Communications Platform as a Service Industry Analysis in Korea
Demand Forecast for Communications Platform as a Service in Korea, by Software and Services, 2023 to 2033
Communications Platform as a Service Revolutionizes User Engagement and Reshapes Communication in Korea, Offering Service Providers a Lucrative Growth Frontier
Studying the Potential of the Communications Platform as a Service Industry in Korea from 2023 to 2033
The communications platform as a service (CPaaS)ecosystem in Korea is poised for substantial growth through 2033. The industry is anticipated to show a robust CAGR of 20.20% through 2033.
The demand for communications platform as a service has evolved into a mainstream industry in Korea, and this trajectory is set to drive the sector to an estimated valuation of US$ 225.9 million in 2023. With a promising outlook and consumers’ growing reliance on online shopping platforms, the demand for communications platform as a service in Korea is expected to reach US$ 1,479.20 million by 2033.
Key Insights and Highlights to Understand Emerging and Fast-growing Opportunities
The CPaaS industry is experiencing substantial growth due to the increasing demand for digital customer engagement solutions. Businesses are leveraging CPaaS to enhance customer communication channels and provide seamless real-time interactions.
Leading companies in the CPaaS sector are incorporating artificial intelligence (AI) into their communication solutions. AI-based communication offerings are on the rise, allowing for more intelligent and automated interactions.
The adoption of cloud-based communication technologies, such as video conferencing and contact center platforms, is a significant driver for the CPaaS industry. The cloud offers scalability and flexibility for real-time communication solutions.
Communication APIs are becoming essential for various business applications, including customer engagement, service management, notifications, industry automation, and business intelligence. CPaaS solutions provide multifactor authentication to enhance security.
Attributes
Details
Industry Size in Korea (2023)
US$ 225.9 million
Forecasted Industry Size in Korea (2033)
US$ 1,479.20 million
CAGR Estimation (2023 to 2033)
20.20%
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Key Trends Influencing Demand for Communications Platform as a Service (CPaaS) in Korea
The rising demand for customized services and the need for real-time support are fueling the CPaaS industry. Customers now expect simultaneous, personalized conversations, cost efficiency, and elimination of repetitive tasks, further driving the adoption of chatbots in the industry.
CPaaS solutions, driven by chatbots, are data-driven and scalable, offering increased productivity and efficiency. The trend is driven by businesses seeking to streamline customer interactions and provide quick support through chatbot-driven communication channels.
Comparative View of Adjacent Communications Platform as a Service (CPaaS) in Key Industries
The provided table offers a comparative overview of sales of communications platform as a service (CPaaS) products and their respective adoption rates in three key regions: Korea, Western Europe, and the global market.
Communications Platform as a Service Industry in Korea:
Attributes
Communications Platform as a Service Industry in Korea
CAGR (2023 to 2033)
20.20%
Valuation (2023)
US$ 225.9 million
Key Trend
Companies increasingly focus on offering AI-based communication solutions, which enhance real-time interactions and provide advanced features
Key Challenge
Ensuring robust security procedures and protecting sensitive information are critical challenges that must be addressed to prevent data breaches and unauthorized access
Communications Platform as a Service in Western Europe:
Attributes
Communications Platform as a Service in Western Europe
CAGR from 2023 to 2033
23.70%
Valuation in 2023
US$ 1,512.3 million
Key Trend
Businesses seek integrated communication platforms for a seamless voice, video, and messaging experience, reflecting the need for productivity-enhancing solutions
Key Challenge
Navigating and adhering to a complex web of evolving legal, security, and data privacy regulations presents a paramount challenge for businesses
Communications Platform as a Service (CPaaS) in the Global Space:
Attributes
Communications Platform as a Service (CPaaS) in the Global Space
CAGR from 2023 to 2033
25.00%
Valuation in 2023
US$ 7,768.20 million
Key Trend
Businesses want to provide a consistent and integrated communication experience across various channels, including voice, SMS, email, and social media. The demand for personalized customer interactions drives this trend.
Key Challenge
The increasing volume of data exchanged through communication platforms, protecting sensitive information, and ensuring compliance with various data protection regulations are ongoing challenges for providers.
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City-wise Insights
AI Integration Amplifies CPaaS Capabilities in South Gyeongsang
South Gyeongsang has witnessed a rapid expansion in the adoption of CPaaS solutions. The region thriving business sector and a strong focus on digital transformation have accelerated the deployment of CPaaS for improved customer engagement and real-time communications.
