The rapid growth of cloud players in the business communications space has stolen headlines lately. One particular piece of news that caught my attention is Vonage communications platform as a service (CPaaS) revenues now represent nearly half of its commercial business. It triggered my desire to check the status of the CPaaS market. Let’s take a look.
A fast-growing market
The business communications market is shaping up around three segments: unified communications as a service (UCaaS), contact center as a service (CCaaS), and CPaaS. The unified communications and contact center markets existed before the cloud.