Market Overview:

The global unified communications as a service market size reached US$ 43.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 150.4 Billion by 2027, exhibiting a growth rate (CAGR) of 22.74% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

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.

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 at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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.

Report Coverage:

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?