Unified Communications as a Service Market to Reach US$ 150.4 Billion by 2027

According to the latest IMARC Group's research report, titled "Unified Communications as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The global unified communications as a service market size reached US$ 43.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 150.4 Billion by 2027, exhibiting a growth rate (CAGR) of 22.74% during 2022-2027.

Unified Communications as a Service Industry Outlook:

Unified communications as a service is a cloud delivery framework that supports six communications functions: enterprise telephony, meetings (audio/video/web conferencing), unified messaging, instant messaging and presence (personal and team), mobility, and communications-enabled business processes. It is owned, operated, maintained, and delivered by the provider. It offers various communication and collaboration applications and services. It is known for delivering flexibility and scalability for core business tasks. Several UCaaS vendors offer contact-center capabilities, including auto-attendant, call routing, interactive voice response, and customer relationship management integrations.

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Unified Communications as a Service Market Trends:

The global market is majorly driven by the increasing demand from both large enterprises and small and medium-scale enterprises. In line with this, the emerging trend towards mobility and Bring Your Own Device (BYOD) is creating a positive outlook for the market. Furthermore, rapid advancements in artificial intelligence, machine learning, and other emerging technologies are offering lucrative opportunities for UCaaS vendors. Apart from this, improvements in cloud infrastructure and emerging trends such as distance learning and remote working are accelerating the adoption of UCaaS solutions.

Moreover, the rising integration of the application program interfaces (APIs) and communications platform as a service (CPaaS) are anticipated to drive market expansion. Besides, the leading players are using various tactics to provide users with effective communication, collaboration tools, and subscription models depending on usage and user. As a result, the UCaaS portfolio is augmented with innovative features, services, and functionalities. In addition, the leading players have initiated incorporating programmable communication and collaboration capabilities into their UCaaS portfolio. These strategies cater to customized demand across corporate, government, and healthcare industries.

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Key Market Segmentation:

Top Companies in Unified Communications as a Service Industry:

• 8x8 Inc.
• Ale USA Inc.
• AT&T Inc. (China Huaxin Post and Telecom Technologies Co.Ltd.)
• BT Group Plc
• Cisco Systems Inc.
• Fuze Inc.
• Microsoft Corporation
• NTT Communications (The Nippon Telegraph and Telephone Corporation)
• Ringcentral Inc.
• Verizon Communications Inc.

Breakup by Solution Type:

• Telephony
• Unified Messaging
• Conferencing
• Collaboration Platforms
• Others

Breakup by Organization Size:

• Small and Medium Enterprises
• Large Enterprises

Breakup by Deployment Mode:

• Public Cloud
• Private Cloud
• Hybrid Cloud

Breakup by Vertical:

• BFSI
• IT and Telecom
• Healthcare
• Transportation and Logistics
• Travel and Hospitality
• Media and Entertainment
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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