Global Unified Communication as a Service (UCaaS) Market

Unified Communication as a Service (UCaaS) Market: Overview

According to Custom Market Insights (CMI), The Global Unified Communication as a Service (UCaaS) Market  was estimated at around US$ 48.16 billion in 2021 and is expected to reach USD 61.07 billion in 2022 growing at a CAGR of nearly 26.43% from 2022 to 2030. The market is projected to reach approximately USD 240.17 billion by 2030.

Unified communication as a service Market offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.

A model of delivery known as unified communications as a service (UCaaS) involves outsourcing a range of collaboration and communication services and apps to a third party provider and delivering them across a network. UCaaS solutions include business messaging, video conferencing, and telephone in addition to the present technology. Core business tasks benefit from the flexibility, high availability, and scalability of UCaaS. Numerous businesses adopt UCaaS because it boosts income by reducing corporate operations and improving communication. The UCaaS market is expanding due to factors such as the rising demand for UCaaS and its greater uptake in small and medium sized businesses. The market is also driven by the low cost of UCaaS and its pay per usage feature.

Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.custommarketinsights.com/request-for-free-sample/?reportid=18858 

Unified Communication as a Service (UCaaS) Market: Growth Drivers

Businesses are being forced to embrace a hybrid business strategy by the COVID 19 epidemic. To ensure effective collaboration, businesses notably consolidate various communication elements and facilitate cross functioning. Employers are using UCaaS (Unified Communication as a Service) solutions due to the rise in remote employment. As a result of the COVID 19 epidemic, businesses are also implementing UCaaS platforms and tools to review their operational expenses and safeguard their margins in the face of declining revenues.

The 5G high speed data network deployment encourages the markets expansion throughout the forecast period. Video and audio conferencing, meetings, and collaboration may all be considerably improved thanks to the fast, low latency communication made possible by 5G networks. The adoption of UCaaS solutions, platforms, and services is particularly encouraged by the cloud specific network function virtualization (NFV) and multi access edge computing (MEC) capabilities offered by 5G technology for scalable and self healing networks. Over the forecast period, the market is also anticipated to increase due to the application features and user interfaces that can be tailored to suit specific needs and potentially improve workplace cooperation.

Vendors nowadays can offer Web RTC solutions, enabling quicker video streaming and group chats on client devices due to the rise in real time communication demand. Companies strive to find UCaaS solutions that enhance the experience of users seated at their desks and those working remotely. Advances in the communications industry in machine learning (ML) and artificial intelligence (AI) have driven the UCaaS market. New features like intelligent chatbots and predictive intelligence are made possible by machine learning and AI techniques. Because of AI, corporate workflow arrangements are always changing.

Report URL: https://www.custommarketinsights.com/report/ucaas-market/ 

Unified Communication as a Service (UCaaS) Market: Regional Analysis

North America held the biggest market share of the total market in the UCaaS market. The markets expansion may be attributed to the regions growing use of telepresence systems, sophisticated business solutions, and bring your device (BYOD) policies. Advanced unified communication services, including conferencing, unified messaging, enterprise telephony, and instant messaging, are being used by businesses throughout the area. In North America, there is an increase in the use of contact centre features, including auto attendant, call routing, interactive voice response, and CRM connections.

Unified Communication as a Service (UCaaS) Market: Recent Developments

• July 2022: The Unified Communications as a Service (UCaaS) and Contact Center a Service (CCaaS) provider Ericsson purchased Vonage Holdings Corp. to transform its mobile network business into an enterprise. With the addition of CCaaS, UCaaS, and Communications Platform as a Service (CPaaS), Ericsson can now offer a complete line of communications solutions.
• January 2020: To improve contact center and cloud communications capabilities, Altura teamed with RingCentral. Altura will work with RingCentral to let U.S. businesses in various industries, including healthcare, government, and education, access its cloud communications and contact center solutions.

Key Players:

• RingCentral
• 8 * 8
• LogMeIn
• Orange S.A.
• DialPad
• StarBlue
• Windstream
• Alcatel Lucent Enterprise
• Intrado Corporation
• NTT Communications Corporation
• Masergy
• Revation Systems
• Mitel
• Cisco
• Vonage
• Fuze Inc.
• Microsoft
• Google
• Verizon
• BT

Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.custommarketinsights.com/request-for-free-sample/?reportid=18858 

The global Unified Communication as a Service (UCaaS) market is segmented as follows:

By Component

• Telephony
• Unified Messaging
• Collaborating Platforms
• Conferencing
• Others

By Delivery model

• Managed Services
• Hosted/Cloud Services

By Industry Vertical

• IT and Telecom
• Healthcare
• Education
• Others

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

Browse Other Custom Market Insights coverage of the Global TECHNOLOGY Industry

• Global Blockchain IoT Market 

• Global Video Streaming Software Market 

• Global Passenger Information Display System Market 

• Global Web Real Time Communication (WebRTC) Market 

• Global Web Filtering Market