BASINGSTOKE, England, Jan 30 (Bernama-BUSINESS WIRE) -- A new study from Juniper Research has found the value of the CPaaS (Communications Platform-as-a-Service) market will reach $29 billion globally by 2025; rising from $16 billion in 2022. To capitalise on this substantial growth of 80% over the next three years, the report, CPaaS: Market Outlook, Emerging Opportunities & Forecasts 2023-2027, urges CPaaS vendors to focus on the development of managed services over their platforms. These services must enable the creation and management of rich media content over channels such as OTT business messaging, email and social media.
For more insights, download our free whitepaper, Moving Beyond SMS: How CPaaS Will Evolve in 2023 Onboarding SMEs Is Key to Growth in 2023 As markets become increasingly saturated with CPaaS service provision, CPaaS vendors must expand deeper into the SME (Small-to-Medium Enterprise) sector. In addition, the report predicts CPaaS vendors will further focus on the provision of value-added features that enable platform users to fully maximise the benefits of rich media channels though the inclusion of tools, including workflow builders and AI-based chatbot solutions. Research author Sam Barker commented: “CPaaS vendors now compete on the capabilities of managed services to attract SMEs. As many of these smaller enterprises lack in-house development facilities, they will choose the CPaaS platform that provides the most comprehensive managed services for rich media channels.” mrem.bernama.com/viewsm.php?idm=45314 KUALA LUMPUR, Jan 31 (Bernama) -- KoverNow, an insurtech start-up company based in Singapore, has announced the appointment of National University of Singapore (NUS) Associate Professor of Marketing, Juin-Kuan Chong as non-executive director. Chong, who is a behavioural scientist and data scientist by training, currently carries out research focusing on the challenges of nudging people to adopt useful technology. Chong’s expertise is in using behavioural and economic principles and data analytics and AI tools. His work has included studies into how people search for the best deal, decide who and what to trust and how they make decisions in strategic situations. His appointment at KoverNow, which has developed a unique mobile insurance app, is intended to help the company adopt mechanisms to gain a more in-depth understanding of today’s consumers and their buying patterns. Chong’s experience working with public agencies and companies across multiple industries and locations, gives him a unique perspective which KoverNow is keen to tap into. In a statement, KoverNow Chief Executive Officer, Stephan Kaiser said: “Professor Chong has a rich history of advising start-ups in the application of big data and artificial intelligence to their marketing strategies. “His appointment as a director will help us to identify solutions to the key challenges we are coming up against as a disruptor in the digital insurance market. We are excited to have him on board.” Prior to Chong’s current tenure at NUS, he was Assistant Professor of Decision Science and Marketing, and a Senior tutor in Decision Science at the university. He also spent two years as Associate Professor of Marketing at Sungkyunkwan University in Seoul, Korea. He has held research appointments for the Center for Behavioral Economics and the Institute of Data Science at NUS and has published research and reports which have been featured in more than 60 news outlets globally. -- BERNAMA BASINGSTOKE, England, Jan 31 (Bernama-BUSINESS WIRE) -- A new study from Juniper Research has found that the number of credit cards issued via digital card issuance platforms will exceed 321 million globally by 2027, from 120 million in 2023. This growth of almost 170% reflects the use of new advanced digital capabilities, such as digital loyalty schemes and instant issuance, as card issuers aim to combat competition, including buy now pay later. Digital card issuance platforms allow card issuers to create cards using an API-driven approach; enabling cards to be delivered instantly to digital wallets, with the option for a physical card; boosting flexibility significantly. For more information, download the free whitepaper: Updating Credit Cards for the 21st Century Digital Issuance Critical to Addressing $9.7 Trillion Opportunity The new report, Credit Cards Strategies: Innovation Analysis, Digital Transformation & Market Forecasts 2023-2027, found that credit cards will account for over $9.7 trillion in spend globally by 2027. This represents a significant opportunity for card issuers to drive revenue growth by choosing the optimal credit card strategy. It found that rising affluence in emerging markets will be a significant driver of credit card adoption. As such, digital card issuance platforms are critical to delivering credit offerings in these mobile wallet‑dominated markets. Research co-author Nick Maynard explained further: “In emerging markets, the ability to instantly issue digital cards will be a key factor in users choosing credit cards over other payment methods. Card issuance platform vendors must ensure localisation to enable cards to be quickly pushed to the wallets popular in each market.” Loyalty Rewards Critical to Credit Card Popularity The research predicts that by 2027, the monetary value of rewards for users from credit card use will reach $103 billion globally, driving overall adoption. It recommends that card issuers focus on app‑based loyalty to maximise the appeal of these rewards; partnering with well-connected digital loyalty programme providers to maximise their appeal. If issuers fail to do this, they will lose out to better-connected vendors in a highly competitive credit cards market. Credit Cards market research: https://www.juniperresearch.com/researchstore/fintech-payments/credit-card-strategies-research-report Download the whitepaper: https://www.juniperresearch.com/whitepapers/updating-credit-cards-for-the-21st-century Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary. View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005563/en/ Contact Contact Sam Smith, Press Relations T: +44(0)1256 830002 E: [email protected] Source : Juniper Research |
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