Companies in the area are leveraging CPaaS to enhance their customer support services and streamline internal communication processes, leading to increased productivity.
The integration of artificial intelligence (AI) into CPaaS solutions. Organizations in the region are seeking AI-driven communication tools to automate responses, provide personalized customer experiences, and gather insights from communication data. As a result, CPaaS providers are focusing on incorporating AI features into their platforms to meet this growing demand.
Category-wise insights
The table below highlights that in 2023, large enterprises and the IT and Telecommunication sectors are currently leading in terms of enterprise size and industry segment.
Category
Industrial Share in 2023
Large Enterprises
57.40%
IT and Telecommunication
31.70%
Large Enterprises Lead their Way in the Communications Platform as a Service (CPaaS) Sector
The large enterprises segment has taken the lead in the CPaaS industry, accounting for an industry share of 57.40% in 2023. Large enterprises are increasingly recognizing the value of CPaaS, driven by its programmable communications and API integration capabilities. The trend highlights how CPaaS is integral to large enterprise communication strategies.
The demand for cloud communication solutions has surged in large enterprises and small and medium-sized businesses (SMBs) in developed and developing countries.
CPaaS offers a valuable solution by enabling enterprises to manage and enhance their communication features without the need for extensive infrastructure development and maintenance. The ease of use allows companies to create unique customer communication experiences, reduce costs, and drive innovation in their communication strategies. The CPaaS industry growth is a testament to its potential to revolutionize business communication.
IT and Telecommunication Sector Embraces the Enhanced Customer Engagement in CPaaS Industry
The IT and Telecommunication sector has emerged as a dominant player in the CPaaS industry, holding a significant industrial share of 31.70% in 2023. The adoption of the CPaaS solutions sector reflects the growing importance of real-time and efficient communication in the industry.
In the IT and telecommunications sector, CPaaS technologies provide essential tools for enhancing customer engagement and optimizing internal communications. The ability to integrate programmable communication features into software applications and platforms enables companies in this sector to offer advanced communication solutions to their customers, leading to improved customer experiences.
The IT and Telecommunication sector reliance on cloud-based technologies aligns well with the cloud delivery model of CPaaS. The adoption of CPaaS allows companies in this sector to leverage cloud-based communication capabilities, enhancing their competitiveness and industry position.
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Competitive Landscape
Players in the Korea’s CPaaS industry are concentrating strategically on customizing their products to meet the specific needs of the regional industry. To ensure accessibility and broad acceptance, this entails integrating CPaaS functions with well-known Korean messaging and social media sites. Ensuring data security is of paramount importance, requiring stringent encryption and adherence to Korean data protection regulations to foster user confidence.
Partnerships with regional companies and sectors, AI-enabled automation, and sector-specific solutions fuel growth. In addition, providing localized customer service, following Korean laws, and marketing affordable plans are essential tactics to obtain a competitive advantage and prosper in this tech-savvy and dynamic industry. Players' positions are further strengthened by ongoing innovation, industry localization, and government collaborations.
Recent Developments Observed in the Communications Platform as a Service (CPaaS) in Korea
In January 2023, KakaoTalk offered enhanced voice and video calling features for business users, enabling companies to conduct video conferences and provide customer support through the app.
In March 2023, Naver Line invested in chatbot technology, making it easier for businesses to deploy and manage chatbots on the platform. The chatbots can handle a wide range of customer queries and provide support around the clock.
Report Scope
Attribute
Details
Estimated Industry Size in 2023
US$ 225.9 million
Projected Industry Size by 2033
US$ 1,479.20 million
Anticipated CAGR between 2023 to 2033
20.20% CAGR
Demand Forecast for the Communications Platform as a Service (CPaaS) Industry in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing the Communications Platform as a Service (CPaaS) Industry in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers
Key Provinces Analyzed
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Companies Profiled
KakaoTalk
Naver Line
SK Telecom
KT Corporation
Daum Communications
Korea Telecom
Nexmo
MessageBird
TeleSign
Infobip
Some of the Key Players in the Communications Platform as a Service (CPaaS) Product in Korea
KakaoTalk
Naver Line
SK Telecom
KT Corporation
Daum Communications
Korea Telecom
Nexmo
MessageBird
TeleSign
Infobip
Key Segments
By Solution:
Communications Platform as a Service (CPaaS) Software
Services
Professional Services
Integration and Implementation
Consulting
Support and Maintenance
Managed Services
By Enterprise Size:
Small and Medium Enterprises (SMEs)
Large Enterprises
By Industry:
IT and Telecom
BFSI
Manufacturing
Healthcare
Retail and CPG
Others
By City/Province:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
How big is the Communications Platform as a Service (CPaaS) ecosystem likely to be in 2023 in Korea?
