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UCaaS Market to Register Stellar CAGR of 13.4% by 2028; Increasing Usage of Ai and ML in Unified Communication to Promote Growth

October 04, 2021 | Information & Technology

The global unified communication as a service (UCaaS) market size was USD 25.85 billion in 2020. The market is expected to grow from USD 28.96 billion in 2021 to USD 69.93 billion in 2028 at a CAGR of 13.4% during the 2021-2028 period.


This vital piece of information is presented by Fortune Business Insights™ 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 Organization Size (Large Enterprises, Small and Medium-Sized Enterprises (SME’s)), By Vertical (BFSI, IT and Telecommunications, IT-enabled Services (ITeS), Education, Retail and Consumer Goods, Government and Defense, Healthcare, Others), and Regional Forecast, 2021 – 2028.”


As per our research analysts, the surging implementation of the Communications Platform as a Service (CPaaS) and Application Program Interfaces (APIs) are projected to drive the growth of the UCaaS market. Additionally, ground-breaking technologies such as Artificial Intelligence (AI), voice assistance, Machine Learning (ML), and others are sanctioning the usage of unified communication services.


Remote Business Operations during COVID-19 Pandemic to Spur Demand for UCaaS


Since the commencement of the COVID-19 pandemic, offices and other establishments across the world have made fundamental changes in their work routine, such as introduced remote working options in order to assure employee security and weaken COVID-19 infection spread, from the time when office staff members have begun operating from their respective houses, there is an impulsive elevation in demand for online interaction and merging platforms inculcated with advanced technology. Therefore, the COVID-19 pandemic is set to boost the demand for UCaaS amid the pandemic.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/unified-communication-as-a-service-ucaas-market-101934


GapMaps Introduces “GapMaps Essentials” for all Victorians to Search Crucial Services 


With stage 4 lockdown constraints in place across the metropolitan zone of Melbourne, people are only permitted to step out and move around up to 5 km for essential goods and services such as supermarket, medical emergency, pharmacy, bottle shop, post office, petrol, and similar other services. GapMaps, which is a mapping and network planning device, has introduced a free platform named GapMaps Essentials for all Victorians to find indispensable services within 5 km of their residence.


The platform further permits people to cruise to supermarkets, hospitals, pharmacies, fast food & takeaway, petrol stations, and liquor shops within the legalized 5 km area of their houses. The platform can be effortlessly operated and has simple steps:



  • First, enter your residential address and choose the desired category

  • Modify the distance from 0 to 5 km range

  • Select to view the outcomes in a list structure or in a map arrangement


Such developments would propel the market for UCaaS in the near future.


Rapidly Surging Usage of API-driven Programmable Interaction to Aid Market Growth


Business applications are empowered with audio, programmable video, messaging, and other services to industrializing the interaction procedure. These built-in characteristics are assisting developers in emphasizing the application's most prominent and crucial features. Therefore, the market is prospective to demonstrate sudden growth by the rising importance of API-driven programmable communication aspects. This, in turn, is estimated to bolster the unified communication as a service (UCaaS) market growth during the forecast period.


Competitive Landscape


Collaborations and Mergers to Aid Developers Invent Novel Concepts and Inflate Business


Key players in this market frequently come up with proficient tactics that involve partnerships, procurements and mergers, product unveilings, and so on. These tactics reinforce their position as prominent leaders and also sustain the other involved companies.


Industry Development



  • April 2020: Ribbon Communications Inc. offered open source Unified Communications and Collaboration (UC&C) technology in order to aid the clientele of IBM enterprise during the COVID-19 pandemic condition on the IBM public cloud.


List of Key Players Covered in the UCaaS Market Report



  • RingCentral, Inc. (California, U.S.)

  • ALE International (Boulogne-Billancourt, France)

  • Sify Technologies, Ltd (Chennai, India)

  • Tata Communications, Ltd. (Maharashtra, India)

  • Verizon Communication, Inc (New York, U.S.)

  • Genesys (California, U.S.)

  • Metaswitch Networks Ltd (London Borough of Enfield, U.K.)

  • Mitel Networks Corporation (Ottawa, Canada)

  • Polycon, Inc. (California ‎, U.S.)

  • Zoom Video Communications, Inc. (California, U.S.)


Further Findings



  • The telephony segment is likely to hold the major share in the market. It generated 28.9% in terms of share in 2020.

  • North America is holding a major UCaaS market share, owing to the adoption of advanced business communication services. It stood at USD 9.92 billion in 2020 in terms of revenue.


Table of Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD billion)



Segmentation



  Component, Delivery Model, Organization Size, Vertical and Region



By Component




  • Telephony

  • Unified Messaging

  • Collaboration Platforms

  • Conferencing

  • Others (Reporting and Analytics)



By Delivery Model




  • Managed Services

  • Hosted/Cloud Services



By Organization Size




  • Large Enterprises

  • Small & Medium-Sized Enterprises



By Vertical




  • Banking, Financial Services and Insurance (BFSI)

  • IT and Telecommunications

  • IT-enabled Services (ITeS)

  • Education

  • Retail and Consumer Goods

  • Government and Defense

  • Healthcare

  • Others (Media and Entertainment)



By Region




  • North America


    • U.S.

    • Canada


  • Europe


    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe


  • Asia Pacific


    • China

    • Japan

    • India,

    • Australia

    • Southeast Asia

    • Rest of Asia Pacific


  • The Middle East & Africa





    • GCC

    • South Africa

    • Rest of the Middle East & Africa





  • Latin America


    • Mexico

    • Brazil

    • Argentina

    • Rest of Latin America



Unified Communication As A Service (Ucaas) Market
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