Increased Enterprise Mobility and BYOD Usage drives the demand for Unified Communication as a Service (UCaaS) market
Unified communications as a service is a model of delivery that includes a range of communication services, applications, and collaboration that are delivered via a network by outsourcing through a third-party provider. The UCaaS offers diverse features including Voice over Internet Protocols (VoIP), unified instant messaging, single user interface, updated software systems, flexible device connectivity, and cost-efficient operations. It is expected that the global Unified Communications as a Service (UCaaS) market size is projected to reach USD 31 billion by 2025
It enables a high level of scalability and flexibility to core business tasks. UCaaS is deployed in a large number of organizations since it enhances business practices by streamlining communication, and thereby scaling the revenue. The increasing demand for Unified Communication as a Service (UCaaS) and its rising implementation within the SMBs are responsible for fueling the growth for the industry in the past few years.
Based on the component segment, the market is bifurcated into unified messaging, telephony, collaboration platforms, and conferencing. In 2019, the telephony segment gathered the highest market revenue and it is anticipated to govern the UCaaS market throughout the forecast period. However, the collaborative platform segment is anticipated to grow at a substantial growth rate over the forecast period. The major share of telephony revenue is likely to come from the North American region, owing to the presence of tech companies is the highest within the region.
The report also throws light on various aspects of the global UCaaS by assessing the market using value chain analysis. The report covers several qualitative aspects of the UCaaS industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global Unified Communication as a Service (UCaaS) market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global personal market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the UCaaS storage, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the UCaaS market in North America.
The major players of the global UCaaS market are RingCentral, 8x8, LogMeIn, Mitel, Cisco, Vonage, Fuze, Inc., Microsoft, Google, Verizon, BT, Orange S.A., DialPad, StarBlue, Windstream, Alcatel-Lucent Enterprise, and others. The UCaaS market is fragmented with the existence of well-known global and domestic players across the globe. Unified Communication as a Service (UCaaS) market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Unified Communication as a Service (UCaaS) Market
Component Overview, 2018-2025 (USD Billion)
- Telephony
- Unified Messaging
- Conferencing
- Collaboration Platforms and Applications
Industry Vertical Overview, 2018-2025 (USD Billion)
- BFSI
- Telecom and IT
- Consumer Goods & Retail
- Healthcare
- Public Sector & Utilities
- Logistics & Transportation
- Travel & Hospitality
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America