BlackBerry enters the CPaaS space
Last month, BlackBerry (BBRY) introduced the BBM Enterprise SDK (software development kit) and thus entered the communications platform as a service (or CPaaS) space. According to BlackBerry, the BBM Enterprise SDK will “enable developers to integrate secure messaging, voice and video capabilities into applications and services.”
CPaaS is a cloud-based communication platform where developers can add real-time communication features such as voice, video, and messaging in applications. Enterprises will benefit from a CPaaS, as they will no longer have to build backend infrastructure to support communication services.
BlackBerry will compete with cloud communication platforms globally and provide APIs (application program interface) to enterprises, thereby enabling them to improve business processes. The CPaaS segment also provides another market for BlackBerry to increase revenue, which it has been struggling to do in the last few years.
Cloud communication platform market to reach $4.5 billion by 2021
Instant messaging is quickly becoming the primary mode of communication in enterprises. BlackBerry has the capabilities to provide secure and encrypted messaging services, as it now has over 80 security certifications and approvals. The firm aims to provide a highly secure messaging platform for both iOS (AAPL) and Android (GOOG) (GOOGL).
A research report from Markets and Markets projected that the cloud communication platform will grow at a CAGR (compound annual growth rate) of 26.8% from $1.4 billion in 2016 to $4.5 billion in 2021.