Sandy, Utah, USA, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Unified Communication as a Service (UCaaS) Market Size, Trends and Insights 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), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand of global Unified Communication as a Service (UCaaS) Market size & share was valued at approximately USD 48.16 Billion in 2021 and is expected to reach USD 61.07billion in 2022 and is expected to reach a value of around USD 240.17 Billion by 2030, at a compound annual growth rate (CAGR) of about 7.53% during the forecast period 2022 to 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.
Unified communication as a service Market: Overview
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.
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Growth Factors
Businesses are being forced to embrace a hybrid business strategy by the COVID-19 epidemic. To ensure effective collaboration, companies notably consolidate various communication elements and facilitate cross-functioning. In addition, 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 market’s 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. Furthermore, 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.
Machine learning (ML) and artificial intelligence (AI) advances in the communications industry 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 constantly changing.
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(A free sample of the (UCaaS) Unified Communication as a Service report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the (UCaaS) Unified Communication as a Service report has been modified to include the COVID-19 impact study prior to delivery.)
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Segmental Overview
The market for UCaaS is segmented into components, delivery models, and industry verticals. According to the element, the telephony segment is expected to increase. Among other UCaaS products, telephony and conferencing will be the most in-demand during the forecast period.
The demand for telephone and conferencing among small and medium-sized businesses (SMEs) is rising because these solutions assist SMEs in streamlining their internal communications and boosting productivity.
Telephony is anticipated to hold the bulk of the market share due to the development of business communication infrastructure and the increasing demand for cloud (IP) telephony. In addition, the market has grown due to companies switching from traditional PBX telephone systems to voice-over-Internet protocol (VoIP) solutions.
Based on the delivery model, the hosted/cloud service segment is expected to grow at the highest CAGR during the forecast period. Innovative cloud services like cloud telephony and conferencing are the fundamental forces for adoption. On the other hand, managed services include customizations, dashboards, multiple functionality, analytics, portals, and other features. Because of this, it is estimated that the managed service industry will grow significantly in size throughout the projected period.
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According to the industry vertical, the IT and telecom segment dominates the UCaaS market during the forecast period. The expansion is attributable to enterprises’ digital transformation, which sparked the widespread use of cloud-based unified communication services. In addition, work-from-home opportunities, remote employment, and other trends are all boosting demand for IT-enabled services in the industry. As a result, two important sectors contributing to the expansion are communications and information technology.
The incumbents in the IT and telecom sector frequently deal with well-known clients like federal agencies and government departments, which necessitates a practical and secure information exchange. The demand to use UCaaS solutions is also driven by the significant focus of various IT & telecom firms to roll out more effective collaboration tools among their globally distributed workforce. Therefore, the adoption of UCaaS solutions by IT & telecom enterprises is driven by the rising requirement for privacy protection, data security, and seamless workplace integration.
Key questions answered in this report:
- What is the size of the (UCaaS) Unified Communication as a Service market and what is its expected growth rate?
- What are the primary driving factors that push the (UCaaS) Unified Communication as a Service market forward?
- What are the (UCaaS) Unified Communication as Service Industry's top companies?
- What are the different categories that the (UCaaS) Unified Communication as a Service Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the (UCaaS) Unified Communication as a Service market sample report and company profiles?
Click Here to Access a Free Sample Report of the Global (UCaaS) Unified Communication as a Service Market @ https://www.custommarketinsights.com/report/ucaas-market/
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Directly Purchase a copy of the (UCaaS) Unified Communication as a Service report [220+ Pages] @ https://www.custommarketinsights.com/report/ucaas-market/
Regional Overview
North America held the most significant market share of the total market in the UCaaS market. The market’s expansion may be attributed to the region’s 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 center features, including auto-attendant, call routing, interactive voice response, and CRM connections.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | 48.16 billion |
| Projected Market Size in 2030 | 240.17 billion |
| CAGR Growth Rate | 7.53 % CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent 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, and Others |
| Key Segment | By Component, Delivery model, Industry Vertical, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Players Insights
The players have implemented various strategies to expand the unified global communication service market. The study contains a thorough competitive analysis of the major unified communication as a service market participants and information on their company overviews, recent developments, and vital business strategies.
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Browse the full Unified Communication as a Service (UCaaS) Market Size, Trends and Insights 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), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/ucaas-market/
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
- Verizon
- BT
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The global Unified Communication as a Service 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
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Key Insights:
- Based on component segmentation, the telephony segment is estimated to hold the largest market share during the forecast period, and the conferencing category is anticipated to grow at a consistent rate.
- Based on delivery model segmentation, the hosted/cloud segment is the leading revenue-generating category during the forecast period.
- Based on vertical industry segmentation, the IT and telecom segment is the leading revenue-generating category during the forecast period.
- Based on geography/region, the North American region was the leading revenue generator in 2021.
Recent Development
- 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.
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- Which Manufacturing Technology is used for (UCaaS) Unified Communication as a Service? What Developments Are Going on in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This (UCaaS) Unified Communication as a Service Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the (UCaaS) Unified Communication as a Service Market? What Was the Capacity, Production Value, Cost and PROFIT of the (UCaaS) Unified Communication as a Service Market?
- What Is the Current Market Status of the (UCaaS) Unified Communication as a Service Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of (UCaaS) Unified Communication as a Service Market by Considering Applications and Types?
- What Are Projections of the Global (UCaaS) Unified Communication as a Service Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is (UCaaS) Unified Communication as a Service Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact on (UCaaS) Unified Communication as a Service Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the (UCaaS) Unified Communication as a Service Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for (UCaaS) Unified Communication as a Service Industry?
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Reasons to Purchase (UCaaS) Unified Communication as a Service Market Report
- (UCaaS) Unified Communication as a Service Market Report provides qualitative and quantitative market analysis based on segmentation involving economic and non-economic factors.
- (UCaaS) Unified Communication as a Service Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- (UCaaS) Unified Communication as a Service Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- (UCaaS) Unified Communication as a Service Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
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Reasons for the Research Report
- The study provides a thorough overview of the global (UCaaS) Unified Communication as a Service market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide (UCaaS) Unified Communication as a Service market analysis.
- The competitive environment of current and potential participants in the (UCaaS) Unified Communication as a Service market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and Industry Vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
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Who should buy this report?
- Participants and stakeholders worldwide (UCaaS) Unified Communication as a Service market should find this report useful. The research will be useful to all market participants in the (UCaaS) Unified Communication as a Service Industry.
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