The global messaging platform market size was valued at USD 59.99 Billion in 2022 and is likely to reach USD 96.30 Billion by 2031, expanding at a CAGR of 5.4% during the forecast period, 2023–2031. 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.
Messaging Platform Market Trends, Drivers, Restraints, and Opportunities
- Increasing penetration of internet service and wide use of smartphones are anticipated to propel the growth of the market during the forecast period.
- Growing number of cloud-based messaging platforms is expected to spur the market growth.
- Rising adoption of IP-based communication owing to growing concerns regarding the increasing carbon footprint is speculated to positively influence the market.
- Growing need of social media integration owing to the high access to social media platforms is anticipated to stimulate the growth of the market.
- High maintenance cost of the platform is one of the major challenges that can hamper the market expansion.
- Increasing pressure to provide uninterrupted communication to the users can pose a challenge to the market growth.
- The COVID-19 pandemic has resulted in the closedown of the corporate offices across the globe. Thus, for the effective and secured communication between the employees, organizations are increasingly using messaging platforms. Moreover, the shift to digitization owing to the pandemic is expected to proliferate the market growth.
Scope of Messaging Platform Market Report
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.
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Attributes
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Details
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Report Title
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Messaging Platforms Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Deployments (On-premise and Cloud-based) and End-users (Small & Medium Enterprises and Large Enterprises)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Openwave Messaging, Oracle, Atmail, IceWarp, Ipswitch, Rockliffe, Microsoft and Open-Xchange
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Messaging Platforms Market Segment Insights
Deployments Segment Analysis
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.
End-users Segment Analysis
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.
Regional Analysis
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.
Segments
The global messaging platform market has been segmented on the basis of
Deployments
End-users
- Small & Medium Enterprises (SMEs)
- Large Enterprises
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Openwave Messaging
- Oracle
- Atmail
- IceWarp
- Ipswitch
- Rockliffe
- Microsoft
- Open-Xchange
Competitive Landscape
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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