and meaningful digital experiences.
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