Unified Communication as a Service (UCaaS) Market 2021 Grow At A 13.4% CAGR and Forecasts by 2028 | With Key Players are: RingCentral, Inc., ALE International, Sify Technologies, Ltd, Tata Communications, Ltd., Verizon Communication, Inc....

Unified Communication as a Service (UCaaS) Market 2021-2028

New study report " Unified Communication as a Service (UCaaS) Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview:

The global unified communication as a service (UCaaS) market size was USD 25.85 billion in 2020. The market is expected to grow from USD 28.96 billion in 2021 to USD 69.93 billion in 2028 at a CAGR of 13.4 % during the 2021-2028 period. This vital piece of information is presented in the report, titled, “Unified Communication as a Service (UCaaS) Market, 2021-2028”, by Fortune Business Insights™.

According to our research experts, the progression in cloud infrastructure has navigated the demand for unified communication services expansively. Additionally, businesses across the globe are implementing unified communication as a service platforms in order to influence services such as messaging, video & audio conferencing, and other associated tools. Therefore, this is expected to aggravate the demand for UCaaS in the long term.

Top Key Players in this market are:

RingCentral, Inc. (California, U.S.)
ALE International (Boulogne-Billancourt, France)
Sify Technologies, Ltd (Chennai, India)
Tata Communications, Ltd. (Maharashtra, India)
Verizon Communication, Inc (New York, U.S.)
Genesys (California, U.S.)
Metaswitch Networks Ltd (London Borough of Enfield, U.K.)
Mitel Networks Corporation (Ottawa, Canada)
Polycon, Inc. (California ‎, U.S.)
Zoom Video Communications, Inc. (California, U.S.)
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COVID-19 Impact-

Distant Working amid COVID-19 Pandemic to Spur Demand for Unified Communications

Since the commencement of the COVID-19 pandemic, establishments across the globe have adopted remote working platforms to guarantee worker protection and reduce COVID-19 spread. Since workers have begun working from their houses, there is an exponential rise in demand for online communication and association platforms fortified with progressive technology.

Moreover, an upsurge in distance learning and work from home rules has further improved the implementation of services. Occasioning is the swift shift of enterprises to the cloud service model to administer their teams and escalate employee efficiency.

Competitive Landscape-

Collaboration is a Chief Tactic Adopted by Players to Progress their Offerings

Prominent players are principally concentrating on concluding strategic partnerships and collaborations to augment their product and service collections. Moreover, speculation across modified products and service introduces is aiding prime companies to reinforce their spots in the market for UCaaS. Several prime companies have prolonged their merger deals with cloud service suppliers to elevate performance.

Segmentation-

On the basis of components, the market is classified as telephony, unified messaging, collaboration platform, conferencing, and reporting & analytics. Among these, the telephony segment is expected to hold the maximum share in the market.

By delivery model, the market is bifurcated into Unified Communication as a Service (UCaaS) and hosted/ cloud services.

In terms of the organization size, the market is branched into small and medium-sized enterprises and large enterprises.

Based on vertical, the market is divided into BFSI, IT and telecommunications, IT-enabled services (ITeS), education, retail and consumer goods, government and defense, healthcare, others.

Geographically, the market is segregated across five major regions: North America, Latin America, the Middle East & Africa, Asia Pacific, and Europe.

Regional Insights-

North America to Lead Stoked by Adoption of Video and Audio Conferencing

North America is holding a major unified communication as a service (UCaaS) market share, owing to the implementation of innovative business communication services. End-use enterprises across this region have embraced services such as chat, video & audio conferencing, voice, mails, and others as an incorporated portion of their procedures. The region generated USD 9.92 billion in 2020 in terms of revenue.

Europe is estimated to display reasonable growth during the forecast period. The growth is owing to the implementation of communications gears, utilization of pay-per-use model, surging movement trends, and others throughout the education and healthcare sector.

Asia Pacific is projected to grow with the maximum CAGR during the forecast period. The growth of this region is owing to the rising demand for internet-grounded interaction services across small-scale and medium-scale enterprises.

Report Coverage-

The report presents a holistic study of the UCaaS market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions, or driving factors is also mentioned in the report. Step by step, a thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the growth of the market are shared in the report.

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Table Of Content:

Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Market Share Analysis and Matrix, 2020

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