Global Unified Communications-as-a-Service Market to Grow at 18.8% During 2024-2032, Impelled by Emerging Trend of Bring-your-own-Devices (BYOD)

March 09, 2021 | Technology & Media

IMARC Group’s latest report, titled “Unified Communications as a Service Market Report by Solution Type (Telephony, Unified Messaging, Conferencing, Collaboration Platforms, and Others), Organization Size (Small and Medium Enterprises, Large Enterprises), Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), Vertical (BFSI, IT and Telecom, Healthcare, Transportation and Logistics, Travel and Hospitality, Media and Entertainment, and Others), and Region 2024-2032,” finds that the global unified communications-as-a-service market is expected to exhibit a CAGR of 18.8% during 2024-2032. Unified Communications-as-a-Service (UCaaS) is a cloud-delivered unified communications model that is used for delivering telecommunication services via an integrated information protocol (IP) platform. It generally supports six communication functions, including enterprise telephony, meetings (audio/video/web conferencing), unified messaging, instant messaging and presence (personal and team), mobility, and communications-enabled business processes. In recent years, UCaaS has gained traction as it helps minimize capital investments and enhance operational flexibility to acquire hardware equipment and outsource resources.

Global Unified Communications-as-a-Service Market Trends:

The global unified communications-as-a-service market is primarily driven by the rising need for effective communications solutions across various industries, including banking, financial services and insurance (BFSI), information technology (IT) and telecommunications, healthcare, transportation and logistics, and travel and hospitality. Besides this, cloud-based UCaaS solutions are extensively adopted by both large organizations and small and medium enterprises (SME). These solutions simplify the processes of workflow and data interpretation while providing insights. The rising trend of bring-your-own-devices (BYOD) has also resulted in enhanced enterprise mobility, thereby significantly impacting the market growth. Furthermore, several technological innovations, such as integrating artificial intelligence (AI) and machine learning (ML)-based solutions for advanced communications, are expected to further drive the market.

Market Summary:

Based on the solution type, the market has been divided into telephony, unified messaging, conferencing, collaboration platforms, and others.
On the basis of the organization size, the market has been bifurcated into small and medium, and large enterprises.
The market has been segregated based on the deployment mode into the public, private and hybrid cloud.
On the basis of vertical, the market has been segmented into BFSI, IT and telecom, healthcare, transportation and logistics, travel and hospitality, media and entertainment, and others.
Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being 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. and Verizon Communications Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Solution Type, Organization Size, Deployment Mode, Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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. and Verizon Communications Inc.
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Global Unified Communications-as-a-Service Market to Grow at 18.8% During 2024-2032, Impelled by Emerging Trend of Bring-your-own-Devices (BYOD)

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