Unified Communication As a Service Market Latest Industry Trends, Future Growth, Regional Overview and Growth Forecast Outlook till 2028, Fortune Business Insights

According to the report, the Global unified communication as a service (UCaaS) market is set to gain traction from the increasing adoption of such platforms by educational institutes and students amid the COVID-19 pandemic. Backed by the closure of schools and colleges, regulatory bodies are promoting the usage of digital learning platforms. Fortune Business Insights™ presented this information in a new report, titled, "Unified Communication as a Service (UCaaS) Market Size, Share & COVID-19 Impact Analysis, By Component (Telephony, Unified Messaging, Collaboration Platforms, Conferencing, Reporting and Analytics), By Delivery Mode (Managed Services, and Hosted/ Cloud Services), By Enterprise Size (Large Enterprises, Small and Medium Sized Enterprises (SME's)), By Vertical (BFSI, IT and Telecommunication, IT-Enabled Services, Retail and Consumer Goods, Healthcare, Government and Defense, Manufacturing, and others), and Regional Forecast, 2020-2027."

The global unified communication as a service market is expected to grow from $28.96 billion in 2021 to $69.93 billion in 2028 at a CAGR of 13.4%

COVID-19: Rising Work from Home Practices to Bolster Demand Worldwide

The emergence of the COVID-19 pandemic is compelling companies to adopt remote working platforms for reducing transmission. Also, work from home practices are surging the demand for collaborative and communication platforms featuring novel technologies. It has further increased the usage of web conferencing, mobile telephony, collaborative meetings, and video conferencing. The conventional VPN scenarios are transforming rapidly with the introduction of alternatives to secure cloud connectivity. It would propel the demand for UCaaS solutions. We are delivering research reports aimed at enlightening our clients on the current scenario of the market for UCaaS.

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This Report Answers the Following Questions:

What are the present trends driving the sale of UCaaS solutions?
What are the innovations and developments done by key companies?
What are the hindrances, opportunities, drivers, and dynamics for the market?
Which are the new segments to focus in the near future for prioritizing investments?
Drivers & Restraints-

Rising Implementation of BYOD Policy by Companies to Propel Growth

The ongoing development of network architectures, as well as the rising adoption of mobile devices is set to support the distributed or remote work approaches. It requires an intuitive user interface (UI) equipped with a unified, collaborative, and robust communication ability. Apart from that, several companies are implementing the policy of 'bring your own device' (BYOD) for reducing costs, enhancing collaboration, and surging productivity. These factors are expected to drive the UCaaS market growth in the coming years. However, the lack of multiple power sources and remote backups may obstruct the demand for UCaaS solutions.

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Segment-

Telephony Segment to Grow Steadily Stoked by Demand for Hosted IP Telephony

Based on components, the telephony segment generated 14.5% in terms of UCaaS market share in 2019. This growth is attributable to the high demand for hosted internet protocol (IP) telephony backed by the development of the enterprise communication infrastructure. Also, the urgent need for IP voice telephony on account of the adoption work from home amid COVID-19 is set to accelerate growth of this segment.

Regional Analysis-

Higher Popularity of Cloud Communication to Favor Growth in Europe

In 2019, North America earned USD 8.96 billion in terms of revenue and is set to hold the largest share in the near future. This growth is attributable to the rising usage of features, such as web conferencing, mails, chats, and voice calls across businesses in the region. Europe, on the other hand, is set to showcase moderate growth because of the rising popularity of cloud communication. This is further expected to augment the demand for UCaaS solutions.

Competitive Landscape-

Key Players Focus on Collaboration Strategy to Enhance Their Product Portfolios

The global market for UCaaS houses multiple companies that are mainly striving to improve their existing product portfolios by adopting the strategy of collaboration. Some of the others are also extending their partnerships with reputed cloud service providers. Below are two latest industry developments:

June 2020: Genesys and Arvind Ltd. are working together to develop a unified contact-centre-as-a-service (U-CCaaS) solution called Omnipremise.
June 2020: HERE Technologies and FlyNex collaborated to map airspace in Germany in 3D. The project is named DaViLus and it relies on location data from HERE.

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List of all the UCaaS solutions & services providers operating in the market:

ALE International (Boulogne-Billancourt, France)
AT&T, Inc. (Texas, United States)
Avaya, Inc. (California, United States)
Cisco System, Inc. (California, United States)
Genesys (California, United States)
Google LLC (California, United States)
Huawei Technologies Co., Ltd (Shenzhen, China)
IBM Corporation (New York, United States)
IntelePeer Cloud Communications (California, United States)
Metaswitch Networks Ltd (London Borough of Enfield, United Kingdom)
Microsoft Corporation (Washington, United States)
Mitel Networks Corporation (Ottawa, Canada)
Polycon, Inc. (California ‎, United States)
Ribbon Communications (Massachusetts, United States)
RingCentral, Inc (California, United States)
Sify Technologies, Ltd (Chennai, India)
Tata Communications, Ltd. (Maharashtra, India)
Twilio, Inc. (California, United States)
Verizon Communication, Inc (New York, United States)
Vonage Holdings Corp (New Jersey, United States)
Zoom Video Communications, Inc. (California, United States)

What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

KEY QUESTIONS ANSWERED:

What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the Europe Prothrombin Complex Concentrate Market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

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Key questions answered in Unified Communication As a Service Market report:

What will the market growth rate of Unified Communication As a Service Market in 2021?
What are the key factors driving the global Unified Communication As a Service Market?
Who are the key manufacturers in Unified Communication As a Service Market space?
What are the market opportunities, market risk and market over view of the Unified Communication As a Service Market?
What are sales, revenue, and price analysis of top manufacturers of Unified Communication As a Service Market?
Who are the distributors, traders and dealers of Unified Communication As a Service Market?
What are the Unified Communication As a Service Market opportunities and threats faced by the vendors in the global Unified Communication As a Service Market?
What are sales, revenue, and price analysis by types and applications of Unified Communication As a Service Market?
What are sales, revenue, and price analysis by regions of Unified Communication As a Service Market?
With tables and figures helping analyze worldwide Global Unified Communication As a Service Market Forecast this research provides key statistics on the state of the industry and should be a valuable source of guidance and direction for companies and individuals interested in the market.

Table of Content:

Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Executive Summary
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
Porter's Five Force Analysis
Global Unified Communication As-a-Service (UCaaS) Key Players Market Share Analysis and Matrix, 2019
Key Market Insights and Analysis, By Segments
Global Unified Communication As-a-Service (UCaaS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
By Component (Value)
Telephony
Unified Messaging
Collaboration Platforms
Conferencing
Reporting & Analytics
By Delivery Model (Value)
Managed Services
Hosted/Cloud Services
By Enterprise Size(Value)
Large Enterprises
Small and Medium Sized Enterprises
By Vertical (Value)
Banking, Financial Services and Insurance (BFSI)
IT and Telecommunications
IT-enabled Services (ITeS)
Healthcare
Retail and Consumer Goods
Government and Defense
Manufacturing
Others (Media and Entertainment, Construction, etc.)
By Region (Value)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Continued...

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