Messaging Platform Market Poised To Grow At A CAGR Of Approximately 8.1%

A messaging platform is a useful tool for Internet users to exchange messages for the purpose of personalized communications. These ease the interactions between customer service personnel and customers. These platforms ease the work of customer service agents on e-commerce website and social media.

The Global Messaging Platform market was valued at US$ 2,123 million in the year 2018 and is expected to reach US$ 3,240 million by the year 2023, growing at a CAGR of approximately 8.1%. Increasing demand for cloud-based solutions & virtualization in several businesses is fuelling the growth of the global messaging platform market. However, downtime & security concerns are expected to restrain the growth of this market.

On the basis of the deployment type, the market is categorized into cloud-based and on-premise. The cloud-based deployment segment is holding the largest share owing to the growing adoption of cloud-based solutions in businesses. The cloud-based deployment gives advantages such as flexibility, transparency, and reduction of storage space, amongst others. Though the cost of maintaining a cloud network is higher than another type of deployment, it helps streamline the flow of the business. The on-premise category has the disadvantage of having a complex infrastructure, as compared to cloud-based deployment.

According to end-user, the global messaging platform market is segmented as small and medium enterprises (SMEs) and large enterprise. Small & medium enterprises (SMEs) are holding the largest share in the market due to the increasing adoption of the internal messaging platform for the ease of business operations. The increasing number of SMEs will create opportunities for the global messaging platform in the upcoming years.

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Geographically, North America is holding a dominating position in the market due to the presence of most of the messaging platform vendors in this region. The Asia-Pacific region is growing at the highest CAGR, owing to the growing number of SMEs & rising adoption of cloud-based solutions in this region.

The key players operating in the global messaging platform market are, Atmail (Australia), Microsoft (US), IBM (US), Oracle (US), Zimbra (US), Ipswitch (US), Novell (A part of MicroFocus) (US), Open-Xchange (Germany), IceWarp (US), and Openwave Messaging (US), amongst others. Oracle Communications’ ‘Unified Communications Suite’ provides a wide range of message combining features along with customization flexibility such as instant message server, outlook connector, indexing and search service, Oracle communications calendar services, and communications contact server, making it a leading platform for large service providers.

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