According to Stratistics MRC, the Global Unified Communications as a Service Market is accounted for $33.41 billion in 2022 and is expected to reach $78.92 billion by 2028 growing at a CAGR of 15.4% during the forecast period.
Unified Communication-as-a-Service (UCaaS) is a cloud-based software that requires a monthly subscription fee for the web-based interface, mobile communication, and customization and integration. It is perfect for reporting & analytics, continuous support, and contact centre operations. Many businesses choose cloud-based unified communications platforms because they are more affordable than conventional Private Branch Exchange (PBX) systems. All unified communications and collaboration features are offered by UCaaS on a single platform.
Audio, messaging, programmable video and other services are integrated into business software to help automate the communication process. Developers may now concentrate on the most crucial elements of the programme thanks to these built-in functionalities. Because of the growing importance of API-driven programmable communication capabilities, the industry is therefore projected to experience exponential growth.
By geography, North America is projected to hold the largest market share during the forecast period owing to the advanced commercial communication services have been adopted. End-use businesses in this region have already incorporated chat, email, voice, video and audio conferencing, and other services into their daily operations. Bring your own device (BYOD), telepresence technologies, and other trends are being adopted, and these are what are really fueling the market’s expansion in the area. Aside from this, the expansion is also being supported by the presence of important firms like IBM Corporation, Verizon Communication Inc., Google LLC, Avaya Inc., and others.
Some of the key players profiled in the Unified Communications as a Service Market include RingCentral, BT Group, Verizon, Orange S.A., 8×8 Inc, Cisco, Google, Microsoft, LogMeIn Inc., Mitel, DialPad, Fuze, StarBlue, Windstream, Alcatel-Lucent Enterprise (ALE), NTT Communications, Vonage, Intrado Corporation (Formerly West), Masergy, Revation Systems
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By Components:
- Telephony
- Collaboration Platforms & Applications
- Unified Messaging
- Conferencing
By Enterprise Sizes:
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Delivery Models:
- Managed Services
- Hosted/Cloud Services
By End Users:
- Banking, Financial Services and Insurance (BFSI)
- IT and Telecommunications
- IT-enabled Services (ITeS)
- Education
- Retail and Consumer Goods
- Government and Defense
- Healthcare
- Other End Users
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