NOIDA, India, Nov. 18, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, theUnified Communication-as-a-Service (UCaaS) was valued at USD 40 billion in 2020 and is expected to grow at a CAGR of around 11% from 2022-2028. The analysis has been segmented into Component (Telephony, Unified Messaging, Collaboration Platforms); Organization size (Small and Medium Enterprises and Large Enterprises); Industry Vertical (BFSI, Telecom and IT, Consumer Goods and Retail, Healthcare, Public Sector and Utilities, and Others) Region/Country.
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The Unified Communication-as-a-Service (UCaaS) report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Unified Communication-as-a-Service (UCaaS). The Unified Communication-as-a-Service (UCaaS) report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Unified Communication-as-a-Service (UCaaS) at the global and regional levels.
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Market Overview
The Unified Communication-as-a-Service (UCaaS) is expected to showcase significant growth with a CAGR of around 11% over the forecast period (2022-2028). Unified Communication-as-a-Service (UCaaS) are cloud-delivered unified communication model that mainly supports enterprise telephony, meetings (audio, video, web conferencing), unified messaging, instant messaging and presence (personal, and team), mobility, and communication-enabled business processes. Its typical characteristics include multitenancy (including tenant partitions residing on shared UC infrastructure, such as data centres, racks, compute, network, common equipment and blades) and self-service web portals for provisioning, management and performance/usage reporting. The increasing adoption of smart mobile devices coupled with the growing advancements of collaboration tools is expected to drive the market. Moreover, the rising trend of bringing your own device amongst organizations and the growing trend of remote work is expected to significantly drive the Unified Communication-as-a-Service (UCaaS) market. For instance, 55% of businesses globally offer some capacity for remote work
Some of the major players operating in the market include 8x8 Inc, Cisco System Inc, Google LLC, Microsoft Corporation, LogMeIn Inc, RingCentral Inc, Mitel Networks Corporation, Fuze Inc, Windstream Holdings Inc, ALE International.
COVID-19 Impact
The covid-19 has had a huge impact on every industry, however, due to constant lockdowns and social distancing organizations were shifted to remote working platforms to safeguard employee safety and to reduce the spread of the virus. This has positively influenced the market.
The global Unified Communication-as-a-Service (UCaaS) report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on component, the market is segmented into telephony, unified messaging, and collaboration platforms. The telephony component is expected to grow with a significant CAGR during the forecast period. This is mainly due to the transformation of the enterprise communication infrastructure. Furthermore, as the trend of remote working is becoming more prevalent, to communicate with teammates Unified Communication-as-a-Service (UCaaS) is used.
- Based on organization size, the market is segmented into small and medium enterprises and large enterprises. The small and medium enterprises segment is expected to grow significantly during the forecast period. The growing prominence of Unified Communication-as-a-Service (UCaaS) in small and medium organizations is mainly attributed to the normalization of contract work and remote work, offering enterprises the agility to be responsive as well as strategic in order to maintain an edge in the marketplace. Moreover, the small and medium have higher IT spending.
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Unified Communication-as-a-Service (UCaaS) Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
The North American region is expected to achieve a larger share of the Unified Communication-as-a-Service (UCaaS). The growth in the region is owing to advanced business communication services. Furthermore, the presence of key players in the market such as Microsoft Corporation, Google LLC, Genesys etc. Moreover, organizations across the region are adopting advanced unified communication services such as conferencing, unified messaging, enterprise telephony, and instant messaging. The usage of contact centre capabilities such as auto-attendant, call routing, interactive voice response, and CRM integrations is also rising in North America.
The major players targeting the market include
- 8x8 Inc
- Cisco System Inc
- Google LLC
- Microsoft Corporation
- LogMeIn Inc
- RingCentral Inc
- Mitel Networks Corporation
- Fuze Inc
- Windstream Holdings Inc
- ALE International
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Unified Communication-as-a-Service (UCaaS). The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Unified Communication-as-a-Service (UCaaS)?
- Which factors are influencing the Unified Communication-as-a-Service (UCaaS) over the forecast period?
- What are the global challenges, threats, and risks in the Unified Communication-as-a-Service (UCaaS)?
- Which factors are propelling and restraining the Unified Communication-as-a-Service (UCaaS)?
- What are the demanding global regions of the Unified Communication-as-a-Service (UCaaS)?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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Unified Communication-as-a-Service (UCaaS) Market Report Coverage
Report Attribute | Details |
Base year | 2021 |
Forecast period | 2022-2028 |
Growth momentum | Accelerate at a CAGR of over 11% |
Market size 2020 | USD 40 Billion |
Regional analysis | North America, Europe, APAC, Rest of World |
Major contributing region | North America to Dominate the Global Unified Communication-as-a-Service (UCaaS) |
Key countries covered | United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, and India |
Companies profiled | 8x8 Inc, Cisco System Inc, Google LLC, Microsoft Corporation, LogMeIn Inc, RingCentral Inc, Mitel Networks Corporation, Fuze Inc, Windstream Holdings Inc, ALE International. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Component, By Organization Size, By Industry vertical, By Region. |
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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