Unified Communication as a Service (UCaaS) Market to Grow at CAGR of 29.4% from 2016 to 2024: Rising Demand for UCaaS Solutions in Large Enterprises Acts as Growth Booster

Unified Communication as a Service (UCaaS) is an emerging technology that has rapidly garnered a lot of attention from developer communities and enterprises. The global UCaaS market is poised to witness a significant rise in demand for UCaaS solutions from enterprises and businesses keen on increasing the efficiency of existing processes. A number of these enterprises are now switching from traditional business processes to communications-enabled business processes.

The value of the global UCaaS market was pegged at US$8.23 bn in 2015 and is projected to expand at an impressive CAGR of 29.4% from 2016 to 2024 to reach US$79.3 bn by the end of the forecast period.

“There has been a substantial increase in the use of social media for businesses, and combining social media with UCaaS solutions enables efficient customer relationships and strengthens marketing,” the author of the study states. UCaaS vendors are, therefore, looking to build ecosystems that can make social business integration compelling for enterprises.

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Global Unified Communication as a Service (UCaaS) Market: Synopsis

The global unified communication as a service (UCaaS) market is prophesized to attract growth on the back of the need to switch from traditional business to communication-enabled business processes. Such a switch is expected to enhance the efficiency of various business operations. UCaaS is an emerging, ready-to-go technology that is permanently updated, pre-integrated, and standardized. The service leads to improved productivity and accelerated decision-making keeping the cost low.

The report foresees the global UCaaS market to be appropriately segregated as per deployment model, deployment type, service, end user, and delivery model. Hosted UCaaS solutions comprised as a part of the segmentation by deployment model are expected to be a major contributor to the market growth.

The researchers of the report have included an in-depth analysis of the global UCaaS market coupled with a focus on its competitive matrix. Each region of the market has been carefully studied to unveil hidden opportunities and growth prospects likely to show face in the coming years.

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Global Unified Communication as a Service (UCaaS) Market: Trends and Prospects

The world UCaaS market is expected to gain momentum and obtain strength to capture major growth prospects due to a significant rise in the number of people using mobile phones worldwide. As businesses spread across the globe, the need to communicate with each other effectively across the border has significantly augmented. Collaboration tools that could provide with improved and effective communication between employees are the need of the hour. As such, the need for UCaaS solutions rises thereof. However, the market is restrained by the lack of knowledge and awareness about UCaaS.

The emergence and increasing popularity of bring your own device (BOYD) trend has bolstered the growth of the world UCaaS market. UCaaS solutions not only provide improved services but also tighten security and enhance reliability, especially that of corporate devices. Furthermore, with the phenomenal penetration of mobile phones on a global platform, the market for UCaaS is prophesized to obtain an immense opportunity for growth.

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Global Unified Communication as a Service (UCaaS) Market: Geographical Evaluation

So far as regional dominance is concerned, North America leads the market for UCaaS and is prophesized to retain its dominance during the forecast period. Much of the growth of the region is attributed to the well-developed network infrastructure and tech-savvy workforce. Asia Pacific, on the other hand, is also anticipated to embrace a highly lucrative growth in the market. A rising number of businesses are making a move toward the adoption of UCaaS solutions. Availability of a cheap and large workforce proficient in globally recognized languages and customer service could offer scores of opportunities for the establishment of contact center services, thereby adding to the demand for UCaaS.

The report also offers a study on other important regions of the international UCaaS market, viz. the Middle East and Africa (MEA) and Europe.

Global Unified Communication as a Service (UCaaS) Market: Key Players

Some of the vital companies worth studying their business strategies and growth path in the worldwide UCaaS market are IBM Corporation, Alcatel-Lucent SA (Nokia Networks), Verizon Communications, Packard Development Company, L.P., Avaya, Inc., West Corporation, Microsoft Corporation, Hewlett- Polycom, Inc., Unify, Inc. (Atos SE), Cisco Systems, Inc., and Avanade Inc. The report provides a deeper insight into the nature and other fundamental characteristics of the competitive landscape.

Global Unified Communication as a Service (UCaaS) Market: Deployment Model

Managed
Hosted
Global Hosted Unified Communication as a Service (UCaaS) Market: Deployment Type

UC Software as a Service (SaaS)
UC Platform as a Service (PaaS)
UC Infrastructure as a Service (IaaS)
Global Unified Communication as a Service (UCaaS) Market: Service

Telephony Services
Contact Center Services
UC Application Services
Collaboration Services
Global Unified Communication as a Service (UCaaS) Market: End User

Large Enterprise
Small and Medium Enterprise (SME)
Public Sector
Global Unified Communication as a Service (UCaaS) Market: Delivery Model

Stand-alone Services
Integrated Services
Global Unified Communication as a Service (UCaaS) Market: Geography

North America
Europe
Asia Pacific
Rest of the World

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