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Unified Communication as a Service Market to Exhibit 12.8% CAGR till 2027; Rising Investments to Develop Unique Solutions will Favor Growth

October 19, 2020 | Information & Technology

The global unified communication as a service (UCaaS) market size is projected to reach USD 59.51 billion by 2027. Implementation of programmable collaboration and communication capabilities into business productivity solutions is set to affect growth positively. Additionally, several companies are investing huge sums in developing a comprehensive portfolio of UCaaS solutions. This information is given by Fortune Business Insights™ in a new study, titled, “Unified Communication as a Service (UCaaS) Market Size, Share & COVID-19  Impact Analysis, By Component (Telephony, Unified Messaging, Collaboration Platforms, Conferencing, Reporting and Analytics), By Delivery Mode (Managed Services, and Hosted/ Cloud Services), By Enterprise Size (Large, Small and Medium Sized (SME’s)), By Vertical (BFSI, IT and Telecommunication, IT-Enabled Services, Retail and Consumer Goods, Healthcare, Government and Defense, Manufacturing, and others), and Regional Forecast, 2020 – 2027.” The study further mentions that the market stood at USD 22.97 billion in 2019. But, it is set to exhibit a CAGR of 12.8% during the forecast period between 2020 to 2027.


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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


Increasing Need to Automate Communication Processes will Accelerate Growth


Several businesses nowadays are embedding features, such as chats, messaging, audio, and video services for automating the communication process. These are further aiding developers to focus on the mission-critical aspects. Besides, the rising demand for application programming interface (API)-driven programmable communication would surge the popularity of UCaaS solutions in the coming years. However,


Key Players Aim to Generate More Sales by Adopting Collaboration Strategy


The market for UCaaS is fragmented with the presence of numerous service providers. They are mainly engaging in collaborations and partnerships to co-develop novel solutions, thereby catering to the high demand from consumers. Also, the COVID-19 pandemic has compelled educational institutes to use digital platforms for teaching purposes. It is opening new opportunities for top cloud service providers.


Fortune Business Insights™ lists out the names of prominent UCaaS solution providers operating in the global market. They are as follows:



  • ALE International (Boulogne-Billancourt, France)

  • AT&T, Inc. (Texas, United States)

  • Avaya, Inc. (California, United States)

  • Cisco System, Inc. (California, United States)

  • Genesys (California, United States)

  • Google LLC (California, United States)

  • Huawei Technologies Co., Ltd (Shenzhen, China)

  • IBM Corporation (New York, United States)

  • IntelePeer Cloud Communications (California, United States)

  • Metaswitch Networks Ltd (London Borough of Enfield, United Kingdom)

  • Microsoft Corporation (Washington, United States)

  • Mitel Networks Corporation (Ottawa, Canada)

  • Polycon, Inc. (California ‎, United States)

  • Ribbon Communications (Massachusetts, United States)

  • RingCentral, Inc (California, United States)

  • Sify Technologies, Ltd (Chennai, India)

  • Tata Communications, Ltd. (Maharashtra, India)

  • Twilio, Inc. (California, United States)

  • Verizon Communication, Inc (New York, United States)

  • Vonage Holdings Corp (New Jersey, United States)

  • Zoom Video Communications, Inc. (California, United States)


A Noteworthy Industry Development-



  • April 2020: Ribbon Communications Inc. started delivering cloud-based unified communications and collaboration (UC&C) technology for free to support IBM clients’ remote staff. It will be available to new subscribers and would help IBM clients to adopt the former’s Kandy UCaaS offering.


Further Report Findings-



  • North America earned USD 8.96 billion in terms of revenue in 2019 stoked by the presence of a large number of reputed companies in the U.S. Also, the increasing acceptance of artificial intelligence (AI)-driven UCaaS solutions in the region would propel growth.

  • Asia Pacific is set to grow with a high CAGR in the coming years owing to the rising adoption of value-added internet communication services, such as chats, video conferencing, web conferencing, and internet protocol (VoIP).

  • Based on components, the telephony segment generated 14.5% in terms of UCaaS market share in 2019. The increasing demand for IP voice telephony fueled by the implementation of work from home practices would aid growth of this segment.


The global market for UCaaS can be segmented in the following way:














































  ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Component



  • Telephony

  • Unified Messaging

  • Collaboration Platforms

  • Conferencing

  • Reporting & Analytics



By Delivery Model



  • Managed Services

  • Hosted/Cloud Services



By Enterprise Size



  • Large Enterprises

  • Small & Medium Sized Enterprises



By Vertical



  • Banking, Financial Services and Insurance (BFSI)

  • IT and Telecommunications

  • IT-enabled Services (ITeS)

  • Healthcare

  • Retail and Consumer Goods

  • Government and Defense

  • Manufacturing

  • Others (Media and Entertainment, Construction, etc.)



By Region



  • North America (The U.S., and Canada)

  • Europe (The U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

  • Latin America (Mexico, Brazil, Argentina, and Rest of Latin America)


Unified Communication As A Service (Ucaas) Market
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