Unified Communication as a Service (UCaaS) Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026

 Unified Communication as a Service (UCaaS) Market Overview:

Cloud service adaptability and its popularity in modern business enterprises is a prompting innovation in the global IT market. According to CISCO’s global cloud traffic analysis, 20.6 zettabytes of data is consumed by cloud services annually globally.[1] This index resonates with the fact that in forthcoming years there will be an upsurge in global cloud traffic. Cloud-based Unified Communication as a Service (UCaaS) is a digital transformation for strengthening business tasks, the global market gained a revenue of $22 billion as of 2018. As an alternative to enterprise communication platform, UCaaS replaces additional liability such as deployment of on-premises software, IT support team, and multiple pay-offs. For reliable communication to global businesses, UCaaS support diverse features including unified instant messaging, Voice over Internet Protocols (VoIP), single user interface, flexible device connectivity, updated software systems, and cost-efficient operations. Growth in cloud IT-led transition is boosting the UCaaS market growth. High demand from large, medium, and small scale enterprises will boost the global UCaaS market and expected to grow with a CAGR of 11.1% through 2025.

UCaaS Market Outlook:

92% of Americans say they have purchased something on Amazon, as per NPR/Marist poll.[2] Online businesses are gaining high consumer demand and building strong relationship with users through multiple customer oriented services facilitated by UCaaS cloud utility which include chatbots, audio conferencing, and automated customer query response. Other web services such as Airbnb hospitality services and Uber transportation network are also deploying UCaaS facility to gain huge customer base. The reflective demand growth of unified communication services, economic stability, and advancement in the technology and business sector are driving factors for North America’s contribution of 23% in global UCaaS market. Global UCaaS market will experience compounding profit income and an effective increase in demand from enterprise collaboration with a robust CAGR of 37% during the forecast period of 2019-2025.

UCaaS Market Growth Drivers:

· IT solutions offer under a single roof-UcaaS reduces in-house software and hardware complications being solely undertaken by a third party service provider. This help the business entrepreneurs to focus on primary subjects without any diverted response attributing to UCaaS market growth.

· Organizations dependency on communication induce innovations and established clientele reliance through various channels such as web-based texting, screen sharing, and video and voice media that majorly influences the UCaaS market demand.

· Additional digital features of pay per use services, incorporating several apps in single-user interface, strong networking infrastructure, and replacing conventional telephonic system with VoIP solutions are constantly boosting the UCaaS market scope.

UCaaS Market Challenges:

Cloud computing majorly involve UCaaS integrators and service providers that make it essential to choose the right vendor. In order to provide low cost services, UCaaS eliminate essential cloud IT requirement which leads to significant drawbacks such as security breach and data backup redundancy caused by inadequate data controlling environment.

UCaaS Market Key Players:

The key players in the global UCaaS market are Microsoft Corporation (U.S.), Cisco Systems (U.S.), 8x8, Inc. (U.S.), Verizon Enterprise Solutions (U.S.), Avaya, Inc. (U.S.) AT&T, Inc. (U.S.), BT Group plc (UK), Centile Telecom Applications (France), DXC Technology Co. (U.S.), Fuze (U.S.), IBM Corporation (U.S.), Mitel Networks Corporation (Canada), NTT Communications (Japan), Orange Business Services (France), RingCentral, Inc. (U.S.), Vonage (U.S.), West Corporation (U.S.), and others.

Microsoft Corporation is a multinational technology company dealing with computer and computing related services. Company offer cloud services to organizations, business enterprises, government agencies, and others. It also deliver UCaaS services to its customers with Microsoft 365 integrated audio, video, messaging, and meeting solutions.

Location: United States

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