Unified Communications as a Service Market Share, Size, Growth, Opportunity and Forecast 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Unified Communications as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global unified communications as a service market exhibited strong growth during 2015-2020. Unified Communications-as-a-Service (UCaaS) refers to an extension of the Software-as-a-Service (SaaS) model that delivers telecommunication services through an integrated information protocol (IP) platform. It provides e-mail, instant messaging, call routing, videoconferencing and voice communication tools through single-tenant and multi-tenant services. The single-tenant service is used for connecting all on-premises applications together, while the multiple-tenant service is hosted on the cloud of the service provider and to enable multiple clients to share a single software platform. The hybrid-tenancy is used simultaneously for both single- and multi-tenant to optimize the balance of performance, scale, and security. UCaaS offers enhanced operational flexibility and aids in minimizing capital investments to acquire hardware equipment and outsource resources. As a result, it finds extensive applications across various industries, such as banking, financial services and insurance (BFSI), information technology (IT) & telecommunications, healthcare, transportation and logistics, and travel and hospitality.

The growing requirement for effective communication solutions across various industries is one of the key factors creating a positive outlook for the market. Furthermore, the widespread adoption of cloud computing solutions is also driving the market growth. Large organizations and small and medium enterprises (SME) are widely adopting cloud-based UCaaS solutions to simplify workflow processes, interpreting data and providing useful insights. In line with this, the emerging trend of bring-your-own-devices (BYOD) for enhanced enterprise mobility is also contributing to the growth of the market. Various technological advancements, such as the development of artificial intelligence (AI) and machine learning (ML)-based solutions for advanced communications, are acting as other growth-inducing factors. These solutions offer various benefits, including automated transcripts, smart tracking of speakers and intuitive call recordings, which, in turn, is contributing to the market growth. Other factors, including significant improvements in the IT infrastructure, along with widespread adoption of public cloud, are expected to drive the market further. Looking forward, the global unified communications as a service market is expected to grow at a CAGR of around 22% during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global unified communications as a service market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, solution type, organization size, deployment mode and vertical.

Breakup by Solution Type:

Telephony
Unified Messaging
Conferencing
Collaboration Platforms
Others

Breakup by Organization Size:

Small and Medium Enterprises
Large Enterprises

Breakup by Deployment Mode:

Public Cloud
Private Cloud
Hybrid Cloud

Breakup by Vertical:

BFSI
IT and Telecom
Healthcare
Transportation and Logistics
Travel and Hospitality
Media and Entertainment
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market 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.

Key Questions Answered in This Report:

How has the global unified communications as a service market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global unified communications as a service market?
What are the key regional markets?
What is the breakup of the market based on the solution type?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global unified communications as a service market and who are the key players?
What is the degree of competition in the industry?