The global unified communication as a service market size was valued at USD 38.74 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 23.6% from 2021 to 2028. The outbreak of COVID-19 is compelling enterprises to adopt a hybrid business model. As a result, enterprises are particularly consolidating multiple communication features and enabling cross-functioning to ensure efficient collaboration. The growing number of employees working from home is also prompting companies to implement UCaaS (Unified Communication as a Service) solutions.
The adoption of video conferencing and video communication practices gained significant traction in 2020. The trend was particularly highlighted by the rapid adoption of video conferencing and communication services offered by Microsoft Corporation; Cisco Systems, Inc.; and Zoom Video Communications, Inc.; among other vendors. For instance, Zoom Video Communications, Inc. registered a growth of 88% in 2020, thereby illustrating the growing preference for video conferencing solutions among enterprises. Video conferencing enables users to foster healthy interpersonal relationships and facilitates more efficient decision-making during meetings and conferences.
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Key Player Mentioned:
· 8x8 Inc.
· Amazon.com, Inc.
· Avaya Inc.
· CenturyLink, Inc.
· Cisco Systems, Inc.
· Fuze, Inc.
Product Segment Analysis:
· Public Cloud
· Private Cloud
The latest technologies such as Artificial Intelligence (AI) are playing a vital role in helping organizations in achieving their digital transformation goals. AI-enabled solutions can help organizations in effortless transcriptions, intelligently tracking speakers, intuitively recording calls, understanding users’ needs, and offering relevant services. AI-enabled UCaaS solutions can also help in sentiment analysis. As such, AI-enabled UCaaS solutions can typically leverage data mining techniques to analyze discussions, reviews, and comments, direct mentions related to brands, products, and services, and help enterprises in strategizing accordingly.
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Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
The continued rollout of high-speed 5G data networks bodes well for the growth of the market over the forecast period. The high-speed, low-latency connectivity enabled by 5G networks can significantly enhance video and audio conferencing and meetings and strengthen collaboration. The cloud-specific network function virtualization (NFV) and multi-access edge computing (MEC) capabilities offered by 5G technology for scalable and self-healing networks are particularly encouraging the adoption of UCaaS solutions, platforms, and services.
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The global Unified Communication As A Service Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the unified communication as a service market include 8x8, Inc., ALE International, Avaya Inc., Cisco Systems Inc., Fuze, Inc., IBM Corporation, Mitel Networks Corp., NEC Corporation, RingCentral, Inc. and Verizon Communications Inc..
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Unified Communication As A Service Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/unified-communication-as-a-service-market/download-sampleMarket DynamicsThe growing need for effective communication solutions across many industries is a significant factor creating a positive outlook for the market.
In addition, the extensive adoption of cloud computing solutions across the globe, the emerging trend of bring-your-own-devices (BYOD) for improved enterprise mobility, and technological advancements, such as machine learning (ML) and artificial intelligence (AI) based solutions for advanced communications, are playing as other growth-inducing factors.
UCaaS solutions offer numerous benefits, including automated transcripts, smart tracking of speakers, and intuitive call recordings, which, in turn, contributing to the market growth.
Global Unified Communication as a Service Market Research Report: By Deployment Mode (Managed and Hosted [UC SaaS, UC PaaS and UC IaaS]), Service (Telephony Services, Contact Center Services, UC Application Services, and Collaboration Services), Organization Size (Large Enterprises and Small and Medium Enterprises), Delivery Model (Standalone Services and Integrated Services), Vertical (BFSI, IT & Telecom, Public Sector, Retail, Healthcare, Logistics & Transportation, Travel & Hospitality and others), Region (North America, Europe, Asia Pacific, Middle East, and Africa and South America) - Forecast till 2025OverviewGlobal Unified Communication as a Service Market is expected to register a CAGR of 10.5% during the review period, 2019–2025.unified communication as a service is a service model where providers deliver different telecom or communications software applications or services, generally over the global IP network.
It can reduce the need for multiple modes of communication devices such as VoIP telephones, video conferencing setups, and so on due to the integrated nature of the system, which provides a single platform for voice, text, video, and even email and calendar in one application for businesses.
Major factors driving the growth of the market are the need for 24x7 communication channels for global businesses with teams across the globe and reduced cost of ownership compared to other communication tools.
However, the lack of awareness about unified communication as service offerings and company policies around security issues of such integrated platforms are hindering the market growth.The Global Unified Communication as a Service Market is dominated by a few major players; however, new players are expected to enter the market due to new revenue opportunities in regions such as Asia-Pacific, the Middle East and Africa, and South America.
The entry of new players is expected to increase the competition in the market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8721Competitive AnalysisGlobal Unified Communication as a Service Market is characterized by the presence of several regional and local providers.
Some of the Key Players in the market are 8x8, Inc, Microsoft Corporation, Verizon Communications, Inc, IBM Corporation, Cisco Systems, Inc, BT Group, Avanade, Inc., Fuze, Inc, Voss Solutions, Polycom, Inc, ATOS SE, and West Corporation.Segmental AnalysisThe Global Unified Communication as a Service Market has been segmented based on Deployment Mode, Service, Organization Size, Delivery Model, Vertical, and Region.Based on Component, the market has been segmented into managed and hosted.