The Korea CPaaS industry is valued at US$ 225.9 million in 2023.
At what Rate is the CPaaS Ecosystem expanding in Korea?
The anticipated CAGR for the CPaaS ecosystem in Korea through 2033 is 20.20%.
How big will the CPaaS Industry be in Korea as of 2033?
Demand for the industry in Korea is estimated to reach US$ 1,479.20 million by 2033.
Which Industry in Korea Primarily Utilizes CPaaS?
The dominant CPaaS user industry in Korea is IT and Telecommunication.
Which Enterprise Size Contributes Significantly to the CPaaS Ecosystem in Korea?
Large enterprises are projected to remain a key contributor in Korea.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.7. Regional Parent Market Outlook
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Solution
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Solution, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Solution, 2023 to 2033
5.3.1. Software
5.3.2. Services
5.3.2.1. Integration & Implementation
5.3.2.2. Consulting
5.3.2.3. Support & Maintenance
5.3.2.4. Managed Services
5.4. Y-o-Y Growth Trend Analysis By Solution, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Solution, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Enterprise Size, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprise Size, 2023 to 2033
6.3.1. Small & Medium Enterprises (SMEs)
6.3.2. Large Enterprises
6.4. Y-o-Y Growth Trend Analysis By Enterprise Size, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Enterprise Size, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Industry
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033
7.3.1. IT & Telecom
7.3.2. BFSI
7.3.3. Manufacturing
7.3.4. Healthcare
7.3.5. Retail & CPG
7.3.6. Others
7.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Solution
9.2.2. By Enterprise Size
9.2.3. By Industry
9.3. Market Attractiveness Analysis
9.3.1. By Solution
9.3.2. By Enterprise Size
9.3.3. By Industry
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Solution
10.2.2. By Enterprise Size
10.2.3. By Industry
10.3. Market Attractiveness Analysis
10.3.1. By Solution
10.3.2. By Enterprise Size
10.3.3. By Industry
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Solution
11.2.2. By Enterprise Size
11.2.3. By Industry
11.3. Market Attractiveness Analysis
11.3.1. By Solution
11.3.2. By Enterprise Size
11.3.3. By Industry
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Solution
12.2.2. By Enterprise Size
12.2.3. By Industry
12.3. Market Attractiveness Analysis
12.3.1. By Solution
12.3.2. By Enterprise Size
12.3.3. By Industry
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Solution
13.2.2. By Enterprise Size
13.2.3. By Industry
13.3. Market Attractiveness Analysis
13.3.1. By Solution
13.3.2. By Enterprise Size
13.3.3. By Industry
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Solution
14.3.3. By Enterprise Size
14.3.4. By Industry
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Avaya
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Twilio
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Mitel Networks Corporation
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Infobip
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Bandwidth Inc.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Vonage
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. TeleSign Corporation
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. MessageBird
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. IMIMobile Limited
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Telnyx
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.11. MOBtexting
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.12. Yellow Messenger
15.1.12.1. Overview
15.1.12.2. Product Portfolio
15.1.12.3. Profitability by Market Segments
15.1.12.4. Sales Footprint
15.1.12.5. Strategy Overview
15.1.12.5.1. Marketing Strategy
15.1.13. 8x8, Inc.
15.1.13.1. Overview
15.1.13.2. Product Portfolio
15.1.13.3. Profitability by Market Segments
15.1.13.4. Sales Footprint
15.1.13.5. Strategy Overview
15.1.13.5.1. Marketing Strategy
15.1.14. Telin
15.1.14.1. Overview
15.1.14.2. Product Portfolio
15.1.14.3. Profitability by Market Segments
15.1.14.4. Sales Footprint
15.1.14.5. Strategy Overview
15.1.14.5.1. Marketing Strategy
15.1.15. Kaleyra
15.1.15.1. Overview
15.1.15.2. Product Portfolio
15.1.15.3. Profitability by Market Segments
15.1.15.4. Sales Footprint
15.1.15.5. Strategy Overview
15.1.15.5.1. Marketing Strategy
16. Assumptions & Acronyms Used17. Research Methodology
