Unified communication as a service (UCaaS) market is expected to grow at significantly high CAGR of 24.5% for the forecasted period of 2018-2023. UCaaS market is segmented on the basis components, organization size and vertical. UCaaS has been able to reduce the cost of the organization by bringing in different services under one cloud. Unified Communication as a Service market is reducing the communication cost for small and medium business enterprises. UCaaS combines different sorts of communication into a single network. Easy pricing, lower cost of ownership and after sale services provided by vendors are driving the market. Unified Communication as a Services market potential to provide seamless communication will drive future market growth.
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Unified Communication as a Service market components includes conferencing, messaging, voice and telephony, client, collaboration platforms and applications. The UCaaS market is also segmented on the basis of organization size. At present small and medium-size businesses are the main target market for UCaaS. There are issues with compatibility and reliability in large organizations.
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Geographically, Unified Communication as a Service equipment market segmented into North America, Europe, Asia Pacific and Rest of the World. North America is anticipated to have a significant market share in the forecasted year. The driving force behind the growth of the UCaaS market is the digitization of businesses and the adoption of cloud services by small, medium, and large enterprises. The US is the major country in this region. APAC is forecast to be the most rapidly growing market owing to the rising inclination of large companies toward UCaaS solutions. Growing population, increasing number of smartphone ownership are some of the few factors that boost this region. Campaigns such as ‘Make in India’ have led to the establishment of offices and manufacturing units in India, this augment the need for UCaaS to connect the organizations with their headquarters.
Key companies profiled in the report are 8×8 INC., Alcatel-Lucent SA, Avaya INC., AT&T, Cisco, Dell, Dxc Technologies, Fuse, Genesis, Google, Hewlett Packard Enterprise, Huawei, IBM Corporation, Microsoft, Mitel, Orange Business Services, Polycom, Verizon Communications, Voss Solutions, West IP Communications. Product launch, geographical expansion, mergers and acquisition are some of the few major strategies used by market players to dominate their presence.
. MARKET SEGMENTATION
GLOBAL UCAAS MARKET BY, COMPONENTS
- CONFERENCING
- COLLABORATION PLATFORMS AND APPLICATIONS
VOICE AND TELEPHONY
o MESSAGING
o VOICEMAIL
o UNIFIED MESSAGING
o CLIENTS
MOBILE
o DESKTOP
o BROWSER
o OTHERS
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)