Global Unified Communication as a Service Market Outlook
According to a new report by Expert Market Research titled “Global Unified Communication as a Service Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the global unified communication as a service market reached a value of approximately USD 48.4 billion in 2022. Aided by the increasing demand for collaborative and flexible work solutions and the growing digital transformation in businesses, the market is projected to further grow at a CAGR of 15.70% between 2023 and 2028 to reach a value of USD 116.1 billion by 2028.
Unified Communication as a Service (UCaaS) is a cloud-based service model that provides businesses with an integrated suite of communication capabilities such as telephony, instant messaging, video conferencing, voicemail, email, and others. UCaaS plays a vital role in enhancing collaboration, increasing productivity, and streamlining business processes. Apart from its communication capabilities, UCaaS also offers advanced features such as AI-based services, advanced analytics, and integration with business applications, making it a valuable tool for various business operations.
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The increasing adoption of remote work policies and flexible work solutions is driving the global unified communication as a service market growth. With the growing awareness of the benefits associated with collaborative work platforms, there has been a significant shift towards UCaaS, leading to a surge in demand for UCaaS solutions. Over the forecast period, the introduction of 5G technology and fast internet is anticipated to enhance market share for unified communication as a service. This rise can be attributed to the expanding need for a connection with fast speed and low latency for video and audio conferencing.
The expanding applications of UCaaS in various industries also play a significant role in propelling the unified communication as a service market expansion. In the IT industry, UCaaS is used to enhance collaboration, improve project management, and streamlines communication. The healthcare sector utilises UCaaS for telemedicine, patient engagement, and healthcare management. Moreover, UCaaS’s ability to integrate with business applications and provide advanced analytics makes it an essential tool in decision-making and business strategy.
Further, the growing adoption of cloud computing and the increasing popularity of Software as a Service (SaaS) has led to an increased focus on UCaaS as a scalable and cost-effective communication solution. With the rise of digital transformation and the shift towards cloud-based solutions, UCaaS has emerged as a critical component in business communication and collaboration, thereby boosting the unified communication as a service market expansion.
Unified Communication as a Service Market Segmentation
The market can be divided based on component, deployment mode, delivery model, organisation size, end user, and region.
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Market Breakup by Component
- Telephony
- Unified Messaging
- Collaboration Platforms
- Conferencing
- Others
Market Breakup by Deployment Mode
- Public Cloud
- Private Cloud
Market Breakup by Delivery Model
- Managed Service
- Hostel/Cloud Services
Market Breakup by Organisation Size
- Large Enterprises
- Small and Medium Sized Enterprises
Market Breakup by End User
- BFSI
- Retail
- Healthcare
- Government and Public Sector
- IT and Telecom
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global unified communication as a service companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Avaya Inc.
- ALE International
- 8X8 Inc
- Cisco Systems, Inc.
- Mitel Networks Corporation
- Gamma Communications PLC
- NTT Communications Corporation
- Vodafone Group PLC
- Telia Company AB
- RingCentral, Inc.
- Verizon Communications, Inc
- Others
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