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IMARC Group’s latest report, titled “Unified Communications as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global unified communications-as-a-service market is currently witnessing strong growth. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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. On account of these factors, the market is expected to witness strong growth during the forecast period (2021-2026).
Market Summary:
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