UCaaS to display a steady growth of ~11%

Unified Communication-as-a-Service (UCaaS) is expected to display a steady growth of ~11% due to the rise in research & development investments, according to UnivDatos Market Insights

The Unified Communication-as-a-Service (UCaaS) is expected to showcase significant growth with a CAGR of around 11% over the forecast period (2022-2028). Unified Communication-as-a-Service (UCaaS) are cloud-delivered unified communication model that mainly supports enterprise telephony, meetings (audio, video, web conferencing), unified messaging, instant messaging and presence (personal, and team), mobility, and communication-enabled business processes. Its typical characteristics include multitenancy (including tenant partitions residing on shared UC infrastructure, such as data centres, racks, compute, network, common equipment and blades) and self-service web portals for provisioning, management and performance/usage reporting. The increasing adoption of smart mobile devices coupled with the growing advancements of collaboration tools is expected to drive the market. Moreover, the rising trend of bringing your own device amongst organizations and the growing trend of remote work is expected to significantly drive the Unified Communication-as-a-Service (UCaaS) market. For instance, 55% of businesses globally offer some capacity for remote work

Some of the major players operating in the market include 8×8 Inc, Cisco System Inc, Google LLC, Microsoft Corporation, LogMeIn Inc, RingCentral Inc, Mitel Networks Corporation, Fuze Inc, Windstream Holdings Inc, ALE International.

The covid-19 has had a huge impact on every industry, however, due to constant lockdowns and social distancing organizations were shifted to remote working platforms to safeguard employee safety and to reduce the spread of the virus. This has positively influenced the market.

The global Unified Communication-as-a-Service (UCaaS) report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on component, the market is segmented into telephony, unified messaging, and collaboration platforms. The telephony component is expected to grow with a significant CAGR during the forecast period. This is mainly due to the transformation of the enterprise communication infrastructure. Furthermore, as the trend of remote working is becoming more prevalent, to communicate with teammates Unified Communication-as-a-Service (UCaaS) is used.
• Based on organization size, the market is segmented into small and medium enterprises and large enterprises. The small and medium enterprises segment is expected to grow significantly during the forecast period. The growing prominence of Unified Communication-as-a-Service (UCaaS) in small and medium organizations is mainly attributed to the normalization of contract work and remote work, offering enterprises the agility to be responsive as well as strategic in order to maintain an edge in the marketplace. Moreover, the small and medium have higher IT spending.

CT Bureau