Unified communication-as-a-service (UCaaS) solutions are penetrating the information technology firms globally. The domestic and global urgency to establish communication is instigating the market for UCaaS. As per the market research report from IndustryARC, the global UCaaS market size was $22 billion as of 2018. Foreseeing the current trends of automation and cloud computing, the demands in the global UCaaS market are expected to grow at a compound annual growth rate (CAGR) of 11.1% during the forecast period of 2019 to 2025.
The report is titled “Unified Communication as a Service (UCaaS) Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast (2019-2025).” This report incorporates trends, growth drivers, financial overview, business strategies, and recent developments in the global UCaaS market.
UCaaS Market: Leading Segments
North America is foreseen as the fastest growing geographical region in the UCaaS market. The presence of numerous small and medium enterprises in the region is responsible for the hefty demand for UCaaS. The inevitable demands of communication in the commercial sector coupled with the growing start-up culture is boosting revenues in the UCaaS market. As per the insights from the report, the region is estimated to withhold 23% of the total UCaaS market share.
enterprise collaboration is the fastest growing vertical in the global UCaaS
market. The inclination towards employing third-party services for achieving productivity
and efficiency in specific tasks is incrementing the instances of enterprise
collaboration. Successful companies today are relying on improving their
productivity by engaging external support and services. Establishing
communication between these external sources is a practice that is contributing
to the profits in the UCaaS market. Enterprise collaboration is projected to
grow at a CAGR of 37% through to 2025.
UCaaS Market Analysis
Unified communication as a service is a cloud IT delivery mechanism for an enterprise communications platform. This service is similar to the platform as a service model which provides a platform for development. UCaaS involves the digital transformation of telephony, unified messaging, conferencing, and automated transmission of voice that allows companies to shift from capital investment firm to an operating cost model based company. The rising appeal of cloud business model as a scalable, affordable, and accessible tool for proliferating SMBs worldwide is one of the major growth drivers in the UCaaS market. Additionally, the automation trends prevailing in the manufacturing, industrial, and computational industries are estimated to infiltrate glorifying profits in the global UCaaS market.
UCaaS Market Trends
· UCaaS providers are incorporating the 4K video technology to produce a life-like video that will provide small and medium-sized enterprises (SMBs) with a future-proof solution for daily tasks such as closing sales, promoting products, and conducting video conferences for recruiting new people.
· Emerging 4.5G and 5G networks will introduce more feasibility options for the companies to avail Internet connections for their business. Presence of numerous service providers will increase the competition thereby hiking the service quality. Additionally, the 5G network will provide better reliability and enhanced call quality.
· UCaaS will help the SMB’s to identify and tackle fraud concerns. The SMBs share contact information with third parties during customer interaction via video conference. Preventing data breaches and frauds during these conferences is paramount. Encrypting features from UCaaS for additional protection on video conference will ensure the reduction of forgery cases.
UCaaS Market: Competitive Landscape
Some of the key players mentioned in the report that are currently leading the UCaaS market are 8x8, Inc. (USA), AT&T, Inc. (USA), Avaya, Inc. (USA), BT Group plc (UK), Centile Telecom Applications (France), Cisco Systems, Inc. (USA), DXC Technology Co. (USA), Fuze (USA), IBM Corporation (USA), Microsoft Corporation (USA), Mitel Networks Corporation (Canada), NTT Communications (Japan), Orange Business Services (France), RingCentral, Inc. (USA), Verizon Enterprise Solutions (USA), Vonage (USA), & West Corporation (USA).
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can you expect from the report?
The global UCaaS market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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