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The global Unified Communication as a Service (UCaaS) market size was valued at USD 28.43 billion in 2022. The market is projected to grow from USD 32.01 billion in 2023 to USD 85.77 billion by 2030, exhibiting a CAGR of 15.1% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Unified Communication as a Service (UCaaS) Market Size, Share & COVID-19 Impact Analysis, By Component (Telephony, Unified Messaging, Collaboration Platforms, Conferencing, and Others), By Delivery Model (Managed Services and Hosted/Cloud Services), By Enterprise Type (Large Enterprises and Small and Medium-sized Enterprises (SMEs)), By Vertical (BFSI, IT and Telecommunications, IT-enabled Services (ITeS), Education, Retail and Consumer Goods, Government and Defense, Healthcare, and Others), and Regional Forecast, 2023-2030”.
The Unified Communication as a Service (UCaaS) portfolio is being expanded with cutting-edge features, functions, and services. Furthermore, prominent industry players have embarked on integrating programmable communication and collaboration capabilities into their existing UCaaS offerings.
Stringent Pandemic Laws Augmented Growth for the UCaaS Market
In response to the COVID-19 pandemic, organizations globally transitioned to remote working platforms as a precautionary measure to ensure employee safety. This shift was accompanied by a surge in the adoption of remote learning and work-from-home guidelines. For instance, the unforeseen closure of schools affected approximately 1.20 billion students in more than 186 countries since April 2020, as per a blog published by the World Economic Forum.
ZOHO’s Trident to Enhance Consumer’s Communication Experience
An innovative unified communications platform named Trident was launched by ZOHO Corporation in February 2023. This platform aims to enhance communication ease by integrating audio/video calls, calendar, messages, mail, and various other channels. The ultimate goal is to provide customers with a comprehensive and seamless communication experience.
Increasing API-Driven Programmable Communication in the Business Application Market Drives Growth
Business applications now incorporate functions such as programmable video, messaging, and audio to automate communication processes. By offering these integrated features, developers can prioritize the core aspects of their applications. Consequently, the market is poised to experience substantial growth due to the rising importance of API-driven programmable communication capabilities. Notably, industry leaders such as Avaya, Inc. and IntelePeer Cloud Communications are actively engaged in the development of advanced API-based programmable solutions are aimed at streamlining communication and simplifying intricate business processes.
However, security concerns in reselling third-party data center services may act as a barrier for the Unified Communication as a Service market growth.
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Businesses Concentrate on Developing Cloud Infrastructure to Improve Services
Enterprises globally are embracing UCaaS platforms to capitalize on the benefits offered by services such as audio and video conferencing, messaging, and various collaboration tools. The surge in demand for unified communication services can be largely attributed to the advancements in cloud infrastructure. Additionally, the growing acceptance of Communications Platform as a Service (CPaaS) and Application Program Interfaces (APIs) is projected to propel the expansion of the market.
Notable Industry Development:
List of Key Players Profiled in the Report:
Further Report Findings:
Table of Segmentation
Value (USD billion)
CAGR of 15.1% from 2023 to 2030
By Component, Delivery Model, Enterprise Type, Vertical, and Region
By Delivery Model
By Enterprise Type