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- Global Unified Communications-as-a-Service Market
Global Unified Communications-as-a-Service Market to Witness Strong Growth During 2021-2026, Impelled by Emerging Trend of Bring-your-own-Devices (BYOD)
March 09, 2021
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:
- 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, Singapore, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and other), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being 8*8 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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