The global messaging platform market is anticipated to expand at a substantial CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising adoption of cloud-based solutions for instant messaging and video conferencing across the globe. Moreover, growing demand for virtualization for messaging platforms is expected to propel the market growth.
Messaging platforms enable the internet users to interact in form of messaging and video conferencing with each other. These platforms aid in encrypting the communication between two parties, which ensures security. Most of the messaging platforms available in the market are unified communications (UC) products. This means that these platforms include features such as IP telephony, instant messaging (IM), social media integration, and email archiving & compliance. These platforms also provide collaborative tools that make it preferable for consumers and business users.
Companies generally face challenges to deal with unorganized data management, which has encouraged them to adopt several business social tools to make these data organized. These tools help them to understand consumers’ concern and bridge the gap that exist due to the time zone difference. Messaging platforms use several advanced virtualization technology, which help decrease the deployment of hardware as well as enhance the productivity of enterprises. The utilization of this technology has also made it easy to manage the hardware effectively, which in turn, lead to increase the demand for messaging platform solutions across end-users.
The report on the global messaging platforms market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Messaging Platforms Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Deployments (On-premise and Cloud-based) and End-users (Small & Medium Enterprises and Large Enterprises) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Openwave Messaging, Oracle, Atmail, IceWarp, Ipswitch, Rockliffe, Microsoft and Open-Xchange |
Based on deployments, the market is bifurcated into on-premise and cloud-based. In 2020, the cloud-based segment dominated the market and is anticipated to continue the trend during the forecast period. Increasing utilization of cloud-based messaging platform by small & medium enterprises owing to its cost-effectiveness present a key factor driving the segment growth. Moreover, the work from home trend has encouraged organizations to adopt cloud-based solutions. This, in turn, has proliferated the growth of the market segment.
In terms of end-users, the messaging platform segment is divided into small & medium enterprises (SMEs) and large enterprises. The SMEs segment is anticipated to exhibit a high CAGR owing to the increasing number of small and medium enterprises adopting virtualization and cloud-based solutions across the globe. Moreover, the rising importance of secured communication owing to the confidential data share among the employees is propelling the growth of this market segment. On the other hand, the large enterprises segment is expected to grow at a healthy rate owing to rising competition among the major organizations to maintain their position in the market.
On the basis of regions, the market is classified as Asia Pacific, North America, Europe, Latin America, Europe, and Middle East & Africa. Asia Pacific accounted for a large market share in 2020, in terms of revenue and is projected to constitute a substantial market share in the coming years. Rapid development in the IT industry and growing awareness about messaging platforms among SMEs in emerging economies such as India and China are expected to propel the market growth during the forecast period. Moreover, the rising adoption of cloud-based services is boosting the market growth in this region. On the other hand, the market in North America is expected to grow at a steady rate owing to early adoption of latest technology as well as the presence of major industry players in the region.
The global messaging platform market has been segmented on the basis of
The major players of the market are Openwave Messaging, Oracle, Atmail, IceWarp, Ipswitch, Rockliffe, Microsoft and Open-Xchange.
In September 2020, Microsoft introduced Azure Communication Services (ACS), a communication platform that allows developers to video call, chat, and message to mobile applications as well as desktop applications with the help of its user-friendly APIs and SDKs.
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